Correction: Dentalum Operations AB (publ) half year report, January -June 2022

In the interim report published yesterday, errors were found regarding the company's cash flow statements and pro forma net leverage ratio. The The Group's cash flow for the second quarter amounts to SEK -46,709 thousand and the parent company's cash flow for the same period amounts to SEK -34,565 thousand. The pro forma net leverage ratio for the period LTM 06/22 amounts to 2.7. The corrected report is attached in its entirety.

Maintained profitability and continued growth

Second quarter, April - June 2022

• Operating revenue increased by 72.8 % to SEK 85.8 million (49.7).
• EBITDA amounted to SEK 24.4 million (12.6)
• Net earnings amounted to SEK 4.8 million (-0.4).
• Operating cash flow amounted to SEK 34.2 million (12.6). Net cash flow totalled SEK – 46.7 million (-64.0).
• Total equity amounts to SEK 262.0 million (101.5), cash balance of SEK 198.6 million (110.5) and interest-bearing debt of SEK 397.7 million (300.3).
• During the period Dentalum acquired three (3) clinics with annual revenue of SEK 81 million.
• Dentalum strengthened the team with the recruitment of Matts Tannerfeldt as COO.
• The Annual General Meeting re-elected Mikael Lönn, Robin Rutili and Marcus Ladow as members of Board of the Directors as well as to elect Gunilla Öhman and Lars Kvarnsund as new members. Mikael Lönn was appointed as Chairman of the Board.

First six months, January - June 2022

• Operating revenue increased by 78 % to SEK 191.6 million (107.9).
• Net earnings for the first six months amounted to SEK 8.2 million (-3.8).
• Cash flows from operations amounted to SEK 29.3 million (19.1). Net cash flow totalled SEK – 71.0 million (- 70.9).

Significant Events after the reporting period

• Dentalum expanded in the north of Sweden via the acquisitions of Skellefteå Tandvård’s two clinics and Tandcenter Umeå and Lövånger
• Dentalum acquired NOVO Dental in Sundbyberg, Stockholm.

“Dentalum's operating revenue in Q2 amounted to 105 MSEK, which is an increase by 23% compared to Q1. The Group EBITDA increased by 16%, amounting to 24 MSEK. Our 24 clinics generated on pro forma basis revenues of 409 MSEK with an EBITDA of 102 MSEK, yielding a healthy EBITDA-margin of 25%.

Step by step we are building Dentalum towards our vision to become a leading dental group with a world class organisation.”, says CEO Max Dorthé Ladow in a comment.

For further information, please contact:

Max Dorthé Ladow, CEO and Co-founder, +46 709 85 97 83, max.ladow@dentalum.com 

Visit www.dentalum.com

Dentalum Operations AB (publ) is a fast-growing dental service organisation focusing on acquiring profitable and sustainable dental clinics in the Nordics. Dentalum’s philosophy is built on local heritage, where the clinic owners continue as entrepreneurs operating the clinics with a high degree of independence post-acquisition. Dentalum’s goal is to build a world class organisation by creating a strong corporate culture, positive work environment and growth opportunities which motivate and engage our coworkers to provide the highest quality of care and a remarkable service to our patients. 

This information is information that Dentalum Operations 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, on August 31, 2022, at 08:15 CET.