Humana AB (publ)

Good morning, and welcome to Humana's Q1 presentation. With me today, I have our CEO, Nathalie Bolas-Nilsson, and our CFO, Christopher Heroux. They will walk you through Humana's development in the first quarter, and after that, we open up for questions. If you wish to ask questions, press pound key five. And with that, I leave the word to Nathalie. Please go ahead.

Thank you. We will give you a short introduction, followed by financials and operational performance. We will then wrap it up with concluding remarks and open up for questions. Humana is a Nordic care provider with a high degree of specialized care. We have a well diversified portfolio of services in the Nordic countries, with Sweden being the largest market, followed by Norway and then Finland. As regards our Q1 highlights, we are expecting executing on our plan to reach our financial targets. And we have in Q1 seen that the efficiency program that to a large extent targets the Swedish market, as well as the new sales and marketing organizations are beginning to show on the margin, both through lower costs and through an increase in occupancy during the quarter. The adult and the elderly care segments in Sweden have an improved occupancy and even the child and youth segments experience an increase in the later part of the quarter. We completed the acquisition of Familjehjälpgruppen in Norway with a yearly turnover of 120 million NOK on 1 February. We continued with bolt-on acquisitions in our targeted areas with the acquisition of Homsan in Sweden with LSS units in the Stockholm area and a yearly revenue of 63 million SEK. We have during the quarter, as mentioned already in our previous call, signed an elderly care home in Sollentuna with 100 placements. And we have also during the quarter signed lease contracts for four new LSS group homes. The new contracts will add approximately 140 million SEK in yearly revenues. We're also very proud to have been recognized for the fourth time as the most sustainable brand within the care and healthcare sector in Sweden. And we have during the period continued with buybacks of our own shares amounting to 37 million SEK. On the topic of executing on our strategic agenda and activities to reach our financial targets, we have during the quarter opened a few new units within primarily disability. This is one example of a highly specialized LSS group home with four places for customers with complex behavioral problems and comorbidity. It is designed with several exits, special features and smaller common areas in order to keep the staff safe and reduce friction between clients. The unit has a high staffing ratio and the staff has a high competence level. We opened the new unit less than two months ago, and with our new sales effort, it is already full.

The development in revenues show a year-over-year net decrease of 450 million SEK. The primary reason for the decrease is that we have divested the Finnish elderly care segment, headwind regarding currency exchange rates and also decreased number of customers within personal assistance. Also during this quarter, we have been active in continuing to build our pipeline to secure organic growth going forward. Going over to the EBIT development, the adjusted EBIT in the quarter is at the same level as last year with 108 million SEK. The segments also improved underlying profitability, but temporary costs had an impact on the quarter amounting to 7 million SEK. The bridge comparing the current LTM EBIT to last year consists of calendar effects, the divested Finnish elderly care, as well as currency exchange effects. Except from that, the underlying LTM EBIT remains flat. We have been active in our capital allocation during the last 12 months and this has continued in the current quarter as well. We have used our free cash flow to an acquisition dividend as well as to share buybacks. The share buybacks amounted to 37 million SEK in the quarter and 135 million SEK the last 12 months. At quarter end, we have shares in treasury corresponding to 8.3% of the total number of shares.