Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q3 2018/19 Earnings Presentation
15 slides from Academedia Ab's earnings presentation, May 7, 2019
Slide 1: Interim Report July 2018 - March 2019
Interim Report July 2018 - March 2019 2019-05-07 1
Slide 2: Today's presenters
Today’s presenters Marcus Strömberg Eola Änggård Runsten Chief Executive Officer Chief Financial Officer With AcadeMedia With AcadeMedia since 2005 since 2013 2
Slide 3: CEO introduction
CEO introduction • Improved earnings in the school segments and continued growth in the number of students • Margins stabilizing in the school segments • The Adult Education Segment continues to be challenged by the changes at the Swedish Public Employment Service • Optimization of preschool portfol
Slide 4: Largest independent education provider in Northern Europe
Largest independent education provider in Northern Europe Overview Geographical presence and selected brands 17/18 • Largest independent educational services provider in Northern Europe Country Total • Comprehensive educational offering • Unique quality assurance model – key for sustainable growth S
Slide 5: Key highlights Q3 2018/19
Key highlights Q3 2018/19 Improved earnings and continued growth in number of students Comments for Q3 2018/19 Key figures for Q3 2018/19 • Student numbers grew with 4.8 percent in school segments. 2018/19 2017/18 Change • Growth in net sales showed a solid organic # of Students 79,873 76,188 4.8% g
Slide 6: Key highlights Q3 2018/19 (cont.)
Key highlights Q3 2018/19 (cont.) Retroactive revenues key component in EBIT improvement (SEK million) Adj EBIT Pre- and Compulsory school: Stable volume growth, 214 17/18 EBIT and margins. Personnel expenses remain high. Pre- and Compulsory 3 Schools (SE) Upper Secondary Upper Secondary school: Str
Slide 7: 12 month rolling figures Q3 2018/19
12 month rolling figures Q3 2018/19 Strong growth. Earnings and margins affected by Adult Education Comments for 12 month rolling figures Key figures for Q3 R12 2018/19 vs FY 2017/18 • 12 month rolling net sales are still at all 2018/19 Change time high thanks to acquisitions and R12 2017/18 volume
Slide 8: Pre- and Compulsory Schools (Sweden)
Pre- and Compulsory Schools (Sweden) Stable growth and margins Comments for Q3 2018/19 Key figures for Q3 2018/19 • Overall child numbers increased 1.8%. 2018/19 2017/18 Change • Good growth in net sales, as a result of volume Net sales 1,107 1,049 5.5% increases and annual voucher revisions. EBIT 6
Slide 9: Upper Secondary Schools (Sweden)
Upper Secondary Schools (Sweden) Strong growth and margin improvement Comments for Q3 2018/19 Key figures for Q3 2018/19 • A strong quarter driven by volume growth, 6.2 2018/19 2017/18 Change percent. Net sales increased by 8.6 percent. Net sales 1,006 926 8.6% • New establishments in 2018 and 2017
Slide 10: Adult Education (Sweden)
Adult Education (Sweden) Mixed development. Labour market education continues to face headwind Comments for Q3 2018/19 Key figures for Q3 2018/19 •• Revenues Net salesincreased decreasedby 9,1 by percent 11.7% mainly because and adjusted the EBITnumber of studentsEBIT-margin and adjusted increased b
Slide 11: Preschool International
Preschool International Good volume growth, but margins are affected by pension expenses Comments for Q3 2018/19 Key figures for Q3 2018/19 • The number of children increased by 9.7 2018/19 2017/18 Change percent. Net sales 626 545 14.9% • Net sales increased by 14.9 percent, primarily driven by vol
Slide 12: In-depth Norwegian Preschool
In-depth Norwegian Preschool A short-term dip in earnings is expected • In May 2018, the Norwegian Parliament The teacher density norm (“pedagognorm”) (Stortinget) resolved on regulations of staff and The teacher density norm requires at least one pedagogical teacher density in preschools. leader pe
Slide 13: Financial position
Financial position Improved financial position versus last quarter Net debt and Net debt / Adj. EBITDA • Cash-flow from operations improved to 264 Max 3.0 3,1 2,9 (220) MSEK in the third quarter. 2,5 2,4 2,7 2,8 • Change in net working capital was negative 2 342 2 133 2 179 2 649 2 405 2 505 -136 (-
Slide 14: Financial performance vs targets
Financial performance vs targets Q3/R12M Financial targets (FY 17/18) • Annual revenue growth rate of 5-7% including organic growth and smaller bolt-on acquisitions 4.1%* Growth 5-7% but excluding larger strategic acquisitions and (5.8%) FX 5.3%* Profitability 7-8% • Adj. EBIT margin of 7-8% over ti
Slide 15: Thank you – Any questions?
Thank you — Any questions? 15 AcademMedia