Attendo (ATT) CMD 2026 summary

Strategic direction and market positioning

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

• Maintains leadership in Nordic social care markets, emphasizing public-private partnerships and adapting to demographic shifts and rising care needs.

• Projects continued market growth at 4-5% annually, driven by aging populations, labor market dynamics, and public finance constraints, with private providers as key partners.

• Holds top positions in nursing homes, home care, and disabled care segments in Finland and Scandinavia, leveraging a decentralized, tax-funded market structure.

• Political and regulatory environments in Sweden and Finland are stable, with local needs overriding national cycles, supporting long-term operational stability.

Operational excellence and innovation

• The Attendo Way operating model integrates culture, leadership, technology, and KPIs, adapted to local market dynamics to ensure quality and efficiency.

• Digitalization and AI, including speech-to-text documentation, are being rolled out to reduce administrative burden, improve care quality, and enhance employee satisfaction.

• Implements advanced quality frameworks, individualized care planning, and digital engagement tools like the Nära app to improve outcomes and satisfaction.

• Develops specialized care concepts and purpose-built facilities, such as lifestyle nursing homes and dementia care methodologies, to differentiate offerings.

• 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 targets, with adjusted EPS rising from less than SEK 1 in 2022 to SEK 6 in 2024.

• New financial target set for 2028: adjusted EPS of at least SEK 9, representing at least 50% growth from 2026.

• Targets annual EBITDA/EBITA growth of at least 10%, driven by new capacity, margin-accretive acquisitions, higher occupancy, and productivity gains.

• Maintains disciplined capital allocation with recurring cash conversion, share buy-backs (targeting 5% of shares p.a.), and a dividend payout of 30%, while managing leverage within a 1.5-2.5x net debt/EBITDA range.

• Asset-light model with high free cash flow conversion supports investments in new capacity, M&A, and recurring share buybacks, while maintaining leverage and dividend policy.