Attendo (ATT) Q2 2026 earnings summary

Executive summary

• Delivered strong profitability improvements in both business areas, driven by higher occupancy, operational efficiency, and quality initiatives, with all growth levers performing at or above plan.

• Customer and employee satisfaction reached record highs, supporting the sustainability of the operating model and long-term growth.

• Strategic focus on margin improvement, balanced growth, and active capital allocation, including share buybacks and capacity expansion.

• Two strategic acquisitions signed or completed, supporting expansion and quality improvement.

Financial highlights

• Net sales for Q2 were SEK 4,744 million, up 1.3% year-over-year; underlying growth in continuing operations was 4.9% excluding ended contracts, divestments, and FX.

• Lease-adjusted EBITA increased by 57% to SEK 321 million; margin improved to 6.8% (from 4.4%).

• Adjusted EPS rose 79% to SEK 1.52 for the quarter; rolling 12-month adjusted EPS reached SEK 7.14.

• Free cash flow for Q2 was SEK 269 million; rolling 12-month free cash flow to equity reached SEK 1,016 million.

• Leverage reduced to 1.1x from 1.7x year-over-year.

Outlook and guidance

• Targeting adjusted EPS of at least SEK 9 per share by 2028, a 50% increase from 2025, driven by margin restoration, profitable growth, and active capital allocation.

• Expecting gradual return to net sales growth in H2 2026 as contract transitions and currency effects subside.

• Margin uplift in Scandinavia expected to continue through 2026 and into 2027.

• Annual EBITA growth expected to exceed 10%, supported by organic growth, M&A, and share buybacks.

• Ongoing investments in new capacity aligned with balanced growth strategy, aiming for sustainable margin levels.