April 21, 2023
Dedicare AB (DEDI:STO), a staffing agency focused on healthcare, life sciences and social work, reported Thursday that first-quarter net sales increased 27.5% year-over-year to SEK 503.2 million (€44.5 million). ). The organic increase amounted to 21.8%.
The operating result of Dedicare, headquartered in Stockholm, Sweden, increased by 45.0% to SEK 38.0 million (€ 3.4 million).
Net sales at the company’s operations in Sweden remained about the same at SEK 138.6 million (€ 12.3 million). The company said its Swedish life sciences business contributed SEK12.3 million (€1.1 million) in the quarter. Dedicare also noted positive developments in the sociologist workforce in Sweden, but reported that demand for nurses declined as Stockholm and Sörmland introduced restrictions on hiring nurses during the quarter.
In Norway, the company’s largest market, Dedicare reports that demand remains strong. Net sales in Norway increased 32.3% year over year to SEK 284.8 million (€ 22.0 million).
Dedicare also saw increasing demand in Denmark, where net sales increased by 41.5% to SEK 69.9 million (€6.2 million).
In addition, the company reported that its newly acquired UK branch, Templars Medical Agency, posted net sales of SEK 9.9 million (€876,152) in the first quarter.
The profit for the first quarter increased by 19.5% to SEK 24.5 million (€ 2.2 million).
Share price and market capitalization
Shares in Dedicare closed 4.10% higher on Thursday to SEK 152.40 (€ 13.45); according to FT.com, they hit a new 52-week high on Thursday when they reached SEK 156.00 (€13.77). The company had a market capitalization of SEK 1.11 billion (€98.0 million).