Q2 2026 Attendo AB (publ) Earnings Call Transcript
Key Points
- Strong Q2 results with lease-adjusted EBITDA up 56% to SEK321 million and adjusted EPS up 79% to SEK1.52.
- Record-high customer satisfaction and continued improvement in employee satisfaction.
- Occupancy improved to 88% group-wide, up 2.5 percentage points year-on-year, with a clear path to the 92% target.
- M&A activity ahead of plan with four acquisitions year-to-date, adding ~SEK450 million in net sales and ~SEK50 million in lease-adjusted EBITDA.
- Strong free cash flow of SEK269 million in the quarter and SEK1.2 billion on a rolling 12-month basis, supporting increased investments and share buybacks.
- Reported net sales growth was only 1% due to ended/ending outsourcing and home care contracts in Sweden and currency effects.
- Scandinavia margin still low at 5.4% (though improved from 2.2%), with structural complexity limiting margin potential versus Finland.
- Finland occupancy flattened sequentially at 87% due to seasonal softness and new openings, with Q3 expected to be softer.
- Free cash flow was negatively impacted by working capital timing (SEK53 million negative vs. positive SEK178 million last year).
- Leverage expected to increase slightly due to higher investments in new capacity, acquisitions, and active capital allocation.
Welcome to Attendo Q2 Report 2026. (Operator Instructions)
Now I will hand the conference over to CEO Martin Tivéus and CFO Mikael Malmgren. Please go ahead.
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Thank you. And good morning, everyone.
Today we present Attendo's results for the second quarter of 2026. As usual, we'll focus on the key drivers behind our performance, our operational progress, and how we continue to execute our strategy. I will start by giving a general update on the development in the quarter, and then our CFO, Mikael Malmgren, will take you through the financials in more detail.
Next slide, please. Let me start with the key highlights from the quarter. I'm pleased to present a strong quarter with improved results in both business areas, driven by higher occupancy, improved operational efficiency, and a strong delivery on our quality indicators.
Customer satisfaction reached the highest
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