Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q2 2018/19 Earnings Presentation
15 slides from Academedia Ab's earnings presentation, Jan 31, 2019
Slide 1: Interim Report July - December 2018
Interim Report July - December 2018 2019-01-31 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 • First half year includes both progress and headwind • Good growth in the school segments. Especially the Upper Secondary School Segment had a very strong development and is set for further growth. • Vindora has been a financially successful acquisition. • The Adult Education Segme
Slide 4: Largest independent education provider in Northern Europe
Largest independent education provider in Northern Europe Overview Geographical presence and selected brands 17/18 • 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 Q2 2018/19
Key highlights Q2 2018/19 Very good growth in Upper Secondary School Segment Comments for Q2 2018/19 Key figures for Q2 2018/19 • Student numbers grew with 8.8 percent in school segments. 2018/19 2017/18 Change • Growth in net sales showed a solid organic # of Students 79,335 72,945 8.8% growth of 4
Slide 6: Key highlights Q2 2018/19 (cont.)
Key highlights Q2 2018/19 (cont.) Adult Education key component in EBIT decline (SEK million) Adj EBIT Pre- and Compulsory shool: Good volume growth but 167 continued high personnel expenses keep margins 17/18 under pressure. Pre- and Compulsory 2 Schools (SE) Upper Secondary Upper Secondary school:
Slide 7: 12 month rolling figures Q2 2018/19
12 month rolling figures Q2 2018/19 Strong growth. Earnings and margins decline due to Adult Comments for 12 month rolling figures Key figures for Q2 R12 2018/19 vs FY 2017/18 • 12 month rolling net sales are still at all 2018/19 Change time high thanks to acquisitions and R12 2017/18 volume growth.
Slide 8: Pre- and Compulsory Schools (Sweden)
Pre- and Compulsory Schools (Sweden) Stable development Comments for Q2 2018/19 Key figures for Q2 2018/19 • Good growth in net sales, as result of volume increases and annual voucher revisions. 2018/19 2017/18 Change Net sales 1,088 1,021 6.6% • Overall child numbers increased 3.2%. EBIT 42 40 5.0%
Slide 9: Upper Secondary Schools (Sweden)
Upper Secondary Schools (Sweden) Strong growth and margin improvement Comments for Q2 2018/19 Key figures for Q2 2018/19 • Student numbers increased by almost 13 2018/19 2017/18 Change percent. Net sales 1,011 845 19.6% • Net sales increased by 20 percent compared to the same quarter last year. EBIT
Slide 10: Adult Education (SE) – Market development
Adult Education (SE) – Market development Demand is shifting as labour market needs are changing Number of asylum seekers* 2011-2019 Komvux including SFI – funds payed out (SEK million) 162 877 +21% 8 865 7 877 13% 7 355 Basic KOMVUX 13% 13% Gymnasial vuxen- 81 301 och påbyggnadsutbildning 48% 54 25
Slide 11: Adult Education (Sweden)
Adult Education (Sweden) Mixed development where employment training has negative market Comments for Q2 2018/19 Key figures for Q2 2018/19 •• Revenues While theincreased municipal bytraining 9,1 percent andmainly because higher the number of vocational students training increased are by 6,0 doing w
Slide 12: Preschool International
Preschool International Good volume growth but margins are affected by high expansion rate Comments for Q2 2018/19 Key figures for Q2 2018/19 • The number of children increased by 13.8%, 2018/19 2017/18 Change mainly driven by organic growth, 8.6%. Net sales 589 488 20.7% • Net sales increased by 20
Slide 13: Financial position
Financial position Improved financial position versus last quarter Net debt and Net debt / Adj. EBITDA • Net working capital developed positively in 3,3 3,1 2,9 Max 3.0 2,7 the second quarter compared to the first 2,5 2,4 quarter 2018/19. This had a positive impact 2 629 2 649 2 405 on cash flow, ne
Slide 14: Financial performance vs targets
Financial performance vs targets Q2/R12M Financial targets (FY 17/18) • Annual revenue growth rate of 5-7% including organic growth and smaller bolt-on acquisitions 4.5%* Growth 5-7% but excluding larger strategic acquisitions and (5.8%) FX 5.4%* Profitability 7-8% • Adj. EBIT margin of 7-8% over ti
Slide 15: Thank you – Any questions?
Thank you — Any questions? 15 AcademMedia