Guidance for 2024

Guidance for 2024

Terveystalo expects its full-year 2024 revenue to grow (2023: EUR 1,286 million) and adjusted EBITA to be 12.5-13.1 percent of revenue (2023: 9.8 percent).

The estimates are based on the third quarter of 2024 projections for inflation, consumer demand and employment, and above-average morbidity. The performance improvement program has significantly exceeded its initial target, and the measures are having an impact faster than previously estimated.  The estimates include an annual decrease of approximately EUR 10 million in revenue in the Portfolio Businesses segment's outsourcing business. The Sweden segment's revenue is expected to decline due to macro weakness and the exchange rate is expected to remain stable. The estimates include the increase in the VAT rate that has entered into force, the salary increases based on the collective labour agreement for nurses, as well as a one-off payment impacting all personnel costs in the fourth quarter. The estimates do not include material acquisitions or divestments.

Previous guidance for 2024, published on 25.10.2024:

Terveystalo expects its full-year 2024 revenue to grow (2023: EUR 1,286 million) and adjusted EBITA to be 12.0–12.5 percent of revenue (2023: 9.8 percent).

The estimates are based on the third quarter of 2024 projections for inflation, consumer demand and employment, and normal morbidity. The performance improvement program has significantly exceeded its initial target, and the measures are having an impact faster than previously estimated.  The estimates include an annual decrease of approximately EUR 10 million in revenue in the Portfolio Businesses segment's outsourcing business. The Sweden segment's revenue is expected to decline due to macro weakness and the exchange rate is expected to remain stable. The estimates include the increase in the VAT rate that has entered into force, the salary increases based on the collective labour agreement for nurses, as well as a one-off payment impacting all personnel costs in the fourth quarter. The estimates do not include material acquisitions or divestments.

Terveystalo will publish its financial statements release for 2024 on Friday, 14 February 2025.