Q1 2026 Terveystalo Oyj Earnings Call Transcript
Key Points
- Terveystalo PLC (TTALF) has seen a stabilization in the number of connected employees, indicating a potential turnaround in the second half of the year.
- The company has launched a novel occupational healthcare digital platform, which has received positive early feedback and is expected to provide significant value to customers.
- Terveystalo PLC (TTALF) is experiencing growth in its dental business, which has been a positive performer despite challenging market conditions.
- The company is actively investing in digital transformation, including AI-assisted appointments, which is expected to enhance efficiency and customer engagement.
- Terveystalo PLC (TTALF) has maintained a strong balance sheet with a net debt to EBITDA ratio of 2.4, allowing continued investment in growth initiatives.
- The overall market environment has been exceptionally weak, with revenue declines across all segments, impacting profitability.
- The company's first quarter results showed a significant drop in adjusted EBIT to EUR34 million, reflecting the challenging market conditions.
- There has been a decrease in patient visits, particularly in occupational health, due to lower morbidity and macroeconomic factors.
- Cash flow was negatively impacted by reduced profitability, high tax payments from the previous year's record profits, and structurally negative net working capital.
- The public sector and outsourcing contracts have seen revenue declines, contributing to a weaker performance in the portfolio business.
Good morning, everybody, and welcome to Terveystalo first quarter 2026 results call and webcast. My name is Kati Kaksonen. I'm responsible for investor relations and sustainability here at Terveystalo.
As usual, we'll go through the results with our CEO, Ville Iho; and our CFO, Juuso Pajunen; And after the presentation, you'll have time for your questions.
Without further ado, over to you, Ville.
Thank you, Kati, and good morning.
Let's Dive into it. So Terveystalo first quarter, during the first quarter, the market was even more negative than we expected going into the year. That was then clearly reflected into our revenue line, which came clearly down. And despite the adjustment measures that we did, especially in our operations to adjust the ops to lower demand, there was a drop through to our adjusted EBIT, which was at EUR34 million.
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