Business model and market
Leading private provider of care and health care services in the Nordics
Attendo is the leading private provider of care services in the Nordics. The company has operations in Sweden, Finland and Denmark. Attendo is a locally based company and has about 700 units in operation, in more than 200 municipalities. The company has approximately 25 000 employees. With the vision to empowering the individual Attendo provides services within care for older people, care for people with disabilities and individual and families.
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How we create value
Attendo operates on a long term attractive market with good growth potential. The business model is well-proven and Attendo rests on a stable platform with good conditions for continued development.
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The system for welfare services
The Nordic system for welfare services in health and social care rests on public financing, local and regional responsibility as well as comprehensive regulations for procurement and quality supervision. The system has gradually opened up for alternative providers as reforms have been carried out.
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Financial targets
Attendo sees a link between high quality and stable financial performance which is why Attendo does not seek volume growth at the cost of quality and margins. Attendo shall have a strong financial position that secures financial stability and the ability to make long-term decisions, and dividends should be founded on Attendo’s investment opportunities and financial position. Attendos financial targets is expressed as:
Annual growth
Long-term, 7% annual growth from organic growth and acquisitions.
Margin
Long-term, achieve an EBITA margin of approximately 9% (old GAAP).
Financing
Net debt/EBITDA should be below 3.75
Dividend:
30% of net profit. Dividend capacity is based on evaluation of investment opportunities and financial position.
Attendo will review and revise its financial targets in 2020. The current targets are based on the previous accounting standard. Since 2019, Attendo reports in accordance with the accounting standard IFRS 16.