Terveystalo (TTALO) Jefferies London Healthcare Conference 2024 summary

Business overview and market position

• Leading Nordic healthcare platform with €1.3 billion revenue, focused on private outpatient services.

• Operates over 300 units in Finland and 150 in Sweden, with growing digital presence.

• 61% of revenue from corporate clients, 30% from consumers, and 9% from public sector.

• Integrated care model offers fast, 24/7 access to both digital and physical services.

• 15,000 professionals serve 1.2 million customers, mainly in Finland.

Financial performance and turnaround

• EBITDA margin improved from below 8% to 12.3% over 24 months, surpassing targets.

• Achieved profitability and growth despite negative consumer and corporate confidence in Finland.

• Turnaround driven by commercial actions, productivity boosts, and cost cutting.

• No market segment provided external growth boost; all improvements were internal.

• Future focus shifts from turnaround to organic growth and technology investment.

Strategic direction and growth drivers

• Ongoing investments in digital integration and AI-driven applications to enhance efficiency.

• Customer satisfaction and medical quality KPIs at all-time highs.

• Positioned to benefit from widening public funding and productivity gaps in healthcare.

• Demographic trends and rising service prices support long-term market growth.

• Scalable, digital-driven business model with strong cash flow for reinvestment and shareholder rewards.