Attendo AB Reports Earnings Results for the Second Quarter of 2018; Provides Earnings Guidance for the Second Half and Tax Rate Guidance for the Full Year of 2018
July 26, 2018 at 12:50 pm EDT
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Attendo AB (publ) reported earnings results for the second quarter of 2018. Net sales increased by 25% to SEK 2,743 million against SEK 2,189 million a year ago. Adjusted for currency affects, net sales increased by 22%. Operating profit (EBITA) amounted to SEK 128 million against SEK 186 million a year ago. Operating profit (EBITA) adjusted for non-recurring items amounted to SEK 181 million against SEK 186 million a year ago. Profit for the period amounted to SEK 40 million against SEK 111 million a year ago. Diluted earnings per share were SEK 0.25 against SEK 0.69 a year ago. Operating cash flow was SEK 267 million against SEK 262 million a year ago. Underlying operating profit for the second quarter of 2018 was on par with the corresponding quarter in 2017. CapEx amounted to SEK 67 million, mainly due to fixed assets in the new own nursing homes. Net debt amounted to SEK 4.8 billion.
The company expects second half of 2018 to be better than first half in terms of margins and profits.
The company expects tax rate to be 24.5% for the full year 2018.
Attendo AB (publ) is a Sweden-based company, which is primarily active within care services industry. The Company offers a variety of services, such as care for older people, people with disabilities, individuals and family care. In nursing homes, clients live in their own apartments with access to common areas such as a dining hall, living room, garden and patios. Daily activities are planned by the client together with their contact person and the responsible nurse. Attendo Ab (publ) operates group housing for adults, homes for children with special needs and short-term housing for adults and children. The Company offers individual and family care that covers the social service needs, such as consultant-supported family home care, crisis and emergency housing, dependency care, neuropsychiatry for young people and various forms of support housing.
Attendo AB Reports Earnings Results for the Second Quarter of 2018; Provides Earnings Guidance for the Second Half and Tax Rate Guidance for the Full Year of 2018