Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q2 2024 Earnings Presentation
19 slides from Academedia Ab's earnings presentation, Feb 1, 2024
Slide 1: Interim report presentation Q2 July – December 2023
Interim report presentation Q2 February 1, 2024 July – December 2023 Katarina Wilson, acting CEO and COO Hanna Clausén, acting CFO 1
Slide 2: CEO introduction
CEO introduction • Strong demand, net sales increased by 9.7 percent. • Increased earnings and margin in the Adult Education Segment following successful transition of the municipal education and increased volumes in higher vocational education. • AcadeMedia’s higher vocational education was awarded
Slide 3: Strong growth, adjusted EBIT in line with last year
Highlights Q2 Strong growth, adjusted EBIT in line with last year • Student numbers grew by 3.6 percent. Key figures Q2 2023/24, excluding effects of IFRS 16 • Net sales increased by 9.7 percent and organic growth was (MSEK) 2023/24 2022/23 Change 8.5 percent, adjusted for negative currency effect -
Slide 4: Strong growth, adjusted EBIT in line with last year
Highlights Q2 Strong growth, adjusted EBIT in line with last year Adj EBIT 22/23 203 Preschool & International: Improved adjusted EBIT and margin despite inflation Preschool & Int. 5 and higher cost for temporary staff caused by increased sick leave. Acquisitions contributed SEK 5 million. Compulsor
Slide 5: Continued growth with stable adjusted EBIT
12 month rolling figures Q2 2023/24 Continued growth with stable adjusted EBIT Key figures Q2 R12 2023/24, excluding effects of IFRS 16 • 12 month rolling net sales continue to grow and Jan 2023 – amounts to SEK 16.3 billion. (MSEK) Dec 2023 2022/23 Change* Net sales 16,256 15,539 4.6% • Rolling 12-
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 Preschool Compulsory Adult Secondary & Int School Education School Age group 0-6 yrs 6-16 yrs 16-18 yrs 18+ yrs Geography # FTE* 5 797 3 498 3 831 1 139 Net sales split* 32% 24% 33% 10% *) 2022/23 7
Slide 8: Preschool and International Segment
Preschool and International Segment Higher adjusted EBIT and margin despite inflation and higher staff costs due to higher sickness rate • The number of children increased by 6.5 percent driven by Quarter results (MSEK) 2023/24 2022/23 Change acquisitions and new preschools in Germany and in the Net
Slide 9: Compulsory School Segment
Compulsory School Segment Adjusted EBIT stable despite continued inflation, offset by increased capacity utilization and acquisitions Quarter results (MSEK) 2023/24 2022/23 Change • The segment includes 118 compulsory schools and integrated preschools in Sweden under six profiles. Net sales 1,091 98
Slide 10: Upper Secondary School Segment
Upper Secondary School Segment Continued inflation impacts profitability, capacity utilisation increased • The segment includes 149 upper secondary schools in Sweden under 16 brands. One new unit opened at the beginning of the Quarter results (MSEK) 2023/24 2022/23 Change new school year. Net sales
Slide 11: Adult Education Segment
Adult Education Segment Increased profit and margin due to continued growth in Vocational Education and transition of the Municipal business • Net sales increased by 8.0 percent to SEK 473 million (438), Quarter results (MSEK) 2023/24 2022/23 Change due to increased number of students in Higher Voca
Slide 12: Financial position
Q ? 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 SEK m SEK m 1 200 100% 1 200 4,0% 86% 2,8% 77% 90% 1 000 3,0% 1 000 75% 75% 2,2% 2,2% 80% 2,1% 66% 68% 1,7% 1,8% 121 1,8% 1
Slide 14: Financial position remains strong
Financial position Financial position remains strong 2023/24 2022/23 SEK m 31 Dec 31 Dec Change Total equity 6,520 6,117 6.6% • Net debt excluding IFRS 16 was lower than last year. Net debt 1,060 1,357 -21.9% • Net debt including IFRS 16 lease liabilities was higher than Net debt (incl IFRS 16) 10,6
Slide 15: Financial performance vs targets
Financial performance vs targets Growth above and Profitability just below the financial targets Q2 R12M Financial targets are unchanged (FY 22/23) • Annual revenue growth rate of 5-7% including organic growth 7.6%1 Growth 5-7% and smaller bolt-on acquisitions but excluding larger strategic acquisit
Slide 16: Voluntary share redemption program to be launched during the third quarter
The 2023 Annual General Meeting Voluntary share redemption program to be launched during the third quarter • The 2023 Annual General Meeting resolved on a voluntary share redemption program consisting of a reduction of the share capital for repayment to the shareholders, as well as a bonus issue wit
Slide 17: AcadeMedia
AcademMedia
Slide 18: 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 19: Change through education
Academedia change through education