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Attendo: Attendo first quarter report 2016:  Demand for own operations and high quality gave stable growth and margins

Attendo is showing stable growth and profits for the first quarter
2016, driven primarily by strong demand for own operations. The
margin was in line with last year, despite unfavourable seasonal
effect. Progress in Attendo's quality work contributed to important
contract wins during the quarter.

Comments by Henrik Borelius, CEO:
"The quarter shows stable growth and profits due to continued strong
development in own operations. The margin was in line with the same
quarter last year, despite the negative seasonal effect and the
start-up of several new units. During the quarter Attendo won two
major outsourcing contracts based on high quality. Reporting on the
shortage of nursing homes for older people continues and the interest
from local authorities to expand the capacity is high. To meet this
interest Attendo continues to invest in new own operations.

Own operations show strong organic growth, particularly in care for
older people. The increase is mainly attributable to new own homes
and improved occupancy in units that were under start-up during the
corresponding quarter last year. Our structured work with improved
processes and planning is reflected in the results also for this
quarter. We have a strong offering in home care and as an example we
were entrusted with the responsibility to take over the client base
in parts of the Stockholm area from another private provider. In line
with our strategy, we continue to invest to address the shortage of
capacity, particularly within care for older people. We opened four
own homes in the quarter, one in Sweden and three in Finland. In
addition, we started construction of four new units in Finland and at
the end of the quarter we had 737 beds under construction.

In Outsourcing operations net sales declined compared to the first
quarter 2015 due to ended contracts that were lost during last year.
There were relatively few new contracts on the market during the
first quarter of this year. There were a handful of quality tenders
of which two were larger contracts. Attendo won both, which was very
positive; one nursing home as well as an extension of an existing
operation for care for people with disabilities.

Net sales in Staffing operations increased during the quarter compared
to the same quarter last year. However, our earlier assessment that
both outsourcing and staffing will continue to be challenging markets

As presented in the company's Quality report for 2015 all Attendo
service offerings show good progress and the highest results ever in
our internal quality thermometer were noted. As a pioneer in quality
work, Attendo published our first Quality report in 2011. A lot has
happened in the industry since then and it is satisfying to see that
quality today is an important factor in public procurements.

The demand for our own operations offering has been strong in both
Sweden and Finland during the quarter. In Finland, the work with the
SOTE reform continues. In February the Finnish Government announced
its intention to present a proposal to temporarily restrict the local
authorities' opportunities to enter into so-called combination
contracts, where the contracts are assumed to interfere with the
implementation of the reform. Subsequently, the reform proposals have
had a clear focus on supporting an increased element of private

Attendo has a positive view on the SOTE reform, especially from the
perspective that public and private providers will have more equal
terms and that it contributes to greater freedom of choice for more

The first quarter is characterized by strong development in own
operations. Our market position is strong and we believe that the
prospects are good for continued positive development."

Summary of the first quarter 2016
· Net sales increased by 3 percent to SEK 2,472m (2,391). Adjusted
for currency effects net sales increased by 4 percent. Adjusted for
currency effects and deconsolidation of subsidiaryTerveyden Tuottajat
Oy (TT) net sales increased by 7 percent.

· Operating profit (EBITA) increased by 5 percent to SEK 197m (187),
representing an operating margin of 8.0 percent (7.8).

Profit for the period amounted to SEK 128m (57), which represents a
profit margin of 5 percent (2) and earnings per share after dilution
of SEK 0.80 (0.36).

· Operating cash flow amounted to SEK 143m (57).

Invitation to teleconference
The report will be presented at a teleconference call on 12 May 2016
at 10.00am CET. The conference is hosted by Attendo CEO Henrik
Borelius and CFO Tomas Björksiöö. The presentation will be held in

To participate, please call in on one of the following numbers at
least 10 minutes before the conference is scheduled to start:

SE: +46 8 566 426 62

FI: +358 9 817 104 91

UK: +44 203 008 98 19

You can follow the presentation and the conference on the following

The quarterly report and other information material will be made
public on:

Attendo AB

För mer information, vänligen kontakta:
Ingalill Östman, IR-chef Attendo
Telefon: +46 708 67 42 12

Stefan Svanström, Kommunikationschef Attendo
Telefon: +46 708 67 38 07

Informationen ovan är sådan som Attendo ska offentliggöra enligt lagen
om värdepappersmarknaden och/eller lagen om handel med finansiella

Attendo - Nordens ledande omsorgs- och vårdföretag

Attendo är den ledande privata leverantören av offentligt finansierade
omsorgs- och vårdtjänster i Norden. Företaget grundades 1985 och var
först i Sverige med att driva äldreomsorg på entreprenad. Utöver
äldreomsorg erbjuder Attendo omsorg för personer med
funktionsnedsättning, individ- och familjeomsorg samt i Finland
hälso-, sjuk- och tandvård. Attendo har 19 000 medarbetare och är
lokalt förankrat med 510 verksamheter i mer än 200 kommuner i
Sverige, Finland, Norge och Danmark.


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