Tellusgruppen AB Releases Its 2022 Year-End Report

Published: February 28, 2023

  

IR - Regulatory

In 2022, the Tellus Group’s revenue increased by 33.2 percent, reaching
349.7 MSEK. Operating profit before depreciation and amortization (EBITDA) amounted to SEK 12.7 million (2.2), with a margin of 3.6 percent (0.8). During the year, Tellusgruppen also expanded into a fourth segment—educational services—in addition to schools, preschools, and childcare, through the acquisition of the native language company Omniglot.

Fourth quarter of 2022

  • Revenue increased by 33.1 percent to SEK 99.5 million (74.8). Organic growth amounted to 16.4 percent, while 16.8 percent was attributable to acquisitions made during the year.
  • The average number of enrolled children and students was 2,181 (1,999), an increase of 9.1 percent.
  • Operating profit before depreciation and amortization (EBITDA) amounted to SEK 1.5 million (-3.9), with a margin of 1.5 percent (-5.2).
  • EBITDA, adjusted for changes in accrued vacation pay, amounted to SEK 5.5 million (0).
  • Net income for the period amounted to SEK -5.7 million (-7.5).
  • Net investments amounted to SEK 63.1 million (2.9).
  • Cash flow for the period amounted to 0.6 MSEK (1.3), and cash and cash equivalents totaled 2.4 MSEK (7.1) at the end of the period.

Full year 2022

  • Revenue increased by 33.2 percent to SEK 349.7 million (262.5). Organic growth amounted to 14.0 percent, while 19.3 percent was attributable to completed acquisitions.
  • The average number of enrolled children and students was 2,197 (1,727), an increase of 27.2 percent.
  • Operating profit before depreciation and amortization (EBITDA) amounted to SEK 12.7 million (2.2), with a margin of 3.6 percent (0.8).
  • Net income for the period amounted to SEK -6.4 million (-6.8).
  • Net investments amounted to SEK 65.5 million (37.8).
  • Cash flow for the period amounted to SEK -4.7 million (-1.8).

CEO's comments

“Tellusgruppen has grown by an average of 39 percent per year since 2019. However, growth has never been an end in itself. All of our operations are in varying stages of development where the economies of scale are clearly greater than the diseconomies of scale. With more schools and preschools and a larger number of teachers and childcare providers, we not only offer high-quality services to more parents and guardians. We also create a more stable and secure platform for business development, career opportunities, and greater scope for our employees to develop cutting-edge expertise—both within and across our respective segments.”

“Historically, our growth has been based on organic growth—primarily in preschools and childcare—as well as acquisitions, primarily in elementary education. A new development in 2022 was that, through the acquisition of the native-language education company Omniglot, we entered a new segment: educational services.”

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 under the EU Market Abuse Regulation. The information was submitted for publication on February 28, 2023, 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 25 preschools and seven elementary schools, and also provides child care and educational services.

Tellusgruppen was established 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 within their respective fields.