Q1 2025 Attendo AB (publ) Earnings Call Transcript
Key Points
- Attendo AB (FRA:7AT) reported an 8% increase in net sales for the first quarter, driven by the acquisition of Team Olivia and increased occupancy in nursing homes.
- The company's underlying adjusted EBITA improved by SEK71 million or 44% to SEK234 million, reflecting operational improvements and strategic acquisitions.
- Attendo AB (FRA:7AT) achieved strong EPS growth, supported by higher earnings and a share buyback program, aligning with their goal of SEK550 per share by 2026.
- The implementation of new evidence-based methods to measure quality of life in nursing homes is showing positive impacts on residents' well-being.
- The company successfully integrated Team Olivia, enhancing operational efficiency in Scandinavia and contributing to earnings growth.
- The home care segment faced challenges, with weak development impacting overall results.
- New openings in recent quarters led to a slightly higher cost base, affecting financial performance.
- The company terminated several home care contracts due to unsustainable business terms, incurring exit costs of SEK10 million to SEK15 million.
- Currency effects are expected to impact financial results in Q2, with potential fluctuations in the EUR exchange rate.
- The company faced a large tax cash out in Q1, related to an extraordinary payment for the full year of 2024.
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Thank you and good morning everyone. Today we present the Attendo's results for the first quarter of 25 before diving into the development of the quarter, so just let me zoom out to make some comments on tenor status and strategy going forward.
Slide 2, please.
As a private welfare company, our mandate to do business and keep growing is closely linked to our ability to deliver a more appreciated and specialized care with higher stakeholder satisfaction at a lower cost to society than public sector.
Last year, we completed the acquisition and the integration of Team Olivia and Sweden and strengthened operational efficiency in Finland. Hence, we entered 2025 with a more diversified operations. From an operational point of view, we have made strong progress in terms of stakeholder satisfaction among both customers, relatives, employees, and payers.
Last year, according to national satisfaction surveys, we reached both higher satisfaction scores
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