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    AMBEA   SE0009663826

AMBEA AB (PUBL)

(AMBEA)
  Report
Delayed Nasdaq Stockholm  -  11:29:39 2023-02-07 am EST
41.36 SEK   +4.39%
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2022Ambea's interim report July - September 2022
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Ambea's interim report July - September 2022

11/03/2022 | 01:01am EST

A return to strong organic growth in the third quarter and promising performance improvements for Stendi.

CEO comment: 

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.

Increased sales
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).

Telephone conference
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

New procedure
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.

Registration: https://register.vevent.com/register/BI08e5b4bc2beb4dd1aa820dbdb1d9d42d

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
E-mail: ir@ambea.se

Ambea press contact
Telephone: +46 (0)10 33 00 501
E-mail: press@ambea.se

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.

https://news.cision.com/ambea/r/ambea-s-interim-report-july---september-2022,c3660550

https://mb.cision.com/Main/5048/3660550/1647815.pdf

https://news.cision.com/ambea/i/ambea-header-interimreport,c3109980

(c) 2022 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2022 12 562 M 1 183 M 1 183 M
Net income 2022 419 M 39,5 M 39,5 M
Net Debt 2022 10 277 M 968 M 968 M
P/E ratio 2022 9,29x
Yield 2022 3,12%
Capitalization 3 910 M 368 M 368 M
EV / Sales 2022 1,13x
EV / Sales 2023 1,07x
Nbr of Employees 31 000
Free-Float 69,8%
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Number of Analysts 4
Last Close Price 41,36 SEK
Average target price 66,75 SEK
Spread / Average Target 61,4%
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Managers and Directors
Mark Jensen President & Chief Executive Officer
Benno Eliasson Chief Financial Officer
Yrj÷ Pekka Tapio Nńrhinen Chairman
Gunilla Rudebjer Independent Director
Patricia Brice˝o Rodriguez Director