FULLTEXT DEL 1 AV 1

Kvartalsrapport Q3 2024

===== SIDA 1 =====

Interim report
January - September 2024
• Higher profit primarily driven by the acquisition of
Team Olivia in Scandinavia and improved summer
staffing in Finland
• Sharp improvements in national customer surveys
- higher satisfaction than public providers in Sweden
and industry average in Finland

===== SIDA 2 =====

Attendo | Interim report January - September 2024 2 (31)

1 See further definitions of performance measures and alternative performance measures on pages 29-30.
2 Profit for the period attributable to the parent company shareholders excluding amortization and impairment of acquisition-related intangible assets, items affecting comparability related to divestment, IFRS 16 and related tax effects divided by the average number of shares
outstanding after dilution.
Summary

Third quarter
July - September 2024
The period
January - September 2024
Group
key figures
• Net sales amounted to SEK 4,875m (4,488).
Total growth amounted to 8.6 percent, of
which organic growth was 2.2 percent.
• Lease adjusted operating profit (EBITA)1 was
SEK 402m (346), corresponding to a margin of
8.2 percent (7.7). Adjusted for M&A related
integration costs and close down cost in
Denmark the profit was SEK 420m, which
corresponds to a margin of 8.6 percent.
• Operating profit (EBITA) amounted to SEK 536m
(534), corresponding to an operating margin of
11.0 percent (11.9).
• Profit for the period amounted to SEK 235m
(230). Earnings per share after dilution
amounted to SEK 1.50 (1.43). Adjusted earnings
per share after dilution amounted to SEK 1.87
(1.45).
• Free cash flow amounted to SEK 91m (197).
• The number of beds in Attendo's homes at the
end of the period was 21,225 (20,863).
Occupancy in homes was 86 percent (86).

• Net sales amounted to SEK 14,102m (12,865).
Total growth amounted to 9.6 percent, of
which organic growth was 4.3 percent.
• Lease adjusted EBITA1 was SEK 726m (609),
corresponding to an operating margin of 5.1
percent (4.7). Adjusted for integration costs and
close down costs the profit amounted to SEK
770m, which corresponds to a margin of 5.5
percent.
• Operating profit (EBITA) amounted to SEK
1,127m (1,058), corresponding to an operating
margin of 8.0 percent (8.2).
• The profit for the period amounted to SEK
342m (318). Diluted earnings per share were
SEK 2.15 (1.97). Adjusted earnings per share
after dilution were SEK 3.11 (2.48).
• Free cash flow amounted to SEK 310m (320).

Net sales growth1
+9
Percent
Growth lease adj. operating profit (EBITA)
+16
Percent
Adjusted earnings per share, R12
3.65
SEK
Occupancy
86
Percent

Jan-Dec
SEKm 2024 2023 Δ% 2024 2023 Δ% 2023
Net sales 4,875 4,488 9 14,102 12,865 10 17,287
Lease adjusted operating
profit (EBITA)¹ 402 346 16 726 609 19 745
Lease adjusted operating
margin (EBITA)¹, % 8.2 7.7 - 5.1 4.7 - 4.3
Operating profit (EBITA)¹ 536 534 0 1,127 1,058 7 1,333
Operating margin (EBITA)¹, % 11.0 11.9 - 8.0 8.2 - 7.7
Profit for the period 235 230 2 342 318 7 376
Earning per share diluted, SEK 1.50 1.43 5 2.15 1.97 10 2.33
Adjusted earnings per share
diluted¹ʼ ², SEK 1.87 1.45 29 3.11 2.48 26 3.02
Free cash flow 91 197 -54 310 320 -3 724
Lease adjusted net debt /
lease adjusted EBITDA - - - 2,1x 1,8x - 1,2x
Q3 Jan-Sep

===== SIDA 3 =====

Attendo | Interim report January - September 2024 3 (31)

CEO’s statement
Improvement in performance and customer satisfaction
We continue to show good growth in
both sales and earnings in the third
quarter. At the same time, the integration
of Team Olivia is entering the final phase
as we are now creating two new brands
for our I&F and disabled care operations
in the Swedish market - Viljan and Unika.
The ambition is to strengthen our position
as a leading provider of highly specialised
care in these segments.
We received confirmation in the quarter
that our focus on quality, customer care
and efficiency is yielding results. In
national customer surveys, Attendo
receives significantly higher customer
satisfaction ratings than publicly run
nursing homes in Sweden and the
industry average in Finland. At the same
time, reports show that private providers
reduce costs for taxpayers. This shows
that we as a private provider can create
benefits for care recipients, society and
shareholders.
In the quarter, 127 beds were opened in
new nursing homes, which together with
existing spare capacity creates conditions
for future organic growth. Attendo has
previously set the target of achieving
adjusted earnings of 4 SEK per share,
which is still expected to be achieved in
2024.
Growth driven by acquisitions
In the third quarter, sales for the Attendo Group
increased by 9 percent to SEK 4.9 billion, mainly
driven by the acquisition of Team Olivia. Adjust-
ed for non-recurring items, the underlying lease-
adjusted operating profit (EBITA) also increased
in the quarter by SEK 74m to SEK 420m (346).
The result improved significantly in both Sweden
and Finland. Cash flow remains strong, but was
affected by increased holiday taking and interest
payments in the quarter. We will continue with
share buybacks in the next quarter.
Improved result in Finland
Profit in the Finnish operations increased by SEK
28 million to SEK 277 million (249), mainly
driven by lower personnel costs and higher
efficiency during the important summer period.
The improvement in earnings is also driven by a
continued positive year-on-year price effect in
functional care and social psychiatry, offset,
however, by some negative effect of the timing
of price and wage increases in elderly care
compared with the previous year.
At the end of September, the Finnish
government submitted a proposal to Parliament
to reduce staffing requirements in nursing
homes from 0.65 to 0.60 as of January 2025.
Contract negotiations on the reduced staffing
requirement are expected to be finalised before
the end of the year. We are well prepared for
the expected change, and believe that in the
long term the reform will ease the balance in
the labour market for care workers in Finland.
Upturn in Scandinavia driven by
acquisitions and own operations
Profit in the Scandinavian operations increased
by SEK 48m to SEK 164m (116), adjusted for
non-recurring items. The improvement in profit
is mainly due to the acquisition of Team Olivia
and improved results in own nursing homes. As
in the previous quarter of 2024, earnings were
negatively affected by the termination of
outsourcing contracts.
It is gratifying to see that the acquisition of
Team Olivia is already making an important
contribution to earnings. We have worked
intensively since April to integrate the
businesses and build a strong team together.
Since October, the new organisation is in place,
and we are now starting the work of developing
our disabled care and I&F business.
New brands in Sweden in
disabled care and I&F
At the end of September, Attendo presented
two new brands within Attendo Scandinavia -
Unika for disabled care and Viljan for individual
and family care. This is partly a consequence of
the merger with Team Olivia, which has long
worked with a diversified brand portfolio. But it
also marks a new strategy and increased
ambition in these care segments where we see
good opportunities for further growth.
With the new brands as a base, we will have
better opportunities to profile our operations
towards key target groups, to bundle our
offerings and to develop our competences. At
the same time, the organisations will have
better opportunities to be seen in their own
new channels. It also gives Attendo's elderly
Martin Tivéus, President and CEO
Attendo can play an
important role by building
new, modern capacity and
introducing more efficient
ways of working with the
help of new technology so
that existing social
resources last longer.

===== SIDA 4 =====

Attendo | Interim report January - September 2024 4 (31)

care operations in Sweden an exclusive
opportunity to strengthen its position as the
leading brand in nursing homes and home care.
Leading customer satisfaction in
elderly care in Sweden and Finland
One of Attendo's long-term goals is to have the
most satisfied care customers in the markets
where we operate. In Sweden, the National
Board of Health and Welfare conducts an annual
user survey, in which older people answer
questions about how they experience care. This
year's survey shows a sharp improvement in
satisfaction with Attendo in nursing homes -
from 75% in 2023 to 81% in 2024. Attendo also
has more units with 100% satisfaction than in
previous years. The survey shows that Attendo
now has a higher average satisfaction rate in
nursing homes than public providers (78%) in
the local authorities where we operate.
In Finland, the National Institute for Health and
Welfare (THL) presented its second national user
survey on customer satisfaction in care for older
people during the quarter. The average
satisfaction (Net Promoter Score, NPS) with
Attendo's operations increased to 40 from 31 in
the previous survey (2022). The average for the
industry as a whole was 36 (36). It is also
gratifying that Attendo now has four care units
on THL's national top 10 list of care units with
the highest customer satisfaction in Finland.
Better care for more people
Public finances in the local authorities and
welfare regions where we operate continue to
be strained in both Finland and Sweden, which
has led to fewer citizens than normal being
granted places in nursing homes over the past
year.
During the quarter, Attendo Finland presented a
care survey that shows widespread concern
about access to care among the Finnish public.
About 8 out of 10 worry that there will be no
care services for themselves or a close relative in
need, and two-thirds worry that they will be
cared for by relatives instead. A similar
proportion believe that there are already people
living at home who should be offered a nursing
home.
The report confirms that there is a large gap
between the current allocation of care services
and what the public expects. As a private
provider, Attendo can play an important role
here by building new, modern capacity and
introducing more efficient ways of working with
the help of new technology so that existing
social resources last longer. This is well in line
with our long-term ambition - to provide society
with better care to more people.
Martin Tivéus, President and CEO

===== SIDA 5 =====

Attendo | Interim report January - September 2024 5 (31)

Group
July - September 2024
Net sales
Net sales increased by 8.6 percent to SEK
4,875m (4,488) during the period. Adjusted for
currency effects, net sales increased by 10.4
percent, of which organic growth amounted to
2.2 percent, and net change as a result of
acquisitions and divestments amounted to 8.2
percent. Organic growth is explained by
increased net sales in Attendo Finland.
Operating profit
Lease adjusted operating profit (EBITA)
amounted to SEK 402m (346) and the margin
was 8.2 percent (7.7). Adjusted for integration
and close down costs, the profit amounted to
SEK 420m, which corresponds to a margin of 8.6
percent. Profit increased in both Attendo
Scandinavia and Attendo Finland.
IFRS16-related effects on operating profit
(EBITA) amounted to SEK 134m (188). The
comparison quarter was positively affected by
non-recurring items of SEK 53m mainly due to
reversal of previous write-downs in Attendo
Finland.
Operating profit (EBITA) amounted to SEK 536m
(534) and the operating margin to 11.0 percent
(11.9).
Operating profit (EBIT) amounted to SEK 510m
(519), corresponding to an operating margin
(EBIT) of 10.5 percent (11.6). The change is
explained by the same factors as described
above and increased amortisation of acquisition
related intangible assets.

Net financial items
Net financial items amounted to SEK -209m
(-223) in the quarter, of which net interest
expenses corresponded to SEK -42m (-32).
Interest expenses related to lease liability in real
estate in accordance with IFRS 16 amounted to
SEK -169m (-178) of which SEK -15m were non-
recurring items in the comparison quarter.
Taxes
Income tax amounted to SEK -66m (-66), corre-
sponding to a tax rate of 21.9 percent (22.3).
Profit for the period
and earnings per share
Profit for the period amounted to SEK 235m
(230), corresponding to a basic and diluted
earnings per share for parent company
shareholders of SEK 1.50 (1.43). Adjusted
earnings per share after dilution amounted to
SEK 1.87 (1.45).
Cash flow
Cash flow before changes in working capital
amounted to SEK 1,025m (965). Changes in
working capital were SEK -286m (-168). The
negative effect in working capital is mainly
explained by increased holiday takings.
Net investments in fixed assets amounted to SEK
-42m (-35). Free cash flow amounted to SEK
91m (197).

Cash flow from operations was SEK 528m (601).
Acquisitions of businesses amounted to
SEK -5m (-5). Cash flow from investing activities
amounted to SEK -47m (-40). Repurchase of
shares amounted to SEK -86m (0). During the
quarter, the net change in bank loans was SEK
10m (-50). Dividend during the quarter
amounted to SEK 0m (0). Cash flow from
financing activities amounted to SEK -471m
(-419). Total cash flow amounted to SEK 10m
(142).
Beds and occupancy
The total number of beds in operation in homes
at the end of the quarter was 21,225 (20,863).
The increase is mainly related to acquisitions.
Occupancy in homes at the end of the quarter
was 86 percent (86). The number of beds in own
operations under construction was 461,
distributed among 12 homes.
Lease adjusted operating profit (EBITA)
per quarter (SEKm)

Net sales and lease adjusted
operating margin (EBITA) (SEKm), R12

Adjusted earnings per share (SEK), R12

8
136 116 147
346
161 163
402
Q4 Q1 Q2 Q3
2022 2023 2024
0.0%
2.0%
4.0%
6.0%
0
5,000
10,000
15,000
20,000
Q4
22
Q1
23
Q2
23
Q3
23
Q4
23
Q1
24
Q2
24
Q3
24
Net sales Lease adj. EBITA margin
2.41
3.02 3.17 3.25
3.65
Q3 23 Q4 23 Q1 24 Q2 24 Q3 24

===== SIDA 6 =====

Attendo | Interim report January - September 2024 6 (31)

Group
January - September 2024
Net sales
Net sales increased by 9.6 percent to SEK 14,102m
(12,865) during the period. Adjusted for currency
effects, net sales increased by 10.0 percent, of
which organic growth amounted to 4.3 percent
and net change as a result of acquisitions and
divestments to 5.7 percent. Organic growth is
mainly explained by increased net sales in Attendo
Finland.
Operating profit
Lease adjusted operating profit (EBITA) amounted
to SEK 726m (609) and the margin was 5.1 percent
(4.7). Adjusted for integration and close down
costs, the profit amounted to SEK 770m, which
corresponds to a margin of 5.5 percent. Profits
increased in both Attendo Finland and Attendo
Scandinavia compared to previous year.
IFRS16-related effects on operating profit (EBITA)
amounted to SEK 401m (449).
Operating profit (EBITA) amounted to SEK 1,127m
(1,058) and the operating margin to 8.0 percent
(8.2).
Operating profit (EBIT) amounted to SEK 1,063m
(1,013), corresponding to an operating margin
(EBIT) of 7.5 percent (7.9). The change is explained
by the same factors as described above and
increased amortisation of acquisition related
intangible assets.

Net financial items
Net financial items amounted to SEK -626m
(-603) in the period, of which net interest
expenses corresponded to SEK -110m (-95).
Interest expenses related to lease liability real
estate in accordance with IFRS 16 amounted to
SEK -510m (-506).
Taxes
Income tax amounted to SEK -95m (-92), corre-
sponding to a tax rate of 21.7 percent (22.5).
Profit for the period
and earnings per share
Profit for the period amounted to SEK 342m (318),
corresponding to basic earnings per share for
parent company shareholders of SEK 2.16 (1.98)
and diluted of SEK 2.15 (1.97). Adjusted earnings
per share after dilution amounted to SEK 3.11
(2.48).
Cash flow
Cash flow before changes in working capital
amounted to SEK 2,498m (2,313). Changes in
working capital were SEK -298m (-272). The
working capital was negatively affected by a one-
off compensation in accordance with the
collective agreement in Finland.
Net investments in fixed assets amounted to SEK -
131m (-101). Free cash flow amounted to SEK
310m (320).

Cash flow from operations was SEK 1,584m
(1,454). Acquisitions of businesses amounted to
SEK -1,062m (-9). Cash flow from investing
activities amounted to SEK -1,193m (-110).
Repurchase of shares amounted to SEK -240m (0).
Dividend during the period amounted to SEK -
159m (0). Cash flow from financing activities
amounted to SEK -630m (-1,133). During the
quarter, the net change in bank loans was SEK
910m (-102). Total cash flow amounted to SEK
-239m (211).
Financial position
Equity attributable to shareholders in the parent
company amounted to SEK 5,329m (5,362) as of
30 September 2024, corresponding to SEK 33.57
(33.31) per share after dilution. Net debt
amounted to SEK 16,073m (14,599). Lease
adjusted net debt excluding lease liability real
estate amounted to SEK 2,368m (1,580).
Interest-bearing liabilities amounted to SEK
16,777m (15,340) as of 30 September 2024. Cash
and cash equivalents as of 30 September 2024
were SEK 691m (726) and Attendo had SEK
1,075m (1,650) in unutilized credit facilities.
Lease adjusted net debt / lease adjusted EBITDA
amounted to 2.1x (1.8x). Net debt / EBITDA
amounted to 4.9x (5.1x).

Many of Attendo's customers got to enjoy the nice
summer weather this past summer.

===== SIDA 7 =====

Attendo | Interim report January - September 2024 7 (31)

Cash Flow in Summary
(alternative performance measure)

Net Debt
(alternative performance measure)

Jan-Dec
SEKm 2024 2023 2024 2023 R12 2023
Operating profit (EBITDA) 1,029 963 2,567 2,348 3,264 3,045
Paid income tax and other non-
cash items -4 2 -69 -35 -65 -31
Cash flow before changes in
working capital 1,025 965 2,498 2,313 3,199 3,014
Changes in working capital -286 -168 -298 -272 -14 12
Cash flow after changes in
working capital 739 797 2,200 2,041 3,185 3,026
Net investments -42 -35 -131 -101 -163 -133
Operating cash flow 697 762 2,069 1,940 3,022 2,893
Interest received/paid -42 -18 -106 -81 -153 -128
Interest expense for and
repayment of lease liabilities of
real estate -564 -547 -1,653 -1,539 -2,155 -2,041
Free cash flow 91 197 310 320 714 724
Total cash flow 10 142 -239 211 -28 422
Q3 Jan-Sep

SEKm 2024 2023 2024 2023
Interest-bearing liabilities and provisions 3,059 2,306 16,764 15,325
Cash and cash equivalents -691 -726 -691 -726
Net debt 2,368 1,580 16,073 14,599
Net debt / EBITDA 2.1x 1.8x 4.9x 5.1x
* Excluding lease liabilities of real estate
Lease adjusted* Reported
30 Sep

===== SIDA 8 =====

Attendo | Interim report January - September 2024 8 (31)

Sustainable care
Attendos shall create value for customers and relatives, employees and payors
through high-quality care that meets the needs of the future, while acting
responsibly in the society and and towards the environment and climate.

Progress in national customer satisfaction surveys - Attendo
scores higher than peers in nursing homes in Sweden and Finland
Reports confirm need for
private care providers
During the quarter, national authorities in both Sweden and
Finland (the National Board of Health and Welfare and the
National Institute for Health and Welfare, THL) published the
results of their national surveys of customer satisfaction in
elderly care.

In the survey in Finland (by THL), Attendo's total Net Promoter
Score (NPS) was 40, a clear improvement from 31 in the
previous survey (2022), and clearly stronger than the industry
average of 36. Attendo also has four nursing homes on THL's
‘Top 10’ list of nursing homes with the highest NPS in the entire
country. A total of 14 (11) of Attendo's nursing homes are listed
among those with the highest satisfaction in the survey. This
positive development is in line with the trend in Attendo's
internal measurements and provides strong support for
continuing to focus on person-centred care that meets each
customer's needs and wishes.

In Sweden, which has a lower proportion of private care than
many other countries (including Finland), care organisations run
by the public sector often enjoy higher levels of trust. However,
in this year's survey by the National Board of Health and
Welfare, customer satisfaction for independent nursing homes
reached 80%, higher than the 79% of public providers.
Attendo's nursing homes achieved an overall satisfaction rate of
81%, which clearly exceeded the average for the public sector
in the local authorities where Attendo is located (78%). Six of
Attendo's homes achieved 100% satisfaction. The number of
homes with over 90% satisfaction also increased.

During the quarter, Attendo conducted a comprehensive
survey of the public's views on the state and future of social
care in Finland. Over 70% of respondents expressed concern
about the availability of care for older people for themselves
and their relatives, and 66% fear that they themselves would
have to pay for care beyond their means. A similar survey in
Sweden (Myndigheten för vård- och omsorgsanalys, June 2024)
showed that while four out of five Swedes expect elderly care
in 2040 to meet the needs of the elderly population to a
greater or at least the same extent as today, only 2 out of 5
municipalities believe they can maintain current levels.

The growing demand for care, together with increasing costs to
society, clearly shows that private providers are needed as
partners to the public sector. Moreover, private providers have
been shown to run care more cost-effectively - 8% lower costs
in Sweden (Vårdföretagarna, 2023) and around 23% lower in
Finland (Hyvinvointiala HALI ry, 2024).

Overall, a growing number of surveys and reports now show
that the efficient ways of working of private providers,
together with a strong focus on the individual's experience of
care, create value - both for care customers and for society.

===== SIDA 9 =====

Attendo | Interim report January - September 2024 9 (31)

Sustainable care
Non-financial key figures
Attendo works systematically and purposefully
with sustainability. Every quarter, we report the
latest key figures in order to disclose the
outcome of our work.

Quality audits
and deviations
Attendo has strict procedures for handling
deviations in the care operations. This includes
procedures for reporting, managing and
following up on any deviations from internal
guidelines or working methods, as well as
serious incidents that have led to or risked
leading to care related injuries for individuals
(Lex Sarah and Lex Maria in Sweden).
Scandinavia
During the third quarter, a total of 13 cases from
Sweden were reported to the supervisory
authority IVO according to Lex Sarah or Lex
Maria.
Finland
The total number of open cases was 10 at the
end of the quarter. The surveillance of elderly
care is increasingly being transferred to the new
welfare regions, resulting in a lower number of
open AVI cases. As the roles and systems
develop, Attendo will update its reporting in
order to provide the most accurate reflection of
ongoing cases.

Key figures Q3 2024 Q3 2023
Customer satisfaction cNPS (-100 to +100) 45 40
Payor satisfaction (pSAT)* 4/5 -
Relatives satisfaction rNPS (-100 to +100) 43 35
Number of customers 29,500 27,300
New beds opened in own units, R12 286 156
Employee satisfaction eNPS (-100 to +100) 26 13
* A group-wide survey during Q4 2023 of payors’ views of Attendo, where payors were asked about their
satisfaction with Attendo as a partner in general and in specific areas. The response rate to the survey was
relatively low, which affects the ability to draw definitive conclusions.

Measuring and following up satisfaction among
customers, relatives, employees and payors is an
important part of Attendo's work for sustainable care.

===== SIDA 10 =====

Attendo | Interim report January - September 2024 10 (31)

Business area Finland
Profits in line with last year
July - September 2024
Net sales in Attendo Finland amounted to SEK
2,829m (2,751), corresponding to a growth of
2.8 percent. Adjusted for currency effects, net
sales increased by 5.7 percent, equivalent to
organic growth. The growth is explained by
increased net sales mainly due to price
adjustments.
Occupancy was in line with the comparison
quarter and slightly increased compared to the
second quarter 2024.
Lease adjusted operating profit (EBITA)
amounted to SEK 277m (249) and the margin
was 9.8 percent (9.1). The improvement is
explained by partly lower personnel costs,
mainly linked to summer staffing. Positive price
effects in disabled care and social psychiatry
have also contributed to the increase. Negative
price effects in care for older people as a result
of the timing of price and salary increases have
had a negative impact on the result. Staffing was
still elevated to be able to receive new
customers.
IFRS16-related effects on operating profit
(EBITA) amounted to SEK 84m (140). The
comparison quarter was positively affected by
non-recurring items of SEK 53m mainly due to
the reversal of previous write-downs.
Operating profit (EBITA) amounted to SEK 361m
(389) and the operating margin (EBITA)
amounted to 12.8 percent (14.1). Currency
effects were SEK -7m.

During the quarter Attendo opened one home
for disabled care and acquired two homes in
care for older people. The number of beds
under construction in own operations at the end
of the quarter amounted to 320 beds.
January - September 2024
Net sales in Attendo Finland amounted to SEK
8,333m (7,735), corresponding to a growth of
7.7 percent. Adjusted for currency effects, net
sales increased by 8.3 percent, equivalent to
organic growth. The growth is explained by
increased net sales mainly in nursing homes due
to price adjustments.
Occupancy was in line with the comparison
period.
Lease adjusted operating profit (EBITA)
amounted to SEK 546m (453) and the margin
was 6.6 percent (5.9). The increase in earnings is
primarily explained by higher price increases
than cost increases in care for older people,
disabled care and social psychiatry.
IFRS16-related effects on operating profit
(EBITA) amounted to SEK 251m (304).
Operating profit (EBITA) amounted to SEK 797m
(757) and the operating margin (EBITA)
amounted to 9.6 percent (9.8). Currency effects
had no significant impact on the profit.

Net sales and operating profit

Net sales and lease adjusted operating margin (EBITA), R12

Jan-Dec
SEKm 2024 2023 2024 2023 2023
Net sales 2,829 2,751 8,333 7,735 10,458
Lease adjusted operating profit (EBITA) 277 249 546 453 551
Lease adjusted operating margin (EBITA), % 9.8 9.1 6.6 5.9 5.3
Operating profit (EBITA) 361 389 797 757 946
Operating margin (EBITA), % 12.8 14.1 9.6 9.8 9.0
Q3 Jan-Sep
-2%
0%
2%
4%
6%
8%
6,000
7,000
8,000
9,000
10,000
11,000
12,000
Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24
Net sales, SEKm Lease adjusted EBITA margin

===== SIDA 11 =====

Attendo | Interim report January - September 2024 11 (31)

Business area Scandinavia
Improved profit driven by acquisitions and own nursing homes
July - September 2024
Net sales in Attendo Scandinavia amounted to
SEK 2,047m (1,737), representing an increase of
17.9 percent both before and after currency
effects. The increase is primarily explained by
acquisitions. Net sales increased in nursing
homes in own operations, but decreased in
outsourcing due to ended contracts.
Occupancy in homes decreased slightly
compared to the comparison quarter and the
second quarter 2024, which is explained by the
opening of three new homes during the quarter.
Lease adjusted operating profit (EBITA)
amounted to SEK 146m (116), corresponding to
a margin of 7.1 percent (6.7). Adjusted for
integration and closed down costs, the
underlying profit amounted to SEK 164m, which
corresponds to a margin of 8.0 percent.
The increased profit in Scandinavia is mainly
explained by profit from acquired operations,
but also by continued improved profit within
own nursing homes in Sweden. Ended
outsourcing contracts had a negative impact on
the profit in relation to the comparison quarter.
Integration costs amounted to SEK 9m and close
down costs for the home care operations in
Denmark amounted to SEK 9m.
IFRS16-related effects on operating profit
amounted to SEK 49m (48).
Operating profit (EBITA) amounted to SEK 195m
(164), corresponding to an operating margin
(EBITA) of 9.5 percent (9.4).
During the quarter, Attendo opened three
operations with 112 beds, closed down a home
for care for older people in Denmark and a
couple of smaller homes in Sweden. Attendo
ended outsourcing contracts with approximately
180 beds. During the quarter, Attendo started
building homes with a total of 12 beds. The
number of beds under construction in own
operations amounted to 141 at the end of the
quarter.
Estimated annual sales for outsourcing contracts
that have been won but not yet started and
outsourcing contracts that have been lost but
not yet ended are estimated to be SEK -52m net.
Contracts with annual sales of approximately
SEK -90m net will end or start in the fourth
quarters of 2024.
January - September 2024
Net sales in Attendo Scandinavia amounted to
SEK 5,770m (5,130), representing a, increase of
12.5 percent both before and after currency
effects. The increase is explained by acquisitions.
Net sales increased in nursing homes in own
operations, but decreased in outsourcing due to
ended contracts.
Occupancy in homes increased compared to the
comparison period.
Lease adjusted operating profit (EBITA)
amounted to SEK 240m (213), corresponding to
a margin of 4.2 percent (4.2). Adjusted for
integration and close down costs of SEK 22m
and SEK 22m, respectively, the profit amounted
to SEK 284m, which corresponds to a margin of
4.9 percent.

The improvement is mainly explained by
acquisitions, but the profit also increased in own
operations in Sweden, both in care for elderly
and disabled care. The improvement is driven by
higher occupancy and price adjustments. Ended
outsourcing contracts had a negative impact on
the profit in relation to the comparison period.
IFRS16-related effects on operating profit
amounted to SEK 150m (146).
Operating profit (EBITA) amounted to SEK 390m
(359), corresponding to an operating margin
(EBITA) of 6.8 percent (7.0).
Net sales and operating profit

Net sales and lease adjusted operating margin (EBITA), R12

Jan-Dec
SEKm 2024 2023 2024 2023 2023
Net sales 2,047 1,737 5,770 5,130 6,829
Lease adjusted operating profit (EBITA) 146 116 240 213 274
Lease adjusted operating margin (EBITA), % 7.1 6.7 4.2 4.2 4.0
Operating profit (EBITA) 195 164 390 359 468
Operating margin (EBITA), % 9.5 9.4 6.8 7.0 6.9
Q3 Jan-Sep
0%
2%
4%
6%
8%
6,000
6,500
7,000
7,500
8,000
Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24
Net sales, SEKm Lease adjusted EBITA margin

===== SIDA 12 =====

Attendo | Interim report January - September 2024 12 (31)

Operational data
Finland

Scandinavia
Customers and beds

Net sales by service offering in the quarter, %

Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024Number of beds in homes in operation¹
Number of beds in homes in operation¹ 14,029 13,999 14,022 14,121 14,193
Occupancy in homes¹, % 86 85 85 85 85

Number of opened beds² - - - 147 15
Number of beds, construction start in the quarter² 56 113 - 151 -
Number of beds under construction² 230 343 343 335 320

Number of home care customers 457 458 489 511 515
1) All homes.
2) Own homes.
Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024Number of beds in homes in operation¹
Number of beds in homes in operation¹ 6,834 6,576 6,484 7,205 7,032
Occupancy in homes¹, % 87 87 87 88 87

Number of opened beds² 12 - - - 112
Number of beds, construction start in the quarter² 62 106 - 13 12
Number of beds under construction² 122 228 228 241 141
Number of home care customers 8,028 7,964 7,823 9,813 9,798
1) All homes.
2) Own homes.
72
9
11
7
Care for older people
Disabled care
Individual and family care and social
psychiatry
Other (Rehab, meal svcs., etc.)
70
19
11 0
Care for older people
Disabled care
Individual and family care and social
psychiatry
Other

===== SIDA 13 =====

Attendo | Interim report January - September 2024 13 (31)

Other information
Acquisitions
• During the quarter a care for older people
operation was acquired in Finland.
• During the quarter, a home for care for older
people in Denmark was divested.
Changes in the Executive
Management Team
Josefine Uppling has been appointed
Communications Director and a member of the
Executive Management team and will take her
position no later than April 2025. Her
predecessor Andreas Koch left Attendo in early
October. Attendo's General Counsel and
Director of Sustainability Jo-Anna Nordström will
leave the company by April 2025 at the latest.

Number of shares
The total number of shares amounts to
160,103,190. Attendo holds 4,678,212 treasury
shares and the total number of outstanding
shares on 30 September 2024 amounted to
155,424,978.
During the third quarter of 2024, Attendo has
repurchased 1,816,289 shares as part of the
repurchase program announced on 19 July and
implemented during the period 22 July 2024 to
25 October 2024.
Number of employees
The average number of annual employees in the
third quarter was 24,461 (22,236).
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.
The 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 January - September
amounted to SEK 14m (13), and were entirely
related to services provided to subsidiaries.
The loss for the period after financial items
amounted to SEK -29m (-24). At the end of the
period, cash and cash equivalents amounted to
SEK 15m (0), shares in subsidiaries to SEK
6,494m (6,494) and non-restricted equity SEK
6,288m (6,748).
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 compen-
sation 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.
Other
Nothing else to report.
Significant events after the
balance sheet date
There were no significant events after the
reporting date.

Risks and uncertainties
Attendo works systematically with risk
assessment and management as a central part
of Attendo's strategic process, where risks in
relation to the company's ability to achieve its
strategic and financial goals are evaluated in a
structured and regular manner.
The main risks that may affect the company's
ability to achieve its financial and strategic
objectives in the short to medium term are the
shortage of qualified staff, the negative impact
of strained public finances on local decisions on
care, and the continued high rate of inflation
and high interest rates.
The risks and how Attendo works to manage
them are described in more detail in Attendo's
annual report (see section Risks and risk
management in the Annual Report for 2023,
pages 49-52).

===== SIDA 14 =====

Attendo | Interim report January - September 2024 14 (31)

Accounting principles

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 2023. The most
significant accounting policies under IFRS, the reporting norm applied in preparing this interim
report, are set forth in Note C1 on pages 64-68 of the annual report for 2023, which were applied to
the preparation of this interim report.
The interim information on pages 1-13 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.
This interim report is a translation of the Swedish report.

Outlook
Attendo does not publish forecasts.

Danderyd, October 24, 2024

Martin Tivéus
President and CEO
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 2024 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 audit. 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 2024
PricewaterhouseCoopers AB

Erik Bergh
Authorized public accountant

===== SIDA 15 =====

Financial statements

===== SIDA 16 =====

Attendo | Interim report January - September 2024 16 (31)

Consolidated Income Statement

Consolidated Comprehensive Income

Jan-Dec
SEKm 2024 2023 2024 2023 2023
Net sales 4,875 4,488 14,102 12,865 17,287
Other operating income 8 6 29 30 40
Total revenue 4,883 4,494 14,131 12,895 17,327
Personnel costs -3,099 -2,829 -9,276 -8,416 -11,370
Other external costs -755 -702 -2,288 -2,131 -2,912
Operating profit before amortization and
depreciations (EBITDA) 1,029 963 2,567 2,348 3,045
Amortisation and depreciation of tangible
and intangible assets -493 -429 -1,440 -1,290 -1,712
Operating profit after depreciation (EBITA) 536 534 1,127 1,058 1,333
Operating margin (EBITA), % 11.0 11.9 8.0 8.2 7.7

Amortisation and write-down of acquisition
related intangible assets -26 -15 -64 -45 -59
Operating profit (EBIT) 510 519 1,063 1,013 1,274
Operating margin (EBIT), % 10.5 11.6 7.5 7.9 7.4
Net financial items -209 -223 -626 -603 -796
Profit before tax 301 296 437 410 478
Income tax -66 -66 -95 -92 -102
Profit for the period 235 230 342 318 376
Profit margin, % 4.8 5.1 2.4 2.5 2.2
Profit for the period attributable to:
Parent company shareholders 235 230 342 318 376
Basic earnings per share, SEK 1.50 1.43 2.16 1.98 2.33
Diluted earnings per share, SEK 1.50 1.43 2.15 1.97 2.33
Average number of shares outstanding,
basic, thousands 156,311 160,933 158,419 160,933 160,933
Average number of shares outstanding,
diluted, thousands 156,684 160,955 158,761 160,956 161,027
Q3 Jan-Sep
Jan-Dec
SEKm 2024 2023 2024 2023 2023
Profit for the period 235 230 342 318 376

Other comprehensive income for the
period

Items that will not be reclassified to profit
or loss
Remeasurements of defined benefit
pension plans, net of tax -2 0 4 11 0

Items that may be reclassified to profit or
loss
Exchange rate differences on translating
foreign operations attributable to the
parent company shareholders -12 -25 18 28 -18
Other comprehensive income for the
period -14 -25 22 39 -18

Total comprehensive income for the
period 221 205 364 357 358

Total comprehensive income attributable
to:
Parent company shareholders 221 205 364 357 358
Q3 Jan-Sep

===== SIDA 17 =====

Attendo | Interim report January - September 2024 17 (31)

Consolidated Balance Sheet

SEKm 30 Sep 2024 30 Sep 2023 31 Dec 2023
ASSETS
Non-current assets
Goodwill 7,966 7,288 7,197
Other intangible assets 674 462 431
Equipment 651 619 626
Right-of-use assets 12,222 11,614 11,248
Financial assets 498 563 457
Total non-current assets 22,011 20,546 19,959

Current assets
Trade receivables 1,708 1,674 1,564
Other current assets 593 592 447
Cash and cash equivalents 691 726 922
2,992 2,992 2,933

Assets held for sale 0 1 1
Total current assets 2,992 2,993 2,934

Total assets 25,003 23,539 22,893
SEKm 30 Sep 2024 30 Sep 2023 31 Dec 2023
EQUITY and LIABILITIES
Equity
Equity attributable to the parent company
shareholders 5,329 5,362 5,363
Total equity 5,329 5,362 5,363

Non-current liabilities
Liabilities to credit institutions 3,008 2,281 2,073
Long-term lease liabilities¹ 12,166 11,660 11,294
Provisions for post-employment benefits 0 0 0
Long term provisions 88 108 97
Other non-current liabilities 197 171 136
Total non-current liabilities 15,459 14,219 13,600

Current liabilities
Liabilities to credit institutions 0 0 0
Short-term lease liabilities² 1,602 1,399 1,381
Trade payables 413 461 506
Short-term provisions 52 39 51
Other current liabilities 2,148 2,059 1,992
Total current liabilities 4,215 3,958 3,930

Liabilities held for sale 0 0 0
Total current liabilities 4,215 3,958 3,930

TOTAL EQUITY AND LIABILITIES 25,003 23,539 22,893
1) Long-term lease liabilities include car leases amounting to SEK 30m (15m) and full year 2023 19.
2) Short-term lease liabilities include car leases amounting to SEK 33m (25m) and full year 2023 23.

===== SIDA 18 =====

Attendo | Interim report January - September 2024 18 (31)

Consolidated Statement of Changes in Equity

SEKm 30 Sep 2024 30 Sep 2023 31 Dec 2023
Opening balance 5,363 5,001 5,001

Total comprehensive income attributable to:
The parent company shareholders 364 357 358

Transactions with owners
Warrants 2 2 1
Dividend -159 - -
Repurchase of own shares -240 - -
Share-savings plan -1 2 3
Total transactions with owners -398 4 4

Closing balance 5,329 5,362 5,363
Equity attributable to:
Parent company shareholders 5,329 5,362 5,363
Jan-Dec
Operational cash flow (APM), SEKm 2024 2023 2024 2023 2023
Operating profit (EBITA) 536 534 1,127 1,058 1,333
Depreciation 493 429 1,440 1,290 1,712
Paid income tax -14 -18 -47 -55 -56
Other non-cash items 10 20 -22 20 25
Cash flow before changes in working
capital 1,025 965 2,498 2,313 3,014
Changes in working capital -286 -168 -298 -272 12
Cash flow after changes in working capital 739 797 2,200 2,041 3,026
Investments on tangible and intangible
assets -45 -36 -147 -116 -149
Divestments of tangible and intangible
assets 3 1 16 15 16
Operating cash flow 697 762 2,069 1,940 2,893
Interest received/paid -42 -18 -106 -81 -128
Interest expense for lease liabilities of real
estate -169 -178 -510 -506 -664
Repayment of lease liabilities -395 -369 -1,143 -1,033 -1,377
Free cash flow 91 197 310 320 724
Acquisition of operations -5 -5 -1,062 -9 -52
Warrants - - 2 2 2
Dividend - - -159 - -
Repurchase of own shares -86 - -240 - -
Repayment of loans -165 -50 -265 -214 -364
New borrowings 175 0 1,175 112 112
Total cash flow 10 142 -239 211 422
Cash and cash equivalents at the beginning
of the period 683 591 922 507 507
Effect of exchange rate changes on cash -2 -7 8 8 -7
Cash and cash equivalents at the end of
the period 691 726 691 726 922
Jan-Dec
Cash flow according to IFRS, SEKm 2024 2023 2024 2023 2023
Cash flow from operations 528 601 1,584 1,454 2,234
Cash flow from investing activities -47 -40 -1,193 -110 -185
Cash flow from financing activities -471 -419 -630 -1,133 -1,627
Total cash flow 10 142 -239 211 422
Q3 Jan-Sep
Q3 Jan-Sep

===== SIDA 19 =====

Attendo | Interim report January - September 2024 19 (31)

Summary of Segments

SEKm Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023
Net sales 2,047 1,737 2,829 2,751 - - 4,875 4,488
Net sales, own operations 1,691 1,337 2,728 2,680 - - 4,418 4,017
Net sales, outsourcing 356 400 101 71 - - 457 471

Lease adjusted operating profit
(EBITA) 146 116 277 249 -21 -19 402 346
Lease adjusted operating margin
(EBITA), % 7.1 6.7 9.8 9.1 - - 8.2 7.7

Operating profit (EBITA) 195 164 361 389 -21 -19 536 534
Operating margin (EBITA), % 9.5 9.4 12.8 14.1 - - 11.0 11.9
Scandinavia Finland Other and eliminations Group
SEKm
Jan-Sep
2024
Jan-Sep
2023
Full-year
2023
Jan-Sep
2024
Jan-Sep
2023
Full-year
2023
Jan-Sep
2024
Jan-Sep
2023
Full-year
2023
Jan-Sep
2024
Jan-Sep
2023
Full-year
2023
Net sales 5,770 5,130 6,829 8,333 7,735 10,458 - - - 14,102 12,865 17,287
- Net sales, own operations 4,735 3,916 5,252 8,059 7,537 10,190 - - - 12,794 11,453 15,442
- Net sales, outsourcing 1,034 1,214 1,577 274 198 268 - - - 1,308 1,412 1,845

Lease adjusted operating profit
(EBITA) 240 213 274 546 453 551 -60 -57 -80 726 609 745
Lease adjusted operating margin
(EBITA), % 4.2 4.2 4.0 6.6 5.9 5.3 - - - 5.1 4.7 4.3

Operating profit (EBITA) 390 359 468 797 757 946 -60 -57 -80 1,127 1,058 1,333
Operating margin (EBITA), % 6.8 7.0 6.9 9.6 9.8 9.0 - - - 8.0 8.2 7.7
Scandinavia Finland GroupOther and eliminations

===== SIDA 20 =====

Attendo | Interim report January - September 2024 20 (31)

Net Financial Items

Net Debt

Investments

Financial Assets and Liabilities

The table shows Attendo's significant financial assets and liabilities. Assets and liabilities reported
as other non-current receivables and trade receivables and other financial liabilities are measured
at amortized cost. The fair value of all financial assets and liabilities is consistent with the carrying
amount. For a complete table and further information see Attendo's annual report 2023, note
C25.
Collateral and Contingent Liabilities

Jan-Dec
SEKm 2024 2023 2024 2023 2023
Net interest expense (excluding lease
liabilities for real estate) -42 -32 -110 -95 -121
Interest expense, lease liabilities for real
estate -169 -178 -510 -506 -664
Other 2 -13 -6 -2 -11
Net financial items -209 -223 -626 -603 -796
Q3 Jan-Sep
31 Dec
SEKm 2024 2023 2023
Interest-bearing liabilities 16,777 15,340 14,748
Provision for post-employment benefits -13 -15 -7
Cash and cash equivalents -691 -726 -922
Net debt 16,073 14,599 13,819
Lease liability real estate -13,705 -13,019 -12,633
Lease adjusted net debt 2,368 1,580 1,186
30 Sep
Jan-Dec
SEKm 2024 2023 2024 2023 2023
Investments
Investments in intangible assets 4 1 7 8 10
Investments in tangible assets 41 35 140 108 139
Divestments of tangible and intangible assets -3 -1 -16 -15 -16
Total net investments 42 35 131 101 133
Intangible assets acquired through business
combination
Goodwill -11 0 722 1 1
Customer relations 24 0 309 4 4
Other - - - - -
Total intangible assets acquired through
business combination 13 0 1,031 5 5
Q3 Jan-Sep
SEKm 30 Sep 2024 30 Sep 2023 31 Dec 2023
ASSETS
Financial assets measured at amortised cost
Other long term assets 63 62 60
Trade receivables 1,708 1,674 1,564
Cash and cash equivalents 691 726 922
Total financial assets 2,462 2,462 2,546

LIABILITIES
Financial liabilities at fair value through profit or
loss or equity
Contingent considerations 33 60 53
Financial liabilities measured at amortised cost
Borrowings 3,008 2,281 2,073
Trade payables 413 461 506
Total financial liabilities 3,454 2,802 2,632
SEKm 30 Sep 2024 30 Sep 2023 31 Dec 2023
Assets pledged as collateral 79 72 74
Contingent liabilities¹ 1,767 2,311 1,712
1) Leases of assets not yet in use are reported in contingent liabilities.

===== SIDA 21 =====

Attendo | Interim report January - September 2024 21 (31)

Acqusition
On 2 April, Attendo completed the acquisition of Team Olivia's Swedish care business, excluding
personal assistance, by acquiring 100 percent of the shares and votes in a newly formed company
containing relevant assets and subsidiaries. Attendo thereby strengthens the position in disabled
care (LSS), individual and family care (IOF) and home care in Sweden.
The acquired business has annual sales of approximately SEK 1,350m and a lease adjusted
operating profit of approximately SEK 130m. The purchase price amounted to SEK 1,037m. See
below preliminary acquisition calculation.

Preliminary PPA

SEKm 2024
Purchase consideration at date of acquisition 1,038
Identifiable acquired assets and liabilities
Cash and cash equivalents 92
Property, plant and equipment 40
Customer relations/customer contract 282
Intangible assets -
Deferred tax assets 3
Trade receivables and other receivables 206
Trade payables and other liabilities -158
Deferred tax liabilities -61
Total identifiable net assets 404
Goodwill 634

===== SIDA 22 =====

Attendo | Interim report January - September 2024 22 (31)

Adjusted Earnings per Share Q3 2024

Adjusted Earnings per Share Q3 2023

SEKm Reported
Acq.and
divestment¹ IFRS 16² Total adj.
Adjusted
earnings
Net sales 4,875 - - - 4,875
Other operating income 8 - 0 0 8
Operating profit before amortization and
depreciation (EBITDA) 1,029 8 -564 -556 473

Amortization and depreciation of tangible
and intangible assets -493 - 430 430 -63
Operating profit (EBITA) 536 8 -134 -126 410

Amortization and write-down of
acquisition related intangible assets -26 26 - 26 -
Operating profit (EBIT) 510 34 -134 -100 410

Net financial items -209 - 169 169 -40
Profit before tax (EBT) 301 34 35 69 370

Income tax -66 -5 -7 -12 -78
Profit for the period 235 29 29 58 293

Profit for the period attributable to:
The parent company shareholders 235 29 29 58 293
Average number of shares outstanding,
diluted, thousands 156,684 156,684 156,684 156,684 156,684
Earnings per share diluted, SEK 1.50 0.19 0.19 0.37 1.87
Profit for the period attributable to the parent company shareholders excluding amortization of acquisition related intangible assets and
items affecting comparability related to divestments (1)and IFRS 16 (2) and related tax effects divided with the average number of shares
outstanding, after dilution.
SEKm Reported
Acq.and
divestment¹ IFRS 16² Total adj.
Adjusted
earnings 3;3
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 0
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
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

===== SIDA 23 =====

Attendo | Interim report January - September 2024 23 (31)

Adjusted Earnings per Share Jan - Sep 2024

Adjusted Earnings per Share Jan - Sep 2023

SEKm Reported
Acq.and
divestment¹ IFRS 16² Total adj.
Adjusted
earnings 3;3
Net sales 14,102 - - - 14,102
Other operating income 29 - -0 -0 29
Operating profit before amortization and
depreciation (EBITDA) 2,567 22 -1,652 -1,630 937

Amortization and depreciation of tangible
and intangible assets -1,440 - 1,251 1,251 -189
Operating profit (EBITA) 1,127 22 -401 -379 748

Amortization and write-down of
acquisition related intangible assets -64 64 - 64 -
Operating profit (EBIT) 1,063 86 -401 -315 748

Net financial items -626 - 510 510 -116
Profit before tax (EBT) 437 86 109 195 632

Income tax -95 -13 -30 -43 -138
Profit for the period 342 73 79 152 494

Profit for the period attributable to:
The parent company shareholders 342 73 79 152 494
Average number of shares outstanding,
diluted, thousands 158,761 158,761 158,761 158,761 158,761
Earnings per share diluted, SEK 2.15 0.46 0.49 0.95 3.11

Profit for the period attributable to the parent company shareholders excluding amortization of acquisition related intangible assets and
items affecting comparability related to divestments (1)and IFRS 16 (2) and related tax effects divided with the average number of shares
outstanding, after dilution.
SEKm Reported
Acq.and
divestment¹ IFRS 16² Total adj.
Adjusted
earnings 3;3
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
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

===== SIDA 24 =====

Attendo | Interim report January - September 2024 24 (31)

Adjusted Earnings per Share Jan - Dec 2023

SEKm Reported
Acq.and
divestment¹ IFRS 16² Total adj.
Adjusted
earnings 3;3
Net sales 17,287 - - - 17,287
Other operating income 40 - -7 -7 33
Operating profit before amortization and
depreciation (EBITDA) 3,045 - -2,047 -2,047 998

Amortization and depreciation of tangible
and intangible assets -1,712 - 1,459 1,459 -253
Operating profit (EBITA) 1,333 - -588 -588 745

Amortization and write-down of
acquisition related intangible assets -59 59 - 59 -
Operating profit (EBIT) 1,274 59 -588 -529 745

Net financial items -796 - 664 664 -132
Profit before tax (EBT) 478 59 76 135 613

Income tax -102 -12 -12 -24 -126
Profit for the period 376 47 64 111 487

Profit for the period attributable to:
The parent company shareholders 376 47 64 111 487
Average number of shares outstanding,
diluted, thousands 161,027 161,027 161,027 161,027 161,027
Earnings per share diluted, SEK 2.33 0.29 0.40 0.69 3.02

===== SIDA 25 =====

Attendo | Interim report January - September 2024 25 (31)

Key Figures

Key Figures per Share

Jan-Dec
2024 2023 2024 2023 2023
Organic growth % 2.2 14.6 4.3 12.5 12.7
Acquired growth % 8.2 - 5.7 1.6 1.2
Change in currencies % -1.8 7.4 -0.4 6.1 5.4

Operating margin (EBITA), R12 % - - 7.6 7.1 7.7
Lease adjusted operating margin
(EBITA), R12 % - - 4.7 3.7 4.3
Working capital SEKm - - -312 -292 -538
Return on capital employed % - - 6.2 5.6 6.4

Net debt to equity ratio times - - 3.0 2.7 2.6
Equity to asset ratio % - - 21 23 23
Net debt/EBITDA R12 times - - 4.9 5.1 4.5
Lease adjusted net debt /
Lease adjusted EBITDA R12 times - - 2.1 1.8 1.2
Free cash flow SEKm 91 197 310 320 724
Net investments SEKm -42 -35 -131 -101 -133

Average number of employees 24,461 22,236 23,173 21,643 21,511
Q3 Jan-Sep
jan-dec
2024 2023 2024 2023 2023
Earnings per share,
basic SEK 1.50 1.43 2.16 1.98 2.33
Earnigns per share,
diluted SEK 1.50 1.43 2.15 1.97 2.33
Adjusted earnings per share,
diluted SEK 1.87 1.45 3.11 2.48 3.02
Equity per share,
basic SEK - - 33.64 33.32 33.32
Equity per share,
diluted SEK - - 33.57 33.31 33.31

Average number of shares
outstanding, basic thousands 156,311 160,933 158,419 160,933 160,933
Average number of shares
outstanding, diluted thousands 156,684 160,955 158,761 160,956 161,027
Number of shares,
end of period thousands 160,103 161,387 160,103 161,387 161,387
Number of treasury shares,
end of period thousands 4,678 454 4,678 454 454
Number of shares outstanding,
end of period thousands 155,425 160,933 155,425 160,933 160,933
Q3 jan-sep

===== SIDA 26 =====

Attendo | Interim report January - September 2024 26 (31)

Quarterly Data

SEKm Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 24 Q3 24
Total net sales 3,789 4,044 4,333 4,488 4,422 4,386 4,841 4,875
- Net sales, Scandinavia 1,691 1,692 1,701 1,737 1,699 1,672 2,051 2,047
- Net sales, Finland 2,098 2,352 2,632 2,751 2,723 2,714 2,790 2,829

Lease adjusted operating profit (EBITDA) 66 177 209 416 196 221 228 465
Lease adjusted operating profit (EBITA) 8 116 147 346 136 161 163 402
Lease adjusted operating margin (EBITA), % 0.2 2.9 3.4 7.7 3.1 3.7 3.4 8.2

Operating profit (EBITDA) 513 665 720 963 697 748 790 1,029
Operating profit (EBITA) 131 241 283 534 275 292 299 536
Operating margin (EBITA), % 3.5 6.0 6.5 11.9 6.2 6.7 6.2 11.0
Profit for the period -44 28 60 230 58 63 44 235
Profit margin, % -1.2 0.7 1.4 5.1 1.3 1.4 0.9 4.8

Earnings per share basic, SEK -0.27 0.17 0.37 1.43 0.36 0.39 0.28 1.50
Earnings per share diluted, SEK -0.27 0.17 0.37 1.43 0.36 0.39 0.28 1.50

Adjusted earnings per share diluted, SEK -0.07 0.43 0.60 1.45 0.54 0.58 0.68 1.87

Average number of employees 20,403 20,699 21,994 22,236 21,116 21,563 23,494 24,461

Operational data
Number of units in operation¹ 705 712 710 704 685 677 781 782
Number of beds in homes² 20,932 20,923 20,870 20,863 20,575 20,506 21,326 21,225
Occupancy in homes, %² 85 86 86 86 86 86 86 86
Number of opened beds³ - 58 86 12 - - 147 127
Number of beds, construction start in the quarter³ 101 58 15 118 219 - 164 12
Number of beds under construction³ 325 325 252 352 571 571 576 461
1) All units in all contract models and segments.
2) All homes.
3) Own homes.

===== SIDA 27 =====

Attendo | Interim report January - September 2024 27 (31)

Moderbolagets Parent Company Income Statement

Parent Company Balance Sheet

Jan-Dec
SEKm 2024 2023 2024 2023 2023
Net sales 5 4 14 13 19

Personnel costs -9 -9 -29 -29 -37
Other external costs -3 -2 -9 -8 -12
Operating profit -7 -7 -24 -24 -30

Net financial items -4 0 -5 0 0
Profit after financial items -11 -7 -29 -24 -30

Group contributions - - - - -167
Profit before tax -11 -7 -29 -24 -197

Results of commission 82 93 147 184 181
Income tax -16 -19 -27 -35 -12
Profit for the period 55 67 91 125 -28
Q3 Jan-Sep

SEKm 30 Sep 2024 30 Sep 2023 31 Dec 2023
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 103 265 188
Other receivables 4 19 20
Cash and cash equivalents 15 0 0
Total current assets 122 284 208
Total assets 6,616 6,778 6,702

EQUITY AND LIABILITIES
Equity 6,289 6,749 6,597

Current liabilities
Liabilities to group companies 302 15 94
Other liabilities 25 14 11
Total current liabilities 327 29 105
TOTAL EQUITY AND LIABILITIES 6,616 6,778 6,702

===== SIDA 28 =====

Attendo | Interim report January - September 2024 28 (31)

About Attendo
Attendo was founded in 1985 and is the
largest care company in the Nordic
region. We have about 34,000
employees at around 800 operations in
in Finland, Sweden and Denmark. All
our operations are based on our vision -
to provide better care to more people.
Attendo invests in new capacity and
leads the development of quality,
innovations and new, cost-effective
ways of working in Nordic care.
We provide care for older people, care
for people with disabilities, and
individual and family care to about
30,000 customers. Our mission is to
empower the individual, which means
that we see, support and strengthen
every person. Our values - care,
commitment and competence - guide
us in every action, every day.
Our service offering consists of:
• Care for older people
Nursing homes for older people with dementia
or somatic needs and home care services, which
usually involve a comprehensive approach to
care, meals, cleaning, laundry, evening and
night-time services and home health care.
• Disabled care
Housing and daily activities for people of
different ages and with different disabilities or
care needs. We also offer respite care for
relatives through short-term accommodation, as
well as respite care and accompanying services.
• Individual and family care
We offer individual and family care in
consultant-supported family homes, crisis and
emergency accommodation, HVB homes,
addiction care and supported housing. The
segment also provides social psychiatry and
rehabilitation as well as other individualized
care in housing or day and school activities.
• Other services
Attendo provides meal services and conducts
recruitment of care staff.
Attendo operates through two business areas,
Attendo Finland and Attendo Scandinavia.
Attendo mainly have activities under own
operations, where we provide care in
units/facilities under our own control, or home
care under customer choice systems. We also
provide outsourced activities, where units/
facilities are controlled by the public payor, or
home care services on a contractual basis.
Attendo's payors are usually a local or regional
public provider (municipality or welfare region)
or a national authority, but the contract form
and contract length vary depending on the
contract model and service offering. Our own
operations are normally based on freedom of
choice systems or framework agreements while
outsourcing operations are based on tendered
outsourcing contracts. The contracts usually run
for a period of 2-5 years.

===== SIDA 29 =====

Attendo | Interim report January - September 2024 29 (31)

Definitions of performance measures and
alternative performance measures (APM)
Financial
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 the 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 related to
divestments and related tax items divided by the
number of outstanding shares after dilution. See
tables Adjusted earnings per share for more
information.
Capital employed
Equity plus interest-bearing liabilities and
provisions for post-employment benefits. See
Note C33 Reconciliation of alternative
performance measures in the 2023 Annual
Report for a full year reconciliation.
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 the
average number of outstanding shares.
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 the average number of
outstanding shares. 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 table
Consolidated cash flow for reconciliation and
Note C33 Reconciliation of alternative key figure
calculations in the Annual Report 2023 for
reconciliation on a full year basis.
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 tables 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 tables 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 tables Net debt 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 debts
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 tables Net debt in this report for a
reconciliation of net debt.
Net debt / EBITDA
(APM)
Net debt in relation to operating profit (EBITDA)
R12.
Net debt to equity ratio
(APM)
Net debt divided by equity.

===== SIDA 30 =====

Attendo | Interim report January - September 2024 30 (31)

Net investments
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 or loss (EBITA) divided by net
sales.
Operating margin (EBITDA margin)
Operating profit or loss (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, financial items and tax. 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 for the period attributable to the parent
company shareholders and non-controlling
interests.
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 C33 Reconciliations of
alternative key figure calculations in the annual
report 2023 for reconciliation 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 C33
Reconciliations of Alternative Performance
Measures in the Annual Report 2023 for a full-
year reconciliation.

Operational
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.

Sustainability
ASCOT (quality of life interviews)
A research-validated Adult Social Care Outcomes
Toolkit (ASCOT) methodology designed to
measure key aspects of an individual's quality of
life in a social care environment.
Beds opened in own operations
(capacity made available), R12
Refers to beds in residential homes in own
operations opened in the past twelve months.
Customer satisfaction cNPS
Percentage of customers that answer 9 or 10 (0-
10) when asked to recommend Attendo minus
the percentage that answer 6 or lower. Based
on the most recently completed measurements
in each business area.
Employee satisfaction eNPS
Percentage of employees that answer 9 or 10
(0-10) when asked to recommend Attendo
minus the percentage that answer 6 or lower.
Based on the most recently
completed measurements in each
business area.
Number of customers who receive
care from Attendo
Refers to beds sold in homes, daily activities,
rehabilitation, family care home placements and
home care services customers by the end of the
quarter.
Payor satisfaction (pSAT)
Payor satisfaction with Attendo's services on a
five-point scale from very dissatisfied (1) to very
satisfied (5). Based on the most recent surveys
in Attendo Scandinavia.
RAI index
Measured quality of life based on reported RAI
indicators in Attendo Finland. Based on the most
recent surveys.
Relatives satisfaction rNPS
Percentage of relatives of customers that
answer 9 or 10 (0–10) when asked to
recommend Attendo minus the percentage that
answer 6 or lower. Based on the most recently
completed measurements in each business area.

===== SIDA 31 =====

Information for shareholders and analysts
Financial calendar
Year-end report full year 2024 6 February 2025
Interim report January-March 2025 7 May 2025
Interim report January-June 2025 18 July 2025
Interim report January-September 2025 24 October 2025
Report presentation
A webcast presentation will be held on 24 October at 10:00 (CET).
You can follow the presentation at the following web link:
https://ir.financialhearings.com/attendo-q3-report-2024
Analysts and investors can ask questions during the presentation by calling in. Contact
details can be obtained by emailing: kommunikation@attendo.se
The report and other information will be made available at:
https://www.attendo.com/

Contact details
Mikael Malmgren, Chief Financial Officer
Tel. +46 8 586 252 00
Stefan Svanström, Head of Community Communications
Tel. +46 70 867 38 07

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, at 08.00 CET on 24 October 2024.
Forward-looking information
This report contains forward-looking information that reflects management's current beliefs
about certain future conditions and possible outcomes. This type of forward-looking
information involves risks and uncertainties that could materially affect future results. The
information is based on certain assumptions including those relating to economic conditions
in general in the company's markets and the level of demand for the company's services.

English convenience translation from Swedish original. In case of discrepancies between the
Swedish original and the English translation, the Swedish original shall prevail.

Attendo AB (publ), Box 715, 182 27 Danderyd, org. nr 559026-7885