Pihlajalinna changes its segment reporting and provides comparative segment information for 2023
Pihlajalinna Plc Stock Exchange Release 24 April 2024 at 9:00 a.m.
Pihlajalinna changes its segment reporting and provides comparative segment information for 2023
Pihlajalinna will change its segment reporting from 1 January 2024. In the future, Pihlajalinna will have two reportable segments: Private Healthcare Services and Public Services. The new reporting structure follows Pihlajalinna’s business model and organisational structure.
Private Healthcare Services operating segment consists of private clinic, diagnostics, hospital, occupational healthcare, remote and fitness center services. These comprehensive care path services are provided by Pihlajalinna to corporate customers, insurance companies, the public sector and private customers through its nationwide network of medical centers and diverse digital channels.
Public Services operating segment consists of social and healthcare services produced for the public sector, which include outsourcing and housing services, mainly remotely produced responsible doctor services, as well as a wide range of staffing and recruitment services.
Pihlajalinna publishes comparable data in accordance with the new reporting structure for the financial year 2023. The comparable data includes revenue as well as reported and adjusted EBITA for each quarter. The comparable data is unaudited.
In connection with the change, Pihlajalinna has carried out impairment testing on 31 March 2024, and goodwill has been allocated to cash-generating units in accordance with the new segment structure. The testing identified no impairment charges.
Pihlajalinna publishes Q1 2024 Interim Report on Friday, 3 May 2024, at around 8:00 a.m. using the new reporting structure.
The following tables present the unaudited financial information for the reporting segments of Pihlajalinna for the quarters of 2023 and for the full year 2023.
|
2023 |
|
|
|
|
|
|
|
|
|
EUR million |
Private Healthcare Services |
Public Services |
Group total |
|
Segment revenue |
424.3 |
313.0 |
|
|
of which intersegment |
-16.5 |
-0.9 |
|
|
Revenue from external customers |
407.8 |
312.2 |
720.0 |
|
|
|
|
|
|
EBITA |
27.0 |
1.7 |
28.8 |
|
EBITA, % of segment revenue |
6.4 |
0.6 |
4.0 |
|
|
|
|
|
|
Adjusting items affecting comparability |
0.5 |
8.5 |
9.0 |
|
|
|
|
|
|
Adjusted EBITA |
27.5 |
10.3 |
37.8 |
|
Adjusted EBITA, % of segment revenue |
6.5 |
3.3 |
5.2 |
|
Q1 / 2023 |
|
|
|
|
|
|
|
|
|
EUR million |
Private Healthcare Services |
Public Services |
Group total |
|
Segment revenue |
113.0 |
79.4 |
|
|
of which intersegment |
-4.2 |
-0.4 |
|
|
Revenue from external customers |
108.8 |
79.0 |
187.8 |
|
|
|
|
|
|
EBITA |
9.2 |
3.3 |
12.5 |
|
EBITA, % of segment revenue |
8.1 |
4.2 |
6.6 |
|
|
|
|
|
|
Adjusting items affecting comparability |
-1.0 |
-0.5 |
-1.4 |
|
|
|
|
|
|
Adjusted EBITA |
8.2 |
2.8 |
11.0 |
|
Adjusted EBITA, % of segment revenue |
7.3 |
3.6 |
5.9 |
|
Q2 / 2023 |
|
|
|
|
|
|
|
|
|
EUR million |
Private Healthcare Services |
Public Services |
Group total |
|
Segment revenue |
106.2 |
81.6 |
|
|
of which intersegment |
-3.9 |
-0.3 |
|
|
Revenue from external customers |
102.3 |
81.3 |
183.6 |
|
|
|
|
|
|
EBITA |
5.4 |
1.6 |
7.0 |
|
EBITA, % of segment revenue |
5.1 |
2.0 |
3.8 |
|
|
|
|
|
|
Adjusting items affecting comparability |
0.4 |
-0.1 |
0.3 |
|
|
|
|
|
|
Adjusted EBITA |
5.8 |
1.5 |
7.3 |
|
Adjusted EBITA, % of segment revenue |
5.5 |
1.8 |
4.0 |
|
Q3 / 2023 |
|
|
|
|
|
|
|
|
|
EUR million |
Private Healthcare Services |
Public Services |
Group total |
|
Segment revenue |
94.1 |
75.6 |
|
|
of which intersegment |
-3.9 |
-0.1 |
|
|
Revenue from external customers |
90.1 |
75.5 |
165.6 |
|
|
|
|
|
|
EBITA |
5.4 |
3.8 |
9.2 |
|
EBITA, % of segment revenue |
5.7 |
5.0 |
5.5 |
|
|
|
|
|
|
Adjusting items affecting comparability |
0.4 |
0.0 |
0.4 |
|
|
|
|
|
|
Adjusted EBITA |
5.8 |
3.8 |
9.6 |
|
Adjusted EBITA, % of segment revenue |
6.1 |
5.0 |
5.8 |
|
Q4 / 2023 |
|
|
|
|
|
|
|
|
|
EUR million |
Private Healthcare Services |
Public Services |
Group total |
|
Segment revenue |
111.0 |
76.5 |
|
|
of which intersegment |
-4.5 |
-0.1 |
|
|
Revenue from external customers |
106.6 |
76.4 |
183.0 |
|
|
|
|
|
|
EBITA |
7.1 |
-6.9 |
0.2 |
|
EBITA, % of segment revenue |
6.4 |
-9.0 |
0.1 |
|
|
|
|
|
|
Adjusting items affecting comparability |
0.6 |
9.1 |
9.7 |
|
|
|
|
|
|
Adjusted EBITA |
7.7 |
2.2 |
9.9 |
|
Adjusted EBITA. % of segment revenue |
7.0 |
2.8 |
5.4 |
Pihlajalinna Plc
Further information:
Tarja Rantala, CFO, tel. +358 40 774 9290, tarja.rantala@pihlajalinna.fi
Tuula Lehto, Chief Communications and Sustainability Officer, tel. +358 40 5885 343, tuula.lehto@pihlajalinna.fi
Distribution:
Nasdaq Helsinki Ltd.
Key media
investors.pihlajalinna.fi
Pihlajalinna in brief
Pihlajalinna is one of the leading providers of private healthcare and social services in Finland. The Group provides comprehensive and quality private clinic and hospital services as well as occupational healthcare and insurance cooperation services. To the wellbeing services counties Pihlajalinna offers social and healthcare service production models, in which the cooperation between the public and private sectors guarantees effective services for citizens. Appoximately 7,000 employees and 2,200 practitioners work at Pihlajalinna. In 2023, Pihlajalinna's revenue was 720 million euros. Pihlajalinna's shares are listed on Nasdaq Helsinki Oy. Read more www.pihlajalinna.fi.