Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q4 2020/21 Earnings Presentation
18 slides from Academedia Ab's earnings presentation, Aug 31, 2021
Slide 1: Interim report presentation Q4
Interim report presentation Q4 August 31, 2021 July 2020 – June 2021 Marcus Strömberg, CEO Katarina Wilson, CFO 1
Slide 2: CEO introduction
CEO introduction • 2020/21 was a strong year, organic revenue growth of 8.1 percent, operating profit increased to SEK 934 million and the margin increased to 7.0 percent. • AcadeMedia’s adult education saw exceptional volume growth during the year and has never been stronger. • In the last quarter
Slide 3: Highlights Q4
Highlights Q4 Higher activity levels and less vacation drove cost • Student numbers grew by 8.5 percent. • Net sales increased by 13.8 percent and the organic growth Key figures Q4 2020/21, excluding effects of IFRS 16 was 10.4 percent, adjusted for positive currency effects and (MSEK) 2020/21 2019/
Slide 4: Highlights Q4: Higher activity levels and less vacation drove cost
Highlights Q4 Higher activity levels and less vacation drove cost Preschool: Increased school vouchers in Norway (4.4 percent) offset higher Adj EBIT 19/20 279 pension cost in Norway and higher maintenance cost in Sweden. German operation is improving with capacity utilisation returning to pre-covid
Slide 5: Highlights full year 2020/21
Highlights full year 2020/21 Strong growth and positive margin development • Student numbers grew by 6.5 percent in the school segments, driven by acquisitions, organic growth including Key figures full year 2020/21, excluding effects of IFRS 16 bolt-on acquisitions, and new establishments. In total
Slide 6: Highlights full year 2020/21
Highlights full year 2020/21 Strong growth and positive margin development Adj EBIT 19/20 728 Preschool: Higher school voucher in Norway and good staff planning in Sweden offset higher pension costs in Norway and temporarily reduced Preschool 2 capacity utilisation in Germany due to the pandemic. Co
Slide 7: Q4 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* 4 987 3 276 3 469 1 400 Net sales split* 29% 24% 33% 14% *) 2020/21 8
Slide 9: Preschool Segment
Preschool Segment Capacity utilisation returning to pre-covid levels in Germany, higher costs in Sweden and Norway impact operating profit • Two new units opened in Germany and one preschool was Quarter results (MSEK) 2020/21 2019/20 Change acquired in Norway in the quarter, which gives a total of 2
Slide 10: Compulsory School Segment
Compulsory School Segment Higher activity levels and higher personnel costs impact earnings in the quarter • The segment includes 116 compulsory schools and Quarter results (MSEK) 2020/21 2019/20 Change integrated preschools in Sweden. Net sales 888 809 9.8% • The number of children and students inc
Slide 11: Upper Secondary School Segment
Upper Secondary School Segment Student numbers increased by 12.6% driven by the acquisition of Segab as well as organic growth • The Upper Secondary School Segment includes 150 Quarter results (MSEK) 2020/21 2019/20 Change schools in Sweden. Net sales 1 223 1 049 16.6% • Student numbers increased by
Slide 12: Adult Education Segment
Adult Education Segment High volume and capacity utilization continue to impact earnings and margin. The acquisition of Segab contributed to the growth. • Net sales increased by 21.5 percent where the acquisition of Quarter results (MSEK) 2020/21 2019/20 Change KYH, part of Segab, contributed 5.3 pe
Slide 13: Q4 Financial position
Q4 2020/21 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 1 200 100% 86% 1 200 0.4% 90% 1 000 77% 75% 75% 1 117 1 000 2,8% 80% 0.3% 2,2% 2,1% 70% 800 1,7% 1,8% 1,8% 800 0.
Slide 15: Financial position
Financial position Financial position continues to improve • Net debt is significantly lower than last year. 2020/21 2019/20 SEK m 30 June 30 June Change • Leverage ratio improved from previous quarter and is Total equity 5,529 4,925 12.3% lower than last year 0.9x (1.7) and well below AcadeMedia’s
Slide 16: Financial performance vs targets
Financial performance vs targets Dividend of SEK 1.75 (1.50) per share proposed, corresponding to 27 percent (29) of net profit excluding IFRS 16 2020/21 Financial targets are unchanged (19/20) • Annual revenue growth rate of 5-7% including organic growth 8.1% Growth 5-7% and smaller bolt-on acquisi
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