The Tellus Group Publishes Its 2022 Annual Report
Published: May 5, 2023
“Tellusgruppen’s strong growth rate has had a very positive impact on the company’s profitability and demonstrates that our strategy is paying off despite a tougher economic climate,” says Bijan Fahimi, CEO of Tellusgruppen.
Significant events during the year
- Thea Bromma was granted an extension of its building permit.
- The Smedby Preschool in Upplands Väsby, with 100 spots, opened its doors in January.
- The Svartgarn Outdoor Preschool in Österåker, with 100 spots, opened its doors in August.
- Robinson Valsjön, a newly opened elementary school serving grades K–6, opened in August with two classes.
- On October 1, Tellusgruppen became the owner of Omniglot AB, a leading provider of native language education. The agreed purchase price for the shares, including cash and an adjustment for normalized working capital, amounted to SEK 33.4 million. Of the purchase price, SEK 23.6 million was paid in cash and SEK 9.8 million in the form of newly issued shares in the Tellus Group. A contingent additional purchase price, which will be paid in 2025, is estimated at SEK 29.4 million. The cash portion is financed partly through an external loan and partly through a loan from the Tellus Group’s principal owner. The loans are amortized over two years at an annual interest rate of 7.3 percent + STIBOR 90. The share price for the newly issued shares was SEK 6.75, and the number of new shares amounted to 1,454,736.
- Lotta Edholm, a member of the Tellus Group’s board of directors, was appointed Minister of Education in Sweden’s new government and simultaneously stepped down from her board position. Lotta Edholm has chosen to forgo her board remuneration for 2022.
Significant events since the end of the period
- Tellusbarn receives high marks in the Swedish Schools Inspectorate’s quality review of preschools in socioeconomically disadvantaged areas. The review covers 30 school operators, both independent and municipal.
Read more here - The Tellus Group is expanding its range of educational services and native-language instruction through the acquisition of Språkservice 24. The Tellus Group is also appointing Gabriel Gjerss as its new CEO; he has played a key role in the development of the Tellus Group’s childcare operations.
Read more here - The Tellus Group presents preliminary figures for Q1 2023, showing revenue growth of SEK 105.7 million (81.2) and EBITDA adjusted for changes in vacation and holiday pay liabilities of SEK 7.8 million (1.8), with a margin of 7.4 percent (1.8).
Read more here
You can read the full annual 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.
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.
