Dedicare is changing the allocation of costs in its segment structure from its First-quarter Interim Report 2024 onwards. In the previous segment reporting, shareholder-related expenses were allocated between all segments. Effective the first quarter 2024, all these expenses will be reported in the Group-wide segment. Shareholder expenses are costs arising due to ownership/management of shares and the company's listing on Nasdaq. Dedicare's opinion is that all these expenses should be charged to the Group-wide segment to give a fairer view. Segment reporting for 2023 has been recalculated for each period and presented in the following table (accumulated figures per period).
From the first quarter 2024, the segments are Sweden, Norway, Denmark, UK (previously called New Markets) and Group-wide.
Sweden: the recruitment and staffing business operation for the Swedish market and allocated central expenses for support functions such as Group Management, Accounting & Finance, Legal, Corporate Communication, Business Development, HR, IT Management and cost of premises. The allocation is pursuant to an allocation key based on the segment's sales or FTE. Also includes the segment's transition to IFRS 16.
Norway: the recruitment and staffing business operation for the Norwegian market and allocated central expenses for support functions such as Group Management, Accounting & Finance, Legal, Corporate Communication, Business Development, HR, IT Management and cost of premises. The allocation is pursuant to an allocation key based on the segment's sales or FTE. Also includes the segment's transition to IFRS 16.
Denmark: the recruitment and staffing business operation for the Danish market and allocated central expenses for support functions such as Group Management, Accounting & Finance, Legal, Corporate Communication, Business Development, HR, IT Management and cost of premises. The allocation is pursuant to an allocation key based on the segment's sales or FTE. Also includes the segment's transition to IFRS 16.
UK: the recruitment and staffing business operation for the UK market and allocated central expenses for support functions such as Group Management, Accounting & Finance, Legal, Corporate Communication, Business Development, HR, IT Management and cost of premises. The allocation is pursuant to an allocation key based on the segment's sales or FTE. Also includes the segment's transition to IFRS 16.
Group-wide: Group-wide items, like shareholder-related expenses, amortisation of surplus values from acquisitions, amortisation related to business transfers, intragroup transactions, eliminations, etc. Also includes the segment's transition to IFRS 16.
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The reason for this alteration of segment reporting is that Dedicare has amended its business model from the parent company previously being operational to now provide support functions for other group companies and deal with shareholder-related matters. This is part of the group's growth strategy, and thus centralised in group-wide functions to streamline the group's administration.
This information is mandatory for Dedicare AB (publ) to publish pursuant to the EU Market Abuse Regulation (MAR) and the Swedish Securities Markets Act. This information was submitted for publication through the agency of the following contact at 3 p.m. CET on 25 April 2024.