Ambea interim report January – March 2017
CEO comment :
"The strategy of focusing on businesses with a high care content and increasing the share of sales under own management through acquisitions and organic growth contributed to the strong sales and EBITA trend seen during the quarter. The Group’s adjusted EBITA developed strongly as a result of an increased share of units under own management and thus an improved occupancy rate and customer mix. Seasonal variations and the deferral of the salary review also had a positive effect on the quarter. During the first quarter, growth under own management was strong in all of our segments and the share of sales under own management amounted to 62 per cent (53) in the first quarter. While the improved net sales in Nytida and Norway were driven by acquisitions, the increased occupancy in newly opened units was the main driver in Vardaga."
Highlights of the first quarter:
- Net sales increased 19 per cent to SEK 1,422 million (1,197)
- Adjusted EBITA, excluding items affecting comparability totalling SEK 24 million (9), increased by 57 per cent to SEK 110 million (70). The adjusted EBITA margin was 7.7 per cent (5.9)
- Profit for the period was SEK 33 million (22)
- Earnings per share amounted to SEK 0.5 (0.3)
- Operating cash flow amounted to SEK 86 million (-6)
- Free cash flow amounted to SEK 24 million (-17)
Ambea will host a presentation with the possibility to attend through a telephone conference at 10:00 (CET) today. The presentation will be held in English and will also be available as webcast on:
To ensure that you are connected to the conference call, please dial in a few minutes before the conference call to register your attendance and ask for "Ambea".
Sweden: +46 (0) 8 5033 6539
UK: +44 (0) 20 3427 1908
US: +1646 254 3388
The first quarter report, presentation and other material is available on www.ambea.com
For more information, contact:
Louise Tjeder, Director IR and Strategy
Telephone: +46 731 43 17 68
Nanna Wedar, Director Communications
Telephone: +46 70 166 58 88
This report constitutes the type of information that Ambea AB (publ) is obligated to disclose pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. This information was submitted for publication, through the agency of the contact person set out above, on 17 May 2017.
Ambea is present within care services and has around 14,000 employees. Ambea offers services within disabled care, individual and family care and elderly care, with a focus on residential care and own management. We strive to be the quality leaders in all we do – and our vision is to make the world better, one person at a time. As of December 31, 2016, Ambea had approximately 6,200 beds and 1,300 school-/daily activity-placements in around 460 units across Sweden and Norway. Total sales and adjusted EBITA for the 2016 financial year amounted to SEK 5,409 million and SEK 456 million. The company was founded in 1996 and its head office is located in Solna, Sweden. Ambea is listed on Nasdaq Stockholm. www.ambea.com