Humana AB: IPO, Refinancing and Acquisitions

STOCKHOLM--()--Regulatory News:

Humana AB (STO:HUM)

First quarter: January-March 2016

· Operating revenue amounted to SEK 1,471 M, an increase of 9% or SEK 120 M. Acquisitions contributed SEK 88 M to revenue. Revenue from disposal of companies last year totalled SEK 12 M. Revenue increased organically by SEK 43 M, or 3.2%. In constant currency, revenue increased organically by 3.9%. · Operating profit was SEK 41 M (84). Acquisitions contributed SEK 11 M to operating profit. Profit was negatively affected by costs for non-recurring items related to the IPO of SEK 38 M (2). Operating profit adjusted for non-recurring items (IPO costs) thereby totalled SEK 79 M (86), corresponding to an adjusted operating margin of 5.4% (6.4%).

· Net profit after tax for the period was SEK -16 M (42). Costs for renegotiating the company’s long-term financing of about SEK 42 M were charged to earnings in the quarter.

· Earnings per ordinary share for the period before and after dilution were SEK -0.82 SEK (0.46).

· Operating cash flow was SEK -33 M (32).

Events during the first quarter

· Humana is listed on the Nasdaq Main Market On 22 March, Humana was listed on the Nasdaq Main Market. The initial price was SEK 62, corresponding to a market value of about SEK 3.3 billion.

· New share issue, new number of shares and new ownership structure In connection with the IPO, Humana conducted a new share issue amounting to SEK 450 M, with net proceeds of SEK 404 M after SEK 46 M in total listing expenses, of which SEK 38 M encumbered cash flow and operating profit. The number of shares increased by 7,258,064. At the end of March 2016, the total number of shares amounted to 53,140,064 and the number of shareholders was 7,204.

· Humana refinances Humana has entered into a new long-term financing agreement. The new loan agreement amounts to SEK 2,200 M and has a term of five years. The agreement lowers Humana’s interest expenses significantly, while providing the company more advantageous covenant conditions.

Events after end of the first quarter

· Humana expands into Finland through the acquisition of Arjessa Arjessa is a leading individual and family care provider in Finland. The company’s revenue for 2015 amounted to EUR 32.1 M and operating profit before goodwill amortisation was EUR 3.1 M. The purchase price, paid in cash, amounts to EUR 32 M. The transaction, that is approved by the Finnish Anti-Trust Authority, is expected to be completed during the end of the second quarter 2016. · Humana acquires Nygårds Vård Gotland AB Revenues in Nygårds Vård Gotland AB, which provides accommodation with special services for adults with mental disabilities, amounted to SEK 12 M in 2015.

The information is such that Humana AB is required to disclose in accordance with the Swedish Financial Instruments Trading Act and/or the Swedish Securities Market Act. The information was submitted for publication at 08.00 CET on May 19, 2016.

Humana is a leading Nordic care company providing services within individual and family care, personal assistance, elderly care and special service housing in accordance with LSS. Humana has more than 14 000 employees in Sweden and Norway providing care for over 7 000 individuals, and working towards the vision “Everyone is entitled to a good life”. In 2015, Humana’s operating revenue was SEK 5 655 M. The company’s headquarters are located in Stockholm, Sweden. Read more about Humana on www.humana.se (http://www.corporate.humana.se) or http://corporate.humana.se (http://www.corporate.humana.se) (http://www.corporate.humana.se)

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Contacts

Humana
Cecilia Lannebo
Head of IR
+46 722-208 277
cecilia.lannebo@humana.se

Contacts

Humana
Cecilia Lannebo
Head of IR
+46 722-208 277
cecilia.lannebo@humana.se