NGS Group AB (NGS:STO), a provider of healthcare and education staffing based in Sweden, announced in a market update last week that preliminary operating loss (EBITDA) amounted to approximately SEK -5.5 million (€ -473,326) for the first quarter of 2024 (SEK -1.6 million (€ -137,687) in Q1 2023).

The SEK -5.5 million (€ -473,326) is lower than the group’s assessed market expectations.

According to the company, the biggest departure compared to prior expectations are within nursing staffing in Sweden as well as with its subsidiary Source.

Nursing staffing in Sweden declined strongly in March with fewer calls than expected from the regions, the group stated. Within the subsidiary company Source, where it recently signed major agreements within the assessment business, the group said the launch of the deal has been postponed.

However, NGS Group stated that it has exceeded its growth plan in Norway, where since October 2023 it has been delivering on the Norwegian agreement for nurse staffing to the state hospitals.

“Our plan going forward is to continue with our powerful and intensive sales focus in all areas, our growth plan in Norway and an ongoing cost review,” the group stated.

The company's report for the first quarter will be published on 25 April 2024.

NGS Group shares closed on 18 April at SEK 3.40 (€0.29), down 2.8% on the day. The company has a market cap of SEK 63.72 million (€5.5 million).