The Tellus Group Releases Its First-Quarter 2026 Report

The first quarter of 2026 marks a solid start, with the Tellus Group continuing to combine growth with a strengthened financial position and operational efficiency.

Preschool operations saw an increase in enrollment despite demographic challenges, while school operations continued to grow in terms of student numbers. The Educational Resources business area grew by 12.8 percent. In April, an agreement was signed to acquire Danderyds Enskilda Skola, with the transaction expected to close in May. The Group will thus comprise 28 preschools and 8 schools, with a continued focus on value-creating acquisitions.

Starting with the 2026 fiscal year, the Tellus Group will report in accordance with IFRS, a natural step in the company’s development that enhances comparability with publicly traded companies and improves transparency for investors. The transition primarily affects the accounting for leases (IFRS 16), goodwill, and disclosure requirements. Comparative figures for 2025 have been restated.

The Tellus Group has also launched its own platform, Kentaur, for its preschool operations, with the goal of gradually replacing external systems. At the same time, it is introducing Knottie, a new brand in the childcare sector, which complements Nanny by Tellus and expands the company’s offerings.

Cash flow from operating activities amounted to SEK 18.4 million, reflecting stable underlying business operations and a continued strong financial position.

– We are starting the year with stable growth and improved earnings, while also implementing key strategic initiatives. The transition to IFRS, the acquisition in Stockholm, and the launch of Kentaur strengthen our platform for continued development. Overall, we are well positioned to continue growing and developing the business going forward,” says Tellus Group CEO Bijan Fahimi.

First quarter of 2026

• Revenue increased by 5.0 percent to SEK 138.2 million (131.6), of which 5.0 percent was organic growth and 0.0 percent was growth from acquisitions.
• EBITDA amounted to SEK 17.9 million (17.4), with a margin of 13.0 percent (13.2).
• Cash flow from operating activities amounted to SEK 18.4 million (24.3), and cash and cash equivalents totaled SEK 5.4 million (11.4) at the end of the period.
• Earnings per share before and after dilution amounted to SEK -0.11 (-0.24).
• Net debt / Adjusted EBITDA excluding IFRS 16 stood at 0.9x (1.1) at the end of the period.
• The number of children and students was 2,717 (2,672).
• Effective January 1, 2026, the Tellus Group will report in accordance with IFRS. This transition is a natural step as the Group grows and will provide greater comparability with other listed companies, as well as a clearer basis for decision-making for investors and other stakeholders. Until all comparative figures have been restated, certain key figures will be presented excluding IFRS 16; these are clearly marked.
• During the quarter, the Tellus Group restructured its model for charging for intra-group services, the management fee. The net effect on the Group is zero, but it has allocation effects on the business areas and the parent company. The parent company’s earnings are positively affected, while the business areas are negatively affected. This means that the business areas’ earnings may be difficult to compare with previous years. The aim is to act in a market-oriented and transparent manner.

Significant events during the year

• On March 26, 2026, the Tellus Group entered into an agreement to acquire Danderyds Enskilda skola AB for SEK 6.5 million, financed through existing cash reserves. The acquisition adds approximately SEK 30 million in annual revenue to the Group and is expected to close in May 2026, subject to approval from the ISP (Inspectorate of Strategic Products).
• In March 2026, the Tellus Group hired Oskar Söderström to fill the vacancy as Business Area Manager for Omnipro/Educational Resources and as a new member of the Group Executive Management.

Significant events since the end of the reporting period

• In April 2026, the Group began rolling out Kentaur, its proprietary AI-based platform, in its preschool operations. The platform will gradually replace external system solutions after the summer break in 2026 and consolidates administration, educational documentation, and quality assurance into an integrated system. The initiative is expected to result in cost savings and enhanced operational control, and serves as a platform for continued development and potential commercialization.