Interim report Q1 2019
A good start to the year clouded by challenges in Individual & Family
First quarter, January - March 2019
- Operating revenue was SEK 1,708 M (1,648), an increase of 4%.
- Operating profit was SEK 77 M (81), a decrease of 5%. Excluding the effects of IFRS 16, which apply from 1 January 2019, the operating profit amounted to SEK 70 M (81).
- Net profit after tax for the period amounted to SEK 44 M (45).
- Earnings per share for the period before and after dilution amounted to SEK 0.83 (0.85).
- Operating cash flow amounted to SEK 33 M (-32). Excluding the effects of IFRS 16, operating cash flow totalled SEK -24 M (-32).
Significant events in and after the first quarter
- During the period, Humana entered into an agreement to acquire all shares in the Finnish company Coronaria Hoiva Oy from its owner Coronaria Oy. After the end of the quarter, the Finnish competition authority approved the acquisition and the transaction has been finalized. Coronaria Hoiva is valued (enterprise value) at EUR 71 M, approximately SEK 736 M. The company has about 1,100 employees. Its adjusted revenue for 2018 is EUR 54 M, approximately SEK 559 M, and its adjusted EBITDA is EUR 4.3 M, approximately SEK 45 M.
- During the quarter, Humana signed an agreement for a new elderly housing unit under own management in Vallentuna. Operations are expected to start in Q4 2020.
- After the end of the quarter, Humana signed an agreement for a new elderly housing unit under own management in Falkenberg, as well as an agreement for a new elderly housing unit under own management in Norrtälje. Both operations are expected to start during the first half of 2021.
- Humana’s Board proposes that the 2019 AGM on 9 May, the same day as this report is published, approves a dividend of SEK 0.70 per share for the 2018 financial year.
President and CEO Rasmus Nerman comments on the quarter:
“Humana has had an intensive start of 2019. The first quarter of the year was characterised by different growth initiatives. Through our acquisition of the Finnish company Coronaria Hoiva we are now a full service care provider in Finland. We also signed a number of other important contracts for the future. Three of the four business areas – Personal Assistance, Elderly Care and Other Nordics – reported good profits with stable or strong organic growth and increased operating margins. In Individual & Family, however, the negative trend that started in Q4 of last year continued into Q1, where we initially experienced a very low demand”, Rasmus Nerman said.
A conference call will be held 9 May 2019 at 09:00 CET, at which President and CEO Rasmus Nerman and CFO Ulf Bonnevier will present the report and answer questions. To participate, call:
SE: +46 8 505 583 50
UK: +44 333 300 92 74
USA: +1 844 625 15 70
This information is information that Humana AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 08:00 CET on 9 May 2019.
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Humana är ett ledande nordiskt omsorgsföretag som erbjuder tjänster inom individ- och familjeomsorg, personlig assistans, äldreomsorg och bostäder med särskild service enligt LSS. Humana har cirka 15 000 engagerade medarbetare i Sverige, Norge, Finland och Danmark som utför omsorgstjänster till över 8 000 människor. Vi arbetar efter visionen ”Alla har rätt till ett bra liv”. 2018 uppgick rörelseintäkterna till 6 725 MSEK. Humana är börsnoterat på Nasdaq Stockholm sedan 2016 och har huvudkontor i Stockholm.