Second Quarter 2016 Presentation. 28 July, 2016

Transcription

1 Second Quarter 2016 Presentation 28 July, 2016 Henrik Borelius, CEO Tomas Björksiöö, CFO

2 Financial summary: Stable development in net sales and operating profit Net sales SEK 2.5bn (2.4), growth 4.3%, adjusted growth 7.9% - Continued strong performance in own operations Operating profit (EBITA) of SEK 224m (186), Operating margin (EBITA) of 8.9% (7.7) - High occupancy and improved planning and processes Operating cash flow of SEK 157m (178) 2

3 Business highlights: Solid growth in own operations Highlights by contract model Net sales by contract model Own operations Strong development of net sales, % 3 new own homes opened, 130 beds Construction of 11 new units started, 480 beds SEKm Q Q Chg (%) Own operations 1,557 1, Outsourcing Staffing (191*) (1.0*) Acquisitions adding 80 beds in operation and an additional 370 beds under construction Record high number of beds under construction: 1,469 Increased number of home care clients, organic and acquired Outsourcing operations Net sales decreased compared to previous year as a result of contracts ended Contracts won with estimated annual sales of SEK 210m, lost contract volumes of SEK 20m Staffing operations Stable development of net sales, adjusted for TT SEKm TT deconsolidation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Own operations Outsourcing Staffing Attendo * Adjusted for subsidiary Terveyden Tuottajat deconsolidation, 31 December

4 Acquisitions in line with Attendo strategy 247 Hoivakodit Oy and Onnentäyttymys Oy, Finland Increasing the capacity within Care for older people Adding a large number of own operations in line with Attendo focus 80 beds in operation and 370 beds under construction strengthening present and future capacity. In addition, the rights to three upcoming construction projects. Samsa AB, Sweden (closing 1 July 2016, just after Q2): Increasing the capacity within Care, with homes for persons with disabilities (LSS), residential care homes (HVB) and a school for children with special needs 107 beds in operation in LSS and HVB homes and 5 beds under construction strengthening the capacity within highly specialized care. All in all an addition of 562 beds 4

5 Own operations: All-time high growth of beds under construction No. of beds under construction 1) New own units Attendo Sandstuguvägen, Botkyrka Sweden Open April 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q No. of beds in operation 2) Attendo Holstinpuisto, Jyväskylä Finland Open May 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Attendo Honkalinna, Kankaanpää Finland Open June ) Own nursing homes (care for older people) and own care homes (care for people with disabilities and social psychiatry), end of quarter 2) Own nursing homes (care for older people) and own care homes (care for people with disabilities, social psychiatry and individuals and families), end of quarter 5

6 Market highlights: Continued strong interest in own units Market highlights Net sales by country Sweden Strong demand for own operations solutions Continued reporting of nursing home deficit and need from public sector Increased time to fill new homes Tendered outsourcing contract volumes increased, continued challenging market 41% Q % 2% 54% Finland Strong demand for own operations solutions Increased time to fill new homes Outsourcing still challenging Staffing market stabilized SOTE reform proposal for new legislation: - new regional structure - definition of service content for private providers - freedom of choice model Social contract signed to reduce unit labour cost Sweden Finland Norway Denmark 6

7 Stable organic growth and operating margin (EBITA) SEKm Q Q Change (%) Net sales 2,525 2, * Organic Acquired Currency Operating profit (EBITA) Operating margin (EBITA ) EBIT Financial net Income tax Profit for the period Diluted earnings per share, SEK * Adjusted for deconsolidation of subsidiary Terveyden Tuottajat (TT) and currency effect, net sales increased 7.9% 7

8 Continued improvement in operating profit (EBITA) Net +38m + Improved occupancy in units that were under start-up during Q Improved planning and processes + Seasonal effect - Outsourcing contracts ended 8

9 Stable operating cash flow and significantly reduced net debt SEKm Q Q Operating profit (EBITA) Change in working capital, paid tax and non cash items Cash flow after change in working capital Net investments in tangible and intangible assets Operating cash flow Interest received/paid Free cash flow Net of acquisitions / divestments Cash flow from financing Total cash flow Net debt 2,788 4,151 Net debt/ebitda 2.5x 4.3x 9

10 Continued focus on quality and employee development Attendo s quality definition Examples from second quarter Projects Risk analysis Implementation plan/methods Systematic quality work Internal audit Satisfied individuals Client survey Systematic quality work based on continuous improvement Best available knowledge Specific events Values External inspections Attendo s structured quality work continues - new contract wins on quality/digitalization - good progress in Attendo s internal quality audit Implementation plan/methods Client survey Keeping Attendo s values and vision alive Projects Values - values week in the units, supported by Attendo s value coaches Annual quality report published by Attendo Finland. Scandinavian reports were published during Q1 Project to ensure access to competence: Philippine nurses successfully trained and employed in Finland followed by a similar project in Sweden 10

11 Q&A 11

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13 Disclaimer This presentation has been prepared by Attendo AB (publ) (the Company ) solely for use at this presentation and is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. The presentation does not constitute an invitation or offer to acquire, purchase or subscribe for securities. By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations. This presentation is not for presentation or transmission into the United States or to any U.S. person, as that term is defined under Regulation S promulgated under the Securities Act of 1933, as amended. This presentation contains various forward-looking statements that reflect management s current views with respect to future events and financial and operational performance. The words believe, expect, anticipate, intend, may, plan, estimate, should, could, aim, target, might, or, in each case, their negative, or similar expressions identify certain of these forward-looking statements. Others can be identified from the context in which the statements are made. These forward-looking statements involve known and unknown risks, uncertainties and other factors, which are in some cases beyond the Company s control and may cause actual results or performance to differ materially from those expressed or implied from such forward-looking statements. These risks include but are not limited to the Company s ability to operate profitably, maintain its competitive position, to promote and improve its reputation and the awareness of the brands in its portfolio, to successfully operate its growth strategy and the impact of changes in pricing policies, political and regulatory developments in the markets in which the Company operates, and other risks. The information and opinions contained in this document are provided as at the date of this presentation and are subject to change without notice. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, the fairness, accuracy or completeness of the information contained herein. Accordingly, none of the Company, or any of its principal shareholders or subsidiary undertakings or any of such person s officers or employees accepts any liability whatsoever arising directly or indirectly from the use of this document. 13