Tellusgruppen AB Releases Quarterly Report for the First Quarter of 2021

Published: May 28, 2021

For Tellusgruppen AB (publ), the first quarter of the year was marked by strong growth combined with preparations for the upcoming listing on Nasdaq First North. Thanks to a decentralized organization and a skilled workforce, Tellusgruppen was also able to develop all of its business areas during the period and is moving forward with confidence into the next quarter.

First Quarter of 2021

  • Strong growth continued during the period, with revenue totaling SEK 59.0 million (40.8), an increase of 44.7 percent compared with the same period last year.
  • The number of enrolled children and students totaled 1,566 (1,095), an increase of 43.0 percent. The number of educational places increased by 91.4 percent and totaled
    2,126 (1,111).
  • Operating profit before depreciation and amortization (EBITDA) amounted to SEK -0.5 million (0.9). Adjusted for non-recurring items, EBITDA amounted to SEK -0.5 million (1.9). Earnings were weighed down by growth costs, with earnings from units in the start-up phase amounting to
    SEK -2.4 million (SEK -0.6 million).
  • The adjusted EBITDA margin was -0.9 percent (4.7).
  • Net income for the period amounted to SEK -2.5 million (0.6).
  • Net investments during the period amounted to SEK 1.1 million (14.4).
  • Uncapitalized issuance costs for the current offering amounted to SEK 1.9 million and were recorded in the share premium account.
  • Cash flow for the period amounted to SEK -7.0 million (2.7), and the Group’s cash and cash equivalents totaled SEK 1.8 million at the end of the period.

Significant events during the period

  • The Robinson preschool opened in Enköping in early January 2021. The preschool is licensed to serve 150 children, and as of February, 48 percent of the spots were filled.

Significant events since the end of the reporting period

  • On April 26, 2021, Tellusgruppen AB (publ) received approval for listing on the Nasdaq First North Growth Market, and trading in the company’s shares began on April 28. 2,500,000 shares and 2,500,000 warrants were issued, raising SEK 20 million in cash proceeds for the company prior to issuance costs. The number of shares thus increased from 10,032,100 to 12,532,100, and the share capital from SEK 500,000 to SEK 624,600. If all warrants are exercised to subscribe for shares, an additional 2,500,000 new shares will be issued in May 2022 at a subscription price of SEK 10.40 per share. 80 percent of the offering volume was placed during the subscription period. The open subscription period ended with a 280 percent subscription rate.
  • The capacity of the Växthuset preschool’s permanent facility was set at 96 students, which is 36 more than the capacity of the temporary facility.

CEO's comments

“The Tellus Group is one of the education sector’s most prominent growth companies. Fundamentally, its operations are characterized by the same conditions as other companies in the childcare and education sectors, namely relative stability in revenue and customer relationships within a politically regulated, public environment. What sets us apart from our industry peers is the high growth rate in both our own new establishments and acquisitions. We are a growth-oriented company in a stable industry.”

“Despite a busy quarter of preparations for the Tellus Group’s listing on Nasdaq First North at the end of April, the companies have been able to develop all of their business areas thanks to a decentralized organization and skilled employees.”

Bijan Fahimi
CEO of Tellus Group

Board of Directors
Tellusgruppen AB (publ)

Link to the report

You can download the report here.

For more information

Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.noboxdesign.se
+46 707 167 453

Certified Adviser

The Company’s Certified Adviser is Mangold Fondkommission AB, which can be reached by phone at
08-503 015 50 and by email at ca@mangold.se.

MAR

This information is information that Tellusgruppen AB (publ) is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on May 28, 2021, at 8:30 a.m. CEST.

About Tellusgruppen AB (publ)

The Tellus Group is a long-term owner of well-managed companies in the education and childcare sectors. The Group currently operates 23 preschools and four elementary schools, and also provides babysitting and homework assistance.

The Tellus Group was founded in 2012 as the parent company of Tellusbarn (which was founded in 2007) and as a platform for future expansion in the education and childcare sector.

The Tellus Group’s business concept is to establish, operate, and develop profitable and growing subsidiaries in the childcare and education sectors. The company will serve as the parent company of a group that offers and delivers high-quality, innovative, and in-demand services within its respective fields.

Press Release_Q1 2021 Earnings Release
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