Comments from
"Development in the first quarter was divided. Fortunately, the vaccination program for our customers in care for older people has been completed. As planned, we are continuing the positive development of the business in
Higher occupancy in
The positive effects of the action programme persisted in the first quarter, which resulted in a higher number of occupied beds. Occupancy is now around 83 percent, compared to 80 percent during the same period in 2020. Net sales in Attendo Finland rose by about 5 percent in the first quarter compared to the comparison quarter in 2020. Occupancy is expected to continue to improve, as
Lease adjusted operating profit (EBITA) amounted to
Weak customer inflow in
The second wave of the corona pandemic affected
Occupancy in our nursing homes in own operations has declined by 10 percentage points since the pandemic began, related mainly to lower inflow and a high rate of openings. Now that all customers have been vaccinated, we expect a gradual normalisation of inflow in the second half of the year as worries about moving into a nursing home subside and the municipal occupancy rate improves.
Net sales in Attendo Scandinavia declined by 9 percent as a consequence of the sale of the Norwegian operations and lower occupancy in relation to the comparison quarter. Lease adjusted EBITA amounted to
Overall a Group profits still marked by the pandemic
The occupancy development within nursing homes in
We are following our strategic plan and feel confident that we will deliver on our new financial targets for 2023. In line with the strategy, we have recently carried out two complementary acquisitions - UMSK, which strengthens our position in the capital region and Nyland, and Tjust Behandlingsfamiljer in central
The aftermath of the pandemic
In the spring of 2020, both society and elderly care were unprepared for the pandemic, with a global shortage of protective equipment, limited test capacity and insufficient knowledge of how the virus was transmitted. Despite these difficult conditions, our thousands of employees in
In the past week,
We will now learn from this event to get better, among other things through extensive training work for managers and employees on protection for whistle blowers. For some time now, we have been carrying out extensive work to document lessons learned from the management of the pandemic, in which all employees have the opportunity to participate. Only then can we show that
Summary of the first quarter 2021
- Net sales amounted to
SEK 3,062m (3,128). Adjusted for currency effects, net sales increased by 1 percent. The divestment of the Norwegian operations inJuly 2020 has reduced sales by approximatelySEK 90m . Adjusted for the leap-day 2020, organic growth amounted to 3 percent. -
Lease adjusted EBITA, i.e. EBITA according to the previous accounting standard, was
SEK 75m (84), corresponding to a lease adjusted operating margin of 2.4 percent (2.7). The negative effects of the Corona-pandemic is estimated toSEK 50m , which has been offset by public reimbursements for certain costs in 2020. The profits were in relation to last year negatively impacted by calendar effects ofSEK 20m and negative non-recurring costs ofSEK 20m . -
Operating profit (EBITA) amounted to
SEK 183m (182), corresponding to an operating margin of 6.0 percent (5.8). -
The loss for the period amounted to
SEK -9m (3). Diluted earnings per share wereSEK -0.06 (0.02). Adjusted earnings per share after dilution wereSEK 0.26 (0.37). -
Free cash flow amounted to
SEK 138m (226). -
The total number of beds in operation in all
Attendo homes was 20,852 (20,391). Occupancy in all homes3 was 81 percent (82). Attendo has made a number of acquisitions in care for older people, home care and individual and family care.
Invitation to teleconference
Investors, analysts and journalists are invited to participate in a teleconference at
SE: +46 8 505 583 55
FI: +358 9 817 105 21
You can follow the presentation and the conference on the following page:
https://tv.streamfabriken.com/attendo-q1-202
The quarterly report and other information material will be made public on:
https://www.attendo.com/
For further information, please contact:
Phone: +46 705 09 77 61 I email: andreas.koch@attendo.com
Stefan Svanström, Head of Community Communications Attendo
Phone: +46 708 67 38 07 I email: stefan.svanstrom@attendo.com
This is information that
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