Tellusgruppen AB Releases Quarterly Report for Q2 2023

Published: August 24, 2023

“We are growing rapidly through both acquisitions and organic growth. The Tellus Group demonstrates underlying stability in our profitability trend despite the challenging macroeconomic environment,” says Bijan Fahimi, CEO of the Tellus Group. “Despite this, we are able to demonstrate significant growth in our business.”

Second quarter of 2023

• Revenue increased by 22.8 percent to SEK 111.4 million (90.7). Organic growth amounted to 12.1 percent, while 10.7 percent was attributable to acquisitions made during the year.
• The average number of enrolled children and students was 2,475 (2,295), an increase of 7.8 percent.
• Operating profit before depreciation and amortization (EBITDA) amounted to SEK 4.1 million (6.7), with a margin of 3.6 percent (7.4).
• EBITDA, adjusted for changes in accrued vacation pay, amounted to SEK 8.4 million (8.6).
• Net income for the period amounted to SEK -3.2 million (3.0).
• Net investments amounted to SEK 1.8 million (1.4).
• Cash flow for the period amounted to SEK -0.4 million (0.1), and cash and cash equivalents totaled SEK 1.7 million (3.1) at the end of the period.

Significant events during the period

• The Vega Preschool in Haninge, with 100 spots, opened its doors in April.
• The Väsjön Outdoor Preschool in Sollentuna began operations in April. The preschool opened in temporary facilities with 40 spots. In January 2024, the preschool will move to a newly constructed building with space for approximately 140 children.

Significant events since the end of the period

• On August 1, the Tellus Group took over as the new owner of Språkservice 24 AB. The purchase price for the shares, excluding cash, is SEK 7.7 million. SEK 3.5 million is paid in cash and SEK 2.3 million through newly issued shares at a price of SEK 7.99 per share, which amounts to 28,911 newly issued shares. The new share issue results in a dilution for the Tellus Group’s existing shareholders of approximately 2.0 percent. Språkservice 24 offers native-language instruction and academic tutoring in more than 50 different languages.
• The Tellus Group established the company Intelligent School Solutions in collaboration with Mathias Sundin. The company aims to offer AI-based applications to improve and streamline the work of preschools and schools, in both educational and administrative areas. The Tellus Group holds a 70 percent majority stake in the company, while Mathias Sundin owns 30 percent.

You can read the full quarterly report here

For more information

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

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 August 24, 2023, at 8:30 a.m. CEST.

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.

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 27 preschools and seven elementary schools, and also provides childcare and educational services.

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 that offer high-quality, innovative, and in-demand services within their respective fields.