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Late Tuesday night ad Attendo that the company is once again forced to lower its profit forecasts due to lower growth in sales from new healthcare centers in Finland.
"It is disappointing that we need to adjust our outlook further. Our ability to analyze and forecast in Finland is clearly unsatisfactory and it is clear that our growth strategy in Finland has been too aggressive, "said CEO Martin Tivéus, according to the press release.
The expected operating profit of SEK 120 million reflects the evolution of the underlying profit and no one-time item is included. This figure can be compared to that of the second quarter of 2018, when Attendo's operating profit amounted to SEK 128 million – a result attributable to a non-recurring item of SEK 53 million. .
Attendo announces at the same time that the health care company launch an action program aimed at creating a "better balance between the opening rate of new homes and the occupancy of existing dwellings" on the Finnish market. In addition, a new sector manager and a finance officer will be appointed for Finland, while the number of new establishments will be reduced.
Pertti Karjalainen, current sector director, will occupy a position focused on sales, price negotiations and contacts with municipalities and governments.
"In the longer run, we find that Attendo Finland can find satisfactory use and profitability," said Martin Tivéus, according to the press release.
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