Humana reports fourth quarter and full year 2020 results
A challenging year, marked by the pandemic, in which Humana took important steps forward
Fourth quarter, October–December 2020
- Operating revenue was SEK 1,948m (1,912), an increase of 2%. Organic growth was 3.1%.
- Operating profit was SEK 101m (71), an increase of 42%.
- Net profit after tax for the period amounted to SEK 49m (18).
- Earnings per share for the period before and after dilution amounted to SEK 0.94 (0.35).
- Operating cash flow amounted to SEK 296m (220).
Full year, January–December 2020
- Operating revenue was SEK 7,797m (7,467), an increase of 4%. Organic growth was 4.1%.
- Operating profit was SEK 471m (369), an increase of 27%. This includes a capital gain of SEK 17m (4) from sale of properties. Adjusted operating profit was SEK 453m (365), an increase of 24%.
- Net profit after tax for the year amounted to SEK 262m (187).
- Earnings per share for the year before and after dilution amounted to SEK 4.94 (3.54).
- Operating cash flow amounted to SEK 779m (595).
Significant events in and after the end of the quarter
- Humana acquires the Swedish assistance company RO Omsorg Assistans AB. The company’s annual revenue is approximately SEK 50m and it has around 90 employees.
- In December, Humana decides to repurchase own shares as mandated at the 2020 Annual General Meeting. That same month, 2,656,860 own shares were purchased for SEK 154m at an average price of SEK 57.95 per share. The purpose is to adjust the Group’s capital structure and helping to increase shareholder value.
- After the end of the quarter, in February, Humana acquires the Swedish individual and family company Team J-son. Team J-son’s annual revenue is approximately SEK 90m and it has around 120 employees.
- Humana’s Board proposes to the 2021 AGM that no dividend be paid for the 2020 financial year and that any profits be carried forward.
President and CEO Rasmus Nerman comments on the quarter and the full year:
"Humana’s operations have never been put to the test as much as they were in 2020, the year the whole world was laser-focused on fighting Covid-19. The fourth quarter was no exception. Our efforts continue and it gives both hope and energy that more and more customers, clients and even employees now are being vaccinated. At the same time, 2020 was a year in which Humana also continued to make progress, not least in digitalisation and operational control. These efforts have paid off and we are now closer to reaching our targets”, Rasmus Nerman said.
Read the full comment in the report.
A conference call will be held 11 February 2020 at 09:00 CET, at which President and CEO Rasmus Nerman and CFO Noora Jayasekara will present the report and answer questions.
To participate, call:
SE: +46 8 5664 2704
UK: +44 33 3300 9034
USA: +1 833 249 8406
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 on 11 February 2021 at 08:00 CET.
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Humana is a leading Nordic care company providing services within individual and family care, personal assistance, elderly care and special service housing in accordance with LSS. Humana has 16,000 employees in Sweden, Norway, Finland and Denmark providing care for 9,000 individuals and working to achieve the vision “Everyone is entitled to a good life”. In 2020, Humana’s operating revenue was SEK 7,797m. Humana is listed on Nasdaq Stockholm and the company’s headquarters are located in Stockholm.