Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q1 2020/21 Earnings Presentation
17 slides from Academedia Ab's earnings presentation, Oct 23, 2020
Slide 1: Interim report presentation Q1
Interim report presentation Q1 October 23, 2020 July 2020 – September 2020 Marcus Strömberg, CEO Katarina Wilson, CFO 1
Slide 2: CEO introduction
CEO introduction • Organic revenue growth of 7,4 percent. • Nine new units have opened in the first quarter of 2020/21, four preschools, one integrated preschool included in the compulsory school segment, and four upper secondary schools. • Operating profit (adjusted EBIT) increased to SEK 151 milli
Slide 3: Highlights Q1
Highlights Q1 Adult Education volume increase, good student growth in the school segments and more vacation days increase EBIT • Student numbers grew by 5.1 percent in the school Key figures Q1 2020/21, excluding effects of IFRS 16 segments following organic growth. In total nine new units opened in
Slide 4: Highlights Q1: EBIT bridge by segment
Highlights Q1 Adult Education volume increase, good student growth in the school segments and more vacation days increase EBIT Adj EBIT 19/20 75 Preschool: Higher compensation for the staffing regulation in Norway and in Sweden continued work to increase capacity utilisation and staff planning Presc
Slide 5: Net sales R12 SEK 12.4 billion and EBIT SEK 850 million
12 month rolling figures Q1 2020/21 Net sales R12 SEK 12.4 billion and EBIT SEK 850 million Key figures Q1 R12 2020/21, excluding effects of IFRS 16 2020/21 (MSEK) 2019/20 Change* • 12 month rolling net sales continue to grow and is now R12 at SEK 12.4 billion. Net sales 12,410 12,271 1.1% • Rolling
Slide 6: Q1 Segment reporting
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Slide 7: 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 7
Slide 8: Preschool Segment
Preschool Segment Higher cost compensation in Norway and continued work to increase efficiency in Sweden • The segment has opened 4 new units in the quarter, one in Quarter results (MSEK) 2020/21 2019/20 Change Germany, one in Norway, and two in Sweden, which gives Net sales 755 755 0.0% a total of
Slide 9: Compulsory School Segment
Compulsory School Segment Number of students increased by 6,0% • The segment includes 112 compulsory schools and Quarter results (MSEK) 2020/21 2019/20 Change integrated preschools in Sweden under three brands. Net sales 644 594 8.4% Number of children and students increased by 6.0 percent due to mo
Slide 10: Upper Secondary School Segment
Upper Secondary School Segment Number of students increased by 5,6% • The segment opened 4 new units in the quarter and now Quarter results (MSEK) 2020/21 2019/20 Change includes 147 upper secondary schools in Sweden under 13 Net sales 856 814 5.2% brands. EBIT 81 60 35.0% • All upper secondary scho
Slide 11: Adult Education Segment
Adult Education Segment Rapid volume growth impacts the margin • Rising unemployment has created a high demand for adult education resulting in exceptionally rapid volume increase. Quarter results (MSEK) 2020/21 2019/20 Change • All adult education has gradually started to returned to Net sales 385
Slide 12: Financial position
Q1 2020/21 Financial position 12
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 MSEK MSEK 1 000 77% 75% 75% 77% 80% 1 200 4,0% 900 2,8% 70% 1 000 3,0% 885 2,2% 2,1% 800 1,8% 1,9% 52% 60% 800 1,7% 700 805
Slide 14: Financial position
Financial position Financial position continues to improve • Cash flow is negative at the beginning of the school year, a 2020/21 2019/20 normal seasonal effect mainly related to working capital. SEK m 30 Sep 30 Sep Change However the strong operating profit in the quarter reduced Total equity 5,038
Slide 15: Financial performance vs targets
Financial performance vs targets Performance largely in line with targets, margin improving further Q1 R12M Financial targets are unchanged (FY 19/20) • Annual revenue growth rate of 5-7% including organic growth 5.6%1 Growth 5-7% and smaller bolt-on acquisitions but excluding larger strategic acqui
Slide 16: Thank you, questions?
Thank you, questions? 16
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