The Tellus Group Releases Its 2025 Year-End Report

The Tellus Group sums up 2025 as a record year marked by profitable growth, operational improvements, and a strengthened financial position. Revenue exceeded SEK 500 million for the first time.

In the fourth quarter, revenue increased by 10.1 percent, of which 7.4 percent was organic growth. This growth was driven by an increase in the number of students and children, as well as a consistent focus on quality, efficiency, and cost control. All business areas performed well, with particularly strong profitability in the elementary school operations and educational resources segments.

The financial position has been further strengthened during the year through improved cash flows, reduced debt, and a more robust balance sheet. This creates favorable conditions for continued investment in the business and enables an active and disciplined acquisition strategy. The Tellus Group sees an attractive market for complementary acquisitions and has a well-stocked pipeline that supports its ambition for continued profitable expansion.

“With low debt, strong cash flows, and an active acquisition strategy, we see excellent opportunities to continue growing through both organic expansion and selective acquisitions. At the same time, our financial strength provides the flexibility for a long-term, sustainable dividend policy that supports stable ownership,” says Bijan Fahimi, CEO of the Tellus Group.

Given the company’s strengthened financial position, a supplementary dividend was also paid to shareholders during the year, in line with the company’s long-term goal of combining growth with financial stability.

“Our primary focus is to continue growing profitably and building a larger and stronger Tellus Group. The clear improvement in earnings over the past year shows that our strategy is working and that our business has good scalability,” says Bijan Fahimi, CEO of the Tellus Group.

Fourth Quarter 2025
• Revenue increased by 10.1 percent to SEK 135.3 million (122.9), of which organic growth accounted for 7.4 percent and acquired growth for 2.7 percent.
• EBITDA amounted to SEK 4.6 million (2.8), with a margin of 3.4 percent (2.3).
• Adjusted EBIT, including reversed goodwill amortization*, amounted to SEK 3.2 million (1.4).
• Cash flow from operating activities amounted to SEK 13.7 million (14.9), and cash and cash equivalents amounted to SEK 8.0 million (1.1) at the end of the period.
• Earnings per share amounted to SEK -0.33 (-0.38).
• Net debt / Adjusted EBITDA R12 amounted to 0.9x (2.4) at the end of the period.

Significant events during the year
• The TO3 offering conducted in January was completed in December; 8,003 shares were subscribed for, representing 0.35 percent of outstanding options. The number of shares increased from 17,755,419 to 17,763,422, representing a dilution of shares and votes of 0.045 percent. The share capital increased by SEK 398.87 to approximately SEK 885,329.19. After transaction costs, Tellusgruppen received approximately SEK 42,000.
• The composition of Tellusgruppen’s Board of Directors changed in December when Louise Furness decided to step down from her position.
• On November 4, an extraordinary general meeting was held at which a special dividend was approved. The dividend of SEK 1,775,541.90 was paid on November 11.
• In September, Tellusgruppen signed a final settlement agreement regarding the acquisition of Omniglot, which entailed the payment of an additional purchase price of SEK 22.8 million, which was lower than the previously reserved amount of SEK 26.6 million. The total purchase price thus amounted to SEK 58.5 million.
• At its inaugural board meeting on June 18, the Tellus Group decided to transition to the IFRS accounting standard effective January 1, 2026. The aim is to increase transparency and comparability in financial reporting.
• Victor Succo was appointed as the new CFO effective June 1, 2025. He succeeded Arnar Vidarsson, who had held the position since 2020.
• A private placement was carried out in January, resulting in an initial dilution effect of approximately 8.0 percent of the number of shares and votes. Through 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 SEK 69,222.20 from approximately SEK 797,654.82 to approximately SEK 866,877.02 SEK. The proceeds from the offering, after transaction fees, amounted to approximately 6.7 MSEK.
• On January 1, the Tellus Group completed the acquisition of the staffing business Vikariepoolen. Vikariepoolen’s operations consist primarily of staffing for preschools, schools, and kitchens, with annual revenue of approximately 20 MSEK. The base purchase price amounted to SEK 3.05 million, of which SEK 0.25 million was paid in cash and SEK 2.8 million was paid through newly issued shares. The new share issue resulted in a dilution for the Tellus Group’s existing shareholders of approximately 2.2 percent. 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.

Significant events after the end of the reporting period
No significant events to report after the end of the period.