Attendo (ATT) CMD 2026 summary

Strategic direction and market positioning

• Focuses on delivering high-quality, cost-effective care in the Nordics, primarily Finland and Sweden, with a high share of own-operated units and reduced operational complexity.

• Maintains leadership in Nordic social care markets, emphasizing public-private partnerships and adapting to demographic shifts and rising care needs.

• Projects continued market growth driven by aging populations, labor market dynamics, and public finance constraints, with private providers playing a key role.

• Holds top positions in nursing homes, home care, and disabled care segments in Finland and Scandinavia, leveraging a decentralized, tax-funded market structure.

• Political and regulatory environments in Sweden and Finland are stable, supporting long-term operational stability.

Operational excellence and innovation

• The Attendo Way operating model integrates culture, leadership, technology, and KPIs to ensure quality and efficiency, with a strong focus on employee satisfaction and development.

• Digitalization and AI, such as speech-to-text documentation, are being rolled out to reduce administrative burden, improve care quality, and enhance employee satisfaction.

• Implements advanced quality frameworks, individualized care planning, and digital engagement tools to improve outcomes for care recipients and relatives.

• Specialized care concepts and purpose-built facilities, including lifestyle concepts in Sweden and tailored homes for complex needs, differentiate service offerings.

• Technology investments are aimed at enabling more face-to-face care, better data-driven decision-making, and future scalability.

Financial performance and targets

• Achieved 12 consecutive quarters of earnings per share growth, surpassing previous targets ahead of schedule, with adjusted EPS rising from less than SEK 1 in 2022 to SEK 6 in 2024.

• New financial target set for 2028: adjusted EPS of at least SEK 9, representing at least 50% growth from 2026.

• Targets annual EBITDA/EBITA growth of at least 10%, driven by new capacity, margin-accretive acquisitions, higher occupancy, operational efficiency, and scale benefits.

• Maintains disciplined capital allocation with recurring cash conversion, share buy-backs (targeting 5% of shares p.a.), and a dividend payout of 30%.

• Asset-light model with high free cash flow conversion supports investments in new capacity, M&A, and recurring share buybacks, while maintaining leverage and dividend policy.