Ambea’s year-end report 2018

CEO comment:

During the year, we achieved favourable growth and increased profitability through acquisitions and greenfield units. At the end of 2018, our pipeline of beds and placements was larger than it has ever been, paving the way for future organic growth. At the same time, the acquisition of Aleris’ care operations is creating further growth opportunities, making Ambea the leading care provider in Sweden, Norway and Denmark.

Net sales rose in the fourth quarter to SEK 1,550 million (1,464). Own Management accounted for 70 per cent (66) during the quarter. Adjusted EBITA rose 30 per cent year-on-year to SEK 120 million (92).

2018 was characterised by favourable earnings growth and increased margins, and we were able to lay the foundation for greater organic growth through a record-breaking pipeline. We are now devoting considerable focus to the integration of Aleris’ care operations as well as leveraging synergies and operational improvement opportunities.

Highlights of the fourth quarter 2018:

  • Net sales rose 6 per cent to SEK 1,550 million (1,464)
  • Operating profit (EBIT) decreased to SEK 64 million (70)
  • EBITA decreased -1 per cent to SEK 85 million (86), corresponding to a margin of 5.5 per cent (5.9)
  • Adjusted EBITA, excluding items affecting comparability increased 30 per cent to SEK 120 million (92).
  • The adjusted EBITA margin was 7.7 per cent (6.3)
  • Items affecting comparability in the quarter amounted to SEK -35 million (-6), where the previous year’s items were attributable to the previously divested operations in personal assistance
  • Profit for the period was SEK 32 million (54)
  • Earnings per share amounted to SEK 0.48 (0.80) before and SEK 0.48 (0.79) after dilution
  • Operating cash flow amounted to SEK 166 million (204)
  • Free cash flow totaled SEK 149 million (179)
  • The Board of Directors proposes a dividend increase for 2018 to SEK 1.10 (1.00) per share
  • During the quarter, agreements were entered into to acquire all of Aleris’ care operations in Sweden, Norway and Denmark. The transaction was completed after the end of the quarter
  • Following the implementation of IFRS 16, the Board intends to review the financial targets of the group in 2019

Telephone conference:

Ambea will host a presentation with the possibility to attend through a telephone conference at 10:00 (CET) today. The presentation will be held in English and will also be available as webcast on: https://edge.media-server.com/m6/p/d8yecax4

Dial-in information:

To ensure that you are connected to the conference call, please dial in at least five minutes before the conference call starts to register your attendance and enter participation code 7409589.

Sweden:         +46 (0)8 506 921 80

UK:                 +44 (0)844 571 88 92 

US:                 +1 631 510 7495

The interim report, presentation and other material are available on www.ambea.com

For more information, contact:

Jacob Persson, Head of Investor Relations 
Telephone: +46 (0)708 64 07 52

E-mail: jacob.persson@ambea.se

Ambea press contact
Telephone: +46 (0)10 33 00 501
E-mail: press@ambea.se

This information is information that Ambea AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on February 13, 2019 at 07:00 CET.

Ambea is the market leading care provider in Sweden, Norway and Denmark respectively, with over 750 care units and around 26,000 employees. We offer services in disabled care, individual and family care, and elderly care with a focus on residential care and own management. We aim to be the quality leader in all that we do and our vision is to make the world a better place, one person at a time. The company was founded in 1996 and its head office is located in Solna, Sweden. Ambea is listed on Nasdaq Stockholm.

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