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Sweden's Dedicare Q3 net sales rise 31% on acquisitions

By Reuters News


Overview

  • Sweden-based healthcare staffing firm's Q3 net sales rose 31% yr/yr, driven by acquisitions

  • EBITA and EBITA margin improved significantly from previous year

  • Acquisitions in social care made substantial contributions to sales and earnings


Outlook

  • Company says healthcare staffing market is stabilising but demand remains hesitant and competition intense

  • Dedicare says it will continue to focus on efficiency and profitability amid challenging market conditions

  • Company to prioritise development of social care operations and profitability in Denmark


Result Drivers

  • ACQUISITIONS - Co said Q3 growth and improved earnings were mainly driven by acquired operations in social care

  • EFFICIENCY MEASURES - Rationalisations and improvements in staffing business contributed to stable underlying earnings

  • ORGANIC SALES - Organic sales grew 2.1% yr/yr, though organic earnings were flat compared to previous year


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

SEK 511.70 mln

Q3 Net Income

SEK 19.50 mln

Q3 EBIT

SEK 28.80 mln

Q3 EBITA

SEK 30.90 mln

Q3 EBITA Margin

6.00%

Q3 EBIT Margin

5.60%


Analyst Coverage

  • The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 4 three months ago


Reuters Recommended Reads

  • Oct 26 - Kforce Q3 revenue rises on technology staffing, slightly beats estimates

  • Oct 27 - Sweden's Alfa Laval Q3 sales rise on order intake

  • Oct 26 - Sweden's Alleima misses Q3 revenue estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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