Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q2 2023 Earnings Presentation
18 slides from Academedia Ab's earnings presentation, Feb 1, 2023
Slide 1: Interim report presentation Q2 July–December 2022
Interim report presentation Q2 February 2, 2023 July – December 2022 Marcus Strömberg, CEO Katarina Wilson, CFO 1
Slide 2: CEO introduction
CEO introduction • Continued strong demand, the number of children and students increased by 5.9 percent and in the Preschool segment by 13.0 percent including the acquisition of FAWZ in Germany. • Preliminary school voucher increase of 4 percent (2.6) in Sweden for 2023 reflecting higher inflation.
Slide 3: Highlights Q2
Highlights Q2 Lower volumes in Adult Education Segment, inflation and expansion impact profitability Key figures Q2 2022/23, excluding effects of IFRS 16 • Student numbers grew by 5.9 percent. • Net sales increased by 7.1 percent, organic growth was (MSEK) 2022/23 2021/22 Change 4.3 percent, adjuste
Slide 4: Highlights Q2: EBIT bridge by segment
Highlights Q2 Lower volumes in Adult Education Segment, inflation and expansion impact profitability Adj EBIT 21/22 263 Preschool: Acquisitions, (FAWZ, Sandviks and in the Netherlands) and Preschool 4 increased capacity utilisation in Sweden and Norway are offsetting inflation and lower pension comp
Slide 5: Rolling 12 month figures Q2 2022/23
12 month rolling figures Q2 2022/23 Continued growth, EBIT affected by lower volumes in the Adult Education Segment and inflation Key figures Q2 R12 2022/23, excluding effects of IFRS 16 • 12 month rolling net sales continue to grow and are Jan 2022 – now at SEK 14.8 billion. (MSEK) Dec 2022 2021/22
Slide 6: Q2 Segment reporting
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Slide 7: We operate throughout the education chain
4 business segments and presence in 4 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* 5 156 3 417 3 681 1 366 Net sales split* 29% 25% 34% 13% *) 2021/22 7
Slide 8: Preschool Segment
Preschool Segment Acquisitions and higher capacity utilisation in Sweden and Norway are offsetting inflation • The number of children increased by 13,0 percent with Quarter results (MSEK) 2022/23 2021/22 Change growth in all countries, also included the acquisition of Net sales 1,252 1,061 18.1% FAW
Slide 9: Compulsory School Segment
Compulsory School Segment Capacity expansion and inflation impact earnings • The segment includes 116 compulsory schools and Quarter results (MSEK) 2022/23 2021/22 Change integrated preschools in Sweden under six profiles. One Net sales 986 937 5.2% new unit opened in the first quarter and several u
Slide 10: Upper Secondary School Segment
Upper Secondary School Segment Expansion impacts capacity utilisation and profitability, inflation drives cost • Two state of the art campuses opened in Stockholm and 3 Quarter results (MSEK) 2022/23 2021/22 Change further new units opened at the beginning of the 2022/23 Net sales 1,361 1,278 6.5% s
Slide 11: Adult Education Segment
Adult Education Segment Lower demand for municipal education drives revenue and EBIT decrease • Net sales decreased by 12.0 percent to SEK 438 million (498), Quarter results (MSEK) 2022/23 2021/22 Change mainly due to contracting volumes in Municipal Adult Education Net sales 438 498 -12.0% where ne
Slide 12: Q2 Financial position
Q ? Financial position fAcademedia
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 1 200 100% 1 200 4,0% 86% 2,8% 77% 90% 1 000 3,0% 1 000 75% 75% 2,2% 2,2% 2,1% 2,2% 80% 1,7% 1,8% 121 1,8% 66% 80
Slide 14: Financial position still strong
Financial position Financial position still strong SEK m 2022/23 31 Dec 2021/22 31 Dec Change Total equity1 6,117 5,668 7.9% Net debt1 1,357 1,216 11.6% • Net debt excluding IFRS 16 was higher than the same Net debt (incl IFRS 16) 10,409 9,324 11.6% period last year. Property related lease liabiliti
Slide 15: Financial performance vs targets
Financial performance vs targets Growth and Profitability just below the financial targets Q2 R12M Financial targets are unchanged (FY 21/22) • Annual revenue growth rate of 5-7% including organic growth 4.3%1 Growth 5-7% and smaller bolt-on acquisitions but excluding larger strategic acquisitions a
Slide 16: Academedia
Academedia
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 histori
Slide 18: Change through education
~Academedia change through education