Careium revises full-year outlook due to infrastructure transition delays in the UK and Sweden

Careium, the European champion in technology enabled care, has revised its full-year growth outlook downward due to infrastructure transition delays affecting its business more than expected, and it has clarified its profit outlook, reaffirming an increase in EBIT for 2024. The delays stem from the UK’s announcement of a two-year extension in March 2024 for its transition from analogue to digital landlines. Similarly, Sweden extended its 2G and 3G infrastructure by an additional year, as announced in May 2024.

New outlook:
For the full year 2024, Careium expects an organic sales growth of 5 to 10 percent. Alongside the growth in sales, we expect EBIT to increase, leading to an EBIT margin of 7.5 to 10 percent in 2024.

Previous outlook, issued on 15 February, 2024:
For the full year 2024, Careium expects an organic sales growth of 12 to 15 percent. Alongside the robust growth in sales, we expect EBIT to increase in 2024.

“Careium achieved 7.9% organic growth during the first half of 2024. However, due to current delays in customer orders and a particularly strong comparable period, we anticipate a slightly negative growth for the third quarter, followed by returning to clearly positive growth in the fourth quarter. Our outlook for increased EBIT in 2024 remains strong”, said President and CEO Christian Walén.
 

Careium will publish its third quarter results on October 24, 2024, and its fourth quarter results on February 13, 2025.