Q3 2024 Terveystalo Oyj Earnings Call Transcript
Key Points
- Terveystalo PLC (OHEL:TTALO) achieved a strong Q3 performance, with a 5% growth in revenue and an EBITA margin of 11.6%.
- The company reached its financial targets in profitability one year ahead of schedule, with a 12.3% EBITA margin over the last 12 months.
- Customer satisfaction and medical quality have been maintained at high levels, indicating robust operations and a strong company culture.
- The Finnish segments are delivering strong results, with healthcare services showing growth and improved margins.
- The company has a strong cash flow and a low net debt level, providing capacity for future investments in growth opportunities.
- The Swedish operations are still lagging behind, with the turnaround program progressing but not yet showing positive bottom-line results.
- Revenue in portfolio businesses is declining due to the termination of outsourcing contracts and challenges in the consumer market.
- The demand environment in Sweden remains weak, with some ended customer contracts impacting revenue.
- The company anticipates a challenging Q4, with one-time costs impacting performance, including a collateral labor agreement payment and a one-off payment to staff.
- The public sector revenue has been deliberately reduced as the company focuses on maintaining a healthy margin structure, leading to a decline in revenue from this segment.
Good morning, everybody and welcome to Terveystalo Q3 results call and webcast. My name is Kati Kaksonen and I'm responsible for Terveystalo investor relations and sustainability.
As usual, we'll go through the results with the presentation by our CEO
Ville Iho and our CFO Juuso Pajunen and we follow that with the Q&A first. We'll take questions from the phone line and then from the webcast as well, but without further ado over the Ville.
Thank you.
So now I'm not able to change this light. So, okay, networks so strong, the journey continues. The performance was again boosted especially by health care services which is improving and is still growing as a business as we have planned, we have seen and also encouraging signs in portfolio business where profitability is improving against fairly tough market conditions, both in public side and consumer businesses that portfolio business is running.
Sweden is not yet showing bottom
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