The Tellus Group increased its revenue in the first quarter

Published: May 7, 2026

Other, IR - Regulatory

The Tellus Group reported increased revenue and improved earnings for the first quarter of 2026. The Group’s revenue rose by 5 percent to SEK 138.2 million, compared with SEK 131.6 million in the same period last year. The growth was entirely organic.

EBITDA amounted to SEK 17.9 million, corresponding to a margin of 13 percent. Cash flow from operating activities amounted to SEK 18.4 million, while cash and cash equivalents at the end of the period totaled SEK 5.4 million. Earnings per share before and after dilution amounted to SEK -0.11.

According to the company, the quarter marks a stable start to the year, with the business continuing to combine growth with improved operational efficiency and a stronger financial position.

Enrollment in preschool programs increased, despite ongoing demographic pressures. At the same time, the number of students in school programs continued to grow. The Educational Resources business area grew by 12.8 percent during the quarter.

The Tellus Group has also taken steps toward continued expansion. On March 26, the company entered into an agreement to acquire Danderyds Enskilda Skola AB for SEK 6.5 million. The acquisition, which is being financed with existing cash reserves, is expected to contribute approximately SEK 30 million in annual revenue. The closing is expected to take place in May 2026, subject to approval from the Swedish Agency for Strategic Products (ISP).

Following the acquisition, the group will comprise 28 preschools and 8 schools.

Starting with the 2026 fiscal year, the Tellus Group will report in accordance with IFRS. The transition will involve changes in the accounting treatment of leases under IFRS 16, goodwill, and disclosure requirements, among other things. Comparative figures for 2025 have been restated. During a transition period, certain key performance indicators will also be reported excluding IFRS 16.

During the quarter, the company also changed the model for charging for intra-group services, known as the management fee. The net effect for the Group is zero, but the change affects how earnings are allocated between the parent company and the business areas.

Since the end of the quarter, the Tellus Group has begun rolling out Kentaur, its proprietary AI-based platform, within its preschool operations. The platform is set to gradually replace external systems after the summer break in 2026 and consolidate administration, educational documentation, and quality assurance into a single integrated system.

The Group is also introducing Knottie, a new brand in the childcare sector that complements Nanny by Tellus and expands the company’s offerings.

“We are starting the year with steady growth and improved earnings, while also implementing key strategic initiatives. The transition to IFRS, the acquisition in Stockholm, and the launch of Kentaur are strengthening our platform for continued development. Overall, we are well positioned to continue growing and developing our business moving forward,” says Bijan Fahimi, CEO of the Tellus Group.

The full report is available below: