Humana

Summary of the third quarter

• Net revenue was SEK 2,666 million (2,398), an increase of 11 percent.
• Organic growth amounted to 1.5 percent (-1.3). Excluding Personal Assistance, organic growth was 5.7 percent (9.4).
• Operating profit amounted to SEK 195m (162).
• Adjusted operating profit amounted to SEK 203m (175), an increase of 16 percent.
• Net profit for the period after tax amounted to SEK 94m (82).
• Earnings per share for the period amounted to SEK 1.82 (1.71).
• Cash flow for the period, including acquisitions, amounted to SEK 57m (-353).
• Operating cash flow amounted to SEK 252m (14).

Summary of the nine-month period

• Net revenue amounted to SEK 7,608m (7,243), an increase of 5 percent.
• Organic growth was 0.6 percent (2.1). Excluding Personal Assistance, organic growth was 6.0 percent (10.8).
• Operating profit amounted to SEK 361m (368).
• Adjusted operating profit amounted to SEK 410m (352), an increase of 16 percent.
• Net profit after tax for the period amounted to SEK 116m (170).
• Earnings per share for the period amounted to SEK 2.33 (3.55).
• Cash flow for the period, including acquisitions, amounted to SEK -230m (-204).
• Operating cash flow amounted to SEK 535m (493).

Highlights

• Adjusted operating profit improved by 16 percent in the third quarter, largely driven by the implementation of price increases and good cost control. Record-high profit during the past 12-month period of SEK 499m.
• Integration of Team Olivia Norge AS proceeding as planned.
• The government is proposing an increase of 3 percent in the state reimbursement level for 2025 within the personal assistance in Sweden.

Significant events in the third quarter of 2024

• In July, Humana announced that the operations in Denmark will be disposed of with the aim of refining the geographical presence. The disposal was completed in September and resulted in a capital loss of SEK 8m.
• In August, Humana appointed Christoffer Herou as CFO. Christoffer took up his role on 2 September 2024. Kimmo Huhtimo was appointed as acting country manager in Finland. Kimmo took up his role on 1 September 2024.

President and CEO Nathalie Boulas Nilsson comments on the quarter

"During the quarter, the Group continued to show improvements in profitability and delivered its highest ever adjusted operating profit of SEK 203 million. Much of this improvement was driven by acquisitions, price increases in all business areas and increased occupancy within elderly care in Sweden.

At the end of July, I had the privilege of taking over as President and CEO of Humana. It is very apparent that Humana is a strongly values-driven company, which is highly focused on making a difference for those we are tasked with taking care of.

Based on our core values and through the expertise and team spirit that exist, I look forward to leading the development of our operations and continuing to drive Nordic care forward."

Read the full comment in the report.

Conference call

A webcast will be held on 23 October 2024 at 09:00 CET at which President and CEO Nathalie Boulas Nilsson and CFO Christoffer Herou will present the report and answer questions. If you wish to take part via the webcast, use the following link.

If you wish to participate via conference call, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the conference call. 

Registration teleconference

For more information, please contact:

Christoffer Herou
CFO
+46 72 582 86 16, christoffer.herou@humana.se

Ewelina Pettersson 
Head of investor relations 
+46 73 074 79 12, ewelina.pettersson@humana.se