Q3 2024 Ambea AB (publ) Earnings Call Transcript
Key Points
- Ambea AB (FRA:6MA) reported a 6% increase in net sales, driven by 7% organic growth across its divisions.
- Group EBITA rose by 25%, reaching a margin of 13.4%, a significant improvement compared to the previous year.
- The company achieved strong cash flow, allowing for the conclusion of its second share buyback program and further acquisitions.
- Ambea AB (FRA:6MA) continues to expand its service offerings, with new care facilities and acquisitions contributing to growth.
- The company maintains a strong market position in Sweden, Norway, and Denmark, with stable margins despite political shifts and economic challenges.
- Ambea AB (FRA:6MA) faces political and regulatory risks due to its operation in a tax-financed environment.
- The demand for individual and family care services is volatile, impacting occupancy rates in some segments.
- Altiden and Klara experienced negative growth, affecting overall performance.
- The company has lost a contract in Vardaga that will expire in 2025, which could impact future profitability.
- There is uncertainty regarding the sustainability of high margins in Norway due to the volatile nature of demand for child and youth care services.
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Welcome everyone. Today, we will review Ambea's performance for the third quarter of 2024. My name is Mark Jensen CEO of Ambea and I'm joined by our CFO Benno Eliasson
Together, we will walk you through our results and highlight the key developments during this period. After that, I will summarize the quarter and compare to our financial targets before we open for questions.
I would like to begin with a brief overview of Ambea and remains the leading care provider in Sweden, Norway and Denmark, offering high quality care and support for over 14,500 care receivers across 950 units.
We are delivering care across a wide spectrum of services including elderly care, disability care, and psychosocial support.
Our competency based approach ensures that every person receives high quality personalized care.
Let's have a brief look at some of the reasons to invest in Ambea. Ambea deliver values to society and we aspire to be the most attractive investment in the care sector. From a
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