The Tellus Group Releases Its Quarterly Report for Q2 2024

“Thanks to organic growth in several business areas, we are well positioned to achieve greater profitability in our operations. We are continuing our journey toward becoming a growing company that creates significant value for our customers, society, our employees, and our shareholders,” says Bijan Fahimi, CEO of the Tellus Group.

Webcast presentation of the report today at 9:00 a.m.
The report will be presented via webcast today, August 20, at 9:00 a.m. by Bijan Fahimi, CEO, and Arnar Vidarsson, CFO.

The presentation will be held in Swedish and can be viewed live via webcast at:https://events.teams.microsoft.com/event/59e49451-97d4-4560-bc8d-e6ade0abd165@6137c0b0-f16e-4ae1-ba3a-7fcede0c24a7 If you wish to participate via the webcast, please click onthe linkand register.

Second Quarter
• Revenue increased by 17.2 percent to SEK 130.5 million (111.4). Organic growth amounted to 12.0 percent, while 5.1 percent was attributable to completed acquisitions.
• Adjusted EBITDA amounted to SEK 4.6 million (4.1) with a margin of 3.5 percent (3.6).
• Adjusted EBITDA excluding vacation pay liabilities amounted to SEK 9.9 million (8.4).
• Net income for the period amounted to SEK -4.1 million (-3.2).
• Net investments amounted to SEK 7.9 million (1.8).
• Cash flow for the period amounted to SEK 5.1 million (-0.4) and cash and cash equivalents amounted to SEK 7.8 million (1.7) at the end of the period.
• Earnings per share before dilution amounted to SEK -0.3 (-0.2).
• Earnings per share after dilution amounted to SEK -0.3 (-0.2)

Significant events during the period
• The Väsjön outdoor preschool moved to permanent, newly built facilities with 140 educational places in January.
• In January, the Tellusfood restaurant at Kungsgatan 22 opened adjacent to the Tellus School Thea in Linköping. The restaurant serves as both a dining hall for students and a lunch restaurant for the general public.
• In early April, the Tellus Group acquired Matomsorg i Stockholm AB through its subsidiary TF Catering AB. Matomsorg prepares and distributes food to preschools and schools in the Stockholm area. The debt- and cash-free purchase price amounted to SEK 5.2 million. SEK 1.0 million was paid in cash on the closing date and SEK 2.6 million through newly issued shares at a price of SEK 6.5 per share, representing 402,477 newly issued shares. The new share issue results in a dilution for Tellusgruppen’s existing shareholders of approximately 2.7 percent.
• On May 25, the Tellus Group reached an agreement with the former owners of Språkservice24 to settle a vendor note of SEK 1.9 million and accrued interest of SEK 0.1 million through a set-off against newly issued shares in the Tellus Group. A total of 331,286 shares were issued at a price of SEK 6.012 per share. The new share issue results in a dilution of approximately 2.2 percent for the Tellus Group’s existing shareholders.
• The company issued Series TO2 warrants to the company’s existing shareholders. During the subscription period in May, Series TO2 warrants were exercised and converted into shares. This resulted in the company raising approximately SEK 6 million before issuance costs. Approximately SEK 3.3 million of this amount was paid through the offset of outstanding loans and guarantee compensation. Following the exercise, the number of shares in the Tellus Group increased from 15,009,710 to 16,004,306, resulting in a dilution of approximately 6.2 percent for shareholders who did not exercise the warrants.

Significant events since the end of the reporting period
• No significant events have occurred.