Throughout 2023 Kry has prioritised profitability and sustainability over rapid expansion and this is reflected in the company’ s financial stability which improved significantly throughout 2023 and yielded clear results across all our markets. 

Over the last year, our teams have worked hard and made significant progress in shoring up our revenues and managing costs to find stable ground, closing the gap towards group profitability with movement in our Year on Year EBITDA results and cash flow development. 

We have achieved revenue growth of 229mSEK, resulting in 12% growth in revenues. We have a clear trajectory to deliver sustainable and profitable growth at group level by start of 2025.  Improved cost control and a reduction of overhead costs has also seen all markets (excluding group overheads) become EBITDA positive by the end of 2023 with the annual results improving by 44pp on group level from -64% in 2022 to -20% in 2023.

Kry’s operational efficiency has also greatly improved during 2023 driven by better systems and operational models resulting in improved gross margins across all markets from 74% (2022) to 79% (2023). 

Demand in France is outpacing any of our other markets and it is now our largest market with 56% YoY financial growth. In Sweden we continue to list more patients and at a least a quarter of households now have access to Kry healthcare. While in the UK, demand for private medical insurance has seen Livi support its partner with close to 150% growth in appointments.  

Going into 2024, Kry’s position has never been stronger:

- We have a strong European market presence with operations in France, UK and the Nordics where all markets are operationally EBITDA positive.

- Our “digi-physical” offering is now delivering the Nordics' strongest care offering in terms of efficiency, availability and profitability. We hope to replicate this model in France and the UK.

- We’re exploring a number of product and technology initiatives including how we can become better integrated into public health systems like the NHS by opening-up our APIs to enhance medical record integration.

We remain focused on our mission and continue to be in a unique position to address the challenges that healthcare systems across Europe are facing. We are now in a solid position with good margin, we are able to increase investments to support sustainable growth as the care delivery model is proven to solve real problems in the health care systems and is popular among both patients and clinicians.  Our goal is to be Europe's most significant healthcare company with proven efficiency, sustainability and scalability, delivered at a lower cost to healthcare systems. 

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