Attendo (ATT) Q4 2024 earnings summary

Executive summary

• Achieved strong year-end results in 2024, serving around 30,000 people across nearly 800 care units, with significant profit improvement in Finland and successful acquisition and integration of Team Olivia in Sweden and Scandinavia.

• Delivered record high and stable satisfaction among customers, relatives, employees, and payors, with scores above public sector averages in both Finland and Sweden.

• Net sales for Q4 2024 grew 10% to SEK 4.9 billion, mainly from M&A activity, and double-digit sales growth was reported for the year.

• Adjusted EPS for 2024 reached SEK 4.08, surpassing the SEK 4 target.

• Board proposes a dividend of SEK 1.20 per share and continued share buy-backs.

Financial highlights

• Net sales for 2024 increased by 9.8% to SEK 18,980 million, with Q4 net sales at SEK 4,878 million, up 10% year-over-year.

• Lease-adjusted EBITA/EBITDA margin improved to 5.4% (R12), with lease-adjusted EBITA at SEK 1,024 million and Q4 lease-adjusted EBITA at SEK 254 million.

• Free cash flow for 2024 was SEK 732 million, with Q4 free cash flow at SEK 422 million.

• Adjusted EPS for 2024 was SEK 4.08, up over 35% year-over-year.

• Lease-adjusted net debt/EBITDA at year-end was 1.7x.

Outlook and guidance

• Positive demographic trends and increasing complexity of care needs support long-term market growth, with a 30% increase in the elderly population expected over the next five years.

• Most prices in Finland negotiated for 2025, indicating stable price versus cost development.

• Focus for 2025 is on strengthening occupancy, improving operational efficiency, and leveraging completed integrations.

• Clear value-creation path with ambitious targets for 2025–2026.