Academedia Ab · OMXSTO:ACAD
Academedia Ab — Q1 2024 Earnings Presentation
18 slides from Academedia Ab's earnings presentation, Oct 24, 2024
Slide 1: Interim report presentation Q1 July–September 2023
Interim report presentation Q1 October 25, 2023 July – September 2023 Marcus Strömberg, CEO Katarina Wilson, deputy CEO and COO 1
Slide 2: CEO introduction
CEO introduction • 2023/24 started with more than 100,000 children and students and net sales increased by 10.5 percent. • Strong development and growth in the Higher Vocational Education business and restructuring in the Municipal Adult Education has had a positive effect. • The international expan
Slide 3: Highlights Q1: Strong growth, adjusted EBIT in line with last year
Highlights Q1 Strong growth, adjusted EBIT in line with last year Key figures Q1 2023/24, excluding effects of IFRS 16 • Student numbers grew by 5.1 percent. • Net sales increased by 10.5 percent and organic growth (MSEK) 2023/24 2022/23 Change was 6.5 percent, adjusted for positive currency effects
Slide 4: Strong growth, adjusted EBIT in line with last year
Highlights Q1 Strong growth, adjusted EBIT in line with last year Adj EBIT 22/23 151 Preschool & International: Improved adjusted EBIT and margin despite inflation Preschool & Int. 3 and higher maintenance cost in Norway. Compulsory 0 School Compulsory School: Adjusted EBIT stable despite continued
Slide 5: Continued growth with stable adjusted EBIT and margin
12 month rolling figures Q1 2023/24 Continued growth with stable adjusted EBIT and margin Key figures Q1 R12 2023/24, excluding effects of IFRS 16 • 12 month rolling net sales continue to grow and Oct 2022 – amounts to SEK 15.9 billion. (MSEK) Sep 2023 2022/23 Change* Net sales 15,865 15,539 2.1% •
Slide 6: Q1 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 Preschool Compulsory Adult Secondary & Int School Education School Age group 0-6 yrs 6-16 yrs 16-18 yrs 18+ yrs Geography # FTE* 5 797 3 498 3 831 1 139 Net sales split* 32% 24% 33% 10% *) 2022/23 7
Slide 8: Preschool and International Segment
Preschool and International Segment Adjusted EBIT and margin stable despite inflation and higher maintenance cost • This Segment changes its name to "Preschool and Quarter results (MSEK) 2023/24 2022/23 Change International Segment” to better reflect the recent acquisition of Net sales 1,165 956 21.
Slide 9: Compulsory School Segment
Compulsory School Segment Acquisition of two schools, adjusted EBIT stable despite continued inflation Quarter results (MSEK) 2023/24 2022/23 Change • The segment includes 118 compulsory schools and integrated preschools in Sweden under six profiles. Two Net sales 799 746 7.1% schools acquired in th
Slide 10: Upper Secondary School Segment
Upper Secondary School Segment Increased capacity utilisation, continued inflation impacts profitability • The segment includes 149 upper secondary schools in Quarter results (MSEK) 2023/24 2022/23 Change Sweden under 16 brands. One new unit opened at the Net sales 1,102 1,025 7.5% beginning of the
Slide 11: Adult Education Segment
Adult Education Segment Continued growth in Vocational Education, profitability positively impacted by capacity adjustments in the Municipal business • Net sales decreased by 3.2 percent to SEK 365 million (377), Quarter results (MSEK) 2023/24 2022/23 Change due to lower volumes in the Municipal Adu
Slide 12: Q1 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 SEK m SEK m 1 200 4,0% 1 200 100% 86% 2,8% 77% 90% 1 000 3,0% 1 000 75% 75% 2,2% 2,2% 2,1% 80% 1,7% 1,8% 121 1,8% 1,8% 1,8%
Slide 14: Financial position remains strong
Financial position Financial position remains strong 2023/24 2022/23 SEK m 30 Sep 30 Sep Change Total equity 6,600 6,156 7.2% • Cash flow is negative at the beginning of the school year, a Net debt 1,320 1,309 0.8% normal seasonal effect mainly related to working capital. Net debt (incl IFRS 16) 11,
Slide 15: Financial performance vs targets
Financial performance vs targets Growth above and Profitability just below the financial targets Q1 R12M Financial targets are unchanged (FY 22/23) • Annual revenue growth rate of 5-7% including organic growth 6.5%1 Growth 5-7% and smaller bolt-on acquisitions but excluding larger strategic acquisit
Slide 16: AcadeMedia
AcademMedia
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: Academedia – change through education
Academedia change through education