Ambea’s interim report January-March 2019
In the first quarter, high rates of occupancy and effective cost control in existing Ambea operations continued, while the integration of Aleris Omsorg started well. Our initial view of the potential in the acquisition of Aleris Omsorg was confirmed during the quarter, and the integration is going better than planned in both Sweden and Denmark. In Norway, a major operational restructuring project has commenced to introduce Ambea’s processes into administration, governance and business operations, and to transition from temporary consultants to permanent employees.
Net sales rose in the first quarter to SEK 2,516 million (1,467). Own Management accounted for 72 per cent (67) during the quarter. Adjusted EBITA rose 35 per cent year-on-year to SEK 147 million (109). Adjusted for effects from IFRS 16, the adjusted EBITA increased by 17 per cent to 128 MSEK.
Highlights of the first quarter 2019:
- Net sales rose 72 per cent to SEK 2,516 million (1,467)
- Operating profit (EBIT) decreased to SEK 62 million (86)
- EBITA decreased 14 per cent to SEK 90 million (105), corresponding to a margin of 3.6 per cent (7.2)
- Adjusted EBITA, excluding items affecting comparability increased 35 per cent to SEK 147 million (109)
- The adjusted EBITA margin was 5.8 per cent (7.4)
- Items affecting comparability in the quarter amounted to SEK -57 million (-4), where the year’s items were attributable to the restructuring and acquisition related costs from the acquisition of Aleris Care
- Profit for the period was SEK 9 million (60)
- Earnings per share amounted to SEK 0.13 (0.88) before and SEK 0.13 (0.87) after dilution
- Operating cash flow amounted to SEK 214 million (120)
- Free cash flow totalled SEK 34 million (66)
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/9uiyo9m8
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 829 64 86.
Sweden: +46 (0)8 506 921 80
UK: +44 (0)20 71 92 80 00
US: +1 631 510 7495
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 May 8, 2019 at 07:00 CET.
Ambea is the market leading care provider in Sweden, Norway and Denmark respectively, with over 900 care units and around 26,000 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. The company was founded in 1996 and its head office is located in Solna, Sweden. Ambea is listed on Nasdaq Stockholm.