Comments from Martin Tivéus , President and CEO
"We are continuing to deliver according to plan on our turnaround programme in
Turnaround programme in Finland continuing as planned
We are still delivering as planned on the long-term turnaround programme we initiated in
Lease adjusted operating profit (EBITA) in
Gradual improvement of new sales in Sweden
Following the year of the pandemic that resulted in a historically low rate of new customer move-ins to nursing homes in
Net sales in Attendo Scandinavia declined by 4 percent as a consequence of the divestment of the Norwegian operations and lower occupancy in relation to the comparison quarter. Lease adjusted EBITA amounted to
Improved overall results driven by Finland
Organic growth was 5 percent, driven primarily by higher customer inflow in
Care that makes a difference
Our overall goal is to provide good care that will lead to higher satisfaction and better health for our customers. The ambition is to have the most satisfied customers at every location where we operate. Towards that end, we have spent the last year further developing our common working method - the
The aftermath of the pandemic
As the largest private care provider in the Nordics, it is important to
To accomplish that end, we initiated a comprehensive internal project that includes all employees in which we are discussing and documenting lessons learnt from managing the pandemic.
We have also engaged outside experts for the evaluation in certain areas. For example, Sirona Health Solutions analysed excess mortality throughout the pandemic and at all nursing homes in municipalities where
The pandemic has been an extraordinary challenge for
Summary of the second quarter 2021- Net sales amounted to
SEK 3,207m (3,112). Organic growth amounted to 4.8 percent. -
Lease adjusted EBITA, i.e. EBITA according to the previous accounting standard, was
SEK 53m (42), corresponding to a lease adjusted operating margin of 1.7 percent (1.3). The negative effects of the Covid pandemic on profits are estimated to SEK 40m (60), which has been partly offset by government compensation of SEK 23m for certain additional costs in 2020. The comparison quarter includes a capital gain of SEK 41m . -
Operating profit (EBITA) amounted to
SEK 162m (153), corresponding to an operating margin of 5.1 percent (4.9). -
Impairments of goodwill and right-of-use assets were recognised in the second quarter of 2020, which reduced profit for the comparison quarter by
SEK -971m . -
The loss for the period amounted to
SEK -19m (-975). Diluted earnings per share were SEK -0.12 (-6.06). Adjusted earnings per share after dilution were SEK 0.19 (0.11). -
Free cash flow amounted to
SEK 72m (198).
Summary of the January-June period - Net sales amounted to
SEK 6,269m (6,240). Organic growth amounted to 3.4 percent. -
Lease adjusted EBITA, i.e. EBITA according to the previous accounting standard, was
SEK 128m (126), corresponding to a lease adjusted operating margin of 2.0 percent (2.0). The negative effects of the Covid pandemic on profits are estimated to SEK 90m (80), which has been partly offset by government compensation of SEK 73m for certain additional costs in 2020. The comparison period includes a capital gain of SEK 41m . -
Operating profit (EBITA) amounted to
SEK 345m (335), corresponding to an operating margin of 5.5 percent (5.4). -
The loss for the period amounted to
SEK -28m (-972). Diluted earnings per share were SEK -0.18 (-6.04). Adjusted earnings per share after dilution were SEK 0.45 (0.48). -
Free cash flow amounted to
SEK 210m (424). -
The total number of beds in operation in
Attendo homes was 20,858 (20,708) at the end of the period. Occupancy in homes was 83 percent (80).
Telephone conference
- Net sales amounted to
SEK 6,269m (6,240). Organic growth amounted to 3.4 percent. -
Lease adjusted EBITA, i.e. EBITA according to the previous accounting standard, was
SEK 128m (126), corresponding to a lease adjusted operating margin of 2.0 percent (2.0). The negative effects of the Covid pandemic on profits are estimated toSEK 90m (80), which has been partly offset by government compensation ofSEK 73m for certain additional costs in 2020. The comparison period includes a capital gain ofSEK 41m . -
Operating profit (EBITA) amounted to
SEK 345m (335), corresponding to an operating margin of 5.5 percent (5.4). -
The loss for the period amounted to
SEK -28m (-972). Diluted earnings per share wereSEK -0.18 (-6.04). Adjusted earnings per share after dilution wereSEK 0.45 (0.48). -
Free cash flow amounted to
SEK 210m (424). -
The total number of beds in operation in
Attendo homes was 20,858 (20,708) at the end of the period. Occupancy in homes was 83 percent (80).
Telephone conference
A telephone conference will be held on
SE: +46 8 505 583 53
FI: +358 931 583 775
You can follow the presentation and the conference on the following page:
https://tv.streamfabriken.com/attendo-q2-2021
The quarterly report and related information material can be found 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
attendo.com
https://news.cision.com/attendo/r/attendo-s-report-for-the-second-quarter-2021---improvement-driven-by-finland,c3387973
https://mb.cision.com/Main/13398/3387973/1447276.pdf
https://mb.cision.com/Public/13398/3387973/904c51c13584b01e.pdf
https://mb.cision.com/Public/13398/3387973/9303e7f52c06a4a4.pdf
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