Adoption of financial statements, allocation of results and discharge from liability

The Annual General Meeting resolved to adopt the income statement and balance sheet and consolidated income statement and consolidated balance sheet for the financial year 2022. In accordance with the Board of Directors’ proposal, the Annual General Meeting resolved that no dividend shall be paid for the financial year 2022. Furthermore, the Annual General Meeting resolved to discharge the Board of Directors and CEO from liability for the management during the financial year 2022.

Election of members of the Board of Directors and auditor

The Annual General Meeting resolved to re-elect Mikael Lönn, Roberto Rutili, Marcus Ladow, Gunilla Öhman and Lars Kvarnsund as members of Board of the Directors for the period until next Annual General Meeting.

It was also resolved to elect Mikael Bluhme as new member of the board for the period until next Annual General Meeting. Mikael is representing RoosGruppen AB, one of the largest shareholders in the Company. Mikael has also vast experience from various industries and is currently holding a position as a board member in Öresund Drydocks AB, Nordic Kitchen Group AB and FlexQube.

It was also resolved to re-elect EY as the Company’s auditor with Andreas Nyberg as principal auditor for the period until next Annual General Meeting.

Renumeration to the members of the Board of Directors and auditor

The Annual General Meeting resolved that no renumeration is paid to the Board of Directors. The renumeration to the auditor shall be paid in accordance with current and approved account.

For more information, please contact:

Max Dorthé Ladow, CEO and co-founder, +46 709 85 97 83, [email protected] 

Visit: www.dentalum.com

Dentalum Operations AB (publ) is a fast-growing dental service organisation focusing on acquiring profitable and sustainable dental clinics in the Nordics. Dentalum’s philosophy is built on local heritage, where the clinic owners continue as entrepreneurs operating the clinics with a high degree of independence post-acquisition. Dentalum’s goal is to build a world class organisation by creating a strong corporate culture, positive work environment and growth opportunities which motivate and engage our coworkers to provide the highest quality of care and a remarkable service to our patients. For more information, please visit www.dentalum.com

Enligt beslut taget på extra bolagssstämma den 11 maj 2023 om att ge styrelsen bemyndigande att genomföra emission av nya aktier har Bolaget, i enlighet med den avsikt som offentliggjordes i pressmeddelande den 27 april 2023, på egen hand genomfört Nyemissionen.

Genom Nyemissionen tillförs Bolaget ca 153 miljoner kronor, i vilken merparten av de befintliga aktieägarna deltog, varav flertalet aktieägare med en större andel än den tidigare pro rata ägarandelen. Bolaget stärker härmed kapitalstrukturen och avser att använda likviden för att främja fortsatt organisk och selektiv förvärvsbaserad tillväxt samt som ett led i att refinansiera Dentalum Operations seniora obligation som förfaller i oktober 2023.

För ytterligare information, vänligen kontakta:
Max Dorthé Ladow, VD och medgrundare, +46 709 85 97 83, [email protected]  
Sofi Eriksson, CFO, +46 705 95 46 33, [email protected]

Besök: www.dentalum.com

Om Dentalum

Dentalum Operations AB (publ) är en snabbväxande tandvårdskedja med fokus på att förvärva lönsamma och hållbara tandvårdskliniker i Norden. Dentalums filosofi bygger på lokal förankring där klinikägarna får fortsätta vara entreprenörer och driva verksamheterna med hög självständighetsgrad även efter genomfört förvärv. Dentalum har som mål att bygga en organisation i världsklass och är övertygade om att rätt arbetsmiljö, utvecklingsmöjligheter och företagskultur skapar ett motiverande och engagerande arbetsklimat som leder till den högsta kvalitet av vård och en enastående service till våra patienter.

• Reported net revenue in the first quarter reached SEK 119.2 million (84.4).
• The increase in quarterly revenue compared to the same quarter prior year, was mainly driven by acquisitions of eleven dental clinics, acquired since the same quarter 2022, of which one was completed in the first quarter of, 2023.
• Consolidated EBITDA, adj. for IFRS adjustments of 4.5 million, reached SEK 22.4 million (21.1) of which SEK 28.0 million (26.7) was generated in the dental clinics and SEK -10.1 million (-5.6) of net expenses in the Parent company, Dentalum Operations AB (publ).
• Consolidated operating profit margin, adjusted EBITDA as a percentage of total revenue, for the first quarter decreased to 18.5% (24.6%). Excluding the Parent company expenses, the adj. EBITDA margin in Q1 was 26.9% (24.6%).
• Net financial items amounted to SEK 4.5 million (-8.6), including revaluation of contingent purchase price considerations of SEK 13.3 million (-) and interest expense of SEK -8.8 million (-8.6).
• Group net earnings amounted to SEK 13.4 million (3.3).
• Cash flows from operations, including Parent company, amounted to SEK 9.9 million (4.0).
• Net cash flow after investing and financing activities, was SEK -12.8 million (-25.3).
• As per March 31, 2023, total equity amounted to SEK 226.6 million (257.1), cash balance of SEK 103.6 million (245.3) and interest-bearing debt of SEK 398.8 million (397.7), consisting of bond debt of SEK 400 million, adjusted for amortized financing costs.
• Cash flows from operations amounted to SEK 58.7 million (37.2).
• Consolidated Net cash flow after investing, financing activities and capital contributions, was SEK -154.1 million (89.2). The net cash flow in the same period 2021 includes shareholder´s contribution of SEK 155 million injected in Dentalum Operations and net proceeds from a bond tap issue of 100 million.

Significant events

During the first quarter

• On February 28, 2023, the acquisition of ABCARE AB in Region of Skåne was completed.
• Expansion projects have been initiated in Stockholm and Linköping, involving the relocation of two clinics to new premises. This will result in an increase in the size and capacity of the clinics through the addition of treatment rooms.

After the period

• After the period, Dentalum Group AB announced a rights issue to strengthen the capital structure in Dentalum Operations AB (publ) as a mean to refinance the bond, maturing in October 2023, and to enable further organic growth while selectively exploring inorganic growth prospects.
• Credit approval from a tier one bank for refinancing of outstanding bonds, amounting to SEK 400 million. The credit approval is subject to strengthening the capital structure, reducing leverage as per above.

For more information, please contact:

Max Dorthé Ladow, CEO and co-founder, +46 709 85 97 83, [email protected] 

Sofi Eriksson, Acting CFO and Executive Advisor, +46 705 95 46 33, [email protected]

Visit: www.dentalum.com

Dentalum Operations AB (publ) is a fast-growing dental service organisation focusing on acquiring profitable and sustainable dental clinics in the Nordics. Dentalum’s philosophy is built on local heritage, where the clinic owners continue as entrepreneurs operating the clinics with a high degree of independence post-acquisition. Dentalum’s goal is to build a world class organisation by creating a strong corporate culture, positive work environment and growth opportunities which motivate and engage our co-workers to provide the highest quality of care and a remarkable service to our patients. For more information, please visit www.dentalum.com

This is information that Dentalum Operations AB (publ) is obliged to make public pursuant to EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 10.45 a.m. CEST on May 31, 2023.

• Reported net revenue in the first quarter reached SEK 119.2 million (84.4).
• The increase in quarterly revenue compared to the same quarter prior year, was mainly driven by acquisitions of eleven dental clinics, acquired since the same quarter 2022, of which one was completed in the first quarter of, 2023.
• Consolidated EBITDA, adj. for IFRS adjustments of 4.5 million, reached SEK 22.4 million (21.1) of which SEK 28.0 million (26.7) was generated in the dental clinics and SEK -10.1 million (-5.6) of net expenses in the Parent company, Dentalum Operations AB (publ).
• Consolidated operating profit margin, adjusted EBITDA as a percentage of total revenue, for the first quarter decreased to 18.5% (24.6%). Excluding the Parent company expenses, the adj. EBITDA margin in Q1 was 26.9% (24.6%).
• Net financial items amounted to SEK 4.5 million (-8.6), including revaluation of contingent purchase price considerations of SEK 13.3 million (-) and interest expense of SEK -8.8 million (-8.6).
• Group net earnings amounted to SEK 13.4 million (3.3).
• Cash flows from operations, including Parent company, amounted to SEK 9.9 million (4.0).
• Net cash flow after investing and financing activities, was SEK -12.8 million (-25.3).
• As per March 31, 2023, total equity amounted to SEK 226.6 million (257.1), cash balance of SEK 103.6 million (245.3) and interest-bearing debt of SEK 398.8 million (397.7), consisting of bond debt of SEK 400 million, adjusted for amortized financing costs.
• Cash flows from operations amounted to SEK 58.7 million (37.2).
• Consolidated Net cash flow after investing, financing activities and capital contributions, was SEK -154.1 million (89.2). The net cash flow in the same period 2021 includes shareholder´s contribution of SEK 155 million injected in Dentalum Operations and net proceeds from a bond tap issue of 100 million.

Significant events

During the first quarter

• On February 28, 2023, the acquisition of ABCARE AB in Region of Skåne was completed.
• Expansion projects have been initiated in Stockholm and Linköping, involving the relocation of two clinics to new premises. This will result in an increase in the size and capacity of the clinics through the addition of treatment rooms.

After the period

• After the period, Dentalum Group AB announced a rights issue to strengthen the capital structure in Dentalum Operations AB (publ) as a mean to refinance the bond, maturing in October 2023, and to enable further organic growth while selectively exploring inorganic growth prospects.
• Credit approval from a tier one bank for refinancing of outstanding bonds, amounting to SEK 400 million. The credit approval is subject to strengthening the capital structure, reducing leverage as per above.

For more information, please contact:

Max Dorthé Ladow, CEO and co-founder, +46 709 85 97 83, [email protected] 

Sofi Eriksson, Acting CFO and Executive Advisor, +46 705 95 46 33, [email protected]

Visit: www.dentalum.com

Dentalum Operations AB (publ) is a fast-growing dental service organisation focusing on acquiring profitable and sustainable dental clinics in the Nordics. Dentalum’s philosophy is built on local heritage, where the clinic owners continue as entrepreneurs operating the clinics with a high degree of independence post-acquisition. Dentalum’s goal is to build a world class organisation by creating a strong corporate culture, positive work environment and growth opportunities which motivate and engage our co-workers to provide the highest quality of care and a remarkable service to our patients. For more information, please visit www.dentalum.com

This is information that Dentalum Operations AB (publ) is obliged to make public pursuant to EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 10.45 a.m. CEST on May 31, 2023.

Årsredovisningen publiceras på svenska och engelska och finns tillgänglig på Dentalums hemsida: https://dentalum.com/financial-reports/

För mer information, vänligen kontakta

Max Dorthé Ladow, VD och medgrundare, +46 709 85 97 83, [email protected] 
Sofi Eriksson, Tf CFO, +46 705 95 46 33, [email protected]

För mer information, vänligen besök www.dentalum.com

Dentalum Operations AB (publ) är en snabbväxande tandvårdskedja med fokus på att förvärva lönsamma och hållbara tandvårdskliniker i Norden. Dentalums filosofi bygger på lokal förankring där klinikägarna får fortsätta vara entreprenörer och driva verksamheterna med hög självständighetsgrad även efter genomfört förvärv. Dentalum har som mål att bygga en organisation i världsklass och är övertygade om att rätt arbetsmiljö, utvecklingsmöjligheter och företagskultur skapar ett motiverande och engagerande arbetsklimat som leder till den högsta kvalitet av vård och en enastående service till våra patienter.

Denna information är sådan information som Dentalum Operations AB (publ) är skyldig att offentliggöra enligt lagen om värdepappersmarknaden. Informationen lämnades, genom ovanstående kontaktpersoners försorg, för offentliggörande den 28 april 2023 kl. 21:00 CEST.

The Annual Report is published in Swedish and English and is available on Dentalum’s website: https://dentalum.com/financial-reports/
 

For further information, please contact

Max Dorthé Ladow, CEO and co-founder, +46 709 85 97 83, [email protected] 
Sofi Eriksson, acting CFO, +46 705 95 46 33, [email protected]

For more information, please visit www.dentalum.com

Dentalum Operations AB (publ) is a fast-growing dental service organisation focusing on acquiring profitable and sustainable dental clinics in the Nordics. Dentalum’s philosophy is built on local identity, where the clinic owners continue as entrepreneurs operating the clinics with a high degree of independence post-acquisition. Dentalum’s goal is to build a world class organisation by creating a strong corporate culture, positive work environment and growth opportunities which motivate and engage our coworkers to provide the highest quality of care and a remarkable service to our patients. For more information, please visit www.dentalum.com

This is information that Dentalum Operations AB (publ) is obliged to make public pursuant to the Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out above, at 21.00 p.m. CEST on April 28, 2023.

Dentalum continues in accordance with its strategy to establish itself as one of the leading dental groups in Sweden. To promote continued acquisition-based and organic growth opportunities, and as part of refinancing Dentalum Operations’ outstanding bonds with maturity in October 2023, Dentalum Group is considering raising capital.

Dentalum Group’s main shareholder, having approximately 46 per cent of the shares and votes in Dentalum Group, has expressed its intention to participate with its pro rata in a potential capital raise.

For more information, please contact:

Max Dorthé Ladow, CEO and co-founder, +46 709 85 97 83, [email protected] 

Sofi Eriksson, acting CFO, +46 705 95 46 33, [email protected]

Visit www.dentalum.com

About Dentalum

Dentalum Operations AB (publ) is a fast-growing dental service organisation focusing on acquiring profitable and sustainable dental clinics in the Nordics. Dentalum’s philosophy is built on local heritage, where the clinic owners continue as entrepreneurs operating the clinics with a high degree of independence post-acquisition. Dentalum’s goal is to build a world class organisation by creating a strong corporate culture, positive work environment and growth opportunities which motivate and engage our coworkers to provide the highest quality of care and a remarkable service to our patients. For more information, please visit www.dentalum.com

This is information that Dentalum Operations AB (publ) is obliged to make public pursuant to EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 4.15 p.m. CEST on April 27, 2023.

Dentalum fortsätter i enlighet med sin strategi att etablera sig som en av de ledande tandvårdsgrupperna i Sverige. I syfte att främja fortsatta förvärvsbaserade och organiska tillväxtmöjligheter och som en del av refinansieringen av Dentalum Operations utestående obligationer med förfall i oktober 2023, överväger Dentalum Group att genomföra en kapitalanskaffning.

Dentalum Groups största aktieägare, som innehar ca 46 procent av aktiekapitalet och rösterna i Dentalum Group, har uttryckt sin avsikt att delta med sin pro-rata andel i en eventuell kapitalanskaffning.

För ytterligare information, vänligen kontakta:
Max Dorthé Ladow, VD och medgrundare, +46 709 85 97 83, [email protected]  
Sofi Eriksson, tf CFO, +46 705 95 46 33, [email protected]

Besök: www.dentalum.com

Om Dentalum

Dentalum Operations AB (publ) är en snabbväxande tandvårdskedja med fokus på att förvärva lönsamma och hållbara tandvårdskliniker i Norden. Dentalums filosofi bygger på lokal förankring där klinikägarna får fortsätta vara entreprenörer och driva verksamheterna med hög självständighetsgrad även efter genomfört förvärv. Dentalum har som mål att bygga en organisation i världsklass och är övertygade om att rätt arbetsmiljö, utvecklingsmöjligheter och företagskultur skapar ett motiverande och engagerande arbetsklimat som leder till den högsta kvalitet av vård och en enastående service till våra patienter.

Denna information är sådan information som Dentalum Operations AB (publ) är skyldig att offentliggöra enligt EU:s marknadsmissbruksförordning. Informationen lämnades, genom ovanstående kontaktpersoners försorg, för offentliggörande den 27 april 2023 kl. 16:15.

On 28 February 2023, Dentalum commenced its partnership with Lena Kager and Hans Nordgren together with their team at the clinic. The clinic provides patients with mainly general dental care and cosmetic treatments such as teeth whitening and orthodontic treatments.

”For some time now, we have been thinking a lot about the next phase in life and addressing of the great underlying dental care need that exists in the region but also the best transition for our patients. With Dentalum, we believe that we, together, can take care of our patients in the best possible way but also do great things for the region. We have always been driven to continue to develop the operations and ensure high-quality care for our patients. Together with Dentalum, we get the chance to realize this and through their business model that ensures each clinic manager autonomy and control of their own clinic, we will be able to continue to attract the right people to the clinic and offer our patients the best possible dental care. In addition, we get the opportunity to run our businesses in the same manner as before, which was also a decisive factor for us in the choice to sell the businesses”, says the co-founder and seller of ABCARE Tandvård AB (Alfa Tandvårdskliniken), Lena Kager.

”It feels exciting to welcome Lena and Hans and with team to Dentalum, whom we have had a lot of dialogues with to find the right approach for a partnership and how to accommodate the need for dental care in Hässleholm. Both Lena and Hans are very driven and provide high-quality care. These are crucial parameters in order to care for patients in a qualitative and sustainable way to make good dental care accessible to more patients in the rural and urban parts of the region. Lena and Hans have conducted their business for over 30 years and have a good reputation and a local knowledge of the region. We are looking forward to manage and further improve Alfa Tandvårdskliniken together when realizing the plans we have for Skåne”, says Dentalum’s CEO Max Dorthé Ladow.

For more information, please contact:

Max Dorthé Ladow, CEO and co-founder, +46 709 85 97 83, [email protected]
Marcus Ladow, Head of M&A and co-founder, +46 763 45 80 80, [email protected]

Visit: www.dentalum.com

Dentalum Operations AB (publ) is a fast-growing dental service organisation focusing on acquiring profitable and sustainable dental clinics in the Nordics. Dentalum’s philosophy is built on local identity, where the clinic owners continue as entrepreneurs operating the clinics with a high degree of independence post-acquisition. Dentalum’s goal is to build a world class organisation by creating a strong corporate culture, positive work environment and growth opportunities which motivate and engage our coworkers to provide the highest quality of care and a remarkable service to our patients. For more information, please visit www.dentalum.com 

________________________

1) Dentalum’s pro forma revenue and EBITDA exclude costs associated with Dentalum Operations AB (publ) and IFRS lease re-classifications, and includes revenue and EBITDA for ABCARE Tandvård AB. 

Den 28 februari 2023 inleddes samarbetet med Lena Kager och Hans Nordgren med personal på kliniken i Hässleholm. Kliniken erbjuder idag främst allmän tandvård samt olika estetiska behandlingar såsom tandblekning och tandreglering.

”Vi har sedan en tid tillbaka funderat mycket kring nästa fas i livet och det bästa omhändertagandet av klinikens patienter och det stora underliggande tandvårdsbehov som finns i regionen. Med en större aktör i ryggen tror jag att vi tillsammans kan fortsätta att ta hand om klinikens patienter på bästa sätt och samtidigt göra något bra för regionen. Vi har alltid drivits av att få fortsätta utveckla verksamheterna och säkerställa högkvalitativ vård till våra patienter. Tillsammans med Dentalum får vi chansen att förverkliga detta och deras strategi med lokal förankring och högt självbestämmande på kliniken tror vi blir nyckelfaktorer för att fortsatt attrahera rätt personer till kliniken och erbjuda den bästa vården för våra patienter. Vi får dessutom möjligheten att driva vidare vår verksamhet på samma sätt som tidigare, vilket också var en avgörande faktor för oss i valet att sälja verksamheten”, säger medgrundaren och säljaren av ABCARE Tandvård AB (Alfa Tandvårdskliniken), Lena Kager.

”Det känns fantastiskt kul att få välkomna Lena och Hans och deras personal till Dentalum. Vi har pratat med Lena och Hans en längre tid för att hitta rätt tillvägagångssätt för ett samarbete och hur vi tillsammans kan tillgodose vårdbehovet i Hässleholm. Både Lena och Hans har ett starkt driv och bedriver en högkvalitativ vård. Det är avgörande parametrar för att omhänderta patienterna på ett långsiktigt, kvalitativ och hållbart sätt så att fler patienter får tillgång till bra vård. Lena och Hans har bedrivit sin verksamhet i över 30 år och har både ett fint rykte och bra lokal kännedom i regionen. Vi ser fram emot att fortsätta förvalta och förädla Alfa Tandvårdskliniken vidare när vi tillsammans vi genomför de planer vi har för Skåne”, säger Dentalums VD Max Dorthé Ladow.

För ytterligare information, vänligen kontakta:

Max Dorthé Ladow, VD och medgrundare, +46 709 85 97 83, [email protected] 
Marcus Ladow, Förvärvschef och medgrundare,  +46 763 45 80 80, [email protected]

Besök www.dentalum.com

Dentalum Operations AB (publ) är en snabbväxande tandvårdskedja med fokus på att förvärva lönsamma och hållbara tandvårdskliniker i Norden. Dentalums filosofi bygger på lokal förankring där klinikägarna får fortsätta vara entreprenörer och driva verksamheterna med hög självständighetsgrad även efter genomfört förvärv. Dentalum har som mål att bygga en organisation i världsklass och är övertygade om att rätt arbetsmiljö, utvecklingsmöjligheter och företagskultur skapar ett motiverande och engagerande arbetsklimat som leder till den högsta kvalitet av vård och en enastående service till våra patienter.

___________________________

1)Dentalums proformerade omsättning och EBITDA (RTM12/22) är exklusive kostnader för Dentalum Operations AB (publ) och IFRS-omklassificieringar, och inkluderande omsättning och EBITDA för ABCARE Tandvård AB.