Ambea’s interim report July-September 2019

CEO comment:

In the third quarter, Ambea continued to deliver sales growth and improved earnings year-on-year. The transition in Norway proceeded as planned and Stendi’s earnings improved compared with the preceding quarters of this year. The integration of Aleris Omsorg is now complete and we can focus on efficiency improvements.

Net sales for the third quarter amounted to SEK 2,843 million (1,541). Own Management accounted for 73 per cent (69) of net sales. Adjusted EBITA rose 52 per cent year-on-year to SEK 312 million (205). Adjusted for the effect of IFRS 16, adjusted EBITA rose 39 per cent to SEK 285 million.

Highlights of the third quarter 2019:

• Net sales rose 84 per cent to SEK 2,843 million (1,541)
• Operating profit (EBIT) increased to SEK 270 million (184)
• EBITA increased 45 per cent to SEK 297 million (205), corresponding to a margin of 10.4 per cent (13.3)
• Adjusted EBITA, excluding items affecting comparability increased 52 per cent to SEK 312 million (205)
• The adjusted EBITA margin was 11.0 per cent (13.3)
• Items affecting comparability in the quarter amounted to SEK -15 million (0), where the year’s items were attributable to integration costs and synergy realisation in connection with the acquisition of Aleris Omsorg
• Profit for the period was SEK 157 million (128)
• Earnings per share amounted to SEK 1.66 (1.71) before and after dilution
• Operating cash flow amounted to SEK 318 million (79)
• Free cash flow totalled SEK 190 million (54)

Telephone conference:

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/mmc/p/joeuz7cj

Dial-in information:
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 9857527.

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 Group Business Control & Investor Relations 
Telephone: +46 (0)708 64 07 52
E-mail: ir@ambea.se

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

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 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.