Proposal of dividend withdrawn and potential effects of covid-19 on Q1 2020 and full year 2020

Due to the increased uncertainty caused by the spread of covid-19 and severe economic effects on society, the board of directors in Ambea has decided to withdraw the dividend proposal to the annual general meeting, which was previously published in the year-end 2019 report.

Ambea expects the net sales and EBITA to be effected to a lesser extent by covid-19 during the first quarter 2020. During the second quarter, Ambea expects an increased uncertainty regarding the financial development in regards to the continued spread of covid-19. Ambea expects demand for its services to remain robust going forward, but that covid-19 will have short-term negative impact.

Ambea has ca 1,100 MSEK in undrawn credit facilities and sufficient liquidity to handle a temporary downturn of demand. To further ensure that Ambea has the maximum financial resources available during the coming period of increased uncertainty, the board of directors has decided to withdraw the previous proposal on dividend.

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 such information that Ambea AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 14:30 CET on 2 April 2020.

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.