Ambea interim report July-September 2018
Like the preceding quarter, the third quarter showed strong profitability and growth. The adjusted EBITA margin improved one percentage point year-on-year, and Ambea continued to deliver positive growth in own management. The acquisition of Aleris’ care operations will broaden our growth platform, and make us the largest care provider in Sweden, Norway and Denmark with a strong pipeline of own management beds. Integration and synergy realization planning is ongoing pending competition authorities approval ahead of closing of the transaction, which is expected in Q1 2019.
Net sales in the third quarter amounted to SEK 1,541 million (1,488). Own Management accounted for 69 per cent (65) of net sales. Adjusted EBITA, excluding items affecting comparability, increased compared to the previous year to SEK 205 million (183).
During the year, we have laid the foundation for increased growth by establishing a large own management pipeline and by undertaking several minor acquisitions. Following the acquisition of Aleris’ care operations, we are now looking forward to using our operational model and growth strategy in more geographies and segments.
Highlights of the third quarter 2018:
- Net sales rose 4 per cent to SEK 1,541 million (1,488)
- Operating profit (EBIT) increased to SEK 184 million (169)
- EBITA increased 11 per cent to SEK 205 million (184), corresponding to a margin of 13.3 per cent (12.4)
- Adjusted EBITA, excluding items affecting comparability increased 12 per cent to SEK 205 million (183).
- The adjusted EBITA margin was 13.3 per cent (12.3)
- Items affecting comparability in the quarter amounted to SEK 0 million (-1), where the previous year’s items were attributable to the previously divested operations in personal assistance
- Profit for the period was SEK 128 million (119)
- Earnings per share amounted to SEK 1.89 (1.75) before and after dilution
- Operating cash flow amounted to SEK 78 million (57)
- Free cash flow totaled SEK 54 million (49)
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: https://edge.media-server.com/m6/p/sqyzc3bt
To ensure that you are connected to the conference call, please dial in at least five minutes before the conference call starts to register your attendance and enter participation code 9602775.
Sweden: +46 (0)8 5065 3942
UK: +44 (0)330 336 9411
US: +1 929-477-0402
The interim report, presentation and other material are available on www.ambea.com
For more information, contact:
Jacob Persson, Head of Investor Relations
Telephone: +46 (0)708 64 07 52
Ambea press contact
Telephone: +46 (0)10 33 00 501
This information is information that Ambea AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on November 13, 2018 at 07:00 CET.
Ambea, is present in care services, and has approximately 15,000 employees. We offer services in disabled care, individual and family care, and elderly care with a focus on residential care and own management. We aim to be the quality leader in all that we do and our vision is to make the world a better place, one person at a time. Total revenue and adjusted EBITA for the 2017 financial year amounted to SEK 5,816 million and SEK 498 million. The company was founded in 1996 and its head office is located in Solna, Sweden. Ambea is listed on Nasdaq Stockholm.