Ambea’s interim report January- March 2022
Strong quarter with favourable growth.
CEO comment:
Despite troubling international events, demand for our services remains favourable and our employees continue to deliver high-quality care to our care receivers. During the first quarter of the year, the focus was on growth and we completed several acquisitions, opened new residential facilities and started large management contracts.
Occupancy continues to increase in our nursing homes and we opened three new units in Vardaga during the quarter, two of which were dormant during the pandemic. Both Nytida and Altiden also started new management contracts. During the period, both Nytida and Vardaga completed acquisitions that strengthen and complement their operations, and after the end of the quarter, we made additional acquisitions in Nytida and Klara.
Net sales rose 13 per cent to SEK 3,080 million (2,727). EBITA rose 28 per cent to SEK 195 million (152).
It has been an intense start to the year with a continued pandemic and high sick leave rates, but also many start-ups and acquisitions. Due to the hard work of our employees, their focus on our care receivers and the company’s strong operative leadership, we were able to meet the challenges. Moreover, we are all distressed and concerned about the war in Ukraine. Ambea will do whatever we can to reduce the human suffering, to take responsibility by redirecting our purchasing and by helping the authorities and municipalities to deal with the influx of refugees to the extent our services and support may be needed.
Despite troubling international events, we are looking forward to the rest of the year with confidence and to creating enough secure and sustainable care for everyone together with our clients.
First quarter January - March
- Net sales rose 13 per cent to SEK 3,080 million (2,727). Organic growth was 6 per cent, acquired growth was 5 per cent and the exchange rate effect was 2 per cent
- Operating profit (EBIT) totalled SEK 167 million (125)
- EBITA rose 28 per cent to SEK 195 million (152), representing a margin of 6.3 per cent (5.6)
- Profit for the period totalled SEK 66 million (46)
- Earnings per share were SEK 0.70 (0.49) before and after dilution
- Cash conversion was 75.8 per cent (77.5)
- Free cash flow totalled SEK 193 million (172)
Telephone conference:
In connection to the announcement, Ambea will host a telephone conference at 10:00 (CET) today. The presentation will be held in English and also available as webcast on www.ambea.com or direct link: https://edge.media-server.com/mmc/p/kww8j75u
To ensure that you are connected to the conference call, please dial in at least ten minutes before the start of the conference call to register your attendance. Code for registration: 16 89 025.
Dial-in numbers:
Sweden: +46 (0)8 50 69 21 80
United Kingdom: +44 (0)20 71 92 80 00
United States: +1 63 15 10 74 95
The quarterly earnings report and associated presentation will be available on www.ambea.com
This disclosure contains information that Ambea is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 04-05-2022 07:00 CET.
