Secure elderly care with completed vaccinations.
CEO comment:
The impact of the COVID-19 pandemic continued in the first quarter, and restrictions were once again tightened due to a third wave of the coronavirus. At the same time, the vaccination rollout continued, and our elderly care units were given top priority, which stabilised the situation and was very positive from a human perspective - for our care receivers as well as our employees. As the new CEO of
In the first quarter, net sales amounted to
In the first quarter, the estimated impact of the COVID-19 situation was about
We will accelerate our efforts to prevent a loss of social capital due to the pandemic. Many family members have had to take on a great deal of responsibility during the pandemic when loved ones in need of extensive care have remained in their homes. Here we need to work together with our clients to ensure that those in need also gain access to the right care now. Both care receivers and loved ones can feel complete confidence in the day-to-day life at our units, and the qualified care we provide. As a high-quality partner to municipalities, we stand ready to welcome more care receivers.
Highlights of the first quarter 2021:
- Net sales decreased 3 per cent to
SEK 2,727 million (2,811) -
Operating profit (EBIT) increased to
SEK 125 million (144) -
EBITA decreased 12 per cent to
SEK 152 million (173), corresponding to a margin of 5.6 percent (6.2) -
Adjusted EBITA, excluding items affecting comparability decreased 19 per cent to
SEK 152 million (187) -
The adjusted EBITA margin was 5.7 per
cent (6.7) -
Profit for the period was
SEK 46 million (62) -
Earnings per share amounted to
SEK 0.49 (0.65) before and after dilution -
Free cash flow totalled
SEK 172 million (148)
Significant events in and after the first quarter
- During the quarter,
Ambea estimates the negative impact of the COVID-19 situation to be aboutSEK 100 million on net sales andSEK 40 million on EBITA. The negative impact includes loss of income due to lower rates of occupancy primarily in elderly care, higher costs for personal protective equipment (PPE) and sick leave, and government support received. -
The negative effects of the coronavirus pandemic on the company are expected to continue in 2021. In the second quarter, the estimated negative impact is
SEK 90-100 million on sales andSEK 40-50 million on EBITA. -
During the quarter,
Mark Jensen was assumed the position of President and CEO ofAmbea . -
Six operations in residential and day services in
Sweden were acquired from LSS Omsorgen during the quarter. After the quarter ended,Ambea also completed the acquisition of EKKOfonden's care operations inDenmark .
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The interim report, presentation and other material are available on www.ambea.com
This disclosure contains information that Ambea is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on
For more information, contact:
Jacob Persson, Head of Group Business Control & Investor Relations
Telephone: +46 (0)708 64 07 52
E-mail: ir@ambea.se
Ambea press contact
Telephone: +46 (0)10 33 00 501
E-mail: press@ambea.se
Ambea is the market leading care provider in Sweden, Norway and Denmark respectively, with over 900 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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