The Tellus Group Releases Its Quarterly Report for Q1 2025

Published: May 16, 2025

Other, IR - Regulatory, Operations

Tellusgruppen AB (publ.) reported improved profitability in the first quarter, with adjusted EBITDA of SEK 3.2 million (-3.6), corresponding to a margin of 2.4 percent (-3.0). Revenue increased by 8.7 percent to SEK 131.6 million (121.1). The increase in revenue is attributable to a combination of organic growth and acquisitions.

In the first quarter of 2025, the Tellus Group continued the positive trend in profitability reported in 2024.

“We are strengthening profitability in our key business areas. The results for the first quarter show a clear improvement compared with the same period last year. This confirms that our strategic initiatives and long-term efficiency efforts are paying off,” says Bijan Fahimi, CEO of the Tellus Group.

Bijan Fahimi presents the results and discusses the outlook in a video.

First quarter of 2025

Revenue increased by 8.7 percent to SEK 131.6 million (121.1), of which organic growth accounted for 4.3 percent and 4.4 percent was attributable to completed acquisitions.
Adjusted EBITDA amounted to SEK 3.2 million (-3.6) with a margin of 2.4 percent (-3.0).
Adjusted EBITDA, excluding vacation pay liabilities, amounted to SEK 12.9 million (5.7).
Adjusted EBIT, including the reversal of goodwill amortization, amounted to SEK 1.9 million (-4.8)
Net income for the period amounted to SEK -5.2 million (-13.9).
Net investments amounted to SEK 3.5 million (0.4).
Cash flow for the period amounted to SEK 10.3 million (1.6), and cash and cash equivalents totaled SEK 11.4 million (2.7) at the end of the period.
Earnings per share before dilution amounted to SEK -0.3 (-1.0).
Net debt / Adjusted EBITDA R12 stood at 1.1x (8.5) at the end of the period.

Significant events during the year

On January 1, the Tellus Group completed the acquisition of the staffing business Vikariepoolen. The business primarily provides staffing services for preschools, schools, and kitchens, and currently generates annual revenue of approximately SEK 20 million. The base purchase price amounts to SEK 3.05 million, of which SEK 0.25 million is paid in cash and SEK 2.8 million is paid through newly issued shares at a price of SEK 7.7 per share, which resulted in 362,225 newly issued shares. The new share issue represents a dilution of approximately 2.2 percent for Tellusgruppen’s existing shareholders. A smaller additional purchase price may also be paid in cash in early 2026. The terms for the additional purchase price are based on the business’s results for the years 2024–2025.
A private placement was carried out, resulting in an initial dilution effect of approximately 8.0 percent of the number of shares and votes. As a result of the private placement, the number of shares increased by 1,388,888, from 16,004,306 to 17,393,194, and the share capital increased by approximately 69,222,20 SEK, from approximately 797,654.82 SEK to approximately 866,877.02 SEK. The proceeds from the offering, after transaction fees, amounted to approximately 6.9 MSEK.
In connection with the private placement, a TO issue of Series TO3 was carried out. It was fully subscribed and closed on January 22, 2025. The number of shares will then increase by a maximum of 1,600,430, from 17,755,419 shares to 19,355,849 shares, and the share capital by a maximum of approximately SEK 79,765.45, from SEK 884,930.32 SEK to a maximum of 964,695.77 SEK, corresponding to a maximum dilution effect of approximately 9.0 percent of the number of shares. The options may be exercised during the period from December 1, 2025, through December 15, 2025.

For further information, please contact
Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.noboxdesign.se
+46 707 167 453