Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q3 2023 Earnings Presentation
18 slides from Academedia Ab's earnings presentation, May 3, 2023
Slide 1: Interim report presentation Q3
Interim report presentation Q3 May 5, 2023 July 2022 – March 2023 Marcus Strömberg, CEO Katarina Wilson, CFO 1
Slide 2: CEO introduction
CEO introduction • The number of children and students increased by 6.4 percent and revenue by 10.3 percent. In the Preschool Segment the number of children increased by 14.9 percent and revenue by 22.9 percent. • Third quarter 2022/23 is the first quarter fully impacted by inflation. • Many years i
Slide 3: Highlights Q3: Strong volume and revenue growth
Highlights Q3 Strong volume and revenue growth Key figures Q3 2022/23, excluding effects of IFRS 16 • Student numbers grew by 6.4 percent. • Net sales increased by 10.3 percent, organic growth was (MSEK) 2022/23 2021/22 Change 7.5 percent and the acquisitions of Sandviks and FAWZ # of Students 99,07
Slide 4: Highlights Q3: Strong volume and revenue growth
Highlights Q3 Strong volume and revenue growth Adj EBIT 21/22 264 Preschool: Higher operating cost due to inflation is to a higher extent offset by Preschool 11 the annual school voucher revision and higher capacity utilisation in Sweden and Norway. Acquisitions impacted profit positively. Compulsor
Slide 5: Continued growth, net sales exceeds SEK 15 bn, EBIT affected by lower volumes
12 month rolling figures Q3 2022/23 Continued growth, net sales exceeds SEK 15 bn, EBIT affected by lower volumes in the Adult Education Segment and inflation Key figures Q3 R12 2022/23, excluding effects of IFRS 16 • 12 month rolling net sales continue to grow and are Apr 2022 – now at SEK 15.2 bil
Slide 6: Segment reporting
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Slide 7: We operate throughout the education chain
4 business segments and presence in 4 countries We operate throughout the education chain Upper Compulsory Adult Preschool Secondary School Education School Age group 0-6 yrs 6-16 yrs 16-18 yrs 18+ yrs Geography # FTE* 5 156 3 417 3 681 1 366 Net sales split* 29% 25% 34% 13% *) 2021/22 7
Slide 8: Preschool Segment
Preschool Segment Higher costs due to inflation partially compensated by revenue growth and higher capacity utilisation • The number of children increased by 14.9 percent with Quarter results (MSEK) 2022/23 2021/22 Change growth in all countries, also included the acquisition of Net sales 1,386 1,12
Slide 9: Compulsory School Segment
Compulsory School Segment Continued growth, one school acquired in the quarter • The segment now comprises 117 compulsory schools Quarter results (MSEK) 2022/23 2021/22 Change and integrated preschools in Sweden under six profiles. Net sales 1,008 940 7.2% In the quarter, one new unit was acquired w
Slide 10: Upper Secondary School Segment
Upper Secondary School Segment Expansion impacts capacity utilisation and profitability, inflation drives cost • The segment comprises 152 upper secondary schools in Quarter results (MSEK) 2022/23 2021/22 Change Sweden under 16 brands. At the beginning of 2022/23, Net sales 1,385 1,280 8.2% two stat
Slide 11: Adult Education Segment
Adult Education Segment Continued lower demand for municipal education but cost cutting measures are showing effect • Net sales decreased by 7.8 percent to SEK 415 million (450), Quarter results (MSEK) 2022/23 2021/22 Change mainly due to contracting volumes in Municipal Adult Education Net sales 41
Slide 12: Financial position
Q 3 Financial position fAcademedia
Slide 13: Free cash flow and investments
Free cash flow and investments Strong free cash flow can fund investments in current operations and growth FCF as % of adj. EBITDA Capex and Maintenance capex as % of net sales MSEK MSEK 1 200 100% 1 200 4,0% 86% 90% 2,8% 1 000 77% 75% 75% 1 000 2,2% 3,0% 2,2% 2,1% 2,2% 80% 1,8% 121 1,8% 66% 1,7% 70
Slide 14: Financial position still strong
Financial position Financial position still strong SEK m 2022/23 31 Mar 2021/22 31 Change Total equity1 6,276 5,925 5.9% Net debt1 1,191 1,303 -8.6% • Net debt excluding IFRS 16 was lower than the same period Net debt (incl IFRS 16) 10,678 9,149 16.7% last year. Property related lease liabilities 9,
Slide 15: Financial performance vs targets
Financial performance vs targets Growth and Profitability just below the financial targets Q3 R12M Financial targets are unchanged (FY 21/22) • Annual revenue growth rate of 5-7% including organic growth 5.0%1 Growth 5-7% and smaller bolt-on acquisitions but excluding larger strategic acquisitions a
Slide 16: AcadeMedia
AcademMedia
Slide 17: Forward-looking statements disclaimer
This presentation may contain forward-looking statements which reflect AcadeMedia’s current view on future events and financial and operational development, and the current expectations of the AcadeMedia Group’s management. Forward- looking statements are all statements that do not relate to histori
Slide 18: Academedia - change through education
Academedia change through education