"I am pleased that we achieved a growth rate of 6.1% in Falck and continued to deliver on our strategy in a challenging business environment. This is, among others, due to an increased demand for the healthcare subscriptions we offer in Scandinavia and Colombia. This shows that more employers want to take responsibility for employee health, and that private consumers continue to give high priority to both physical and mental health," says Jakob Riis, CEO of Falck.
Across the Scandinavian countries, Falck has during the recent year entered into agreements with corporations on healthcare schemes for an additional DKK 70 million in annual revenue, and more private healthcare subscriptions were taken out on the Danish market, providing direct and quick access to therapists and counsellors with various specialties in both mental and physical health.
In Colombia, there has for several consecutive quarters been surging demand for Falck's healthcare subscriptions with access to online medical consultations, which resulted in a record high number of 416,000 subscriptions by the end of Q3 2022.
Further, the Q3 report highlights that the ambulance and fire business in several countries provided more services than last year. Falck began operating a major ambulance contract in San Diego in Q4 2021, which also made a significant growth contribution.
Although revenue growth was achieved, the operating profit (EBITA) came to the same level as last year. The main explanation is that costs related to fuel and staff shortages in various business units in Falck increased more than the revenue growth.
Falck maintains its expectations of realising revenue of DKK 12.0-12.5 billion and an operating profit (EBITA) of DKK 600-700 million for the financial year 2022.
Financial highlights for Q3 2022 compared to Q3 2021:
- Revenue for the Falck Group amounted to DKK 2,942 million compared to DKK 2,773 million, excluding testing activities.
- Operating profit before special items etc. (EBITA) amounted to DKK 142 million compared to DKK 139 million last year, excluding testing activities.
- The EBITA margin was 4.8% compared to 5.0% last year, excluding testing activities.
- Profit for the period was DKK 76 million compared to DKK 102 million last year, including testing activities
- The free cash flow after tax amounted to DKK 48 million compared to DKK 338 million last year, including testing activities.
|
Million DKK (Falck total) |
Q3 2022 |
Q3 2021 |
Q1-Q3 2022 |
Q1-Q3 2021 |
2021 |
|
Revenue |
2,942 |
3,403 |
9,617 |
11,493 |
15,172 |
|
Excluding COVID-19 testing activities |
2,942 |
2,773 |
9,000 |
8,681 |
11,717 |
|
EBITA |
142 |
312 |
598 |
1,559 |
1,834 |
|
Excluding COVID-19 testing activities |
142 |
139 |
398 |
542 |
605 |
|
EBITA margin (%) |
4.8 |
9.2 |
6.2 |
13.6 |
12.1 |
|
Excluding COVID-19 testing activities |
4.8 |
5.0 |
4.4 |
6.2 |
5.2 |
|
Profit for the period |
76 |
102 |
1,081 |
1,036 |
1,229 |
|
Free cash flow |
48 |
338 |
58 |
2,098 |
1,888 |
|
Revenue growth, % (Falck total), excluding COVID-19 testing activities |
Q3 2022 |
|
Organic (%) |
6.1 |
|
Acquisitions and divestitures (%) |
(2.9) |
|
Exchange rates (%) |
2.9 |
|
Reported growth (%) |
6.1 |
