Pihlajalinna Oyj

Pihlajalinna Plc announced a change in its management team, appointing Seppo Kariniemi as the Chief Operating Officer of Public Services. Kariniemi, who has been in the role since May 2024, will continue as Managing Director of Pihlajalinna’s joint companies, Kuusiolinna Terveys, Jämsän Terveys, and Jokilaakson Terveys. CEO Tuomas Hyyryläinen expressed confidence in Kariniemi's ability to enhance partnerships with Wellbeing Services Counties. Pihlajalinna is a leading provider of private healthcare and social services in Finland, employing approximately 7,000 people and generating 720 million euros in revenue in 2023. Its shares are listed on Nasdaq Helsinki.

Pihlajalinna Plc's interim report for the period from January to September 2024 highlights solid organic growth and improved profitability. The company, a leading provider of private healthcare and social services in Finland, reported an 8.9% increase in comparable revenue growth and an improvement in profitability across both its Private Healthcare and Public Services segments. The adjusted EBITA rose to EUR 13.5 million with a margin of 8.2%. The report notes successful business developments, particularly in occupational healthcare and insurance collaborations, as well as favorable employee and customer satisfaction metrics. Pihlajalinna aims to maintain steady demand despite potential economic challenges and is focused on achieving a long-term profitability goal of a 9% adjusted EBITA margin. The company will host a webcast for analysts, investors, and media to discuss the results further.

Pihlajalinna Plc has issued a positive profit warning, upgrading its profitability guidance for 2024. The company expects its adjusted EBITA to increase to EUR 53–56 million, up from EUR 37.8 million in 2023, while maintaining its revenue outlook. The focus for 2024 will be on organic growth and improving profitability, although slowed economic growth and weakened consumer confidence could impact service demand and financial results. Preliminary data for the third quarter of 2024 shows revenue at EUR 164.0 million and adjusted EBITA at EUR 13.5 million, compared to EUR 165.6 million and EUR 9.6 million, respectively, in the third quarter of 2023. Pihlajalinna, a leading provider of private healthcare and social services in Finland, will release its interim report for January–September 2024 on November 7, 2024.

Pihlajalinna Plc has announced that the Wellbeing Services County of Pirkanmaa has decided to terminate its complete outsourcing agreement with Pihlajalinna's subsidiary, Kolmostien Terveys, by the end of 2025. The regional board has requested the development of three alternative models for renewing the service production in the North Pirkanmaa region, which covers social and healthcare services for several areas including Virrat and Ruovesi. These alternatives will be reviewed in December. Pihlajalinna is a major provider of private healthcare and social services in Finland, employing around 7,000 people, and is listed on Nasdaq Helsinki.

Pihlajalinna Plc announced that it will publish its Interim Report for the period of January 1 to September 30, 2024, on November 7, 2024, at around 8:00 a.m. The report will be available on the company's website. A live webcast for analysts, investors, and media will be held on the same day at 10:00 a.m., featuring CEO Tuomas Hyyryläinen, CFO Tarja Rantala, and Chief Communications and Sustainability Officer Tuula Lehto. The event will be conducted in Finnish and can be attended in person at Sanomatalo in Helsinki, with prior registration required by November 1, 2024. A recording will be available online after the event. Pihlajalinna is a leading private healthcare and social services provider in Finland, employing around 7,000 people and 2,200 practitioners, with a 2023 revenue of 720 million euros. Its shares are listed on Nasdaq Helsinki.