Attendo (ATT) CMD 2026 summary

Strategic direction and market positioning

• Focuses on delivering high-quality, cost-efficient care in the Nordics, primarily Finland and Sweden, with a high share of own-operated units and reduced operational complexity.

• Shifted from aggressive expansion to a balanced, asset-light growth model emphasizing organic growth, selective bolt-on acquisitions, and margin improvement.

• Maintains leadership in Nordic social care markets, holding top positions in nursing homes, home care, and disabled care segments, and leveraging public-private partnerships to address demographic shifts and rising care needs.

• Exited Norway and non-core segments in Denmark to concentrate on stable markets with strong demand.

• Projects continued market growth of 4-5% annually, driven by aging populations, labor market dynamics, and public finance constraints, with private providers playing a key role.

Operational excellence and innovation

• Developed the "Attendo Way" operating model, focusing on strong leadership, employee satisfaction, continuous competency development, and innovation in care delivery, adapted to local market dynamics.

• Introduced digital tools, AI, and mobile-first systems, including speech-to-text documentation pilots, to reduce administrative burden and improve care quality.

• Launched holistic quality frameworks measuring compliance, quality of life, and health outcomes, leveraging RAI assessments and proprietary metrics.

• Specialized in purpose-built facilities and tailored services for complex needs, developing concepts like lifestyle nursing homes and dementia care methodologies.

• Prioritizes employee engagement, leadership development, and a flat organizational structure to foster accountability and continuous improvement.

Financial performance and targets

• Achieved 12 consecutive quarters of adjusted EPS growth, surpassing previous financial targets ahead of schedule.

• Updated financial targets for 2026–2028: aim for at least SEK 9 adjusted EPS by 2028, representing at least 50% growth from 2026, and annual EBITA growth of over 10%.

• Growth model based on margin recovery in Scandinavia, organic capacity expansion, bolt-on acquisitions, higher occupancy, and operational efficiency.

• Maintains an asset-light model with high free cash flow conversion, supporting investments in new capacity, M&A, and continued share buybacks, targeting 5% of shares per annum.

• Dividend policy remains at 30% of adjusted net profit, with leverage target of 1.5x–2.5x adjusted net debt/EBITDA and flexibility for acquisitions.