Interim report Q1 2022

2022-05-05 08:00

Growth despite challenging conditions

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First quarter, January-March, 2022

  • Operating revenue was SEK 2,147 million (1,986), an increase of 8.1 percent, which is mainly explained by acquisitions, previously opened units within Elderly Care, and strong growth in Norway.
  • Organic growth was 1.8 percent (2.4). Organic growth was driven by Elderly Care and Norway, but growth was slowed down by lower occupancy and closed units within Individual and Family.
  • Operating profit amounted to SEK 77m (112), a decline of 31.9 percent. The decrease is partly explained by externally related factors of approximately SEK 20m, whereof effects related to the pandemic amounts to approximately SEK 15m. Pandemic related effects decrease substantially towards the end of the quarter. Furthermore, the decrease in operating profit is affected by closed units in Individual & Family and ramp-up costs of new units within Individual & Family and Elderly Care, amounting to SEK 12m. The operating profit is also affected by indirect effects related to the pandemic and lower occupancy levels.  
  • Net profit after tax for the period amounted to SEK 29m (63).
  • Basic and diluted earnings per share for the period amounted to SEK 0.60 (1.27).
  • Operating cash flow amounted to SEK 115m (197). The decrease is related to lower profit and delayed payments.

President and CEO Johanna Rastad comments on the quarter

External factors, with the extensive spread of the omicron variant and global uncertainty impact our operations during the first quarter. The beginning of the quarter was mainly affected, while there is a relief in impact by the end of the period. At the end of the quarter we see a recovery, with occupancy returning and a higher workplace attendance across the employee groups, which is much awaited.

We continue to pursue the previously initiated change management within Elderly Care and to start up units within Individual & Family to compensate for the units we have closed. At the same time, Personal Assistance and Norway continue to progress nicely.

Read the full comment in the report.

Conference call

A web-based teleconference will be held on 5 May 2022 at 09:00 CET at which President and CEO Johanna Rastad and CFO Noora Jayasekara will present the report and answer questions. To participate, call:

SE: +46 8 5055 8354
UK: +44 33 3300 9270
US: +1 64 6722 4903

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 5 May 2022 at 08:00 CET

For more information, please contact:

Noora Jayasekara
CFO
070 318 92 97, noora.jayasekara@humana.se

Ewelina Pettersson 
Ansvarig investerarrelationer 
073 074 79 12, ewelina.pettersson@humana.se

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 18,000 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 2021, Humana’s operating revenue was SEK 8,188m. Humana is listed on Nasdaq Stockholm and the company’s headquarters are located in Stockholm. Read more about Humana on: https://www.humanagroup.com/