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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Terveystalo
Terveystalo (TTALO) investor relations material
Terveystalo Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary21 Oct, 2026
Executive summary
Weak demand and lower volumes cut Q3 revenue and profitability; efficiency and cost actions did not offset the decline.
Hohde expanded oral health, while FY 2026 adjusted EBIT guidance was reduced to €110–120M.
ARC priorities include customer-centric, technology-enabled care, growth and diversification, Wellby digital care, and reinventing occupational health.
Financial highlights
Q3 revenue fell 6.2% YoY to €262.9M; adjusted EBIT declined 33.6% to €17.8M, with a 6.8% margin, and reported EBIT was €13.7M.
Q3 adjusted EBITA was €23.6M, down 27.0%; adjustment items totaled €4.1M.
Q3 net income was €5.5M versus €16.2M; adjusted EPS was €0.08 versus €0.14.
9M revenue declined 8.9% to €864.4M; adjusted EBIT fell 30.3% to €77.6M and reported EBIT 39.6% to €63.5M.
Q3 operating cash flow was €27.3M versus €54.5M; 9M operating cash flow was €63.1M versus €122.4M.
Outlook and guidance
FY 2026 adjusted EBIT guidance was lowered from €120–140M to €110–120M; 2025 adjusted EBIT was €156.3M.
Q4 assumes continued challenging demand and no material market improvement; Portfolio Businesses outsourcing revenue is expected to decline ~€25M due to expiring contracts. Guidance includes Hohde from 4 September and excludes Silmäasema and other significant transactions.
Occupational healthcare end users and connected employees are expected to return gradually to growth in Q1 2027.
Medium-term targets include 10% average annual adjusted EPS growth, net debt / adjusted EBITDA of no more than 3.0x, and annual distribution of at least 50% of net result.
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Latest events from Terveystalo
- Targeted growth and digitalization continue, but 2026 EBIT is guided lower amid market headwinds.TTALO
Investor presentation - Digital innovation and demographic trends drive growth and profitability in private healthcare.TTALOJefferies London Healthcare Conference 2025 presentation
- Revenue and profit fell amid weak demand, but acquisitions and cost actions support future growth.TTALOQ2 2026
- Acquisition forms a leading European outpatient care platform with strong synergies and EPS growth.TTALOM&A announcement
- €574 million deal forms Finland’s top eye health group, targeting €11–15M annual synergies.TTALOM&A announcement
- Record profitability enables digital-driven growth and ambitious financial targets across business areas.TTALOCMD 2024
- Record Q3 earnings and margin gains set the stage for a new growth-focused phase.TTALOQ3 2024
- Record Q2 with 5.5% revenue growth, 49.1% EBITA increase, and raised 2024 margin guidance.TTALOQ2 2024
- Strong growth and profitability in 2024, with improved margins and positive 2025 outlook.TTALOQ4 2024
Next Terveystalo earnings date
Q4 202612 Feb, 2027
Terveystalo
Next Terveystalo earnings date
Q4 202612 Feb, 2027
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Frequently asked questions
Terveystalo provides occupational healthcare services in Finland. It offers services through a network of approximately 70 healthcare centers and approximately 40 mobile clinics, as well as its online service. It also provides specialist medical care and dental care; laboratory, imaging, and cardiology services; and rehabilitation, physiotherapy, and occupational health services. In addition, the company offers Pihlajalinna-brand primary care services in various locations of Finland.