Falck continued its growth strategy and delivered organic growth throughout the year across its business units in Europe, the US and Latin America. Growth was driven by higher sales of healthcare solutions and expanded contracts within the fire and ambulance operations.
"It has been a solid year for Falck. We delivered healthy and broadly anchored organic growth in all quarters and achieved a satisfactory operating profit. The mounting demand for healthcare requires us as a healthcare provider to ensure the resilience and innovative power to continuously develop new, digital and smarter ways of delivering health. In this endeavor, we are increasing the investment level in 2023 to pursue significant investments in digitalisation and the development of healthcare services of the future," says Jakob Riis, CEO of Falck.
Falck delivered close to 9 million healthcare services in 2022, nearly up by 1 million from last year. The increase was mainly driven by an increased focus on prevention as well as demand for support in the field of physical and mental health.
Science Based Targets initiative
An important milestone was achieved in 2022 when Falck joined the Science Based Targets initiative and committed to reducing CO2 emissions throughout the value chain. Falck's work with sustainability concentrates on creating new, digital and sustainable health solutions to make it possible to help more people with fewer resources and less climate footprint.
For the financial year 2023, Falck expects to generate revenue of DKK 11.5–12.0 billion and an operating profit (EBITA) of DKK 300–450 million, which includes a higher level of investment.
Financial highlights
- Revenue was DKK 12,030 million in 2022 compared to DKK 11,717 million the year before, excluding the testing activities.
- Operating profit before special items etc. (EBITA) amounted to DKK 517 million compared to DKK 605 million last year, excluding the testing activities. EBITA in 2022 was lower than the previous year due to rising energy prices and global shortages of healthcare workers.
- The result for the period was DKK 921 million compared to DKK 1.229 million last year, including the test activities.
- Free cash flow after tax and excluding the testing activities was DKK -18 million compared to DKK 578 million last year. This was predominantly caused by deferred VAT payments and a delay in the prepayment of some major contracts.
- Strategic divestment of roadside assistance outside Denmark was completed with a transaction gain of DKK 708 million.
- At the upcoming annual general meeting, Falck's Board of Directors will propose an ordinary dividend of DKK 255 million.
|
Million DKK (Falck total) |
2022 |
2021 |
Q4 2022 |
Q4 2021 |
|
Revenue |
12,647 |
15,173 |
3,003 |
3,680 |
|
Excluding COVID-19 testing activities |
12,030 |
11,717 |
3,003 |
3,036 |
|
EBITA |
717 |
1,834 |
118 |
275 |
|
Excluding COVID-19 testing activities |
517 |
605 |
118 |
63 |
|
EBITA margin (%) |
5.7 |
12.1 |
3.9 |
7.5 |
|
Excluding COVID-19 testing activities |
4.3 |
5.2 |
3.9 |
2.1 |
|
Profit for the period |
921 |
1,229 |
|
|
|
Free cash flow |
(152) |
1,888 |
(210) |
(210) |
|
Excluding COVID-19 testing activities |
(18) |
578 |
(210) |
(331) |
|
Revenue growth, % (Falck total), excluding public COVID-19 testing activities |
2022 |
|
Organic (%) |
5.7 |
|
Acquisitions and divestments (%) |
(5.0) |
|
Exchange rates (%) |
2.0 |
|
Reported growth (%) |
2.7 |
For further information, please contact Falck’s Communications Department on tel. +45 7022 0307 or comms@falck.com.
