Bravida presents investigation regarding overbilling
On April 4, 2024, Bravida initiated an investigation following Region Skåne’s decision to terminate its framework agreements with Bravida Sverige AB. Bravida has reviewed all contracts in the 11 branches that have had Region Skåne as a client.
• The investigation reveals that intentional overbilling occurred in the branch that Region Skåne has identified.
• In the other 10 branches, no intentional overbilling has occurred.
• Bravida will file a police report.
• Bravida has also conducted a broader review of other clients with framework agreements in the public sector in Sweden. There are no signs of any deliberate overbilling.
The branch in question, Malmö El Service, has for three years overbilled Region Skåne at a value of roughly 1,5 MSEK. The branch has also overbilled another customer in Skåne to a value of up to approximately 0,6 MSEK.
"What has occurred within one of our branches in Region Malmö is serious and is contrary to our guidelines, processes, and values. Our customers should feel confident that they are being billed correctly. Since overbilling can be a criminal act, we will file a police report,” comments Mattias Johansson, CEO and Group President at Bravida.
Bravida has also conducted a broader review of other agreements with framework agreement customers in the public sector in Sweden. We have examined deviations between billed and registered hours in the same way as in Skåne.
All framework agreements with an annual revenue of at least 10 MSEK have been under examination. It concerns 26 agreements with a total revenue of roughly 470 MSEK over the past year. This equals roughly 50 percent of our total revenue from our framework agreements with public sector in Sweden. Of a total of 25 816 work orders, we found 75 cases of discrepancies greater than 11 hours. This corresponds to 0.3 percent of the total number of orders reviewed, and there are acceptable explanations for these.
"We have not found evidence of intentional overbilling in any branch other than Malmö El Service", comments Mattias Johansson, CEO and Group President at Bravida.
Region Skåne has filed a police report against Bravida and The Swedish Economic Crime Authority has initiated a preliminary investigation. Bravida assists and cooperates with the police and prosecutors in their work where applicable.
The report ”Investigation of Bravida Region Malmö” is available to read below.
Invitation to presentation
On April 29 at 15.00, the results of the investigation will be presented in a live webcast. The presentation will be given by Mattias Johansson, CEO, Åsa Neving, CFO, and Liselotte Stray, Head of Group Communications.
Link to the webcast
https://ir.financialhearings.com/bravida-webcast-april-2024
For analysts, there is an opportunity to ask questions during the presentation via a teleconference. Contact Peter Norström, IR Manager, (peter.norstrom@bravida.se) for further information.
Media and press are welcome to listen to the presentation, and there is an opportunity to schedule a time for an interview, contact Liselotte Stray, Head of Group Communications, (liselotte.stray@bravida.se) to express your interest.
For more information, please contact:
Liselotte Stray
Head of Group Communications
liselotte.stray@bravida.se
+46 76 852 38 11
This disclosure contains information that Bravida Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29-04-2024 08:00 CET.
Good properties make a difference – that’s why Bravida exists. As the Nordic region’s leading supplier of end-to-end technical solutions in service and installation, we help our customers create effective and sustainable properties.
Bravida’s long-term goal is to be carbon-neutral throughout the value chain by 2045. We have 14,000 employees and a presence in about 190 locations in Sweden, Norway, Denmark and Finland. Bravida’s shares are listed on Nasdaq Stockholm. www.bravida.com