Terveystalo Oyj

Terveystalo's Interim Report for January–September 2024 highlights strong earnings growth and improved profitability. Revenue for the third quarter increased by 5% to EUR 296 million, with adjusted EBITA rising by over 62% to EUR 34 million. Earnings per share quadrupled to EUR 0.12. The Healthcare services segment showed a 11% revenue growth, reaching EUR 232 million, driven by a strong supply, improved sales mix, and a strong flu season. Despite a 10% revenue drop, Portfolio businesses saw a 70% increase in adjusted EBITA to EUR 3 million. The Swedish business faced a 10% revenue decline due to expired contracts and weakened demand. Terveystalo expects its full-year 2024 revenue to grow, with adjusted EBITA projected to be 12.0–12.5% of revenue. The company has adjusted its cost structure and aims for a profitability turnaround in Sweden by 2025. Terveystalo will discuss its future strategy at the December Capital Markets Day. The company remains focused on profitable growth and high medical quality.

Terveystalo Plc announced the composition of its Shareholders' Nomination Board, which includes representatives from the four largest shareholders as of 2 September 2024 and the Chairman of the Board of Directors. The members are Risto Murto (Varma Mutual Pension Insurance Company), Tomas von Rettig (Rettig Group AB), Timo Ritakallio (Pohjola Insurance Ltd and OP Life Assurance Company Ltd), and Kari Kauniskangas (Chairman of the Board of Directors of Terveystalo Plc). Risto Murto was elected as Chairman of the Nomination Board during its organizing meeting on 27 September 2024. The Nomination Board is responsible for searching, preparing, and presenting member candidates for the Board of Directors and handling matters related to board remuneration. Proposals for the Annual General Meeting will be forwarded to Terveystalo's Board of Directors by 1 February 2025. Further details are available on Terveystalo's website. Terveystalo is the largest private healthcare service provider in Finland and a leading occupational health provider in the Nordic region, offering a wide range of healthcare services through its digital platform and numerous clinics in Finland and Sweden. The company is listed on the Helsinki Stock Exchange and employs over 15,500 professionals.

Terveystalo Plc announced that Petri Bono, Chief Medical Officer and Executive Team member since 2019, will leave the company on 14 August 2024 for a new position outside the company. Ville Iho, President and CEO, praised Bono's leadership during his tenure, particularly during the coronavirus pandemic, and highlighted the company's shift towards customer-oriented development and integrated treatment paths. Bono expressed pride in the advancements made in medical quality and healthcare modernization at Terveystalo. The responsibilities of the Chief Medical Officer will be temporarily distributed among the company's medical management. Terveystalo Plc is the largest private healthcare service provider in Finland and a leading occupational health provider in the Nordic region, with extensive digital and clinic-based services.

Terveystalo's Half-Year Report for 2024 highlights a strong second quarter with record revenue and profitability. Revenue increased by 6% to EUR 340 million, and adjusted EBITA rose by nearly 50% to EUR 43 million. Earnings per share grew by 91% to EUR 0.11. The Healthcare Services segment saw an 11% increase in revenue to EUR 261 million, boosting the adjusted EBITA by 67%. The Portfolio businesses segment's adjusted EBITA also improved by 52% despite a 9% revenue decline. In Sweden, revenue decreased by 10% to EUR 22 million due to expired contracts and weakened demand. Terveystalo has raised its 2024 guidance, expecting full-year revenue growth and an adjusted EBITA margin of 11.5–12.5%. The profit improvement program has exceeded expectations, significantly enhancing profitability. The company plans a webcast and conference call on 17 July 2024 to discuss the results.

Terveystalo Plc announced on 11 July 2024 that its profit improvement program has progressed faster than expected, leading to an upward revision of its profitability guidance for 2024, while revenue guidance remains unchanged. President and CEO Ville Iho credited the company's employees for their role in achieving these results. The new guidance expects full-year 2024 revenue to grow from EUR 1,286 million in 2023, with adjusted EBITA projected to be 11.5–12.5% of revenue, up from the previous guidance of 10.5–11.5%. Preliminary data for Q2 2024 shows revenue of approximately EUR 340 million and adjusted EBITA of around EUR 42 million, or 12.5% of revenue. The estimates consider inflation, consumer demand, employment, and normal morbidity but exclude significant acquisitions or divestments. The Sweden segment's revenue is expected to decline due to macroeconomic factors, and the VAT increase in Finland is not expected to significantly impact results. Terveystalo will release its half-year financial report on 17 July 2024.