===== SIDA 1 ===== Attendo Interim report Q1, January-March 2023 1 (31) INTERIM REPORT JANUARY-MARCH 2023 Summary of the first quarter • Net sales amounted to SEK 4,044m (3,482). Organic growth was 8.9 percent. • Lease adjusted EBITA (EBITA according to the previous accounting standard) was SEK 116m (31), corresponding to a lease adjusted operating margin of 2.9 percent (0.9). • Operating profit (EBITA) amounted to SEK 241m (142), corresponding to an operating margin of 6.0 percent (4.1). • The profit for the period amounted to SEK 28m (-32). Diluted earnings per share were SEK 0.17 (-0.20). Adjusted earnings per share after dilution were SEK 0.43 (0.09). • Free cash flow amounted to SEK 8m (57). • There were 20,923 (21,155) beds in Attendo’s homes at the end of the period. Occupancy in the homes was 86 percent (84). Group key figures 1) See also definitions of key data and alternative performance measures on pages 29-30. 2) Profit for the period attributable to the parent company shareholders excluding amortization of acquisition related intangible assets, IFRS 16 and items affecting comparability and related tax effects divided with the average number of shares outstanding, after dilution. Jan-Dec SEKm 2023 2022 Δ% 2022 Net sales 4,044 3,482 16% 14,496 Lease adjusted operating profit (EBITA) ¹ 116 31 274% 199 Lease adjusted operating margin (EBITA)¹, % 2.9 0.9 - 1.4 Operating profit (EBITA)¹ 241 142 70% 674 Operating margin (EBITA)¹, % 6.0 4.1 - 4.6 Profit for the period 28 -32 - -44 Earning per share diluted, SEK 0.17 -0.20 - -0.28 Adjusted earnings per share diluted¹ʼ ², SEK 0.43 0.09 383% 0.68 Free cash flow 8 57 -86% 24 Q1 Q1 ===== SIDA 2 ===== Attendo Interim report Q1, January-March 2023 2 (31) CEO’s statement Clear progress in Finland leads to improved result The first quarter of the year was characterised by preparations for the new staffing standard in Finland, related to access to competence, quality improvement and renegotiations of contracts in care for older people. The new contracts provide the conditions going forward to provide good care at lower cost than publicly operated alternatives while once again turning to surplus after several years in the red. The outcome of the new contracts from April are in line with expectations and previous communications. We see a clear improvement in earnings already in the first quarter as an effect of positive price effects already from the turn of the year in combination with well-executed preparations ahead of the new staffing standard. Financial performance in the Scandinavian business was flat, where improvements generated by higher occupancy were offset by annual price adjustments that did not fully compensate for cost increases. With price and cost conditions clarified, we can assess our capacity to achieve the financial targets we set in early 2021 with greater certainty. Overall, we see good potential to achieve SEK 4 per share in 2024, thus a quarter or two later than originally planned. Group: High growth and improved performance We are reporting growth of 16 percent in the first quarter, driven primarily by price adjustments in Finland, acquisitions and higher occupancy in Scandinavia. Costs have increased in both business areas, however, and sick- leave rates remain elevated. Lease-adjusted EBITA for the first quarter of 2023 increased by SEK 85 million compared to the preceding year to SEK 116 million, corresponding to an operating margin of 2.9 percent. Finland: Clear turn-around already in Q1 Sales in Attendo Finland increased by around 17 per cent in the quarter in local currency, mainly due to higher prices and acquisitions, but also good growth in other segments. Price increases of about 12 percent of sales starting at the beginning of the year combined with operational improvements have clearly improved adjusted EBITA, which amounted to SEK 73m for Q1, an increase of SEK 91m compared to Q1 2022. Operating result is still being held back by high personnel costs related primarily to preparing for higher staffing requirements, overtime costs and high sick leave, although these costs were somewhat lower than expected. Rents increased by about 10 percent during the quarter. Staffing requirements and other regulatory requirements have successively increased in Finland since 2019. As of 1 April 2023, the staffing requirement will increase from 0.60 to 0.65 care workers per resident. The costs of providing Finnish care for older people have thus increased dramatically, exceeding 50 percent across a period of five years. The renegotiations of contracts for our nursing homes in Finland completed in Q1 were thus aimed at securing reasonable compensation for previous and upcoming cost increases due to higher regulatory requirements and the high rate of inflation in the past year. The contract negotiations resulted in an average price adjustment of about 12 percent of total sales in Attendo Finland in Q1. Additional price effects in Q2 are estimated at 6-7 percent of total sales. Cost increases are estimated to be 1-2 percentage points lower. Martin Tivéus, CEO ‒ Attendo’s long-term goal is to have the most satisfied customers in every location where we operate. That ambition motivates every local operation to do their utmost to deliver good care. ===== SIDA 3 ===== Attendo Interim report Q1, January-March 2023 3 (31) On the whole, the new contractual situation provides a basis for recovery after several years of unsustainable conditions in the Finnish nursing home business. Scandinavia: Improvements in occupancy offset by costs inflation Sales in Attendo Scandinavia increased by about 5 percent compared to the corresponding quarter last year, primarily as a consequence of higher occupancy in nursing homes in own operations and price adjustments. Lease- adjusted EBITA was slightly lower at SEK 61m (66). Operating result in nursing homes in own operations increased as a result of higher occupancy compared to the same period in 2022. Staffing costs remain high and no compensation has been paid for higher sick-leave, compared to the preceding year. Inflation has also had significant impact, primarily in terms of higher costs for rent, food and consumable supplies that had not been fully compensated for by Swedish local authorities ahead of 2023. Consequently, the company and the industry as a whole need to work actively with contracting local authorities to create better understanding for sustainable terms and conditions. Favourable conditions for reaching SEK 4 per share in 2024 Ahead of 2021, Attendo set a target to achieve adjusted EPS of at least SEK 4 for the full year 2023. The turnaround programme was based mainly on renegotiation of contracts in Finland to secure compensation for increased requirements, combined with post-pandemic recovery of occupancy levels. As we have noted previously, the challenging situation in the labour market for care workers in Finland, as well as high inflation, have affected our estimate of when the profit target will be reached. Now that the renegotiations of contracts in care for older people in Finland are by and large complete, we see good potential to achieve SEK 4 per share in 2024, one or a few quarters later than originally planned. Financial performance improved in Q1 and we expect further improvements in Q2. Quarterly sustainability reporting from 2023 According to the UN's Agenda 2030, a sustainable society is based on people with needs having good and equal access to high-quality health and care services. As a large care company, our focus areas for sustainability lie primarily within the social dimension, with a focus on our customers, quality and care solutions and employees. In the past, we have reported sustainability data annually, but starting in 2023, we will gradually increase reporting quarterly as well. This quarter we can see that customer satisfaction increased in both Sweden and Finland. We are also starting to report the measurements we make in the area of quality of life starting in Finland, where the RAI methodology gives us the opportunity to measure perceived quality of life. Continuously measuring quality of life is key to meeting the individual's needs in order to provide person-centred care. It also supports the ambition our company has had since the beginning in 1985 and which we have been expressing for over 20 years as "empowering the individual". Commitment is the key to good care We know that empowered and committed employees are the single-most important factor in realising our ambition to achieve high-quality care and the highest customer satisfaction in every location of operation. We also know that structural demand for care workers is increasing in pace with an ageing population and higher staffing requirements. There has been imbalance in the Finnish labour market for several years. We are working intensively to address this situation and to attract and retain the best employees. We have made major strides in the past year in Finland, where the situation has been the most critical. Among other actions, we have implemented and improved our induction programme for all employees, expanded our internal training academy and implemented an updated leadership programme for all managers. We have also expanded leadership training for all new managers in Sweden and launched several initiatives to create clearer career paths for our employees and position Attendo as a preferred employer. We strongly believe that satisfied employees are the key to delivering good care and ensuring that more people choose Attendo in the future. Martin Tivéus, President and CEO ===== SIDA 4 ===== Attendo Interim report Q1, January-March 2023 4 (31) Group January - March 2023 Net sales and operating profit Net sales increased by 16.1 percent to SEK 4,044m (3,482) during the quarter. Adjusted for currency effects, net sales increased by 11.7 percent. Organic growth accounted for 8.9 percent and the net change due to acquisitions and divestments was 2.9 percent. Organic growth increased significantly and it was attributable mainly to increased net sales in Attendo Finland arising primarily from price increases. Lease adjusted operating profit (EBITA) amounted to SEK 116m (31). The lease adjusted operating margin (EBITA) was 2.9 percent (0.9). Profits increased sharply in Attendo Finland, but decreased slightly in Attendo Scandinavia. Profit growth in Attendo Finland is explained mainly by price increases that exceeded cost increases in care for older people nursing homes, as well as generally lower sick leave. The profit decline in Scandinavia was explained mainly by weaker financial performance in home care, as well as received public compensation in the comparison quarter related to increased sick leave costs. Sick leave in the business areas was significantly lower than in the comparison quarter and also decreased compared to Q4 2022, but remains at a high level. Effects on operating profit (EBITA) related to IFRS 16 amounted to SEK 125m (111). Operating profit (EBITA) amounted to SEK 241m (142) and the operating margin was 6.0 percent (4.1). Currency effects amounted to SEK 9m. Operating profit (EBIT) amounted to SEK 226m (127), corresponding to an operating margin (EBIT) of 5.6 percent (3.6). The change is attributable to the same factors described above. The total number of beds in operation in all homes was 20,923 (21,155) at the end of the quarter. The reason for the lower number of beds is related to ended outsourcing units in Sweden and to closed down nursing homes in Finland. Occupancy in all homes was 86 percent (84) at the end of the quarter. The number of beds under construction in own operations was 325 across 6 homes. Net sales per business area, Q1 2023 (SEKm) Lease adjusted operating profit (EBITA) per business area, Q1 2023 (SEKm) Lease adjusted operating profit (EBITA) per quarter (SEKm) Adjusted earnings per share, r12 (SEK) 1,607 1,8751,692 2,352 Scandinavia Finland Q1 2022 Q1 2023 66 -18 61 73 Scandinavia Finland Q1 2022 Q1 2023 53 208 65 -11 171 8 31 116 Q2 Q3 Q4 Q1 2021 2022 2023 1.31 0.98 0.96 0.68 1.03 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 ===== SIDA 5 ===== Attendo Interim report Q1, January-March 2023 5 (31) Net financial items Net financial items amounted to SEK -190m (-169) for the quarter, including net interest expense of SEK -30m (-9). Interest expense related to the lease liability real estate in accordance with IFRS 16 amounted to SEK -163m (-153). Tax Income tax for the period amounted to SEK -8m (10), corresponding to a tax rate of 22.3 percent (23.1). Profit and earnings per share for the period Profit for the period was SEK 28m (-32), corresponding to basic and diluted earnings per share for shareholders in the parent company of SEK 0.17 (-0.20). Adjusted earnings per share after dilution were SEK 0.43 (0.09). ===== SIDA 6 ===== Attendo Interim report Q1, January-March 2023 6 (31) Business area: ATTENDO SCANDINAVIA More sold own nursing home beds Net sales by service offering, Q1 2023 January–March 2023 Net sales in Attendo Scandinavia amounted to SEK 1,692m (1,607), corresponding to growth of 5.3 percent including currency effects and 5.1 percent excluding currency effects. The increase is attributable primarily to higher net sales in nursing homes, mainly a result of more sold beds. Net sales in home care and outsourced nursing homes decreased. The number of sold beds and occupancy in homes increased sharply in relation to the comparison quarter and occupancy also increased compared to Q4 2022. Lease adjusted EBITA amounted to SEK 61m (66), corresponding to a lease-adjusted operating margin of 3.6 percent (4.1). Profits in home care decreased due to fewer performed hours and lower efficiency. Price increases in 2023 do not fully compensate for the historically high cost increases. Attendo Scandinavia received public compensation for costs related to sick leave in the comparison quarter. Sick leave was lower than in the comparison quarter and Q4 2022, but remains at a high level. Profits were positively affected by the significant increase of sold beds in own nursing homes (CoP). Calendar effects had minor positive effect on profits. Effects on operating profit related to IFRS 16 amounted to SEK 48m (47). Operating profit (EBITA) amounted to SEK 109m (113), corresponding to an operating margin (EBITA) of 6.4 percent (7.0). Beds and contracts Attendo Scandinavia opened one nursing home with 58 beds in Denmark and closed one nursing home in Sweden. At the end of the quarter, there were 83 beds under construction in own operations. Attendo Scandinavia lost a large outsourcing contract during the quarter and annual sales for outsourcing contracts won but not yet started and outsourcing contracts lost but not yet ended are thus estimated to SEK -250m. Jan-Dec SEKm 2023 2022 2022 Net sales 1,692 1,607 6,599 Lease adjusted EBITA 61 66 380 Lease adjusted EBITA margin, % 3.6 4.1 5.8 Operating profit (EBITA) 109 113 577 Operating margin (EBITA), % 6.4 7.0 8.7 Q1 60% 18% 14% 5% 2% Nursing homes (CoP) Home care Disabled care Individual and family care Social psychiatry ===== SIDA 7 ===== Attendo Interim report Q1, January-March 2023 7 (31) Business area: ATTENDO SCANDINAVIA Beds and customers Attendo Scandinavia Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Number of beds in homes in operation¹ 7,078 7,129 7,070 6,986 6,961 Occupancy in homes¹, % 81 82 85 85 86 Number of opened beds² 60 84 - - 58 Number of beds, construction start in the quarter² 60 5 - - - Number of beds under construction² 220 141 141 141 83 Number of home care customers n.i. n.i. 8,235 8,230 8,180 1) All homes. 2) Own homes. Attendo’s definition of home care customers was changed 2023. Historical periods with available data have been adjusted. ===== SIDA 8 ===== Attendo Interim report Q1, January-March 2023 8 (31) Business area: ATTENDO FINLAND Significant progress during the quarter Net sales by service offering, Q1 2023 January - March 2023 Net sales in Attendo Finland amounted to SEK 2,352m (1,875) corresponding to growth of 25.5 percent. Adjusted for currency effects, net sales increased by 17.5 percent. The growth is attributable to higher net sales, primarily in nursing homes due to price increases, and acquisitions. Total price increases amounted to about 12 percent. Subsequent to the comparison quarter, Attendo has closed a number of homes due to staff shortages or problems related to occupancy. Occupancy in homes increased in relation to the comparison quarter and to Q4 2022, in spite of the challenging staffing situation. Lease adjusted EBITA amounted to SEK 73m (-18) and lease adjusted EBITA margin was 3.1 percent (-1.0). The profit increase is explained primarily by higher price increases than cost increases, but also by lower sick leave costs, as well as positive profit contribution from acquisitions. Sick leave was significantly lower than in the comparison quarter and also lower than in Q4 2022. Price increases in care for people with disabilities and social psychiatry did not fully compensate for the high cost increases. Calendar effects had minor positive effect on profits. Effects on operating profit (EBITA) related to IFRS 16 amounted to SEK 77m (64). Operating profit (EBITA) amounted to SEK 150m (46) and the operating margin (EBITA) was 6.4 percent (2.5). Currency effects amounted to SEK 10m. Beds and contracts Construction of one nursing home started during the quarter and the total number of beds under construction in own operations at the end of the quarter was 242. x x Jan-Dec SEKm 2023 2022 2022 Net sales 2,352 1,875 7,897 Lease adjusted EBITA 73 -18 -111 Lease adjusted EBITA margin, % 3.1 -1.0 -1.4 Operating profit (EBITA) 150 46 167 Operating margin (EBITA), % 6.4 2.5 2.1 Q1 70% 11% 9% 10% Nursing homes (CoP) Social psychiatry Disabled care Other (Rehab, food svcs., etc.) ===== SIDA 9 ===== Attendo Interim report Q1, January-March 2023 9 (31) Business area: ATTENDO FINLAND Beds and customers Attendo Finland Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Number of beds in homes in operation¹ 14,077 13,933 14,012 13,946 13,962 Occupancy in homes¹, % 85 85 85 85 86 Number of opened beds² - - 130 - - Number of beds, construction start in the quarter² - - - 101 58 Number of beds under construction² 213 213 83 184 242 Number of home care customers 550 607 590 586 493 1) All homes. 2) Own homes. ===== SIDA 10 ===== Attendo Interim report Q1, January-March 2023 10 (31) Cash flow January - March 2023 Free cash flow was SEK 8m (57) during the quarter, whereof changes in working capital amounted to SEK -103m (67). The negative effect in working capital is due partly to an increase in trade receivables following new administrative procedures in the new welfare regions in Finland. Cash flow from operations was SEK 361m (384). Cash used for net investments in non-current assets was SEK -28m (-59). Cash flow from investing activities thus amounted to SEK -32m (-65). Cash flow from financing activities was SEK -263m (-318). Bank loans of SEK 112m (-) were raised during the quarter and bank loans of SEK 50m (50) were repaid. Total cash flow amounted to SEK 66m (1). Financial position Equity attributable to shareholders in the parent company amounted to SEK 5,037m (4,925) as of 31 March 2023, representing diluted equity per share attributable to shareholders in the parent of SEK 31.30 (30.77). Net debt amounted to SEK 15,249m (13,752). Lease adjusted net debt, excluding lease liability real estate, amounted to SEK 1,878m (1,536). Interest-bearing liabilities amounted to SEK 15,827m (14,278) on 31 March 2023. Cash and cash equivalents as of 31 March 2023 amounted to SEK 575m (517) and Attendo had SEK 1,488m (1,750) in unutilised credit facilities. Net debt/EBITDA was 6.5 (6.3). Lease adjusted net debt/lease adjusted EBITDA was 3.6 (2.7). 31 Dec SEKm 2023 2022 2022 Interest-bearing liabilities 15,827 14,278 14,805 Provision for post- employment benefits -3 -9 0 Cash and cash equivalents -575 -517 -507 Net debt 15,249 13,752 14,298 Lease liability real estate -13,371 -12,216 -12,440 Lease adjusted net debt 1,878 1,536 1,858 31 Mar 31 Dec SEKm 2023 2022 2022 Net debt / EBITDA 6.5 6.3 6.6 Lease adjusted net debt / Lease adjusted EBITDA 3.6 2.7 4.4 31 Mar ===== SIDA 11 ===== Attendo Interim report Q1, January-March 2023 11 (31) Sustainablity: SUSTAINABLE CARE Sustainability in quarterly reporting Attendo works systematically and purposefully with sustainability within five focus areas. These focus areas - Quality of life, Value-adding care solutions, Empowered employees, Environment in mind and Responsible operations are based on Attendo's business strategy and guiding objectives. As a large care company, our focus areas for sustainability lie primarily within the social dimension, with customers and employees in particular focus of our work to create better care for more people. During 2022, Attendo established a number of new KPIs for the focus areas, with the aim to ensure measurable outcomes of our work. These key figures were presented in the annual report for 2022. From the first quarter onwards, the KPIs will also be reported on a quarterly basis, together with important activities and progress in each focus area. There are still few generally accepted standards for measuring quality and outcomes in social care. Our ambition is to develop and report outcome measures that both put the customer at the center and contribute to standardization within the sector. This is a long-term commitment and the measures we work with today will be continuously developed. Value-adding care solutions: New tool for systematic quality development In the beginning of March, Attendo Scandinavia introduced a new support tool for systematic quality assurance. The new tool will simplify and even better support planning and follow-up of the quality work at local, regional and segment level. It will also provide enhanced analytics capabilities, supporting the development of best practices. Quality of life: the RAI method and ASCOT Attendo Finland started applying the RAI method, which has been statutory since April 2023, on a smaller scale already in 2015. RAI is used to assess customers' health status and has been developed to increase each individual's self- determination and to adapt the care to the individual's needs and wishes, very well in line with Attendo's vision. The work to implement RAI in all relevant units in Attendo Finland is ongoing and will gradually provide both comparability and increased insights into how the care can be developed. In the spring, another 24 operations in Attendo Scandinavia begin to use the ASCOT method for quality of life interviews, after which the method is introduced in approximately one third of Attendo's nursing homes. In parallel, Attendo's quality index, which measures e.g. process quality in Attendo's operations, is being developed. Attendo’s focus areas and ambitions Focus area Ambition Quality of life Attendo should create wellbeing and meaning in day-to-day life and be a leader in customer satisfaction. Value-adding care solutions Attendo should make reliable, innovative and cost-effective care available as a preferred partner to local authorities. Empowered employees Attendo should be a preferred employer that exhibits outstanding leadership and encourages personal growth and equal opportunities. Environment in mind Attendo should be a resource-efficient care provider on a path towards net zero greenhouse gas emissions. Responsible operations Attendo should be a reliable care provider that delivers values-driven care that is robust and transparent. ===== SIDA 12 ===== Attendo Interim report Q1, January-March 2023 12 (31) Sustainablity: SUSTAINABLE CARE Key sustainability figures for Q1 2023 Focus area Key figures Outcome Comments Quality of life Customer satisfaction, cNPS (-100 to +100) 38 Percentage of customers that answered 9 or 10 (0-10) when asked how likely it is that they would recommend Attendo minus the percentage that answered 6 or below. The measurement refers to Q1 2023. The outcome in Q4 2022 was 36. Relatives satisfaction, rNPS (-100 till +100) 29 Percentage of relatives of customers that answered 9 or 10 (0-10) when asked how likely it is that they would recommend Attendo minus the percentage that answered 6 or below. The measurement was carried out in Q4 2022. AQ quality index (0-100, Scandinavia only) 90 The Attendo Quality Thermometer (AQ23). The outcome refers to reported AQ23 indicators in Q1 2023. The outcome in Q4 2022 was 89. This measure is intended to be replaced with ASCOT (quality of life) outcomes as soon as possible. RAI index (0-10, Finland only) 5.5 Measured quality of life based on weighted average of reported RAI indicators in Attendo Finland in Q1 2023. Value-adding care solutions Number of customers who receive care from Attendo 27,600 Refers to beds sold in homes, daily activities, rehabilitation, family care home placements and home care services customers in Q1 2023. Note that Attendo updated the definition of home care services customers in 2023. The number of customers in Q4 2022 was 27,500 (according to the new definition). Beds opened in own operations (capacity made available), r12 272 Refers to beds in residential homes in own operations opened in the past twelve months. Beds under construction in own operations (investment in new capacity), r12 164 Refers to beds in residential homes in own operations for which construction began in the past twelve months. Empowered employees Employee satisfaction, eNPS (-100 till +100) 6 Percentage of employees that answered 9 or 10 (0-10) when asked how likely it is that they would recommend Attendo minus the percentage that answered 6 or below. Measurement in Q4 2022 (AF) and Q1 2023 (AS) Short-term sick leave, % 6.5 Percentage short-term sick leave. Average in Q1 2023. The outcome in Q4 2022 was 7.6%. Environment in mind Emissions of climate gases, g/SEK 1.5 Emissions of climate gases, grams CO2e per SEK in turnover. Refers to the full year 2022. Responsible operations N/A - Key figures for this focus area are being developed. ===== SIDA 13 ===== Attendo Interim report Q1, January-March 2023 13 (31) Sustainablity: SUSTAINABLE CARE Quality audits and deviations Attendo has strict procedures for managing care deviations. This includes procedures for reporting, managing and following up deviations from internal guidelines or methods, as well as serious incidents that led to or risked leading to health and care injuries to individuals (under the Swedish Lex Sarah and Lex Maria statutes in Sweden). Attendo’s operations are supervised and comprehensively audited by national regulatory authorities, such as the Regional State Administrative Agency (AVI) in Finland and the Health and Social Care Inspectorate (IVO) in Sweden, as well as by contracting local authorities. As a leading care provider, Attendo attaches great importance to both learning from and transparency regarding reported deviations, various types of inspections and their outcomes. Procedures for self-reporting to and supervision by regulators and the classification of deviations and supervisory cases differ between Attendo's markets. Attendo reports both cases of a serious nature (Sweden) and the number of official cases in progress (Finland). Scandinavia A total of seven cases were reported in Q1 to IVO in Sweden according to Lex Sarah or Lex Maria. Finland Two cases were opened by AVI in Finland during Q1 and 24 cases were closed. The total number of cases opened was about 50 at the end of Q1. ===== SIDA 14 ===== Attendo Interim report Q1, January-March 2023 14 (31) Other information Acquisitions There were no acquisitions during the quarter. Changes in executive management Attendo has appointed Mikael Malmgren Chief Financial Officer (CFO) and member of executive management. His most recent role prior to joining Attendo was Senior Vice President at McKinsey. Mikael will assume the role of CFO of Attendo in June. Attendo’s current CFO Fredrik Lagercrantz will continue in his role until Mikael takes over. Number of shares The total number of shares is 161,386,592. Attendo holds 453,697 treasury shares and the total number of shares outstanding as of 31 March 2023 was thus 160,932,895. Number of employees The average number of employees in Q1 was 20,699 (19,749). Related party transactions Transactions with related parties are described in the annual report. Related-party transactions take place on market terms. There were no significant transactions with related parties during the period. Parent company, Attendo AB (publ) The business of the parent company is to provide services to the subsidiaries and manage shares in subsidiaries. The company’s expenses relate mainly to executive salaries, directors’ fees and costs for external consultants. Net sales for the period of January–March amounted to SEK 5m (4), and were entirely related to services provided to subsidiaries. The loss for the period after net financial items was SEK -8m (-8). At the end of the quarter, cash and cash equivalents amounted to SEK 0 (0), shares in subsidiaries to SEK 6,494m (6,494), and non-restricted equity to SEK 6,658m (6,564). Seasonal and calendar effects Attendo’s profitability is affected by factors including seasonal variations, weekends and national public holidays. For Attendo, public holidays and weekends have a negative effect on profitability mainly due to wage compensation for unsocial working hours. For example, profitability is affected by Easter in either the first or second quarter, depending on the quarter in which Easter falls, while the first and fourth quarters are affected by the Christmas and New Year’s holidays. Roundings Note that roundings occur in text, charts and tables. Significant events after the reporting date Annual General Meeting The annual general meeting of shareholders in Attendo AB will be held 26 April 2023 at 16:30 CEST in Danderyd, Sweden. ===== SIDA 15 ===== Attendo Interim report Q1, January-March 2023 15 (31) Risks and uncertainties As a large company with a mission that is essential to society – empowering every individual in our care – and many stakeholders, Attendo is exposed to various types of risks and uncertainties. The work to identify, analyse, assess and manage these risks and uncertainties is a key component of Attendo’s strategy and operations. All business requires companies to take risks in various forms and to various extents. Risk management, defined as the work involved in identifying, managing and monitoring risks, is a key component of Attendo’s strategy and operations. Attendo takes a structured approach to managing risks based on a framework that covers industry and market risks, operational risks and financial risks. External risks related to the conditions for private companies to operate care businesses, political risks, regulatory risks and reputational risks. Operational risks refer to risks directly linked to Attendo’s operations, such as occupancy, pricing and access to skilled employees. Financial risks are related to factors including access to capital, exchange rates, interest rates and liquidity. The risks and how Attendo manages them are described in greater detail in Attendo’s annual report (see the “Risks and risk management” section in the 2022 annual report, pages 57-60). Current risks Based on Attendo’s strategic focus areas and financial targets, the reform of Finnish care for older people and its effects, availability of qualified staff and the historically high inflation rate are the most significant risks at present. These risks, however, also entail opportunities for Attendo, in its capacity as a large and leading provider in Nordic care, to have favourable impact on long-term conditions in the sector. The Finnish reform in care for older people A comprehensive care reform is ongoing in Finland. One of the aspects of the reform is that staffing requirements have been increased in several steps and are planned to increase further in 2023. Higher staffing requirements entail higher costs for all providers. Private providers must negotiate with each local region on price compensation for staffing changes, which entails uncertainty. Costs also arise before each step (staffing requirements) takes effect and there is consequently a lag before compensation is received. Staff provision in Finnish care for older people is generally strained and has been exacerbated by the reform. A challenging business environment The Russian invasion of Ukraine has no direct impact on Attendo, as Attendo does not operate in either country. The company is, however, suffering indirect impact in the form of higher prices for fuel, energy, food and consumable supplies. There is high risk that it will not be possible to cover increased purchasing costs by raising prices during the year that the costs affect Attendo because compensation for inflation and comparable compensation is normally received after a delay according to contracts with Attendo’s payors and is to a certain extent dependent upon political decisions. Continued impact of the Covid pandemic The Corona pandemic remains a risk for Attendo, with serious impact on Attendo’s business and financial performance. At present, the primary effects of the pandemic are increased personnel costs due to high absenteeism due to illness among employees and lower occupancy. ===== SIDA 16 ===== Attendo Interim report Q1, January-March 2023 16 (31) Accounting policies The group applies International Financial Reporting Standards (IFRS) and interpretations from IFRIC, as adopted by the European Union, the Swedish Financial Reporting Board’s standard RFR 1 Supplementary Accounting Rules for Groups and related interpretations and the Swedish Annual Accounts Act. This interim report has been prepared according to IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act and should be read together with the annual report for 2022. The most significant accounting policies under IFRS, the reporting norm applied in preparing this interim report, are set forth in Note C1 on pages 72-76 of the annual report for 2022, which were applied to the preparation of this interim report. The interim information on pages 1-15 is an integrated part of this financial report. The parent company’s financial statements are prepared in accordance with the Swedish Annual Accounts Act and the Swedish Financial Reporting Board’s recommendation, RFR 2 Accounting for Legal Entities. Outlook Attendo does not publish forecasts. Danderyd, April 26, 2023 Martin Tivéus President and CEO ===== SIDA 17 ===== Attendo Interim report Q1, January-March 2023 17 (31) Financial reports Consolidated Income Statement Consolidated Statement of Comprehensive Income Jan-Dec SEKm 2023 2022 2022 Net sales 4,044 3,482 14,496 Other operating income 11 4 61 Total revenue 4,055 3,486 14,557 Personnel costs -2,665 -2,381 -9,929 Other external costs -725 -598 -2,454 Operating profit before amortization and depreciations (EBITDA) 665 507 2,174 Amortization and depreciation of tangible and intangible assets -424 -365 -1,500 Operating profit after depreciation (EBITA) 241 142 674 Operating margin (EBITA), % 6.0 4.1 4.6 Amortization and write-down of acquisition related intangible assets -15 -15 -58 Operating profit (EBIT) 226 127 616 Operating margin (EBIT), % 5.6 3.6 4.2 Net financial items -190 -169 -658 Profit before tax 36 -42 -42 Income tax -8 10 -2 Profit for the period 28 -32 -44 Profit margin, % 0.7 -0.9 -0.3 Profit for the period attributable to: Parent company shareholders 28 -33 -45 Non-controlling interest - 1 1 Basic earnings per share, SEK 0.17 -0.20 -0.28 Diluted earnings per share, SEK 0.17 -0.20 -0.28 Average number of shares outstanding, basic, thousands 160,933 160,913 160,925 Average number of shares outstanding, diluted, thousands 160,940 160,932 160,938 Q1 Jan-Dec SEKm 2023 2022 2022 Profit for the period 28 -32 -44 Other comprehensive income for the period Items that will not be reclassified to profit or loss Remeasurements of defines benefit pension plans, net of tax 1 10 1 Items that may be reclassified to profit or loss Exchange rate differences on translating foreign operations attributable to the parent company shareholders 7 16 85 Other comprehensive income for the period 8 26 86 Total comprehensive income for the period 36 -6 42 Total comprehensive income attributable to: Parent company shareholders 36 -7 41 Non-controlling interest - 1 1 Q1 ===== SIDA 18 ===== Attendo Interim report Q1, January-March 2023 18 (31) Consolidated Balance Sheet SEKm 31 Mar 2023 31 Mar 2022 31 Dec 2022 ASSETS Non-current assets Goodwill 7,238 6,906 7,204 Other intangible assets 496 487 504 Equipment 632 547 642 Right-of-use assets 12,017 10,910 11,118 Financial assets 533 457 512 Total non-current assets 20,916 19,307 19,980 Current assets Trade receivables 1,558 1,303 1,400 Other current assets 464 472 437 Cash and cash equivalents 575 517 507 2,597 2,292 2,344 Assets held for sale 1 6 1 Total current assets 2,598 2,298 2,345 Total assets 23,514 21,605 22,325 EQUITY and LIABILITIES Equity Equity attributable to the parent company shareholders 5,037 4,925 5,001 Non-controlling interest - 26 - Total equity 5,037 4,951 5,001 Non-current liabilities Liabilities to credit institutions 2,414 2,034 2,330 Long-term lease liabilities¹ 12,039 11,102 11,246 Provisions for post-employment benefits 0 0 0 Long term provisions 101 76 88 Other non-current liabilities 166 107 165 Total non-current liabilities 14,720 13,319 13,829 Current liabilities Liabilities to credit institutions - - - Short-term lease liabilities² 1,374 1,141 1,229 Trade payables 347 411 462 Short-term provisions 36 39 49 Other current liabilities 2,000 1,740 1,755 3,757 3,331 3,495 Liabilities held for sale 0 4 0 Total current liabilities 3,757 3,335 3,495 Total equity and liabilities 23,514 21,605 22,325 1) Long-term lease liabilities include car leases amounting to SEK 10m (2m) and full year 2022 15. 2) Short-term lease liabilities include car leases amounting to SEK 32m (25m) and full year 2022 20. ===== SIDA 19 ===== Attendo Interim report Q1, January-March 2023 19 (31) Consolidated Cash Flow Statement Consolidated Statement of Changes in Equity Jan-Dec Operational cash flow (alternative performance measure), SEKm 2023 2022 2022 Operating profit (EBITA)¹ 241 142 674 Depreciation and amortization of tangible and intangible assets 424 365 1,500 Changes in working capital -103 67 -70 Paid income tax -19 -27 -60 Other non-cash items -5 0 -51 Cash flow after changes in working capital 538 547 1,993 Investments on tangible and intangible assets -34 -61 -204 Divestments of tangible and intangible assets 6 2 17 Operating cash flow 510 488 1,806 Interest received/paid -14 -10 -55 Interest expense for lease liabilities of real estate -163 -153 -605 Repayment of lease liabilities -325 -268 -1,122 Free cash flow 8 57 24 Net change in assets and liabilities held for sale - - 1 Acquisition of operations -4 -6 -204 Divestment of subsidiaries - - - Warrants - - 2 Repayment of loans -50 -50 -100 New borrowings 112 - 250 Total cash flow 66 1 -27 Cash and cash equivalents at the beginning of the period 507 513 513 Effect of exchange rate changes on cash 2 3 21 Cash and cash equivalents at the end of the period 575 517 507 Jan-Dec Cash flow according to IFRS, SEKm 2023 2022 2022 Cash flow from operations 361 384 1,333 Cash flow from investing activities -32 -65 -390 Cash flow from financing activities -263 -318 -970 Total cash flow 66 1 -27 Q1 Q1 SEKm 31 Mar 2023 31 Mar 2022 31 Dec 2022 Opening balance 5,001 4,957 4,957 Total comprehensive income attributable to: The parent company shareholders 36 -7 41 Non-controlling interest - 1 1 Transactions with owners Warrants - - 2 Share-savings plan - - 0 Total transactions with owners - - 2 Transactions with non-controlling interest - - 0 Closing balance 5,037 4,951 5,001 Equity attributable to: Parent company shareholders 5,037 4,925 5,001 Non-controlling interests - 26 - ===== SIDA 20 ===== Attendo Interim report Q1, January-March 2023 20 (31) Segment in Summary Net Financial Items SEKm Q1 2023 Q1 2022 Helår 2022 Q1 2023 Q1 2022 Helår 2022 Q1 2023 Q1 2022 Helår 2022 Q1 2023 Q1 2022 Helår 2022 Net sales 1,692 1,607 6,598 2,352 1,875 7,897 - - - 4,044 3,482 14,495 - Net sales, own operations 1,280 1,231 5,114 2,290 1,862 7,852 - - - 3,570 3,093 12,966 - Net sales, outsourcing 412 376 1,484 62 13 45 - - - 474 389 1,529 Lease adjusted EBITA 61 66 380 73 -18 -111 -18 -17 -70 116 31 199Lease adjusted operating margin (EBITA), % 3.6 4.1 5.8 3.1 -1.0 -1.4 - - - 2.9 0.9 1.4 Operating profit (EBITA) 109 113 57 150 46 167 -18 -17 -70 241 142 154 Operating margin (EBITA), % 6.4 7.0 0.9 6.4 2.5 2.1 - - - 5.9 4.1 1.1 Other and eliminations Group Scandinavia Finland Jan-Dec SEKm 2023 2022 2022 Net interest expense (excluding lease liabilities for real estate) -30 -9 -49 Interest expense, lease liabilities for real estate -163 -153 -605 Other 3 -7 -4 Net financial items -190 -169 -658 Q1 ===== SIDA 21 ===== Attendo Interim report Q1, January-March 2023 21 (31) Investments Financial Assets and Liabilities The table shows the Group’s significant financial assets and liabilities. Assets and liabilities recognized as loans and receivables, and other financial liabilities are valued at amortized cost. Fair value for all financial assets and liabilities are equal to the carrying value. For complete table and further information see Attendo’s Annual report 2021, note C26. Valuation technique Level 3: The fair value of contingent considerations is based on estimated outcome from the contractual clauses in the share purchase agreements. Pledged Assets and Contingent Liabilities Jan-Dec SEKm 2023 2022 2022 Investments Investments in intangible assets 3 22 36 Investments in tangible assets 34 39 168 Divestments of tangible and intangible assets -9 -2 -17 Total net investments 28 59 187 Intangible assets acquired through business combination Goodwill 1 6 124 Customer relations 4 0 34 Other - - - Total intangible assets acquired through business combination 5 6 158 Q1 SEKm 31 Mar 2023 31 Mar 2022 31 Dec 2022 ASSETS Financial assets measured at fair value Trade receivables 1,558 1,303 1,400 Cash and cash equivalents 575 517 507 Total financial assets 2,133 1,820 1,907 LIABILITIES Contingent considerations 56 - 56 Purchase option from non-controlling interests - 21 - Financial liabilities measured at amortised cost Borrowings 2,414 2,034 2,330 Lease liabilities 13,413 12,243 12,475 Trade payables 347 411 462 Total financial liabilities 16,230 14,709 15,323 Financial liabilities at fair value through profit or loss SEKm 31 Mar 2023 31 Mar 2022 31 Dec 2022 Assets pledged as collateral 72 53 64 Contingent liabilities¹ 2,494 3,013 2,510 1) Leases of assets not yet in use are reported in contingent liabilities. Contingent liabilities also include a potential outflow of resources to complete acquisitions of real estate and operations from a few local authorities in Finland. ===== SIDA 22 ===== Attendo Interim report Q1, January-March 2023 22 (31) Adjusted Earnings and Adjusted Earnings per Share Q1 2023 SEKm Reported Acq.¹ IFRS 16² Total adj. Adjusted earnings Net sales 4,044 - - - 4,044 Other operating income 11 - - - 11 Operating profit before amortization and depreciation (EBITDA) 665 - -488 -488 177 Amortization and depreciation of tangible and intangible assets -424 - 363 363 -61 Operating profit (EBITA) 241 - -125 -125 116 Amortization and write-down of acquisition related intangible assets -15 15 - 15 - Operating profit (EBIT) 226 15 -125 -110 116 Net financial items -190 - 163 163 -27 Profit before tax (EBT) 36 15 38 53 89 Income tax -8 -3 -8 -11 -19 Profit for the period 28 12 30 42 70 Profit for the period attributable to: The parent company shareholders 28 12 30 42 70 Non-controlling interests - - - - - Average number of shares outstanding, diluted, thousands 160,940 160,940 160,940 160,940 160,940 Earnings per share diluted, SEK 0.17 0.07 0.19 0.26 0.43 Profit for the period attributable to the parent company shareholders excluding amortization of acquisition related intangible assets (1)and IFRS 16 (2) and related tax effects divided with the average number of shares outstanding, after dilution. ===== SIDA 23 ===== Attendo Interim report Q1, January-March 2023 23 (31) Adjusted Earnings and Adjusted Earnings per Share Q1 2022 SEKm Reported Acq.¹ IFRS 16² Total adj. Adjusted earnings Net sales 3,482 - - - 3,482 Other operating income 4 - - - 4 Operating profit before amortization and depreciation (EBITDA) 507 - -421 -421 86 Amortization and depreciation of tangible and intangible assets -365 - 310 310 -55 Operating profit (EBITA) 142 - -111 -111 31 Amortization and write-down of acquisition related intangible assets -15 15 - 15 - Operating profit (EBIT) 127 15 -111 -96 31 Net financial items -169 - 153 153 -16 Profit before tax (EBT) -42 15 42 57 15 Income tax 10 -3 -8 -11 -1 Profit for the period -32 12 34 46 14 Profit for the period attributable to: The parent company shareholders -33 12 34 46 13 Non-controlling interests 1 - - - 1 Average number of shares outstanding, diluted, thousands 160,932 160,932 160,932 160,932 160,932 Earnings per share diluted, SEK -0.20 0.08 0.21 0.29 0.09 Profit for the period attributable to the parent company shareholders excluding amortization of acquisition related intangible assets (1)and IFRS 16 (2) and related tax effects divided with the average number of shares outstanding, after dilution. ===== SIDA 24 ===== Attendo Interim report Q1, January-March 2023 24 (31) Adjusted Earnings and Adjusted Earnings per Share Jan-Dec 2022 SEKm Reported Acq.¹ IFRS 16² Total adj. Adjusted earnings Net sales 14,496 - - - 14,496 Other operating income 61 - -19 -19 42 Operating profit before amortization and depreciation (EBITDA) 2,174 - -1,748 -1,748 426 Amortization and depreciation of tangible and intangible assets -1,500 - 1,273 1,273 -227 Operating profit (EBITA) 674 -475 -475 199 Amortization and write-down of acquisition related intangible assets -58 58 - 58 - Operating profit (EBIT) 616 58 -475 -417 199 Net financial items -658 - 605 605 -53 Profit before tax (EBT) -42 58 130 188 146 Income tax -2 -12 -23 -35 -37 Profit for the period -44 46 108 154 110 Profit for the period attributable to: The parent company shareholders -45 46 108 154 109 Non-controlling interests 1 - - - 1 Average number of shares outstanding, diluted, thousands 160,938 160,938 160,938 160,938 160,938 Earnings per share diluted, SEK -0.28 0.29 0.67 0.95 0.68 Profit for the period attributable to the parent company shareholders excluding amortization of acquisition related intangible assets (1)and IFRS 16 (2) and related tax effects divided with the average number of shares outstanding, after dilution. ===== SIDA 25 ===== Attendo Interim report Q1, January-March 2023 25 (31) Key Data Jan-Dec 2023 2022 2022 Organic growth % 8.9 8.2 6.8 Acquired growth % 2.9 3.3 3.0 Change in currencies % 4.4 2.2 2.9 Operating margin (EBITA margin) r12 % 5.1 6.0 4.7 Lease adjusted operating margin (lease adjusted EBITA margin) r12 % 1.9 2.7 1.4 Working capital SEKm -360 -414 -429 Return on capital employed % 3.6 3.9 3.2 Net debt to equity ratio times 3.0 2.8 2.9 Equity to asset ratio % 21 23 22 Net debt/EBITDA r12 times 6.5 6.3 6.6 Lease adjusted net debt / Lease adjusted EBITDA times 3.6 2.7 4.4 Free cash flow SEKm 8 57 24 Net investments SEKm -28 -59 -187 Average number of employees 20,699 19,749 20,821 Key data per share Earnings per share, basic SEK 0.17 -0.20 -0.28 Earnigns per share, diluted SEK 0.17 -0.20 -0.28 Adjusted earnings per share, diluted SEK 0.43 0.09 0.68 Equity per share, basic SEK 31.30 30.77 31.07 Equity per share, diluted SEK 31.30 30.77 31.07 Average number of shares outstanding, basic thousands 160,933 160,913 160,925 Average number of shares outstanding, diluted thousands 160,940 160,932 160,938 Number of shares, end of period thousands 161,387 161,387 161,387 Number of treasury shares, end of period thousands 454 474 454 Number of shares outstanding, end of period thousands 160,933 160,913 160,933 Q1 ===== SIDA 26 ===== Attendo Interim report Q1, January-March 2023 26 (31) Quarterly Data SEKm Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Total net sales 3,207 3,260 3,338 3,482 3,546 3,679 3,789 4,044 - Net sales, own operations 2,849 2,897 2,957 3,093 3,163 3,298 3,412 3,570 - Net sales, outsourcing 358 362 381 389 383 381 377 474 Total net sales 3,207 3,260 3,338 3,482 3,546 3,679 3,789 4,044 - Net sales, Scandinavia 1,489 1,516 1,584 1,607 1,631 1,670 1,691 1,692 - Net sales, Finland 1,718 1,744 1,754 1,875 1,915 2,009 2,098 2,352 Lease adjusted operating profit (EBITDA) 104 261 118 86 46 228 66 177 Lease adjusted operating margin (EBITDA margin), % 3.2 8.0 3.5 2.5 1.3 6.2 1.7 4.4 Lease adjusted operating profit (EBITA) 53 208 65 31 -11 171 8 116 Lease adjusted operating margin (EBITA margin), % 1.7 6.4 2.0 0.9 -0.3 4.7 0.2 2.9 Operating profit (EBITDA) 496 657 511 507 481 673 513 665 Operating margin (EBITDA margin), % 15.5 20.2 15.3 14.6 13.6 18.3 13.5 16.4 Operating profit (EBITA) 162 319 172 142 106 295 131 241 Operating margin (EBITA margin), % 5.1 9.8 5.2 4.1 3.0 8.0 3.5 6.0 Profit for the period -19 95 -8 -32 -63 95 -44 28 Profit margin, % -0.6 2.9 -0.2 -0.9 -1.8 2.6 -1.2 0.7 Earnings per share basic, SEK -0.12 0.58 -0.06 -0.20 -0.39 0.59 -0.27 0.17 Earnings per share diluted, SEK -0.12 0.58 -0.06 -0.20 -0.39 0.59 -0.27 0.17 Adjusted earnings per share diluted, SEK 0.19 0.83 0.21 0.09 -0.14 0.80 -0.07 0.43 Average number of employees 18,518 20,104 19,303 19,749 20,780 21,640 20,403 20,699 Operational data Number of units in operation¹ 716 716 710 711 705 707 705 712 Number of beds in homes² 20,858 20,935 21,093 21,155 21,062 21,082 20,932 20,923 Occupancy in homes, %² 83 83 84 84 84 85 85 86 Number of opened beds³ 236 243 99 60 84 130 - 58 Number of beds, construction start in the quarter³ 52 96 83 60 5 - 101 58 Number of beds under construction³ 608 449 433 433 354 224 325 325 1) All units in all contract models and segments. 2) All homes. 3) Own homes. ===== SIDA 27 ===== Attendo Interim report Q1, January-March 2023 27 (31) Parent Company Income Statement Profit for the period corresponds to total comprehensive income. Parent Company Balance Sheet Jan-Dec SEKm 2023 2022 2022 Net sales 5 4 17 Personnel costs -9 -8 -35 Other external costs -4 -4 -13 Operating profit -8 -8 -31 Net financial items - 0 - Profit after financial items -8 -8 -31 Group contributions - - -98 Profit before tax -8 -8 -129 Results of commission 55 46 243 Income tax -12 -9 -29 Profit for the period 35 29 85 Q1 SEKm 31 Mar 2023 31 Mar 2022 31 Dec 2022 ASSETS Non-current assets Shares in subsidiaries 6,494 6,494 6,494 Total non-current assets 6,494 6,494 6,494 Current assets Receivables to group companies 174 92 206 Other receivables 18 2 18 Cash and cash equivalents 0 0 0 Total current assets 192 94 224 Total assets 6,686 6,588 6,718 EQUITY AND LIABILITIES Equity 6,659 6,565 6,623 Current liabilities Liabilities to group companies 14 10 82 Other liabilities 13 13 13 Total current liabilities 27 23 95 Total equity and liabilities 6,686 6,588 6,718 ===== SIDA 28 ===== Attendo Interim report Q1, January-March 2023 28 (31) Attendo’s operations Attendo is the leading private provider of care services in the Nordics. The company has operations in Sweden, Finland and Denmark. Attendo is the largest private care provider in Sweden and Finland. Attendo is a locally based company and has more than 700 units in operation in about 300 municipalities. The company has about 30,000 employees. With the purpose of empowering the individual, Attendo provides services within care for older people, care for people with disabilities, social psychiatry and care for individuals and relatives. Attendo provides services through two business areas, Attendo Scandinavia and Attendo Finland. Attendo provides care services through two contract models: • Own operations, where Attendo provides services in own controlled units/premises or provides home care in customer choice models. Attendo has own units within care for older people, people with disabilities, social psychiatry and care for individuals and relatives. • Outsourcing operations, where Attendo provides services in publicly controlled units/premises or provides home care services based on outsourcing contracts. Attendo has outsourced units for care for older people, care for people with disabilities and care for individuals and relatives. Local authorities (mainly municipalities) are usually the contracting authorities for a large majority of Attendo’s service offerings, but contract types and duration of contracts vary depending on the contract model and service offering. Own operations are normally based on framework agreements and outsourcing operations are based on outsourcing contracts, following a tender process. The contract period is typically 2-5 years. ===== SIDA 29 ===== Attendo Interim report Q1, January-March 2023 29 (31) Definitions of key data and alternative performance measures (APM) Explanations of financial performance measures Acquired growth (APM) The net between the increase in the company’s net sales from businesses and operations acquired during the past 12 months and loss of net sales from businesses and operations divested during the past 12 months in relation to the comparable period’s net sales. Adjusted earnings per share (APM) Profit or loss for the period attributable to the parent company shareholders excluding effects from amortization and impairment of acquisition related intangible assets, IFRS 16 as well as items affecting comparability and related tax items divided by the number of outstanding shares after dilution. See the tables Adjusted earnings and adjusted earnings per share for more information. Capital employed Equity plus interest-bearing liabilities and provisions for post-employment benefits. See Note C34 Reconciliations of alternative performance measures in the 2022 annual report for a reconciliation of the performance measure on a full year basis. Cash and cash equivalents Cash and bank balances, short term investments and derivatives with a positive fair value. Earnings per share Profit or loss for the period attributable to the parent company shareholders divided by average shares outstanding. Calculated both before (basic) and after dilution. Equity/assets ratio Equity divided by total assets. Equity per share Equity attributable to the parent company shareholders divided by average shares outstanding. Calculated both before (basic) and after dilution. Free cash flow (APM) Free cash flow is a measure of the cash and cash equivalents the group generates in operating activities and investing activities. The performance measure is defined as operating cash flow after changes in working capital, cash flow from investments in and divestments of tangible and intangible assets, received/paid interest as well as interest expense for lease liabilities of real estate and repayment of lease liabilities according to IFRS 16. See the Consolidated cash flow statement for reconciliation and Note C34 Reconciliations of alternative performance measures in the 2022 annual report for a reconciliation of the performance measure on a full year basis. Items affecting comparability Items whose effects on profit are important to pay attention to when profit for the period is compared with earlier periods, such as significant impairment losses and other significant, non-recurring costs or income. Lease adjusted EBITA (APM) See the definition of operating profit (EBITA) below. Lease adjusted operating profit (EBITA) is operating profit according to the previous reporting standard IAS 17, i.e. excluding the effects of the implementation of IFRS 16. Car leases were reported as finance leases under the previous standard. Consequently, it is the effects of leases of real estate under IFRS 16 that differentiate operating profit from lease adjusted operating profit. See the tables Adjusted earnings and adjusted earnings per share for more information. Lease adjusted EBITDA (APM) See the definition of operating profit (EBITDA) below. Lease adjusted operating profit (EBITDA) is operating profit according to the previous accounting standard IAS 17, i.e. excluding the effects of the implementation of IFRS 16. Car leases were reported as finance leases under the previous standard. Consequently, it is the effects of leases of real estate under IFRS 16 that differentiate operating profit from lease adjusted operating profit. See the tables Adjusted earnings and adjusted earnings per share for more information. Lease adjusted net debt (APM) See the definition of net debt below. Lease adjusted net debt is net debt according to the previous reporting standard IAS 17, i.e. excluding the IFRS 16 effect on lease liabilities attributable to right-of-use assets for real estate. See the table showing net debt calculation for more information. Lease adjusted net debt / lease adjusted EBITDA (APM) Lease adjusted net debt in relation to lease adjusted EBITDA r12. Lease adjusted operating margin (EBITA) (APM) Lease adjusted operating profit (EBITA) divided by net sales. Lease adjusted operating margin (EBITDA) (APM) Lease adjusted operating profit (EBITDA) divided by net sales. Net debt (APM) Net debt is a way of describing the group's indebtedness and its ability to repay its debt with cash and cash equivalents if all debts were to be due for payment today. Net debt is defined as interest-bearing liabilities plus provisions for post-employment benefits minus cash and cash equivalents. Net debt is presented both including and excluding lease liabilities attributable to right-of-use assets for real estate. See the section Financial position in this report for a reconciliation of net debt. Net debt / EBITDA (APM) Net debt divided by operating profit (EBITDA) r12. Net debt to equity ratio (APM) Net debt divided by equity. Net investments (APM) The net of investments in and divestments of tangible and intangible assets, excluding acquisitions and divestment of operations as well as investments in and divestments of assets held for sale. Operating margin (EBIT margin) Operating profit or loss (EBIT) divided by net sales. Operating margin (EBITA margin) Operating profit (EBITA) divided by net sales. Operating margin (EBITDA margin) Operating profit (EBITDA) divided by net sales. ===== SIDA 30 ===== Attendo Interim report Q1, January-March 2023 30 (31) Operating profit (EBIT) (APM) Attendo reports operating profit (EBIT) as a performance measure because it shows the development of operating activities independent of financing. Operating profit (EBIT) refers to profit before financial items and tax. See the Consolidated income statement for a reconciliation of EBIT. Operating profit (EBITA) (APM) Operating profit (EBITA) is used as a performance measure because it shows the development of operating activities without the effect of amortization and impairments of intangible assets from acquired companies and independently of financing. Operating profit (EBITA) refers to profit before amortization of acquisition related intangible assets, financial items and tax. See the Consolidated income statement for a reconciliation of EBITA. Operating profit (EBITDA) (APM) Attendo reports operating profit (EBITDA) as a performance measure because it shows the development of operating activities independent of financing and investments. Operating profit (EBITDA) refers to profit or loss before depreciation, amortization and impairments. See the Consolidated income statement for a reconciliation of EBITDA. Organic growth (APM) Attendo reports organic growth as a performance measure to show underlying net sales development excluding acquisitions/divestments and currency effects. The performance measure is calculated as net sales growth excluding acquisitions / divestments and changes in exchange rates. Profit (Loss) for the period Profit or loss for the period attributable to parent company shareholders and non- controlling interest. Profit margin Profit or loss for the period divided by net sales. r12 “rolling 12 months” The sum of the period’s past 12 months. Return on capital employed (APM) Attendo reports return on capital employed because it shows profits in relation to the capital used in operations. The definition of return on capital employed is operating profit (EBIT) excluding items affecting comparability for the past 12 months divided by average capital employed. See Note C34 Reconciliations of alternative performance measures in the 2022 annual report for a reconciliation of the performance measure on a full year basis. Working capital (APM) Working capital is a key performance measure for optimising cash generation. The performance measure is defined as current assets excluding cash and cash equivalents and current interest-bearing assets minus current non-interest-bearing liabilities and provisions. Assets and liabilities held for sale are not included in working capital. See Note C34 Reconciliations of alternative performance measures in the 2022 annual report for a reconciliation of the performance measure on a full year basis. Explanations of operational measures CoP Care for older people. Occupancy The number of occupied beds divided by the number of available beds. Occupancy is a weighted average in the last month of each reporting period. ===== SIDA 31 ===== Attendo AB (publ) I Vendevägen 85B, 182 91 Danderyd I Tel +46 8 586 251 00 I Fax +46 8 586 250 01 I www.attendo.com INFORMATION TO SHAREHOLDERS AND ANALYSTS Financial Calendar Annual General Meeting 26 April 2023 Interim report January-June 2023 20 July 2023 Interim report January-December 2023 24 October 2023 Year-end report January-December 2023 8 February 2024 Presentation A webcasted presentation will be held on April 26 at 11:00 (CET). You can follow the presentation at the following web link: https://ir.financialhearings.com/attendo-q1-2023 Analysts and investors have the opportunity to dial into the presentation to ask questions. Contact information is obtained b y emailing to: kommunikation@attendo.se The report and other information material will be made available at: https://www.attendo.com/ For further information please contact: Fredrik Lagercrantz CFO Phone +46 8 586 252 00 Andreas Koch Communications and IR Director Phone +46 70 509 77 61 This is information that Attendo AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above on 16 April 2023 at 08.00 CET. Forward-looking information This report contains forward-looking information that reflects Attendo management’s current assessments and expectations on certain future circumstances and possible outcome. This type of forward-looking information involves risks and uncertainties that may significantly impact future outcome. The information is based on certain assumptions, including such attributable to general economic conditions in the company’s markets and demand for the company’s services. Company number : 559026-7885