Q2 2025 Attendo AB (publ) Earnings Call Transcript
Key Points
- Attendo AB (LTS:0RCY) reported a 26% increase in lease adjusted EBITDA, reaching SEK205 million, driven by operational improvements in Finland and increased sales of beds.
- Customer satisfaction reached an all-time high with a cNPS of 49, up from 45 in the previous year, indicating successful efforts to improve resident care.
- The company opened new care homes in Finland, Sweden, and Denmark, adding over 400 new beds in the past 12 months, supporting sustainable growth.
- Attendo AB (LTS:0RCY) achieved a 25% increase in lease adjusted EPS to SEK0.85 per share, with a rolling 12-month EPS up 48% from the previous year.
- The acquisition of Framja in Sweden is expected to enhance the company's disabled care offering, contributing to EBITDA growth above the annual target.
- Reported net sales decreased by 3% to SEK4.7 billion, impacted by a weaker euro, ended contracts, and lower pricing in Finland's elderly care sector.
- Scandinavia's performance was negatively affected by non-recurring costs related to ended home care contracts and start-up costs for new units.
- Employee engagement, as measured by eNPS, slightly declined, particularly in Finland, due to recent staff restructuring following new staffing requirements.
- Occupancy rates were slightly down due to new openings and seasonality, with some customers leaving for summer holidays.
- The company faced a SEK20 million non-recurring negative impact from terminated home care contracts, with ongoing inefficiencies expected as contracts ramp down.
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Thank you, and good morning, everyone. Today, we present Attendo's results for the second quarter. I will start by giving a general update on the development in the quarter, then our CFO, Mikael Malmgren, will take you through the financials in more detail.
First, let me just give a brief backdrop to Attendo for new listeners. Next slide, please. Founded 40 years ago, Attendo is one of the early pioneers in Nordic care. Today, we're the largest care operator in the Nordics, operating close to 800 care units, serving 28,000 customers across Finland, Sweden and Denmark. Our mission is to provide a better and more appreciated care for our customers at a lower cost of society compared to public sectors on care operations.
Next slide, please. In the second quarter, we continue to deliver in line with our strategy for sustainable growth with new openings in all markets, combined with bolt-on acquisitions and attractive segments. During the quarter, we opened new care homes in both
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