Tellusgruppen AB publishes
's 2021 year-end report

Published: February 28, 2022

  

IR - Regulatory

For the Tellus Group, 2021 was marked by strong growth and an expansion of its operations, as its elementary school division more than doubled the number of available spots. The past year has also seen a relatively low occupancy rate at the company’s preschools, a trend that has also affected other players in the preschool industry.

Full year 2021

  • Revenue increased by 33.8 percent to SEK 262.5 million (196.2).
  • The average number of enrolled children and students was 1,727 (1,307), an increase of 32.1 percent. The number of school places increased by 37.7 percent, reaching 2,675 at the end of the period.
  • Operating profit before depreciation and amortization (EBITDA) amounted to SEK 2.2 million (11.4), with a margin of 0.8 percent (5.8).
  • The timing of the acquisition of Theducation AB is having a negative impact on earnings for the current year due to seasonal fluctuations in the profitability of the school’s operations.
  • Net income for the period amounted to SEK -6.8 million (4.0).
  • Net investments amounted to SEK 37.8 million (21.0).
  • Cash flow for the period amounted to SEK -1.8 million (-1.6).

Significant events during the year

  • In early January, the Robinson preschool opened in Enköping with 150 spots.
  • In April, the Växthuset preschool moved from temporary facilities to new permanent facilities, increasing its capacity from 60 to 96 spots.
  • In April, Tellusgruppen was listed on Nasdaq First North, which raised 20 MSEK in cash proceeds for the company
    prior to underwriting fees.
  • During the third quarter, two small asset acquisitions were made from parent and staff cooperatives. These acquisitions add 65 new preschool spots.
  • In September, Tellusskolan acquired 93.6 percent of the shares in Theducation AB, adding two new elementary schools with approximately 470 students. Following an additional share purchase in November, Tellusskolan now owns 98.6 percent of the shares.
  • Tellusskolan received three new school licenses. This will result in the opening of at least one new elementary school for the fall semester of 2022. It is planned to be located in the same building as Tellusbarn’s existing preschool, which will allow for more efficient use of our facilities.


CEO's comments

“We are entering 2022 with yet another year of strong growth behind us. Since 2019, Tellusgruppen has grown by an average of approximately 45 percent per year. Maintaining this growth rate at the same level will not be an easy task going forward, but we have good reason to hope that growth will exceed our target of 30 percent in 2022 as well.”

Growth is not an end in itself, but rather a means of safeguarding the interests of the company’s most important stakeholders. Thanks to our strong growth, more parents and guardians are able to take advantage of our high-quality services in schools, preschools, and childcare.

A fast-growing company can offer better quality through more and better support functions, more efficient systems, and better working conditions and development opportunities for employees. Our financial stability increases because we have multiple sources of revenue. Long-term profitability improves as a result of the company’s growing synergies, which benefits our investors. In the long run, growth, quality, and profitability are mutually dependent.”

Bijan Fahimi,
, CEO Tellusgruppen


Board of Directors,Tellusgruppen AB (publ)

Link to the report
You can download the report here.

For more information, visit
Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.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.

MAR
This information is information that Tellusgruppen AB (publ) is required to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication on February 28, 2022, at 8:30 a.m. CEST.

About Tellusgruppen AB (publ)
Tellusgruppen is a long-term owner of well-managed companies in the education and child care sectors. The Group currently operates 26 preschools and six elementary schools, and also provides babysitting and homework assistance.

Tellusgruppen was founded in 2012 as the parent company of Tellusbarn (Tellusbarn was founded in 2007) and as a platform for future expansion in the education and child care sectors.

The Tellus Group’s business concept is to establish, operate, and develop profitable and growing subsidiaries in the childcare and education sectors. The company will serve as the parent company of a group that offers and delivers high-quality, innovative, and in-demand services in their respective fields.