Ambea’s interim report July – September 2023

Positive trend continues

CEO comment: 

In the third quarter, the positive trend with margin improvements and stable organic growth continued. Demand was favourable and occupancy increased for Vardaga and Stendi in particular, which strengthened the margin. During the quarter, Vardaga opened a new nursing home, Villa Soldalen, in Halmstad. We also signed two new agreements for nursing homes in Täby, with a total of 140 places. I am pleased and proud that we can help society build new and modern care homes for higher quality of life, while this is also creating growth, development and jobs at Ambea.

Organic growth and increased earnings

In the third quarter, net sales rose 5 per cent to SEK 3,355 million (3,187). EBITA increased to SEK 383 million (359), corresponding to a margin of 11.4 per cent (11.3). Organic growth was 6 per cent. In the third quarter, Ambea reported its highest-ever net sales and earnings for a single quarter.

Third quarter July-September

• Net sales rose 5 per cent to SEK 3,355 million (3,187). Organic growth was 6 per cent and acquired/divested growth was -1 per cent.
• Operating profit (EBIT) totalled SEK 360 million (333).
• EBITA was SEK 383 million (359), representing a margin of 11.4 per cent (11.3).
• Profit for the period totalled SEK 206 million (193).
• Earnings per share were SEK 2.30 (2.04) before and after dilution.
• Cash conversion was 78.6 per cent (56.2).
• Free cash flow totalled SEK 427 million (252).

Presentation of the interim report 

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/pxn4okpp

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. https://register.vevent.com/register/BI36f6777743b34523bff372131d92fedf

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 02-11-2023 07:00 CET.

For more information, contact:

Susanne Vogt, head of IR
E-mail: ir@ambea.se

Ambea press contact
Telephone: +46 (0)10 33 00 501
E-mail: press@ambea.se

Ambea is Scandinavia’s leading competence -based care company. Ambea has 31,000 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.