Higher earnings despite the pandemic
CEO comment:
In the fourth quarter, the number of coronavirus cases began to rise again. We saw a second wave that is now affecting more geographic regions than the first wave. In
In the fourth quarter, net sales amounted to
In the fourth quarter, the estimated impact of the coronavirus is
In 2021, we are looking forward to a completed vaccination programme and fewer coronavirus cases as a result. This is a prerequisite for the operation to be able to return to a more normal state, where our focus as always will be to make the world a better place, one person at a time.
Highlights of the fourth quarter 2020:
- Net sales decreased 1 per cent to
SEK 2,764 million (2,804) -
Operating profit (EBIT) increased to
SEK 174 million (110) -
EBITA increased 38 per cent to
SEK 200 million (145), corresponding to a margin of 7.3 percent (5.2) -
Adjusted EBITA, excluding items affecting comparability increased 30 per cent to
SEK 200 million (154) -
The adjusted EBITA margin was 7.3 per
cent (5.5) -
Profit for the period was
SEK 93 million (36) -
Earnings per share amounted to
SEK 0.98 (0.39) before and after dilution -
Free cash flow totalled
SEK 466 million (471)
Significant events in and after the fourth quarter
- During the quarter,
Ambea estimates the negative impact of the COVID-19 situation to be aboutSEK 100 million on net sales andSEK 35 million on EBITA. The negative impact includes loss of income due to lower rates of occupancy primarily in elderly care, higher costs for personal protective equipment (PPE) and sick leave, and government support received. -
During the quarter,
Mark Jensen was appointed new President and CEO ofAmbea . He will assume his position on 8 March. -
After the end of the quarter, six operations in residential and day services in
Sweden were acquired from LSS Omsorgen.Ambea also concluded an agreement to acquire EKKOfonden's care operations, which provides residential care services for adults with disabilities acrossDenmark . -
The negative effects of the coronavirus pandemic on the company are expected to continue in 2021. In the first quarter, the estimated negative impact is
SEK 90-100 million on sales andSEK 30-40 million on EBITA. -
The Board proposes that a dividend of
SEK 1.15 (0) per share be paid for 2020.
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The interim report, presentation and other material are available on www.ambea.com
This disclosure contains information that Ambea is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on
For more information, contact:
Jacob Persson, Head of Group Business Control & Investor Relations
Telephone: +46 (0)708 64 07 52
E-mail: ir@ambea.se
Ambea press contact
Telephone: +46 (0)10 33 00 501
E-mail: press@ambea.se
Ambea is the market leading care provider in Sweden, Norway and Denmark respectively, with over 900 care units and around 26,000 employees. We offer services in disabled care, individual and family care, and elderly care with a focus on residential care and own management. We aim to be the quality leader in all that we do and our vision is to make the world a better place, one person at a time. The company was founded in 1996 and its head office is located in Solna, Sweden. Ambea is listed on Nasdaq Stockholm.
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