Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q4 2017/18 Earnings Presentation
15 slides from Academedia Ab's earnings presentation, Aug 29, 2018
Slide 1: Interim Report July - June 2018
Interim Report July - June 2018 2018-08-29 1
Slide 2: Today's presenters
Today’s presenters Marcus Strömberg Eola Änggård Runsten Chief Executive Officer Chief Financial Officer With AcadeMedia With AcadeMedia since 2005 since 2013 2
Slide 3: CEO introduction
CEO introduction • Continued good growth but lower margins. • Strong year for the Upper Secondary School and International Preschool segment. Acquisitions, organic growth, and improved capacity utilization are key factors. • Cost reductions and contract transitions in the Adult Education segment lea
Slide 4: Largest independent education provider in Northern Europe
Largest independent education provider in Northern Europe Overview Geographical presence and selected brands (Q4) • Largest independent educational services provider in Northern Europe Country Total • Comprehensive educational offering • Unique quality assurance model – key for sustainable growth St
Slide 5: Key highlights Q4 2017/18
Key highlights Q4 2017/18 Extensive restructuring efforts improve situation adult education segment Comments for Q4 2017/18 Key figures for Q4 2017/18 • Student numbers grew in school segments. • Growth in net sales was boosted by 2017/18 2016/17 Change strategic acquisitions. Organic growth # of St
Slide 6: Key highlights full year July-June 2017/18
Key highlights full year July-June 2017/18 Acquisitions and organic expansion render revenue growth, margins trailing Comments for July to June 2017/18 Key figures for July to June 2017/18 • Volumes increased in all school segments. 2017/18 2016/17 Change • Growth in net sales was reinforced by # of
Slide 7: Items affecting comparability
Items affecting comparability Negative and positive items from unforeseen events in the quarter Items affecting comparability Q4 Q4 Full yr Full yr Comments to full year figures (SEK m) 17/18 16/17 17/18 16/17 Restructuring charges in the Adult Restructuring expenses (adult) -38 - -38 - Education Se
Slide 8: Pre- and Compulsory Schools (Sweden)
Pre- and Compulsory Schools (Sweden) Margin pressure continues Comments for Q4 2017/18 Key figures for Q4 2017/18 • Margins are challenged by continued salary inflation not compensated by school vouchers 2017/18 2016/17 Change (0.2 per cent). In addition there is a small Net sales 1,082 1,025 5.6% n
Slide 9: Upper Secondary Schools (Sweden)
Upper Secondary Schools (Sweden) Strong growth and improved margins Comments for Q4 2017/18 Key figures for Q4 2017/18 • Overall student numbers increased by 27.1%. 2017/18 2016/17 Change • Net sales increased by 36.3% compared to the Net sales 920 675 36.3% same quarter last year. EBIT 87 64 35.9%
Slide 10: Adult Education (Sweden)
Adult Education (Sweden) Extensive restructuring measures improves cost level going Comments for Q4 2017/18 Key figures for Q4 2017/18 •• Revenues Net salesincreased decreased by 9,1 by percent 3.4%. mainly because the number of students increased by 6,0 percent 2017/18 2016/17 Change • Adj EBIT and
Slide 11: Preschools (International)
Preschools (International) Strong growth and margin improvement, mainly in Germany Comments for Q4 2017/18 Key figures for Q4 2017/18 • The number of children increased by 11.7%. 2017/18 2016/17 Change • Net sales growth for the quarter was 18.8% Net sales 593 499 18.8% following acquisitions as wel
Slide 12: Financial position
Financial position Stable financial position despite several smaller acquisitions Net debt and Net debt / Adj. EBITDA 3,3 3,1 Max 3.0 2,5 2,6 2,6 • Capital employed has increased during the 2,4 2,4 last 12 months by SEK 986 million mainly 2 629 2 342 2 342 2 382 due to acquisitions, but also investm
Slide 13: Seasonality varies between segments
Seasonality varies between segments Adult Education strongly affects consolidated operating margin Quarterly seasonality – Net sales and adj. EBIT 2014/15 – 2017/18 Comments • School segments SEKm 3 500 12% continue to show 2 967 2 993 3 000 2 508 2 540 2 610 2 813 10% normal seasonality, 2 500 2 14
Slide 14: Financial performance according to plan
Financial performance according to plan FY 17/18 Financial targets (FY 16/17) • Annual revenue growth rate of 5-7% including organic growth and smaller bolt-on acquisitions 5.8% Growth 5-7% but excluding larger strategic acquisitions and (9.0%) FX 6.2% Profitability 7-8% • Adj. EBIT margin of 7-8% o
Slide 15: Thank you – Any questions?
Thank you — Any questions? 15 AcademMedia