Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q3 2019/20 Earnings Presentation
17 slides from Academedia Ab's earnings presentation, May 5, 2020
Slide 1: Interim Report July 2019 – March 2020
Interim Report July 2019 – March 2020 2020-05-05 1
Slide 2: Today’s presenters
Today’s presenters Marcus Strömberg Katarina Wilson Chief Executive Officer Chief Financial Officer With AcadeMedia With AcadeMedia since 2005 since 2016 2
Slide 3: CEO introduction
CEO introduction • The corona outbreak has had a large operational impact but limited financial effect. Our goal has been to decrease the spread of the virus while still providing care and education to our children, students and adult education participants. • All our 36,000 upper secondary school s
Slide 4: Largest independent education provider in Northern Europe
Largest independent education provider in Northern Europe Overview Geographical presence and selected brands 18/19 • Largest independent educational services provider in Northern Europe Country Total • Comprehensive educational offering • Unique quality assurance model – key for sustainable growth S
Slide 5: Key highlights Q3 2019/20
Key highlights Q3 2019/20 Adult Education and Compulsory School drive adj. EBIT improvement Comments for Q3 2019/20 Key figures for Q3 2019/20, excluding effects of IFRS 16 • Student numbers grew by 3.8 percent in school segments following organic growth 2019/20 2018/19 Change including 3 new units
Slide 6: Key highlights Q3 2019/20 (cont.)
Key highlights Q3 2019/20 (cont.) Adult and Compulsory Schools continue to drive adj. EBIT improvement (SEK million) Preschool: Increased staffing levels and higher Adj EBIT 18/19 210 pension costs in Norway continue to impact earnings. Preschool 4 Compulsory School: Higher capacity utilization from
Slide 7: 12 month rolling figures Q3 2019/20
12 month rolling figures Q3 2019/20 Net sales R12 over SEK 12 billion and EBIT R12 at all time high Comments for 12 month rolling figures Key figures for Q3 R12 2019/20 vs FY 2018/19 • 12 month rolling net sales continue to grow 2019/20 Change* and is now well above SEK 12 billion. R12 2018/19 Net s
Slide 8: Preschools
Preschools New staffing regulation in Norway on plan, Corona impact SEK 3 million Comments for Q3 2019/20 Key figures for Q3 2019/20 • The segment includes preschools in Sweden (109 units), Norway (104) and Germany (47). Three new 2019/20 2018/19 Change units opened in Germany in the period which gi
Slide 9: Compulsory Schools
Compulsory Schools Strong organic growth delivered improved margins Comments for Q3 2019/20 Key figures for Q3 2019/20 • Segment created 1 July 2019 includes 109 compulsory schools in Sweden under three 2019/20 2018/19 Change brands. Net sales 801 760 5.4% • Number of students increased by 3.8 perce
Slide 10: Upper Secondary Schools
Upper Secondary Schools Earnings affected by continued effort to increase quality at Praktiska Comments for Q3 2019/20 Key figures for Q3 2019/20 • Student numbers increased by 5.2 percent as a 2019/20 2018/19 Change result of 14 new schools that in total started over the last three years of which f
Slide 11: Adult Education
Adult Education Profitable growth and continued positive margin development Comments for Q3 2019/20 Key figures for Q3 2019/20 •• Revenues Net salesincreased increased by by 9,14.6 percent mainly percent inbecause the the number of students increased by 6,0 percent 2019/20 2018/19 Change quarter. •
Slide 12: 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 1 000 77% 75% 80% 1 200 4,0% 900 2,8% 70% 1 000 3,0% 2,2% 2,1% 800 60% 1,7% 1,8% 60% 800 2,0% 700 52% 610 688 50%
Slide 13: Financial position
Financial position Financial position improvement Net debt and Net debt / Adj. EBITDA • Net debt is lower than last year and has 3,1 Max 3.0 decreased since the last quarter. 2,5 2,4 2,4 2,6 2,5 2,3 • Leverage ratio improved from previous 2 544 2 490 quarter and is lower than the same period 2 342 2
Slide 14: Financial performance vs targets
Financial performance vs targets Performance largely in line with targets. Margin improving Q3/R12M Financial targets are unchanged (FY 18/19) • Annual revenue growth rate of 5-7% including organic growth and smaller bolt-on acquisitions 5.8%1 Growth 5-7% but excluding larger strategic acquisitions
Slide 15: IFRS 16 leasing has no commercial impact
IFRS 16 leasing has no commercial impact • The implementation of IFRS 16 has a large impact on AcadeMedia’s financial reporting. This involves recalculating operational leases, primarily leased premises, as if they were debt financed assets on the balance sheet. • IFRS 16 has impacted the financial
Slide 16: Thank you, questions?
Thank you, questions?
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 historic