Careium revises full-year outlook due to infrastructure transition delays in the UK and Sweden

Careium, the European champion in technology enabled care, has revised its full-year growth outlook downward due to infrastructure transition delays affecting its business more than expected, and it has clarified its profit outlook, reaffirming an increase in EBIT for 2024. The delays stem from the UK’s announcement of a two-year extension in March 2024 for its transition from analogue to digital landlines. Similarly, Sweden extended its 2G and 3G infrastructure by an additional year, as announced in May 2024.

New outlook:
For the full year 2024, Careium expects an organic sales growth of 5 to 10 percent. Alongside the growth in sales, we expect EBIT to increase, leading to an EBIT margin of 7.5 to 10 percent in 2024.

Previous outlook, issued on 15 February, 2024:
For the full year 2024, Careium expects an organic sales growth of 12 to 15 percent. Alongside the robust growth in sales, we expect EBIT to increase in 2024.

“Careium achieved 7.9% organic growth during the first half of 2024. However, due to current delays in customer orders and a particularly strong comparable period, we anticipate a slightly negative growth for the third quarter, followed by returning to clearly positive growth in the fourth quarter. Our outlook for increased EBIT in 2024 remains strong”, said President and CEO Christian Walén.
 

Careium will publish its third quarter results on October 24, 2024, and its fourth quarter results on February 13, 2025.

For more information, please contact:

Christian Walén, president and CEO, +46 (0) 739 09 59 65

E-mail : ir@careium.com

This information is information that Careium AB is obliged to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication by the contact persons above on Friday 13 September 2024, at 8.00am (CEST).

Careium is today one of the leading players in technology-enabled care in Sweden, Norway, the United Kingdom and the Netherlands. This position means that Careium is one of the leading players in Europe that provides technology-enabled care. Careium's innovative solutions improve the safety, quality of life and independence of seniors both inside and outside the home. For the care provider, the Company's solutions mean increased efficiency and the opportunity to invest resources in more valuable activities. Careium is one of the few players that can offer the entire chain with security alarms, sensors (fall sensors, smoke detectors, motion detectors, etc.), accessories (cameras, electronic locks, robotic medication assistive devices, etc.) and secure communication with alarm response: we offer a complete digital alarm chain. FNCA Sweden AB is appointed certified adviser.