Terveystalo Oyj - Inside information

Inside information: Profit warning - Terveystalo raises its profitability guidance for 2024 and provides preliminary information on revenue and profitability for the second quarter of 2024

Terveystalo Plc, inside information 11 July 2024 at 08:00 EEST

The implementation of Terveystalo's profit improvement program has progressed
faster during the first half of the year than originally expected, and
Terveystalo raises its profitability guidance for 2024.  The guidance for
revenue remains unchanged.

- Our profit improvement measures have had a faster impact than expected and our
profitability strengthened even during the seasonally lower demand in the
summer. The fifth consecutive quarter of profit improvement and Q2 results
underline that the turnaround objectives set twenty months ago have been reached
and the improvement is sustainable. Visibility for the rest of the year has also
improved. I want to thank all our employees for their excellent work. Our
results are generated through your work," commented Ville Iho, President and CEO
of Terveystalo.

New guidance for 2024:

Terveystalo expects its full-year 2024 revenue to grow (2023: EUR 1,286 million)
and adjusted EBITA to be 11.5-12.5 percent of revenue (2023: 9.8 percent).

The estimates are based on the second 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 increase in the VAT rate in Finland does not
significantly impact the 2024 result. The estimates do not include material
acquisitions or divestments.

Previous guidance for 2024, published on 26.4.2024:

Terveystalo expects its full-year 2024 revenue to grow (2023: EUR 1,286 million)
and adjusted EBITA to be 10.5-11.5 percent of revenue (2023: 9.8 percent).

The estimates are based on the first quarter of 2024 projections for inflation,
consumer demand and employment, normal morbidity, and a predictable labour
market in Finland. The estimates include the impact of the successful completion
of the profit improvement program and 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 possible increase in the VAT
rate in Finland is not expected to have a significant impact on the 2024 result.
The estimates do not include material acquisitions or divestments.

Preliminary data on revenue and profitability for the second quarter of 2024

Based on unaudited data, second-quarter revenue was approximately EUR 340
million, and adjusted EBITA was approximately EUR 42 million and 12.5% of
revenue. Adjustments amounted to approximately EUR 10 million, including a one
-off item of approximately EUR 6 million related to renovation and maintenance
liabilities in a single location over a period of more than ten years.

Terveystalo will publish its half-year financial report for 2024 on Wednesday,
17 July 2024.

Helsinki 11 July 2024

Terveystalo Plc
Board of Directors

Additional information for investors and analysts:

Kati Kaksonen,
Vice President, Communications, Investor Relations and Sustainability
Tel. 010 345 2034
kati.kaksonen@terveystalo.com

Distribution:
Nasdaq Helsinki Oy
Principal media
www.terveystalo.com

Terveystalo in brief

Terveystalo is the largest private healthcare service provider in Finland in
terms of revenue and network. Terveystalo is also a leading occupational health
provider in the Nordic region. We offer a wide variety of primary health care,
specialized care, and well-being services for corporate and private customers
and the public sector. Terveystalo's s digital services are available 24/7,
regardless of time and place. Health and well-being services are also provided
by over 377 clinics across Finland. In Sweden, we offer occupational health
services at 152 clinics. Terveystalo is listed on the Helsinki Stock Exchange.

In 2023, Terveystalo had approximately 1.2 million individual customers in
Finland and the number of customer appointments was approximately 7.6 million.
Terveystalo employs over 15,500 healthcare and well-being professionals.
www.terveystalo.com