Interim report Q4 2018
High organic growth and a Nordic care group in the making
Fourth quarter, October-December 2018:
- Operating revenue was SEK 1,700 M (1,616), an increase of 5%.
- Operating profit was SEK 82 M (SEK 66 M), an increase of 24 % or SEK 16 M. Excluding acquisition related costs, operating profit increased by 42% to SEK 95 M (67) for the period.
- Net profit after tax for the period was SEK 51 M (34).
- Earnings per share for the period before and after dilution were SEK 0.97 (0.63).
- Operating cash flow was SEK 136 M (197).
Full year, January-December 2018
- Operating revenue amounted to SEK 6,725 M (6,556), an increase of 3 % compared with last year. Adjusted for the divested home care service business, which contributed last year, revenue increased by 5 %.
- Operating profit was SEK 391 M (316), an increase of 24 %.
- Net profit after tax for the period was SEK 245 M (194), an increase of 27 %.
- Earnings per share for the period before and after dilution were SEK 4.62 SEK (3.64).
- Operating cash flow was SEK 285 M (184).
Significant events during the fourth quarter and after the end of the year
- Humana acquired two companies in the fourth quarter: assistance company RIK Assistans AB in Härnösand and adolescent social psychiatry company Matiimi Oy in the Birkaland region of Finland.
- After the end of the quarter, in late January 2019, Humana entered an agreement to acquire all shares in Finnish company Coronaria Hoiva Oy from its owner Coronaria Oy. The transaction is subject to approval by the Finnish competition authority and is expected to be completed during the first or second quarter of 2019 at the latest. Coronaria Hoiva’s enterprise value is EUR 71 M or about SEK 736 M. The company has approximately 1,100 employees. Adjusted revenue for 2018 amounts to EUR 54 M or approximately SEK 559 M, and adjusted EBITDA was EUR 4.3 M or approximately SEK 45 M.
- After the end of the quarter, Humana signed an agreement for a new elderly housing unit under own management in Vallentuna. It is planned to open by the fourth quarter of 2020.
- The Board proposes that the 2019 Annual General Meeting approve a dividend of SEK 0.70 per share for the 2018 financial year and that the remaining profit be carried forward.
President and CEO Rasmus Nerman comments on the quarter:
”The fourth quarter continued as previous quarters in 2018; with improved organic growth, a strong operating profit and a stronger financial position. In summary, 2018 was the strongest year to date in Humana’s history with a stable end to the fourth quarter. In addition to our two major business areas, Individual & Family and Personal Assistance, I can now state that we have created a third very strong base: Other Nordics. Humana as a complete Nordic care provider is clearly taking shape! We face plenty of challenges but as we enter 2019, we do it as a stronger group than ever before”, Rasmus Nerman said.
"Our employees have worked hard to achieve our goals and it is satisfying for us all to see how our work generates results. During the quarter, we also confirmed that we live according to our values. We received high marks in quality measurements, good results in our annual employee survey, and for the second consecutive year, we were awarded the AllBright prize as the best listed company for gender equality in Sweden”, Rasmus Nerman said.
A conference call will be held 14 February 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 52
UK: +44 333 300 92 70
USA: +1 833 526 83 82
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 14 February 2019.
For more information, please contact:
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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.