===== SIDA 1 ===== Attendo Interim report January-September 2023 1 (35) INTERIM REPORT JANUARY-SEPTEMBER 2023 Summary of the third quarter • Net sales amounted to SEK 4,488m (3,679). Total growth amounted to 22.0 percent, of which organic growth was 14.6 percent. • Lease adjusted operating profit (EBITA)1 was SEK 346m (171), corresponding to a margin of 7.7 percent (4.6). • Operating profit (EBITA) amounted to SEK 534m (295), corresponding to an operating margin of 11.9 percent (8.0). In relation to the comparison quarter, IFRS16- related effects of a non-recurring nature had a positive impact of SEK 45 million on the result. • Profit for the period amounted to SEK 230m (95). Diluted earnings per share were SEK 1.43 (0.59). Adjusted earnings per share after dilution amounted to SEK 1.45 (0.80). • Free cash flow amounted to SEK 197m (-273). • The number of beds in Attendo's homes at the end of the period was 20,863 (21,082). The occupancy rate in homes was 86 percent (85). Summary of the period January - September • Net sales amounted to SEK 12,865m (10,707). Total growth amounted to 20.2 percent, of which organic growth was 12.5 percent. • Lease adjusted EBITA1 was SEK 609m (191), corresponding to a lease adjusted operating margin of 4.7 percent (1.8). • Operating profit (EBITA) amounted to SEK 1,058m (543), corresponding to an operating margin of 8.2 percent (5.1). In relation to the comparison period, IFRS16-related effects of a non-recurring nature had a positive impact of SEK 51 million on the result. • The profit for the period amounted to SEK 318m (0). Diluted earnings per share were SEK 1.97 (0.00). Adjusted earnings per share after dilution were SEK 2.48 (0.74). • Free cash flow amounted to SEK 320m (-82). Group key figures 1) See also definitions of key data and alternative performance measures on pages 33-34. 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% 2023 2022 Δ% 2022 Net sales 4,488 3,679 22% 12,865 10,707 20% 14,496 Lease adjusted operating profit (EBITA) ¹ 346 171 102% 609 191 219% 199 Lease adjusted operating margin (EBITA)¹, % 7.7 4.6 - 4.7 1.8 - 1.4 Operating profit (EBITA)¹ 534 295 81% 1,058 543 95% 674 Operating margin (EBITA)¹, % 11.9 8.0 - 8.2 5.1 - 4.6 Profit for the period 230 95 142% 318 0 - -44 Earning per share diluted, SEK 1.43 0.59 142% 1.97 0.00 - -0.28 Adjusted earnings per share diluted¹ʼ ², SEK 1.45 0.80 82% 2.48 0.74 234% 0.68 Free cash flow 197 -273 - 320 -82 - 24 Q3 Jan-Sep Q3 ===== SIDA 2 ===== Attendo Interim report January-September 2023 2 (35) CEO’s statement We continue to strengthen operations and improve performance Ahead of 2023, we set an ambitious plan to improve operational performance, continue to increase occupancy, while improving our contractual conditions. The result and cash flow in the third quarter show the strength of our plan, with growth of 22 percent and a doubling of earnings. It is pleasing to see that we can once again report a positive occupancy development in Finland, where we have previously been limited due to imbalances in the labour market. In Scandinavia, we see a stabilisation in relation to the previous quarter's development and we can look ahead to an improvement in earnings in 2024. We see a continued positive development on quality parameters and employee engagement while we continue to create conditions for organic growth. During the quarter, we started construction of new homes in both Sweden and Finland. Overall, we expect to reach our financial target of adjusted earnings per share of 4 SEK in 2024. Group: High growth and stronger results The Group's sales amounted to SEK 4,488 million, which corresponds to an increase of 22 percent in total and 15 percent measured in local currency. The growth is driven by improved conditions and more occupied beds. The lease adjusted operating profit (EBITA) for Q3 2023 increased by SEK 175 million, compared to last year, to SEK 346 million, corresponding to a margin of 7.7 percent (4.6). Finland: Continued positive trend Sales in Attendo Finland increased by 24 percent in the quarter in local currency. Profit has strengthened significantly, driven by improvements in the care for older people operations. The main factors behind the improvement are new terms and conditions, operational improvements and more occupied beds. The development during the quarter shows that, despite a strained labour market, we have succeeded well in both retaining and growing our fantastic group of employees to be able to welcome more and more new people in need of care, which I see as a sign of strength. For the coming year, we expect to be able to compensate for cost increases with price adjustments. We have currently ongoing negotiations on conditions in social psychiatry and disabled care. With a gradual improvement in occupancy and conditions that better match the new staffing requirements, we look forward to returning to long-term sustainable profitability. A stable financial situation is crucial for us to be able to invest in new nursing homes, which in turn is necessary to meet future needs, for the benefit of both customers and welfare regions. Scandinavia: Stabilisation according to plan Sales in our Scandinavian care business increased by about 4 percent compared with the corresponding quarter last year. The reported result is down compared with the previous year. However, we see an underlying improvement in earnings in own nursing homes and own group homes (disabled care). At the same time, we still report losses in Denmark and lower results in home care, Martin Tivéus, CEO “The development in Finland shows that it is possible to turn an industry around, both in terms of quality and financially, after a long period of difficult conditions.” ===== SIDA 3 ===== Attendo Interim report January-September 2023 3 (35) but we see an improvement in these areas in relation to the previous quarter and expect to continue to improve gradually in the coming quarters. For 2024, we expect to be able to compensate for cost increases through price adjustments for the business area as a whole. I am very pleased that during the quarter we recruited Patrik Högberg as the new business area manager for Attendo Scandinavia. Patrik has solid leadership experience from the private and public sector and has all the prerequisites to continue developing the operations in Sweden and Denmark. Strengthened organisation in nursing homes As part of developing Attendo's operational model - Attendo Way - we are introducing a new, strengthened organisation in nursing homes in both of our business areas. An important part of this work is that we are increasing leadership density by introducing team leaders in nursing homes. The aim is to strengthen local managers and at the same time establish a more present leadership in operations, better communication and ultimately improved quality of care. Focus going forward I see good opportunities to continue developing Attendo going forward, to create value for customers, relatives, payors, shareholders and society as a whole. The development in Finland shows that it is possible to turn an industry around, both in terms of quality and financially, after a long period of difficult conditions. In Scandinavia, we have begun to see a stabilisation after a challenging period where the industry suffered from under- compensation for cost inflation and wage increases. We are well on track to achieve our financial target of adjusted earnings per share of 4 SEK. As we previously announced, the timing of the fulfilment has been delayed due to inflation-related costs and higher interest costs. Our current assessment is that we will reach the target in 2024. A stronger financial position also puts us in a good position to invest in the future of care. Martin Tivéus, CEO and president ===== SIDA 4 ===== Attendo Interim report January-September 2023 4 (35) Group July - September 2023 Net sales and operating profit Net sales increased by 22.0 percent to SEK 4,488m (3,679) during the quarter. Adjusted for currency effects, net sales increased by 14.6 percent, corresponding to organic growth. Organic growth is mainly explained by increased net sales in Attendo Finland, primarily in nursing homes. Lease adjusted operating profit (EBITA) totalled SEK 346m (171) and the margin was 7.7 percent (4.6). Profit increased significantly in Attendo Finland and decreased in Attendo Scandinavia. IFRS16-related effects on operating profit (EBITA) amounted to SEK 188m (124). In relation to the comparison quarter, IFRS16-related effects were positively affected by non-recurring items of about SEK 45m, mainly due to reversed previous impairments. Operating profit (EBITA) amounted to SEK 534m (295) and the operating margin to 11.9 percent (8.0). Currency effects amounted to SEK 35m. Operating profit (EBIT) amounted to SEK 519m (281), corresponding to an operating margin (EBIT) of 11.6 percent (7.6). The change is explained by the same factors as described above. The total number of beds in operation in all homes at the end of the quarter was 20,863 (21,082). The lower number of beds is explained by ended outsourced homes in Attendo Scandinavia. Occupancy in all homes was 86 percent (85) at the end of the quarter. The number of beds in own operations under construction was 352, distributed among 7 homes. Net sales per business area, Q3 2023 (SEKm) Lease adjusted operating profit (EBITA) per business area, Q3 2023 (SEKm) Lease adjusted operating profit (EBITA) per quarter (SEKm) Adjusted earnings per share, r12 (SEK) 1,670 2,009 1,737 2,751 Scandinavia Finland Q3 2022 Q3 2023 150 37 116 249 Scandinavia Finland Q3 2022 Q3 2023 65 8 31 -11 171 116 147 346 Q4 Q1 Q2 Q3 2021 2022 2023 0.96 0.68 1.03 1.76 2.41 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 ===== SIDA 5 ===== Attendo Interim report January-September 2023 5 (35) Net financial items Net financial items amounted to SEK -223m (-160) in the period, of which net interest corresponded to SEK -32m (-12). Interest expenses for lease liabilities for properties in accordance with IFRS 16 amounted to SEK -178m (-150). Tax Tax for the period amounted to SEK -66m (-26), corresponding to a tax rate of 22.3 percent (21.5). Profit and earnings per share for the period Profit for the period totalled SEK 230m (95), corresponding to earnings per share before and after dilution for the parent company's shareholders of SEK 1.43 (0.59). Adjusted earnings per share after dilution totalled SEK 1.45 (0.80). January – September 2023 Net sales and operating profit Net sales increased by 20.2 percent to SEK 12,865m (10,707) during the period. Adjusted for currency effects, net sales increased by 14.1 percent, of which organic growth was 12.5 percent and net change due to acquisitions and divestments was 1.6 percent. Organic growth is primarily explained by increased net sales in Attendo Finland, mainly in nursing homes. Lease adjusted operating profit (EBITA) amounted to SEK 609m (191) and the margin was 4.7 percent (1.8). IFRS16-related effects on operating profit (EBITA) amounted to SEK 449m (352). In relation to the comparison quarter, IFRS16-related effects were positively affected by non-recurring items of approximately SEK 51m, mainly as a result of reversed previous impairments. Operating profit (EBITA) amounted to SEK 1,058m (543) and the operating margin to 8.2 percent (5.1). Currency effects amounted to SEK 60m. Operating profit (EBIT) amounted to SEK 1,013m (499), corresponding to an operating margin (EBIT) of 7.9 percent (4.7). The change is explained by the same factors as described above. Net financial items Net financial items amounted to SEK -603m (-488) in the period, of which net interest corresponded to SEK -95m (-29). Interest expenses for lease liabilities for properties in accordance with IFRS 16 amounted to SEK -506m (-455). Income tax Tax for the period amounted to SEK -92m (-11), corresponding to a tax rate of 22.5 percent (97.4). The comparative period's tax rate was affected by negative earnings in Finland. Profit and earnings per share for the period Profit for the period amounted to SEK 318m (0), corresponding to earnings per share for the Parent Company's shareholders before dilution of SEK 1.98 (0.00) and after dilution of SEK 1.97 (0.00). Adjusted earnings per share after dilution amounted to SEK 2.48 (0.74). i ===== SIDA 6 ===== Attendo Interim report January-September 2023 6 (35) Business area: ATTENDO SCANDINAVIA More customers in own operations and gradual stabilisation Net sales by service offering, Q3 2023 July – September 2023 Net sales in Attendo Scandinavia amounted to SEK 1,737m (1,670), an increase of 4.0 percent including currency effects and 3.7 percent excluding currency effects. The increase is explained by higher net sales in nursing homes. Net sales in home care and outsourced nursing homes decreased mainly as a result of ended operations. Occupancy in homes increased in relation to the comparison quarter and to the second quarter of 2023. The total number of sold beds increased slightly in relation to the comparison quarter. Sold beds in own operations increased, while sold beds in outsourcing decreased. Lease adjusted EBITA amounted to SEK 116m (150), corresponding to a margin of 6.7 percent (9.0). The lower profits are explained by the fact that price increases in 2023 do not fully compensate for salary increases and the historically high cost inflation, as well as lower profits in home care and losses in the Danish operations. The profit trend in home care and in Denmark stabilised during the quarter. Profits improved in own nursing homes and own disabled care homes. IFRS16-related effects on operating profit amounted to SEK 48m (54). The comparative quarter was positively affected by non-recurring effects of approximately SEK 8m. Operating profit (EBITA) amounted to SEK 164m (204), corresponding to an operating margin (EBITA) of 9.4 percent (12.2). Beds and contracts During the quarter, Attendo opened 12 beds in own operations and started building a nursing home with 62 beds. The number of beds under construction in own operations totalled 122 at the end of the quarter. A couple of outsourced operations ended during the quarter. Estimated annual sales for outsourcing contracts won but not yet started and outsourcing contracts lost but not yet ended are estimated to SEK -320m net. Contracts with estimated annual net sales of SEK 200m will be ended in the fourth quarter. Jan-Dec SEKm 2023 2022 2023 2022 2022 Net sales 1,737 1,670 5,130 4,908 6,599 Lease adjusted EBITA 116 150 213 299 380 Lease adjusted EBITA margin, % 6.7 9.0 4.2 6.1 5.8 Operating profit (EBITA) 164 204 359 448 577 Operating margin (EBITA), % 9.4 12.2 7.0 9.1 8.7 Q3 Jan-Sep 61% 17% 15% 5% 2% Nursing homes (CoP) Home care Disabled care Individual and family care Social psychiatry ===== SIDA 7 ===== Attendo Interim report January-September 2023 7 (35) Business area: ATTENDO SCANDINAVIA Beds and customers January – September 2023 Net sales in Attendo Scandinavia totalled SEK 5,130m (4,908), an increase of 4.5 percent including currency effects and 4.3 percent excluding currency effects. The increase is mainly explained by higher net sales in nursing homes, which is primarily a result of more sold beds. Net sales in home care and outsourced nursing homes decreased. The number of beds sold and occupancy in homes increased in relation to the comparison period. Lease adjusted EBITA amounted to SEK 213m (299), corresponding to a margin of 4.2 percent (6.1). Profits decreased due to price increases in 2023 not compensating for the historically high cost inflation, and lower profits in home care and Denmark. Profits in own nursing homes increased as a result of more sold beds. IFRS16-related effects on operating profit totalled SEK 146m (149). Operating profit (EBITA) amounted to SEK 359m (448), corresponding to an operating margin (EBITA) of 7.0 percent (9.1). Attendo Scandinavia Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Number of beds in homes in operation¹ 7,070 6,986 6,961 6,864 6,834 Occupancy in homes¹, % 85 85 86 87 87 Number of opened beds² - - 58 - 12 Number of beds, construction start in the quarter² - - - - 62 Number of beds under construction² 141 141 83 78 122 Number of home care customers 8,235 8,230 8,180 7,869 8,028 1) All homes. 2) Own homes. ===== SIDA 8 ===== Attendo Interim report January-September 2023 8 (35) Business area: ATTENDO FINLAND Continued positive trend Net sales by service offering, Q3 2023 July – September 2023 Net sales in Attendo Finland amounted to SEK 2,751m (2,009), corresponding to growth of 36.9 percent. Adjusted for currency effects, net sales increased by 23.7 percent, corresponding to organic growth. The growth is explained by increased net sales mainly in nursing homes due to price increases. Total price increases amount to about 20 percent, which partly compensates for historical cost increases. Since the comparative quarter, Attendo has closed a number of homes due to staff shortages or occupancy problems. Occupancy was higher than in the comparison quarter and in the second quarter of 2023. Lease adjusted EBITA amounted to SEK 249m (37) and the margin was 9.1 percent (1.8). The increase in profits is primarily explained by higher price increases than cost increases in nursing homes. IFRS16-related effects on operating profit (EBITA) amounted to SEK 140m (69). The increase is explained by positive non-recurring effects of SEK 53m in the third quarter of 2023, mainly due to reversed previous impairments, and currency effects. Operating profit (EBITA) amounted to SEK 389m (106) and the operating margin (EBITA) amounted to 14.1 percent (5.3). Currency effects amounted to SEK 35m. Beds and contracts During the quarter, construction of two homes with a total of 56 beds started. The number of beds under construction in own operations at the end of the quarter totalled 230 beds. During the quarter, Attendo won an outsourcing contract with estimated annual sales of about SEK 90m, which has not yet started. x x Jan-Dec SEKm 2023 2022 2023 2022 2022 Net sales 2,751 2,009 7,735 5,799 7,897 Lease adjusted EBITA 249 37 453 -56 -111 Lease adjusted EBITA margin, % 9.1 1.8 5.9 -1.0 -1.4 Operating profit (EBITA) 389 106 757 148 167 Operating margin (EBITA), % 14.1 5.3 9.8 2.5 2.1 Q3 Jan-Sep 71% 10% 9% 10% Nursing homes (CoP) Social psychiatry Disabled care Other (Rehab, food svcs., etc.) ===== SIDA 9 ===== Attendo Interim report January-September 2023 9 (35) Business area: ATTENDO FINLAND Beds and customers January – September 2023 Net sales in Attendo Finland amounted to SEK 7,735m (5,799), corresponding to a growth of 33.4 percent. Adjusted for currency effects, net sales increased by 22.4 percent. The growth is explained by increased net sales mainly in nursing homes due to price increases, as well as previous acquisitions. Total price increases amount to approximately 17 percent. Since the comparison period, Attendo has discontinued a number of homes due to staff shortages or occupancy problems. Occupancy in nursing homes increased in relation to the comparison period. Lease adjusted EBITA amounted to SEK 453m (-56) and the margin was 5.9 percent (-1.0). The increase is primarily explained by higher price increases than cost increases in nursing homes and a positive contribution from acquisitions. Price increases in disabled care and social psychiatry do not fully compensate for the high cost increases. IFRS16-related effects on operating profit (EBITA) amounted to SEK 304m (204). The increase is mainly explained by positive non-recurring items in Q3 2023 and currency effects. Operating profit (EBITA) amounted to SEK 757m (148) and the operating margin (EBITA) amounted to 9.8 percent (2.5). Currency effects amounted to SEK 62m. Attendo Finland Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Number of beds in homes in operation¹ 14,012 13,946 13,962 14,006 14,029 Occupancy in homes¹, % 85 85 86 85 86 Number of opened beds² 130 - - 86 - Number of beds, construction start in the quarter² - 101 58 15 56 Number of beds under construction² 83 184 242 174 230 Number of home care customers 590 586 493 479 457 1) All homes. 2) Own homes. ===== SIDA 10 ===== Attendo Interim report January-September 2023 10 (35) Cash flow July - September 2023 Free cash flow was SEK 197m (-273) during the quarter, whereof changes in working capital amounted to SEK -168m (-445). Cash flow from operations was SEK 601m (31). Cash used for net investments in non-current assets was SEK -35m (-30). Business acquisitions reduced cash flow by SEK -5m (0). Cash flow from investing activities thus amounted to SEK -40m (-30). Cash flow from financing activities was SEK -419m (-124). Net change of bank loans amounted to SEK -50m (150). Total cash flow amounted to SEK 142m (-123). January – September 2023 Free cash flow was SEK 320m (-82) for the period, including changes in working capital of SEK -272m (-179). Cash flow from operating activities was SEK 1,454m (886). Cash used for net investments in non-current assets was SEK -101m (-142). Business acquisitions reduced cash flow by SEK -9m (-204). Cash flow from investing activities thus amounted to SEK -110m (-346). Cash flow from financing activities was SEK -1,113m (-774). During the period the net change in bank loans was SEK -102m (50). Total cash flow amounted to SEK 211m (-234). Financial position Equity attributable to shareholders in the parent company amounted to SEK 5,362m (5,028) as of 30 September 2023, representing diluted equity per share attributable to shareholders in the parent of SEK 33.31 (31.24). Net debt amounted to SEK 14.599m (14,309). Lease adjusted net debt, excluding lease liability real estate, amounted to SEK 1,580m (1,943). Interest-bearing liabilities amounted to SEK 15,340m (14,602) on 30 September 2023. Cash and cash equivalents as of 30 September 2023 amounted to SEK 726m (293) and Attendo had SEK 1,650m (1,650) in unutilised credit facilities. Net debt/EBITDA was 5.1 (6.6). Lease adjusted net debt/lease adjusted EBITDA was 1.8 (4.1). 31 Dec SEKm 2023 2022 2022 Interest-bearing liabilities 15,340 14,602 14,805 Provision for post- employment benefits -15 0 0 Cash and cash equivalents -726 -293 -507 Net debt 14,599 14,309 14,298 Lease liability real estate -13,019 -12,366 -12,440 Lease adjusted net debt 1,580 1,943 1,858 30 Sep 31 Dec SEKm 2023 2022 2022 Net debt / EBITDA 5.1 6.6 6.6 Lease adjusted net debt / Lease adjusted EBITDA 1.8 4.1 4.4 30 Sep ===== SIDA 11 ===== Attendo Interim report, January-September 2023 11 (35) Sustainability: SUSTAINABLE CARE Sustainability at Attendo Attendo works systematically and purposefully with sustainability. Every quarter, we report the latest key figures for our focus areas in order to report the results of our work. We also highlight important activities and progress in the business. Empowered employees: Strengthened organization for increased participation Attendo aims to be the leading employer for employees who want to make a difference in care. One of several key factors for employee satisfaction is proximity to the local manager and access to support in daily work. During the year, we are introducing a new organization with group managers at nursing homes in both business areas. The aim is to strengthen the local organization and improve support to the local unit managers. For employees, this means a more present leadership, greater participation and better communication. The group managers are given employer responsibility at section level where they are part of the operation. At the same time, they become new members of the local management team together with the local unit manager and support functions. By the end of the quarter, the new organization has been implemented in all major nursing homes in Finland and in about one third of Attendo’s own nursing homes in Scandinavia. Quality of life: Increased focus on relatives’ satisfaction Relatives' participation in and experience of care is central to Attendo's efforts to increase well- being and quality of life for customers. We regularly measure and monitor relatives' propensity to recommend Attendo as a care provider. The latest available result is a relatives satisfaction score (rNPS) of 35 (scale from +100 to -100) for the group as a whole. The recommendation rate in Attendo Finland, the business area with the longest data history, has increased from 15 in 2019 to 44 in the latest survey (2023), with a continuously increasing level of engagement in the surveys. The surveys show that the key factors that influence relatives' willingness to recommend Attendo the most, are safety with the care services, the employees' availability and treatment, and the opportunity for dialog and transparency. Based on these insights, we conduct active work with a focus on education, leadership training and communication support with a special focus on relatives. The work is continuously developed based on the latest results. 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, January-September 2023 12 (35) Sustainability: SUSTAINABLE CARE Key sustainability figures for Q3 2023 Attendo's ambition is to continuously develop and report outcome measurements within sustainability that put the customer at the center and contribute to standardisation within the sector. This is a long-term work and the measurements we work with will be continuously developed. Focus area Key figures Outcome Comments Quality of life Customer satisfaction, cNPS (-100 to +100) 40 (40) Percentage of customers that answered 9 or 10 (0-10) when asked to recommend Attendo minus the percentage that answered 6 or below. Based on the most recently completed measurements in each business area Relatives satisfaction, rNPS (-100 to +100) 35 (35) Percentage of relatives of customers that answered 9 or 10 (0-10) when asked to recommend Attendo minus the percentage that answered 6 or below. Based on the most recently completed measurements in each business area. AQ quality index (0-100, Scandinavia only) 89 (89) The Attendo Quality Thermometer (AQ23). Based on the most recently completed measurements. This measure is intended to be replaced with ASCOT (quality of life) outcomes as soon as possible. RAI index (0-10, Finland only) 5.6 (5.5) Measured quality of life based on weighted average of reported RAI indicators in Attendo Finland. Based on the most recently completed measurements. Value-adding care solutions Number of customers who receive care from Attendo 27,300 (27,200) Refers to beds sold in homes, daily activities, rehabilitation, family care home placements and home care services customers in by the end of Q2 2023. Beds opened in own operations (capacity made available), r12 156 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 292 Refers to beds in residential homes in own operations for which construction began in the past twelve months. Empowered employees Employee satisfaction, eNPS (-100 to +100) 13 (11) Percentage of employees that answered 9 or 10 (0-10) when asked to recommend Attendo minus the percentage that answered 6 or below. Based on the most recently completed measurements in each business area. Short-term sick leave, % 6.1% (5.8%) Percentage short-term sick in the quarter. Environment in mind Greenhouse gas emissions, g/SEK 1.5 Emissions of greenhouse gases (GHG), 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. Quality audits and deviations ===== SIDA 13 ===== Attendo Interim report, January-September 2023 13 (35) Sustainability: SUSTAINABLE CARE 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 segments and markets. Attendo reports both cases of a serious nature (Sweden) and the number of official cases in progress (Finland). Scandinavia A total of 2 cases were reported in Q3 to IVO in Sweden according to Lex Sarah or Lex Maria. Finland A sum of 3 cases were opened by AVI in Finland during Q3 and 3 cases were closed. The total number of cases open was about 25 at the end of the quarter. ===== SIDA 14 ===== Attendo Interim report, January-September 2023 14 (35) Other information Acquisitions There were no acquisitions during the quarter. New management in Attendo Scandinavia Patrik Högberg has been appointed Business Area Manager for Attendo Scandinavia and new member of Attendo's Executive Management. Patrik comes from the role as CEO of the cash-in-transit company Loomis' operations in the UK and has previously held several senior positions in the private and public sectors. Patrik will take up the position in the beginning of November 2023, at which time he will also become a member of Attendo's Executive Management. 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 30 September 2023 was thus 160,932,895. Number of employees The average number of employees in Q3 was 22,236 (21,640). 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–September amounted to SEK 13m (12), and were entirely related to services provided to subsidiaries. The loss for the period after net financial items was SEK -24m (-23). At the end of the period, cash and cash equivalents amounted to SEK 0 (0), shares in subsidiaries to SEK 6,494m (6,494), and non-restricted equity to SEK 6,748m (6,710). 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 There were no significant events after the reporting date. ===== SIDA 15 ===== Attendo Interim report, January-September 2023 15 (35) 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. Attendo takes a systematic approach to risk assessment and management as a central component of the strategic process, where risks in relation to the company’s capacity to meet its strategic and financial targets are assessed in a regular and structured manner. The risks that Attendo is exposed to can be divided into external risks – risks and uncertainty factors regarding the conditions for private companies to conduct care activities and which Attendo can only partially influence, such as political decisions, regulation and access to public funds, operational risks – factors and events that are directly linked to Attendo's operational activities, such as occupancy, pricing and access to competent employees as well as financial risks – risks relating to access to capital, currency, interest rates and liquidity. The main risks that could affect the company's ability to achieve its financial and strategic objectives in the short to medium term are a shortage of qualified staff, strained public finances having a negative impact on local decisions on care, and a continued high inflation rate and high interest rate environment. 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). ===== SIDA 16 ===== Attendo Interim report, January-September 2023 16 (35) 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. The interim report has not been reviewed by the company’s auditors. Outlook Attendo does not publish forecasts. Danderyd, October 24, 2023 Martin Tivéus President and CEO ===== SIDA 17 ===== Attendo Interim report, January-September 2023 17 (35) Auditor’s limited review report (translation of the Swedish original) To the Board of Attendo AB. reg. no. 559026-7885 Introduction We have reviewed the condensed interim financial information (interim report) of Attendo AB as of 30 September 2022 and the nine-month period then ended. The board of directors and the CEO are responsible for the preparation and presentation of the interim financial information in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Scope of Review We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410, Review of Interim Report Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing, ISA, and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an aud it. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act, regarding the Group, and with the Swedish Annual Accounts Act, regarding the Parent Company. Stockholm, 24 October 2023 PricewaterhouseCoopers AB Erik Bergh Authorized public accountant ===== SIDA 18 ===== Attendo Interim report, January-September 2023 18 (35) Financial reports Consolidated Income Statement Jan-Dec SEKm 2023 2022 2023 2022 2022 Net sales 4,488 3,679 12,865 10,707 14,496 Other operating income 6 34 30 46 61 Total revenue 4,494 3,713 12,895 10,753 14,557 Personnel costs -2,829 -2,427 -8,416 -7,298 -9,929 Other external costs -702 -613 -2,131 -1,794 -2,454 Operating profit before amortization and depreciations (EBITDA) 963 673 2,348 1,661 2,174 Amortization and depreciation of tangible and intangible assets -429 -378 -1,290 -1,118 -1,500 Operating profit after depreciation (EBITA) 534 295 1,058 543 674 Operating margin (EBITA), % 11.9 8.0 8.2 5.1 4.6 Amortization and write-down of acquisition related intangible assets -15 -14 -45 -44 -58 Operating profit (EBIT) 519 281 1,013 499 616 Operating margin (EBIT), % 11.6 7.6 7.9 4.7 4.2 Net financial items -223 -160 -603 -488 -658 Profit before tax 296 121 410 11 -42 Income tax -66 -26 -92 -11 -2 Profit for the period 230 95 318 0 -44 Profit margin, % 5.1 2.6 2.5 0.0 -0.3 Profit for the period attributable to: Parent company shareholders 230 95 318 -1 -45 Non-controlling interest - - - 1 1 Basic earnings per share, SEK 1.43 0.59 1.98 0.00 -0.28 Diluted earnings per share, SEK 1.43 0.59 1.97 0.00 -0.28 Average number of shares outstanding, basic, thousands 160,933 160,933 160,933 160,923 160,925 Average number of shares outstanding, diluted, thousands 160,955 160,933 160,956 160,933 160,938 Q3 Jan-Sep ===== SIDA 19 ===== Attendo Interim report, January-September 2023 19 (35) Consolidated Statement of Comprehensive Income Jan-Dec SEKm 2023 2022 2023 2022 2022 Profit for the period 230 95 318 0 -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 0 0 11 1 1 Items that may be reclassified to profit or loss Exchange rate differences on translating foreign operations attributable to the parent company shareholders -25 22 28 67 85 Other comprehensive income for the period -25 22 39 68 86 Total comprehensive income for the period 205 117 357 68 42 Total comprehensive income attributable to: Parent company shareholders 205 117 357 67 41 Non-controlling interest - - - 1 1 Q3 Jan-Sep ===== SIDA 20 ===== Attendo Interim report, January-September 2023 20 (35) Consolidated Balance Sheet SEKm 30 Sep 2023 30 Sep 2022 31 Dec 2022 ASSETS Non-current assets Goodwill 7,288 7,156 7,204 Other intangible assets 462 506 504 Equipment 619 645 642 Right-of-use assets 11,614 11,085 11,118 Financial assets 563 452 512 Total non-current assets 20,546 19,844 19,980 Current assets Trade receivables 1,674 1,364 1,400 Other current assets 592 502 437 Cash and cash equivalents 726 293 507 2,992 2,159 2,344 Assets held for sale 1 6 1 Total current assets 2,993 2,165 2,345 Total assets 23,539 22,009 22,325 EQUITY and LIABILITIES Equity Equity attributable to the parent company shareholders 5,362 5,028 5,001 Non-controlling interest - - - Total equity 5,362 5,028 5,001 Non-current liabilities Liabilities to credit institutions 2,281 2,208 2,330 Long-term lease liabilities¹ 11,660 11,193 11,246 Provisions for post-employment benefits 0 0 0 Long term provisions 108 89 88 Other non-current liabilities 171 163 165 Total non-current liabilities 14,219 13,653 13,829 Current liabilities Liabilities to credit institutions 0 0 - Short-term lease liabilities² 1,399 1,201 1,229 Trade payables 461 446 462 Short-term provisions 39 54 49 Other current liabilities 2,059 1,623 1,755 3,958 3,324 3,495 Liabilities held for sale 0 4 0 Total current liabilities 3,958 3,328 3,495 Total equity and liabilities 23,539 22,009 22,325 1) Long-term lease liabilities include car leases amounting to SEK 15 (7m) and full year 2022 15. 2) Short-term lease liabilities include car leases amounting to SEK 25m (21m) and full year 2022 20. ===== SIDA 21 ===== Attendo Interim report, January-September 2023 21 (35) Consolidated Cash Flow Statement Consolidated Statement of Changes in Equity Jan-Dec Operational cash flow (alternative performance measure), SEKm 2023 2022 2023 2022 2022 Operating profit (EBITA)¹ 534 295 1,058 543 674 Depreciation and amortization of tangible and intangible assets 429 378 1,290 1,118 1,500 Changes in working capital -168 -445 -272 -179 -70 Paid income tax -18 -17 -55 -61 -60 Other non-cash items 20 -22 20 -51 -51 Cash flow after changes in working capital 797 189 2,041 1,370 1,993 Investments on tangible and intangible assets -36 -37 -116 -154 -204 Divestments of tangible and intangible assets 1 7 15 12 17 Operating cash flow 762 159 1,940 1,228 1,806 Interest received/paid -18 -8 -81 -29 -55 Interest expense for lease liabilities of real estate -178 -150 -506 -455 -605 Repayment of lease liabilities -369 -274 -1,033 -826 -1,122 Free cash flow 197 -273 320 -82 24 Net change in assets and liabilities held for sale 0 0 0 0 1 Acquisition of operations -5 - -9 -204 -204 Divestment of subsidiaries - - - - - Warrants - - 2 2 2 Repayment of loans -50 - -214 -100 -100 New borrowings 0 150 112 150 250 Total cash flow 142 -123 211 -234 -27 Cash and cash equivalents at the beginning of the period 591 412 507 513 513 Effect of exchange rate changes on cash -7 4 8 14 21 Cash and cash equivalents at the end of the period 726 293 726 293 507 Jan-Dec Cash flow according to IFRS, SEKm 2023 2022 2023 2022 2022 Cash flow from operations 601 31 1,454 886 1,333 Cash flow from investing activities -40 -30 -110 -346 -390 Cash flow from financing activities -419 -124 -1,133 -774 -970 Total cash flow 142 -123 211 -234 -27 Q3 Jan-Sep Q3 Jan-Sep SEKm 30 Sep 2023 30 Sep 2022 31 Dec 2022 Opening balance 5,001 4,957 4,957 Total comprehensive income attributable to: The parent company shareholders 357 67 41 Non-controlling interest - 1 1 Transactions with owners Warrants 2 2 2 Share-savings plan 2 1 0 Total transactions with owners 4 3 2 Transactions with non-controlling interest - 0 Closing balance 5,362 5,028 5,001 Equity attributable to: Parent company shareholders 5,362 5,028 5,001 Non-controlling interests - - - ===== SIDA 22 ===== Attendo Interim report, January-September 2023 22 (35) Segment in Summary Net Financial Items SEKm Q3 2023 Q3 2022 Helår 2022 Q3 2023 Q3 2022 Helår 2022 Q3 2023 Q3 2022 Helår 2022 Q3 2023 Q3 2022 Helår 2022 Net sales 1,737 1,670 6,599 2,751 2,009 7,897 - - - 4,488 3,679 14,496 - Net sales, own operations 1,337 1,300 5,114 2,680 1,998 7,852 - - - 4,017 3,298 12,966 - Net sales, outsourcing 400 370 1,484 71 11 45 - - - 471 381 1,529 Lease adjusted EBITA 116 150 380 249 37 -111 -19 -15 -70 346 171 199 Lease adjusted operating margin (EBITA), % 6.7 9.0 5.8 9.1 1.8 -1.4 - - - 7.7 4.6 1.4 Operating profit (EBITA) 164 204 577 389 106 167 -19 -15 -70 534 295 674 Operating margin (EBITA), % 9.4 12.2 8.7 14.1 5.3 2.1 - - - 11.9 8.0 4.6 Other and eliminations Group Scandinavia Finland SEKm Jan- Sep 2023 Jan- Sep 2022 Full- year 2022 Jan- Sep 2023 Jan- Sep 2022 Full- year 2022 Jan- Sep 2023 Jan- Sep 2022 Full- year 2022 Jan- Sep 2023 Jan- Sep 2022 Full- year 2022 Net sales 5,130 4,908 6,599 7,735 5,799 7,897 - - - 12,865 10,707 14,496 - Net sales, own operations 3,916 3,789 5,114 7,537 5,765 7,852 - - - 11,453 9,554 12,966 - Net sales, outsourcing 1,214 1,119 1,484 198 34 45 - - - 1,412 1,153 1,529 Lease adjusted EBITA 213 299 380 453 -56 -111 -57 -53 -70 609 191 199 Lease adjusted operating margin (EBITA), % 4.2 6.1 5.8 5.9 -1.0 -1.4 - - - 4.7 1.8 1.4 Operating profit (EBITA) 359 448 577 757 148 167 -57 -53 -70 1,058 543 674 Operating margin (EBITA), % 7.0 9.1 8.7 9.8 2.5 2.1 - - - 8.2 5.1 4.6 Scandinavia Finland Group Other and eliminations Jan-Dec SEKm 2023 2022 2023 2022 2022 Net interest expense (excluding lease liabilities for real estate) -32 -12 -95 -29 -49 Interest expense, lease liabilities for real estate -178 -150 -506 -455 -605 Other -13 2 -2 -4 -4 Net financial items -223 -160 -603 -488 -658 Q3 Jan-Sep ===== SIDA 23 ===== Attendo Interim report, January-September 2023 23 (35) 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 2022, note C25. 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 2023 2022 2022 Investments Investments in intangible assets 1 - 8 26 36 Investments in tangible assets 35 37 108 128 168 Divestments of tangible and intangible assets -1 -7 -15 -12 -17 Total net investments 35 30 101 142 187 Intangible assets acquired through business combination Goodwill 0 - 1 124 124 Customer relations 0 - 4 34 34 Other - - - - - Total intangible assets acquired through business combination 0 - 5 158 158 Q3 Jan-Sep SEKm 30 Sep 2023 30 Sep 2022 31 Dec 2022 ASSETS Financial assets measured at fair value Trade receivables 1,674 1,364 1,400 Cash and cash equivalents 726 293 507 Total financial assets 2,400 1,657 1,907 LIABILITIES Contingent considerations 60 55 56 Financial liabilities measured at amortised cost Borrowings 2,281 2,208 2,330 Lease liabilities 13,059 12,394 12,475 Trade payables 461 446 462 Total financial liabilities 15,861 15,103 15,323 Financial liabilities at fair value through profit or loss SEKm 30 Sep 2023 30 Sep 2022 31 Dec 2022 Assets pledged as collateral 72 55 64 Contingent liabilities¹ 2,311 2,948 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 24 ===== Attendo Interim report, January-September 2023 24 (35) Adjusted Earnings and Adjusted Earnings per Share Q3 2023 SEKm Reported Acq.¹ IFRS 16² Total adj. Adjusted earnings Net sales 4,488 - - - 4,488 Other operating income 6 - 0 0 6 Operating profit before amortization and depreciation (EBITDA) 963 - -547 -547 416 Amortization and depreciation of tangible and intangible assets -429 - 359 359 -70 Operating profit (EBITA) 534 - -188 -188 346 Amortization and write-down of acquisition related intangible assets -15 15 - 15 - Operating profit (EBIT) 519 15 -188 -173 346 Net financial items -223 - 178 178 -45 Profit before tax (EBT) 296 15 -10 5 301 Income tax -66 -3 2 -1 -67 Profit for the period 230 12 -8 4 234 Profit for the period attributable to: The parent company shareholders 230 12 -8 4 234 Non-controlling interests - - - Average number of shares outstanding, diluted, thousands 160,955 160,955 160,955 160,955 160,955 Earnings per share diluted, SEK 1.43 0.07 -0.05 0.02 1.45 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, January-September 2023 25 (35) Adjusted Earnings and Adjusted Earnings per Share Q3 2022 SEKm Reported Acq.¹ IFRS 16² Total adj. Adjusted earnings Net sales 3,679 - - - 3,679 Other operating income 34 - -19 -19 15 Operating profit before amortization and depreciation (EBITDA) 673 - -445 -445 228 Amortization and depreciation of tangible and intangible assets -378 - 321 321 -57 Operating profit (EBITA) 295 - -124 -124 171 Amortization and write-down of acquisition related intangible assets -14 14 - 14 - Operating profit (EBIT) 281 14 -124 -110 171 Net financial items -160 - 150 150 -10 Profit before tax (EBT) 121 14 26 40 161 Income tax -26 -3 -3 -6 -32 Profit for the period 95 11 23 34 129 Profit for the period attributable to: The parent company shareholders 95 11 23 34 129 Non-controlling interests - - - - - Average number of shares outstanding, diluted, thousands 160,933 160,933 160,933 160,933 160,933 Earnings per share diluted, SEK 0.59 0.08 0.15 0.21 0.80 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 26 ===== Attendo Interim report, January-September 2023 26 (35) Adjusted Earnings and Adjusted Earnings per Share Jan-Sept 2023 SEKm Reported Acq.¹ IFRS 16² Total adj. Adjusted earnings Net sales 12,865 - - - 12,865 Other operating income 30 - -7 -7 23 Operating profit before amortization and depreciation (EBITDA) 2,348 - -1,546 -1,546 802 Amortization and depreciation of tangible and intangible assets -1,290 - 1,097 1,097 -193 Operating profit (EBITA) 1,058 - -449 -449 609 Amortization and write-down of acquisition related intangible assets -45 45 - 45 - Operating profit (EBIT) 1,013 45 -449 -404 609 Net financial items -603 - 506 506 -97 Profit before tax (EBT) 410 45 57 102 512 Income tax -92 -9 -11 -20 -112 Profit for the period 318 36 46 82 400 Profit for the period attributable to: The parent company shareholders 318 36 46 82 400 Non-controlling interests - - - - - Average number of shares outstanding, diluted, thousands 160,956 160,956 160,956 160,956 160,956 Earnings per share diluted, SEK 1.97 0.22 0.29 0.51 2.48 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 27 ===== Attendo Interim report, January-September 2023 27 (35) Adjusted Earnings and Adjusted Earnings per Share Jan-Sept 2022 SEKm Reported Acq.¹ IFRS 16² Total adj. Adjusted earnings Net sales 10,707 - - - 10,707 Other operating income 46 - -19 -19 27 Operating profit before amortization and depreciation (EBITDA) 1,661 - -1,301 -1,301 360 Amortization and depreciation of tangible and intangible assets -1,118 - 949 949 -169 Operating profit (EBITA) 543 - -352 -352 191 Amortization and write-down of acquisition related intangible assets -44 44 - 44 - Operating profit (EBIT) 499 44 -352 -308 191 Net financial items -488 - 455 455 -33 Profit before tax (EBT) 11 44 103 147 158 Income tax -11 -9 -18 -27 -38 Profit for the period 0 35 85 120 120 Profit for the period attributable to: The parent company shareholders -1 35 85 120 119 Non-controlling interests 1 - - - 1 Average number of shares outstanding, diluted, thousands 160,933 160,933 160,933 160,933 160,933 Earnings per share diluted, SEK 0.00 0.22 0.53 0.74 0.74 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 28 ===== Attendo Interim report, January-September 2023 28 (35) 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 29 ===== Attendo Interim report, January-September 2023 29 (35) Key Data Jan-Dec 2023 2022 2023 2022 2022 Organic growth % 14.6 6.8 12.5 7.2 6.8 Acquired growth % - 3.5 1.6 2.9 3.0 Change in currencies % 7.4 2.5 6.1 2.2 2.9 Operating margin (EBITA margin) r12 % - - 7.1 5.1 4.7 Lease adjusted operating margin (lease adjusted EBITA margin) r12 % - - 3.7 1.8 1.4 Working capital SEKm - - -292 -256 -429 Return on capital employed % - - 5.6 3.4 3.2 Net debt to equity ratio times - - 2.7 2.8 2.9 Equity to asset ratio % - - 23 23 22 Net debt/EBITDA r12 times - - 5.1 6.6 6.6 Lease adjusted net debt / Lease adjusted EBITDA times - - 1.8 4.1 4.4 Free cash flow SEKm 197 -273 320 -82 24 Net investments SEKm -35 -30 -101 -142 -187 Average number of employees 22,236 21,640 21,643 20,723 20,821 Key data per share Earnings per share, basic SEK 1.43 0.59 1.98 0.00 -0.28 Earnigns per share, diluted SEK 1.43 0.59 1.97 0.00 -0.28 Adjusted earnings per share, diluted SEK 1.45 0.80 2.48 0.74 0.68 Equity per share, basic SEK - - 33.32 31.25 31.07 Equity per share, diluted SEK - - 33.31 31.24 31.07 Average number of shares outstanding, basic thousands 160,933 160,933 160,933 160,923 160,925 Average number of shares outstanding, diluted thousands 160,955 160,933 160,956 160,933 160,938 Number of shares, end of period thousands 161,387 161,387 161,387 161,387 161,387 Number of treasury shares, end of period thousands 454 454 454 454 454 Number of shares outstanding, end of period thousands 160,933 160,933 160,933 160,933 160,933 Q3 Jan-Sep ===== SIDA 30 ===== Attendo Interim report, January-September 2023 30 (35) Quarterly Data SEKm Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Total net sales 3,338 3,482 3,546 3,679 3,789 4,044 4,333 4,488 - Net sales, own operations 2,957 3,093 3,163 3,298 3,412 3,570 3,865 4,017 - Net sales, outsourcing 381 389 383 381 377 474 468 471 Total net sales 3,338 3,482 3,546 3,679 3,789 4,044 4,333 4,488 - Net sales, Scandinavia 1,584 1,607 1,631 1,670 1,691 1,692 1,701 1,737 - Net sales, Finland 1,754 1,875 1,915 2,009 2,098 2,352 2,632 2,751 Lease adjusted operating profit (EBITDA) 118 86 46 228 66 177 209 416 Lease adjusted operating margin (EBITDA margin), % 3.5 2.5 1.3 6.2 1.7 4.4 4.8 9.3 Lease adjusted operating profit (EBITA) 65 31 -11 171 8 116 147 346 Lease adjusted operating margin (EBITA margin), % 2.0 0.9 -0.3 4.7 0.2 2.9 3.4 7.7 Operating profit (EBITDA) 511 507 481 673 513 665 720 963 Operating margin (EBITDA margin), % 15.3 14.6 13.6 18.3 13.5 16.4 16.6 21.5 Operating profit (EBITA) 172 142 106 295 131 241 283 534 Operating margin (EBITA margin), % 5.2 4.1 3.0 8.0 3.5 6.0 6.5 11.9 Profit for the period -8 -32 -63 95 -44 28 60 230 Profit margin, % -0.2 -0.9 -1.8 2.6 -1.2 0.7 1.4 5.1 Earnings per share basic, SEK -0.06 -0.20 -0.39 0.59 -0.27 0.17 0.37 1.43 Earnings per share diluted, SEK -0.06 -0.20 -0.39 0.59 -0.27 0.17 0.37 1.43 Adjusted earnings per share diluted, SEK 0.21 0.09 -0.14 0.80 -0.07 0.43 0.60 1.45 Average number of employees 19,303 19,749 20,780 21,640 20,403 20,699 21,994 22,236 Operational data Number of units in operation¹ 710 711 705 707 705 712 710 704 Number of beds in homes² 21,093 21,155 21,062 21,082 20,932 20,923 20,870 20,863 Occupancy in homes, %² 84 84 84 85 85 86 86 86 Number of opened beds³ 99 60 84 130 - 58 86 12Number of beds, construction start in the quarter³ 83 60 5 - 101 58 15 118 Number of beds under construction³ 433 433 354 224 325 325 252 352 1) All units in all contract models and segments. 2) All homes. 3) Own homes. ===== SIDA 31 ===== Attendo Interim report, January-September 2023 31 (35) Parent Company Income Statement Profit for the period corresponds to total comprehensive income. Parent Company Balance Sheet Jan-Dec SEKm 2023 2022 2023 2022 2022 Net sales 4 4 13 12 17 Personnel costs -9 -7 -29 -25 -35 Other external costs -2 -3 -8 -10 -13 Operating profit -7 -6 -24 -23 -31 Net financial items 0 0 0 0 - Profit after financial items -7 -6 -24 -23 -31 Group contributions - - - - -98 Profit before tax -7 -6 -24 -23 -129 Results of commission 93 117 184 233 243 Income tax -19 -16 -35 -37 -29 Profit for the period 67 95 125 173 85 Q3 Jan-Sep SEKm 30 Sep 2023 30 Sep 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 265 239 206 Other receivables 19 1 18 Cash and cash equivalents 0 0 0 Total current assets 284 240 224 Total assets 6,778 6,734 6,718 EQUITY AND LIABILITIES Equity 6,749 6,711 6,623 Current liabilities Liabilities to group companies 15 10 82 Other liabilities 14 13 13 Total current liabilities 29 23 95 Total equity and liabilities 6,778 6,734 6,718 ===== SIDA 32 ===== Attendo Interim report, January-September 2023 32 (35) 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 33 ===== Attendo Interim report, January-September 2023 33 (35) 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 ===== SIDA 34 ===== Attendo Interim report, January-September 2023 34 (35) 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. 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 35 ===== Attendo AB (publ) I Vendevägen 85B, 182 91 Danderyd I Phone +46 8 586 251 00 I Fax +46 8 586 250 01 I www.attendo.com i INFORMATION TO SHAREHOLDERS AND ANALYSTS Financial Calendar Year-end report January-December 2023 8 February 2024 Interim report January-March 2024 24 April 2024 Interim report January-July 2024 19 July 2023 Interim report January-September 2024 24 October 2023 Presentation A webcasted presentation will be held on October 24 at 10:00 (CET). You can follow the presentation at the following web link: https://ir.financialhearings.com/attendo-q3-2023/register 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: Mikael Malmgren 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 24 October 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