Ambea’s interim report April – June 2024
![](https://mb.cision.com/Public/5048/4024953/a97a64ffd4da297f_800x800ar.jpg)
Continued earnings improvement, new residential facilities and acquisitions.
CEO comments.
In Vardaga, the positive earnings growth continued, driven by increased occupancy and operational improvements. During the quarter, we opened two new residential facilities and welcomed new care receivers to Villa Djäknegatan in Uppsala and Villa Bromsten in Stockholm. During the period, we also signed agreements for two new nursing homes located in Stockholm and Växjö. The homes are scheduled to open in 2027 and add 240 new elderly care places.
The positive trend also continued for Stendi. The increased earnings were due to stable and high occupancy, contractual price adjustments, operational improvements and a positive calendar effect.
Nytida made two acquisitions during the quarter, Alpklyftan and Evus Omsorg, and acquired Sorbus Vårdboende after the end of the quarter. These three companies complement and strengthen our offering, and I would like to welcome all care receivers and employees. During the quarter, we expanded our day services in Gothenburg by 30 care places and signed three new rental contracts for a total of 52 beds.
Strong cash flow and new share buyback programme
Net sales rose 6 per cent to SEK 3,519 million (3,310). The increase was due to good organic growth. EBITA was SEK 271 million (191) and the operating margin was 7.7 per cent (5.8). Free cash flow increased to SEK 458 million (369), creating conditions for continued active capital allocation. During the period, we completed one share buyback programme and launched a new programme with a mandate to repurchase a maximum of 3,000,000 shares in the period up to the 2025 Annual General Meeting.
Second quarter April–June
- Net sales rose 6 per cent to SEK 3,519 million (3,310). Organic growth was 6 per cent.
- EBITA was SEK 271 million (191), representing a margin of 7.7 per cent (5.8). The comparative period was impacted by two non-recurring items of SEK -16 million net. Excluding non-recurring items, EBITA rose SEK 64 million.
- Operating profit (EBIT) totalled SEK 248 million (167), representing a margin of 7.0 per cent (5.0).
- Profit for the period totalled SEK 95 million (46).
- Earnings per share were SEK 1.10 (0.51) before dilution and SEK 1.09 (0.51) after dilution.
- Cash conversion was 102.5 per cent (103.1).
- Free cash flow totalled SEK 458 million (369)
Webcast/telephone conference
In connection to the announcement, Ambea will host a telephone conference today at 10:00 (CET). The presentation will be held in English and available as webcast on www.ambea.com or direct link: https://edge.media-server.com/mmc/p/h8kk2tyq
Telephone conference
To participate the conference call, register before the call using the link below. Upon registration you will receive a dial-in number and a unique personal PIN code. To ensure that the connection to the conference call is working, please call ten minutes before the conference call is due to start.
Registration:
https://register.vevent.com/register/BI5672029a02d84e92b922eb0dd33af813
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 16-08-2024 07:00 CET.
For more information, contact:
Susanne Vogt, head of IR
E-mail: ir@ambea.se
Ambea media contact
Telephone: +46 (0)10 33 00 501
E-mail: press@ambea.se
Ambea is Scandinavia’s leading competence -based care company. Ambea has over 30,000 employees who are creating a good life for every care receiver in our 950 units. 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. Ambeas head office is located in Solna, Sweden. Ambea is listed on Nasdaq Stockholm.