Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q2 2020/21 Earnings Presentation
17 slides from Academedia Ab's earnings presentation, Feb 3, 2021
Slide 1: Interim report presentation Q2 July 2020 – December 2020
Interim report presentation Q2 February 3, 2021 July 2020 – December 2020 Marcus Strömberg, CEO Katarina Wilson, CFO 1
Slide 2: CEO introduction
CEO introduction • Organic revenue growth of 7,3 percent. • Three new preschools opened in Germany and the acquisition of Swedish Education Group was completed in the quarter. • Adjusted operating profit (adjusted EBIT) increased to SEK 224 million (150) largely due to continued strong demand in the
Slide 3: Highlights Q2
Highlights Q2 Adult Education volume increase, good student growth in the school segments and cancelled activities impact EBIT • Student numbers grew by 4.4 percent in the school Key figures Q2 2020/21, excluding effects of IFRS 16 segments following organic growth. Three new preschools opened in Ge
Slide 4: Highlights Q2: Adj EBIT bridge by segment
Highlights Q2 Adult Education volume increase, good student growth in the school segments and cancelled activities impact EBIT Adj EBIT 19/20 150 Preschool: The pandemic is impacting Germany where lower capacity utilisation is cased by difficulties recruiting staff but also parents delaying Preschoo
Slide 5: Adjusted EBIT margin reaches the profitability target of 7 percent
12 month rolling figures Q2 2020/21 Adjusted EBIT margin reaches the profitability target of 7 percent Key figures Q2 R12 2020/21, excluding effects of IFRS 16 • 12 month rolling net sales continue to grow and is now (MSEK) 2020/21 2019/20 Change* at SEK 12.6 billion. R12 Net sales 12,589 12,271 2.6
Slide 6: Q2 Segment reporting
pysslingen FORSKOLOR nh ® HAGSTROMSKA GYMNASIET espira puri Stn (5) enawoscrmesier @ Gespirs "gem, ©ECUTBILONING = Kingerbetreuung il SALJ & MARKNADSHUGSKOLAN Y, Segment reporting (Wrievmnasier «or ytmus PRAKTISKA = TIERS sutt. DIDAKTUS eductus fAcademedia Bau joki ans = © Bites @terrnos
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 Lower capacity utilisation in Germany due to the pandemic impact earnings negatively • Three new units in Germany opened in the quarter and two Quarter results (MSEK) 2020/21 2019/20 Change units in Sweden were closed, which gives a total of 267 Net sales 958 981 -2.3% units. Swede
Slide 9: Compulsory School Segment
Compulsory School Segment Number of students increased by 4.8% • The segment includes 112 compulsory schools and Quarter results (MSEK) 2020/21 2019/20 Change integrated preschools in Sweden under five brands. Net sales 851 801 6.2% • Number of children and students increased by 4.8 percent EBIT 52
Slide 10: Upper Secondary School Segment
Upper Secondary School Segment Number of students increased by 5.8% • The Upper Secondary School Segment includes 146 schools Quarter results (MSEK) 2020/21 2019/20 Change in Sweden. Four units opened at the beginning of this Net sales 1,142 1,072 6.5% financial year and 18 units have opened in tota
Slide 11: Adult Education Segment
Adult Education Segment High volumes and good capacity utilization impact earnings and margin • Rising unemployment has continued to create high demand for Quarter results (MSEK) 2020/21 2019/20 Change adult education with continued volume increase. Net sales 484 403 20.1% • Net sales increased by 2
Slide 12: Financial position
Q2 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 1 200 120% 1 200 4% 1 196 1 000 2,8% 1 000 100% 3% 2,2% 2,1% 77% 75% 75% 98% 800 1,7% 1,8% 1,8% 800 80% 2% 805 61
Slide 14: Financial position continues to improve
Financial position Financial position continues to improve • Net debt is significantly lower than the same period last year. 2020/21 2019/20 Cash position improved. SEK m 31 Dec 31 Dec Change Total equity 5,041 4,594 9.7% • Leverage ratio improved from previous quarter and is lower than the same per
Slide 15: Financial performance vs targets
Financial performance vs targets Profitability target achieved. All targets are now reached Q2 R12M Financial targets are unchanged (FY 19/20) • Annual revenue growth rate of 5-7% including organic growth 5.9%1 Growth 5-7% and smaller bolt-on acquisitions but excluding larger strategic acquisitions
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