Humana (HUM) investor relations material

Executive summary

• Achieved 300 new placements and SEK 450 million in net revenue from new projects signed in Q4, including a major elderly care home and LSS group home in Sollentuna, strengthening the growth pipeline across Sweden, Norway, and Finland.

• Customer satisfaction index improved to 85, and employee satisfaction remained high at 76.

• Earnings per share rose to SEK 4.73 from SEK 2.87, a 65% increase year-over-year, with a proposed dividend of SEK 1.35 per share, up 35%.

• Major strategic initiatives included digitalisation, efficiency improvements, and expansion through acquisitions and new care units.

• Ongoing M&A activity, including the acquisition of Familiehjelpgruppen in Norway (NOK 120m annual revenue) and Team Olivia Norway, to expand specialized services.

Financial highlights

• Net revenue for 2025 was SEK 10,011m, down 3% year-over-year, with organic growth at -1.7%.

• Adjusted EBIT for the year at 4.8%, with Q4 adjusted EBIT at SEK 87m, down 20% year-over-year.

• Free cash flow for the year was SEK 214m, with SEK 44m allocated to share buybacks and a proposed dividend of SEK 1.35 per share.

• Share buybacks totaled SEK 153m for the year, representing 6.7% of total shares.

• Net debt at year-end was SEK 1.2 billion, down from SEK 1.5 billion a year ago; leverage ratio improved to 2.5x.

Outlook and guidance

• Pipeline of signed projects expected to add SEK 450 million in revenue, with about a third realized each year over the next three years.

• Efficiency program on track, with SEK 35 million in savings for 2025 and an additional SEK 20 million expected in 2026.

• Continued focus on digitalisation, AI, and organic growth to drive productivity and margin expansion.

• Personal assistance client outflow expected to flatten in the second half of 2026, with a small decline still anticipated for the year.