Dentalum Operations AB (publ.) Q4 Interim Report

During 2020, Dentalum has acquired eleven dental clinics (of which five during the fourth quarter) and, as per December 31, 2020, the Group consists of twelve clinics operating in five regions in Sweden.

Fourth Quarter and FY 2020 – unaudited

• Reported operating revenues in FY 2020 amounts to SEK 57.9 million (SEK 1.8 million) of which SEK 31.9 million were generated during the fourth quarter. 
• EBITDA amounts to SEK 5.4 million for FY 2020 (SEK 0.37 million), of which SEK 3.0 million in the fourth quarter.
• Operating cash flow during FY 2020 amounts to SEK 5.3 million of which SEK 6.3 million in the fourth quarter.
• Net cash flow used in investing activities was SEK 168.6 million FY 2020, of which SEK 111.4 million was used in the fourth quarter.
• Cash flow generated from financing activities amounts to SEK 346.0 million in FY 2020, of which SEK 258.8 million related to the fourth quarter. Total net cashflow for FY 2020 was SEK 177.4 million, of which SEK 147.4 million was generated in the fourth quarter.
• Cash and cash equivalents amount to SEK 181.4 million and interest-bearing debt SEK 300.5 million as per December 31, 2020.

Significant Events during the fourth quarter

• On October 2, 2020, settlement of SEK 300 million senior secured bond was executed
• During October, the bond was listed on Frankfurt Stock Exchange Open Market
• On November 2, 2020, Dentalum acquired Sthlm Dental Clinics, a company operating three clinics in the Stockholm area, generating combined annual revenues of approximately SEK 38 million (2019)
• On December 1, 2020, Dentalum acquired City Dental, one of the largest private dental clinics in Sweden, generating annual revenues of approx. SEK 90 million (2019)
• On December 29, 2020, Dentalum expanded its operations to a new region through the acquisition of Vesalis Dental - a clinic located in Jönköping – generating annual revenues of approx. SEK 15 million (2019)

Significant Events after the reporting period

Since the outbreak of the second wave in mid-Q4, the number of Covid-19 cases has continued to increase. As a result, the Public Health Authority has imposed additional restrictions to mitigate the spreading of the virus. Despite the current market situation, none of the Dentalum clinics have applied for additional government support. Dentalum continues to monitor the situation closely in order to ensure a safe work environment for our co-workers and patients.

For further information, please contact

Max Dorthé Ladow, CEO and co-founder, +46 709 85 97 83, max.ladow@dentalum.com
Sofi Eriksson, CFO, +46 705 95 46 33, sofi.eriksson@dentalum.com 

For more information, please 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. For more information, please visit www.dentalum.com