Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q1 2025 Earnings Presentation
22 slides from Academedia Ab's earnings presentation, Oct 24, 2024
Slide 1: Interim report presentation Q1 July – September 2024
Interim report presentation Q1 October 24, 2024 July – September 2024 Marcus Strömberg, CEO Petter Sylvan, CFO 1
Slide 2: CEO introduction
CEO introduction • Net sales increased by 12.0 percent, 6,0 percent organically. • International growth continue to be strong, especially in Germany where we have 15 percent more students. Our 98th preschool opened in the quarter, and we plan to open our 100th preschool in Germany during Q2. • The f
Slide 3: Upper secondary school – conformity national tests and grades
Quality Upper secondary school – conformity national tests and grades Better conformity than national average and municipal principals National statistics – conformity national tests and grades 2023/24 5,3% 5,7% 5,4% Proportion lower 71,6% 70,8% 70,7% Proportion same Proportion higher 23,1% 23,5% 23
Slide 4: School inspectorate audits in 2023
Quality School inspectorate audits in 2023 27 percent of AcadeMedia’s schools have no areas of development, a result high above the national average of 19 percent Proportion of school units without development areas School inspectorate audits • The Swedish School Inspectorate is responsible to audit
Slide 5: Improved quality results among our compulsory schools
Quality Improved quality results among our compulsory schools Students with Students with upper passing grades % secondary school eligibility% Merit value 250,0 100 100 250 247,3 -0,2 95 95 +0,4 245 243,5 92,3 92,5 242,4 242,3 89,9 90,2 90,6 240 84,8 +1,3 85,6 86,2 235 85 85,0 85,2 85 83,9 83,7 -1,5
Slide 6: Strong growth, adjusted EBIT slightly improved in a small quarter
Highlights Q1 Strong growth, adjusted EBIT slightly improved in a small quarter • Student numbers grew by 8.5 percent. Key figures Q1 2024/25, excluding effects of IFRS 16 • Net sales increased by 12.0 percent and organic growth was (MSEK) 2024/25 2023/24 Change 6.0 percent, adjusted for currency ef
Slide 7: Strong growth, adjusted EBIT slightly improved in a small quarter
Highlights Q1 Strong growth, adjusted EBIT slightly improved in a small quarter Adj EBIT 23/24 151 Preschool & International: The acquisition of Touhula amplify the seasonal pattern of a small first quarter as preschools are closed. Higher school vouchers Preschool & Int. -11 in Germany compensate t
Slide 8: Continued growth with stable adjusted EBIT and margin
12 month rolling figures Q1 2024/25 Continued growth with stable adjusted EBIT and margin Key figures Q1 R12 2024/25, excluding effects of IFRS 16 • 12 month rolling net sales continue to grow and Oct 2023 – amounts to SEK 17.7 billion. (MSEK) Sep 2024 2023/24 Change* Net sales 17,744 17,332 2.4% •
Slide 9: Q1 Segment reporting
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Slide 10: We operate throughout the education chain
4 business segments and presence in 5 countries We operate throughout the education chain Upper Preschool & Compulsory Adult Secondary International School Education School Age group 0-6 yrs 6-16 yrs 16-18 yrs 18+ yrs Geography # FTE* 6 581 3 638 3 912 1 081 Net sales split* 35% 23% 32% 10% *) 2023/
Slide 11: Preschool and International Segment
Preschool and International Segment Acquisitions drive growth and amplify the seasonal pattern of a small first quarter • The number of children increased by 29.6 percent driven by Quarter results (MSEK) 2024/25 2023/24 Change international expansion. Net sales 1,452 1,165 24.6% • Net sales were SEK
Slide 12: Compulsory School Segment
Compulsory School Segment Acquisitions of four schools Quarter results (MSEK) 2024/25 2023/24 Change • Number of children and students increased by 2.3 percent. Net sales grew 7.6 percent as a result of increased number Net sales 860 799 7.6% of students and annual voucher revisions. EBIT 44 51 -13.
Slide 13: Upper Secondary School Segment
Upper Secondary School Segment Improved profitability following temporary lower costs and higher capacity utilisation • Student numbers increased by 0.4 percent. Capacity utilisation Quarter results (MSEK) 2024/25 2023/24 Change increased to 87.1 percent (86.9). Net sales 1,139 1,102 3.4% • Net sale
Slide 14: Adult Education Segment
Adult Education Segment First quarter continue to be the largest – Increased profit and margin due to continued growth in Vocational Education • Net sales increased by 7.1 percent to SEK 391 million (365), Quarter results (MSEK) 2024/25 2023/24 Change due to increased number of students in Higher Vo
Slide 15: Q1 Financial position
Q ] Financial position fAcademedia
Slide 16: 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 2,8% 3,0% 1 200 100% 86% 78% 90% 1 000 2,2% 2,2% 2,1% 2,5% 1 000 75% 75% 121 80% 1,8% 1,8% 25 66% 64% 800
Slide 17: Financial position remains strong
Financial position Financial position remains strong 2024/25 2023/24 SEK m 30 Sep 30 Sep Change Total equity 6,859 6,600 3.9% • Net debt excluding IFRS 16 was higher than last year. The Net debt (excl IFRS 16) 1,466 1,320 11.1% increase was related to acquisitions and share redemption Net debt (incl
Slide 18: Financial performance vs targets
Financial performance vs targets Growth above and Profitability just below the financial targets Q1 R12M Financial targets are unchanged (FY 23/24) • Annual revenue growth rate of 5-7% including organic growth 7.0%1 Growth 5-7% and smaller bolt-on acquisitions but excluding larger strategic acquisit
Slide 19: From the Board: voluntary share redemption program
From the Board The Board of AcadeMedia proposes a voluntary share redemption program • The Board of AcadeMedia has resolved to propose that the Annual General Meeting on 28 November 2024 resolves on a voluntary redemption program, in accordance with the intention to propose a voluntary redemption pr
Slide 20: Academedia
Academedia
Slide 21: 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 22: change through education
Academedia change through education