Dedicare adjusts segment reporting
Dedicare is changing the allocation of costs in its segment structure from its First-quarter Interim Report 2024 onwards. In the previous segment reporting, shareholder-related expenses were allocated between all segments. Effective the first quarter 2024, all these expenses will be reported in the Group-wide segment. Shareholder expenses are costs arising due to ownership/management of shares and the company’s listing on Nasdaq. Dedicare’s opinion is that all these expenses should be charged to the Group-wide segment to give a fairer view. Segment reporting for 2023 has been recalculated for each period and presented in the following table (accumulated figures per period).
From the first quarter 2024, the segments are Sweden, Norway, Denmark, UK (previously called New Markets) and Group-wide.
Sweden: the recruitment and staffing business operation for the Swedish market and allocated central expenses for support functions such as Group Management, Accounting & Finance, Legal, Corporate Communication, Business Development, HR, IT Management and cost of premises. The allocation is pursuant to an allocation key based on the segment’s sales or FTE. Also includes the segment’s transition to IFRS 16.
Norway: the recruitment and staffing business operation for the Norwegian market and allocated central expenses for support functions such as Group Management, Accounting & Finance, Legal, Corporate Communication, Business Development, HR, IT Management and cost of premises. The allocation is pursuant to an allocation key based on the segment’s sales or FTE. Also includes the segment’s transition to IFRS 16.
Denmark: the recruitment and staffing business operation for the Danish market and allocated central expenses for support functions such as Group Management, Accounting & Finance, Legal, Corporate Communication, Business Development, HR, IT Management and cost of premises. The allocation is pursuant to an allocation key based on the segment’s sales or FTE. Also includes the segment’s transition to IFRS 16.
UK: the recruitment and staffing business operation for the UK market and allocated central expenses for support functions such as Group Management, Accounting & Finance, Legal, Corporate Communication, Business Development, HR, IT Management and cost of premises. The allocation is pursuant to an allocation key based on the segment’s sales or FTE. Also includes the segment’s transition to IFRS 16.
Group-wide: Group-wide items, like shareholder-related expenses, amortisation of surplus values from acquisitions, amortisation related to business transfers, intragroup transactions, eliminations, etc. Also includes the segment’s transition to IFRS 16.
The reason for this alteration of segment reporting is that Dedicare has amended its business model from the parent company previously being operational to now provide support functions for other group companies and deal with shareholder-related matters. This is part of the group’s growth strategy, and thus centralised in group-wide functions to streamline the group’s administration.
This information is mandatory for Dedicare AB (publ) to publish pursuant to the EU Market Abuse Regulation (MAR) and the Swedish Securities Markets Act. This information was submitted for publication through the agency of the following contact at 3 p.m. CET on 25 April 2024.
Krister Widström, CEO & MD, +46 (0)70 526 7991
Anette Sandsjö, CFO, +46 (0)73 343 4468
Ringvägen 100, entrance E, 10th floor
118 60 Stockholm
Sweden
Tel: +46 (0)8 555 65600
www.dedicaregroup.com
Corp. ID no.: 556516–1501
About Dedicare
At Dedicare, we’re passionate about adding expertise to healthcare, life science and social work. We’re driven by making a responsible and sustainable contribution to people's health, development and quality of life. Dedicare was founded in 1996 and is the Nordic region's largest recruitment and staffing provider. We have operations in Sweden, Norway, Denmark and Finland, and have also had a presence in the UK and Ireland since autumn 2022. Dedicare is listed on Nasdaq Stockholm and had sales of SEK 2.0 billion in 2023. Each day, we have over 2,000 employees on assignment. We see Europe as our future market, and in time, our vision is to grow into one of Europe's leading recruitment and staffing providers in healthcare, life science and social work.
Read more about Dedicare at dedicaregroup.com
