Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q4 2019/20 Earnings Presentation
18 slides from Academedia Ab's earnings presentation, Aug 28, 2020
Slide 1: Year-end results presentation Q4
Year-end results presentation Q4 August 28, 2020 July 2019 – June 2020 Marcus Strömberg, CEO Katarina Wilson, CFO 1
Slide 2: CEO introduction
CEO introduction • Covid-19 has had a continued large operational impact but limited financial effect. • All preschools in Norway and Germany that closed in March, opened during the spring. Distance education continued in the upper secondary schools and in the adult education. • The operating profit
Slide 3: Highlights Q4: Adult Education and Upper Secondary School drive adjusted EBIT improvement
Highlights Q4 Adult Education and Upper Secondary School drive adjusted EBIT improvement • Student numbers grew by 3.8 percent in the school Key figures Q4 2019/20, excluding effects of IFRS 16 segments following organic growth including 2 new units in Germany and the acquisition of an integrated co
Slide 4: Highlights Q4: Adult Education and Upper Secondary School drive adjusted EBIT improvement
Highlights Q4 Adult Education and Upper Secondary School drive adjusted EBIT improvement Adj EBIT 18/19 232 Preschool: Increased staffing levels and higher pension costs in Norway continued to impact earnings. Lower parental fees in Germany due to Covid-19 Preschool 12 had a net effect on earnings o
Slide 5: Highlights full-year 2019/20: Adult Education drive strong improvement of operating profit
Highlights full-year 2019/20 Adult Education drive strong improvement of operating profit • In total, 26 new units were added during 2019/20, 20 new Key figures full-year 19/20 vs 18/19, excluding IFRS 16 units opened and six units were acquired. (MSEK) 2019/20 2018/19 Change • Student numbers grew
Slide 6: Highlights full-year 2019/20: Adult Education drive strong improvement of operating profit
Highlights full-year 2019/20 Adult Education drive strong improvement of operating profit Adj EBIT 18/19 634 Preschool: Increased staffing levels and higher pension costs in Norway impacted earnings. Moreover, lower parental fees in Germany due to Covid-19 Preschool 15 had a net effect of -8 MSEK. L
Slide 7: Segment reporting
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Slide 8: We operate throughout the education chain
4 business segments and presence in 3 countries We operate throughout the education chain Upper Compulsory Adult Preschool Secondary School Education School Age group 0-6 yrs 6-16 yrs 16-18 yrs 18+ yrs Geography # FTE* 4 788 3 083 3 292 1 331 Net sales split* 30% 24% 33% 13% *) 2019/20 8
Slide 9: Preschool Segment
Preschool Segment Covid-19 impact SEK -5 million on EBIT and new openings in Germany are delayed. New staffing regulation in Norway on plan • The segment includes preschools in Sweden (109 units), Quarter results (MSEK) 2019/20 2018/19 Change Norway (104) and Germany (49). Two new units opened in Ge
Slide 10: Compulsory School Segment
Compulsory School Segment Strong organic growth continued to delivered improved margins • The segment includes 111 compulsory schools and Quarter results (MSEK) 2019/20 2018/19 Change integrated preschools in Sweden under three brands. Net sales 809 780 3.7% • Number of students increased by 5.0 per
Slide 11: Upper Secondary School Segment
Upper Secondary School Segment Strong fourth quarter driven by temporary effects • The segment includes 143 upper secondary schools in Quarter results (MSEK) 2019/20 2018/19 Change Sweden under 14 brands. Net sales 1,049 990 6.0% • All upper secondary schools have conducted distance EBIT 121 84 44.0
Slide 12: Adult Education Segment
Adult Education Segment Profitable growth and continued positive margin development • All adult education transitioned to distance education in March but will gradually return to normal during the autumn. Quarter results (MSEK) 2019/20 2018/19 Change • Net sales increased by 6.0 percent in the quart
Slide 13: Financial position
Q4 2019/20 Financial position 13
Slide 14: 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% 75% 80% 1 200 4,0% 2,8% 900 70% 1 000 3,0% 2,2% 2,1% 800 1,7% 1,8% 52% 805 60% 800 2,0% 700 610 688
Slide 15: Financial position continues to improve
Financial position Financial position continues to improve • Net debt is lower than last year and has decreased since the 2019/20 2018/19 last quarter. Cash position unchanged. SEK m 30 June 30 June Change Total equity 4,925 4,589 7.3% • Leverage ratio improved from previous quarter and is lower tha
Slide 16: Financial performance vs targets
Financial performance vs targets Dividend of SEK 1.50 (1.25) per share proposed, corresponding to 29 percent (31) of net profit excluding IFRS 16 Q4 Financial targets are unchanged (FY 18/19) • Annual revenue growth rate of 5-7% including organic growth 5.4% Growth 5-7% and smaller bolt-on acquisiti
Slide 17: Thank you, questions?
Thank you, questions? 17
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 historic