Third Quarter 2016 Presentation. 11 November, 2016

Transcription

1 Third Quarter 2016 Presentation 11 November, 2016 Henrik Borelius, CEO Tomas Björksiöö, CFO

2 2 Financial summary of Q3: Continued stable development Net sales SEK 2.6bn (2.5), growth 5%, adjusted growth 7% Growth driven by stable performance in own operations Operating profit (EBITA) of SEK 340m (345). Adjusted for sale of real estate in Q the operating profit increased by SEK 10m Operating margin (EBITA) of 13.2% (14.1) Operating cash flow of SEK 101m (207) High number of beds under construction: 1,716

3 Business highlights: Growth through own operations and acquisitions Highlights by contract model Net sales by contract model Own operations Stable growth development of net sales, % 5 new own homes opened, 230 beds Construction of 14 new units started, 490 beds SEKm Q Q Chg (%) Own operations 1,603 1, Outsourcing Staffing (172*) (9.3*) Increased pace of beds under construction: 1,716 Outsourcing operations Net sales decreased compared to previous year as a result of contracts ended Contracts won with estimated annual sales of SEK 70m, lost contract volumes of SEK 100m YTD, won contracts exceed lost contracts Staffing operations Net sales increased, adjusted for deconsolidation of subsidiary SEKm TT deconsolidation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q Own operations Outsourcing Staffing Attendo * Adjusted for subsidiary Terveyden Tuottajat deconsolidation, 31 December

4 Own operations: Increased pace of beds under construction No. of beds under construction 1) New own units Attendo Aavatar, Lahti Finland Open July 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Q3 No. of beds in operation 2) Attendo Pellavakoti, Hollola Finland Open August 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Q3 Attendo Sirkunhovi, Joensuu Finland Open September

5 5 Market highlights: Continued strong demand for new nursing homes Market highlights Net sales by country Sweden Strong demand for own operations solutions Tendered outsourcing contract volumes increased slightly from a low level Swedish government investigation on how to restrict freedom of choice in schools, healthcare and care - One proposed restriction is a model for profit limitation - The proposal has been met with harsh criticism - Very low likelihood that the proposal will be implemented 41% Q % 2% 54% Finland Strong demand for own operations solutions Low activity in outsourcing market, but a number of combination contracts out for tendering Staffing stable but challenging SOTE reform move forward - private providers play an important role in the system - freedom of choice model Sweden Finland Norway Denmark

6 6 Growth driven by own operations SEKm Q Q Change (%) Net sales 2,568 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 6.7%

7 7 Stable operating profit vs. strong comparison quarter Q vs. Q3 2015: Net -5m + Improved occupancy in units that were under start-up during Q Improved planning and processes + Acquisitions - Real estate sale in Q Net change in outsourcing contract volumes - Lower contribution from home care

8 8 Operating cash flow affected by holiday payments 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 3,035 4,081 Net debt/ebitda 2.7x 4.0x

9 9 Quality & employees: focus on values and outdoor activities Outdoor activities and concerts Examples from third quarter 2016 Focus on older peoples need for movement and outdoors - Attendolunken at more than 50 local units involving more than 2,000 clients Implementation plan/methods Client survey Finnish tango concerts visited by 3,000 Projects Values older people and their relatives Attendo s structured quality work continues - New contracts won on quality Annual values week in the units - Keeping Attendo s values and vision alive Launch of share savings programme, Attendo+ - More than 500 Attendo employees participate in the share savings program Attendo s home care in Linköping, got the highest customer satisfaction in Sweden according to The National Board of Health and Welfare

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11 11 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.