Annual report: Falck increases operating profit by 21%

Throughout 2024, Falck delivered on its corporate strategy of spreading healthcare solutions, digitising the Group and improving operational efficiency.

The annual result met expectations and was marked by increased demand for Falck's healthcare services in Europe, the US and Latin America. Although the European ambulance business had lower volumes in 2024 compared to last year, this was more than offset by the increased revenue from other healthcare services.

The healthcare group is in the process of a thorough digitalisation and increased investments to a record high level of DKK 213 million. In addition, Falck invested in the expansion of healthcare at home solutions, where new initiatives were launched in Denmark and the US. Despite major investments, Falck delivered a significantly better operating profit than the previous year.

"We deliver a solid annual result with an improvement of operating profit of 21%, which confirms our strategy to spread healthcare solutions while creating a more efficient business. Our investments in digitalisation will strengthen the market position and enable us to meet the growing demand for healthcare services. This year, we also launched new healthcare at home solutions which will open new business opportunities in the coming years,"

says Jakob Riis, CEO of Falck.

In 2024, Falck provided 9.5 million healthcare services in the prevention, treatment and rehabilitation of both mental and physical health. At the same time, Falck focused on reducing CO2 emissions and achieved a reduction of scope 1 emissions of 8% compared to the baseline year 2022.

In 2022, Falck was among the first global healthcare operators to commit to the Science Based Targets initiative (SBTi). Falck's science-based CO2 reduction targets have now been approved by SBTi, and Falck has committed to reducing scope 1 and 2 emissions by 50.4% and scope 3 emissions by 30% by 2032 from the baseline year 2022.

For the financial year 2025, Falck expects to achieve organic growth of around 4% and an EBIT margin before special items to range between 4% and 5%.

Financial highlights

• Revenue amounted to DKK 12,134 million in 2024 compared to DKK 11,913 million the year before. Revenue increased due to stronger demand for healthcare services in the main markets in Europe, the US and Latin America, but was negatively impacted by a decrease in the volume of ambulance contracts in Europe.
• Operating profit (EBIT before special items) was DKK 533 million compared to DKK 439 million in the previous year. EBIT before special items in 2024 was higher than the previous year due to increased sales of healthcare services, operational efficiency improvements and price adjustments, but was negatively impacted by increased investments in digitalisation and business development.
• Profit for the period was DKK 116 million compared with DKK 334 million last year. In 2023, profit for the year was positively affected by the activation of a tax loss in the US of approximately DKK 231 million.
• Free cash flow after tax was DKK 231 million compared with DKK 311 million last year.

Falck's annual report can be found on www.falck.com.