A return to strong organic growth in the third quarter and promising performance improvements for Stendi.
In the third quarter, the efforts carried out in Stendi showed results. Stendi is now standing on firmer ground and efforts to further improve the performance of the Norwegian operation have continued. At the same time, demand for elderly care was favourable in Sweden and Vardaga delivered strong growth in the third quarter. In line with our updated strategy, Klara divested its medical staffing area to focus on subscription services and specialised solutions instead, such as mobile teams and student health services. Following our strategic efforts with Klara during the year, we now see an opportunity for the division to play a stronger role in Ambea moving forward and to increase its contribution to the Group's performance.
In the third quarter, net sales rose 9 per cent to SEK 3,187 million (2,912). EBITA was SEK 359 million (344), corresponding to a margin of 11.3 per cent (11.8).
Third quarter July-September
- Net sales rose 9 per cent to SEK 3,187 million (2,912). Organic growth was 5 per cent, acquired growth was 2 per cent and the exchange rate effect was 2 per cent.
- Operating profit (EBIT) totalled SEK 333 million (316).
- EBITA rose 4 per cent to SEK 359 million (344), representing a margin of 11.3 per cent (11.8).
- Profit for the period totalled SEK 193 million (190).
- Earnings per share were SEK 2.04 (2.01) before and after dilution.
- Cash conversion was 56.2 per cent (52.1).
- Free cash flow totalled SEK 252 million (186).
In connection to the announcement, Ambea will host a telephone conference at 10:00 (CET) today. The presentation will be held in English and available as webcast on www.ambea.com or direct link: https://edge.media-server.com/mmc/p/qac2zkik
To participate in the conference call, register before the call using the link below. Upon registration you will receive a dial-in number and a unique personal PIN code. To ensure that the connection to the conference call is working, please dial in ten minutes before the start time of the conference call.
The quarterly earnings report and associated presentation will be available on www.ambea.com
This disclosure contains information that Ambea is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 03-11-2022 07:00 CET.
For more information, contact:
Benno Eliasson, CFO
Ambea press contact
Telephone: +46 (0)10 33 00 501
Ambea is the market leading care provider in Sweden, Norway and Denmark respectively, with over 950 care units and around 31,000 employees. We offer services in disabled care, individual and family care, and elderly care with a focus on residential care and own management. We aim to be the quality leader in all that we do and our vision is to make the world a better place, one person at a time. The company was founded in 1996 and its head office is located in Solna, Sweden. Ambea is listed on Nasdaq Stockholm.
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