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Humana reports second quarter and half-year 2022 results

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Acquisition growth and room to improve margins

Second quarter, April–June 2022

  • Operating revenue amounted to SEK 2,241 million (2,058), an increase of 8.9 percent, which was mainly due to acquisitions, previously opened units within Elderly Care and continued good growth in Norway.
  • Organic growth was 2.2 percent (4.2). Organic growth was driven by Elderly Care, Norway and Finland, while fewer assistance hours within Personal Assistance and closed units in Individual & Family inhibited growth.  
  • Operating profit amounted to SEK 65m (107), a decline of 39.4 percent. The decrease is mainly due to continuous shortage of staff in all business areas, inflation and ramp-up costs for newly started units.
  • Net profit after tax for the period amounted to SEK 18m (57).
  • Basic and diluted earnings per share for the period amounted to SEK 0.37 (1.18).
  • Operating cash flow amounted to SEK 237m (251). The decrease is related to lower profit. 

Six-month period, January–June 2022

  • Operating revenue was SEK 4,388m (4,044), an increase of 8.5 percent. Organic growth was 2.2 percent.
  • Operating profit amounted to SEK 141m (219), a decrease of 35.6 percent.
  • Net profit after tax for the period amounted to SEK 47m (120).
  • Basic and diluted earnings per share for the period amounted to SEK 0.97 (2.45).
  • Operating cash flow amounted to SEK 351m (448). 

President and CEO Johanna Rastad comments on the quarter

In the second quarter of the year, we see a cautious recovery following the pandemic, inhibited by continued staffing challenges. Significant time and effort is placed into ensuring that we have the competence and capacity to provide a safe and good service to the individuals in our care.

During the quarter, we welcomed three important acquisitions that complement our operations. Integration of these, together with systematic improvements in our underlying operations, give us an even better foundation to build upon.

Read the full comment in the report.

Conference call

A web-based teleconference will be held on 18 August 2022 at 09:00 CET at which President and CEO Johanna Rastad will present the report and answer questions. To participate, call:

SE: +46 8 5051 63 86
UK: +44 20 3198 4884
US: +1 412 3176 6300

Enter pin code:  8152084#

This information is information that Humana AB 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 below, on 18 August 2022 at 08:00 CET

For more information, please contact:

Andreas Westund
Interim CFO
070 712 30 20, andreas.westlund@humana.se

Ewelina Pettersson 
Ansvarig investerarrelationer 
073 074 79 12, ewelina.pettersson@humana.se

Humana is a leading Nordic care company providing services within individual and family care, personal assistance, elderly care and special service housing in accordance with LSS. Humana has 18,000 employees in Sweden, Norway, Finland and Denmark providing care for 9,000 individuals and working to achieve the vision “Everyone is entitled to a good life”. In 2021, Humana’s operating revenue was SEK 8,188m. Humana is listed on Nasdaq Stockholm and the company’s headquarters are located in Stockholm. Read more about Humana on: https://www.humanagroup.com/

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