Dentalum publicerar kvartalsrapport för jan-mars 2023
First quarter (January – March 2023)
- Reported net revenue in the first quarter reached SEK 119.2 million (84.4).
- The increase in quarterly revenue compared to the same quarter prior year, was mainly driven by acquisitions of eleven dental clinics, acquired since the same quarter 2022, of which one was completed in the first quarter of, 2023.
- Consolidated EBITDA, adj. for IFRS adjustments of 4.5 million, reached SEK 22.4 million (21.1) of which SEK 28.0 million (26.7) was generated in the dental clinics and SEK -10.1 million (-5.6) of net expenses in the Parent company, Dentalum Operations AB (publ).
- Consolidated operating profit margin, adjusted EBITDA as a percentage of total revenue, for the first quarter decreased to 18.5% (24.6%). Excluding the Parent company expenses, the adj. EBITDA margin in Q1 was 26.9% (24.6%).
- Net financial items amounted to SEK 4.5 million (-8.6), including revaluation of contingent purchase price considerations of SEK 13.3 million (-) and interest expense of SEK -8.8 million (-8.6).
- Group net earnings amounted to SEK 13.4 million (3.3).
- Cash flows from operations, including Parent company, amounted to SEK 9.9 million (4.0).
- Net cash flow after investing and financing activities, was SEK -12.8 million (-25.3).
- As per March 31, 2023, total equity amounted to SEK 226.6 million (257.1), cash balance of SEK 103.6 million (245.3) and interest-bearing debt of SEK 398.8 million (397.7), consisting of bond debt of SEK 400 million, adjusted for amortized financing costs.
- Cash flows from operations amounted to SEK 58.7 million (37.2).
- Consolidated Net cash flow after investing, financing activities and capital contributions, was SEK -154.1 million (89.2). The net cash flow in the same period 2021 includes shareholder´s contribution of SEK 155 million injected in Dentalum Operations and net proceeds from a bond tap issue of 100 million.
Significant events
During the first quarter
- On February 28, 2023, the acquisition of ABCARE AB in Region of Skåne was completed.
- Expansion projects have been initiated in Stockholm and Linköping, involving the relocation of two clinics to new premises. This will result in an increase in the size and capacity of the clinics through the addition of treatment rooms.
After the period
- After the period, Dentalum Group AB announced a rights issue to strengthen the capital structure in Dentalum Operations AB (publ) as a mean to refinance the bond, maturing in October 2023, and to enable further organic growth while selectively exploring inorganic growth prospects.
- Credit approval from a tier one bank for refinancing of outstanding bonds, amounting to SEK 400 million. The credit approval is subject to strengthening the capital structure, reducing leverage as per above.
For more information, please contact:
Max Dorthé Ladow, CEO and co-founder, +46 709 85 97 83, max.ladow@dentalum.com
Sofi Eriksson, Acting CFO and Executive Advisor, +46 705 95 46 33, sofi.eriksson@dentalum.com
Visit: www.dentalum.com
Dentalum Operations AB (publ) är en snabbväxande tandvårdskedja med fokus på att förvärva lönsamma och hållbara tandvårdskliniker i Norden. Dentalums filosofi bygger på lokal förankring där klinikägarna får fortsätta vara entreprenörer och driva verksamheterna med hög självständighetsgrad även efter genomfört förvärv. Dentalum har som mål att bygga en organisation i världsklass och är övertygade om att rätt arbetsmiljö, utvecklingsmöjligheter och företagskultur skapar ett motiverande och engagerande arbetsklimat som leder till den högsta kvalitet av vård och en enastående service till våra patienter.
Ladda ner kvartalsrapport i pdf
