Tellusgruppen publishes its quarterly report for Q1 2023

Published: May 23, 2023

  

IR - Regulatory

The Tellus Group’s quarterly report for Q1 2023 shows that revenue exceeded 100 million for the first time in a single quarter, and growth remains strong through both acquisitions and organic growth. The established strategy is reaffirmed as the business once again posts a profit.

“For us, the key figures we present are important in several ways. By generating 100 million in revenue in a single quarter, we’re reaching a milestone, and we’re closing in on the larger companies in the education industry,” says Bijan Fahimi, CEO of Tellusgruppen.

First quarter of 2023

  • Revenue increased by 30.1 percent to SEK 105.7 million (81.2). Organic growth amounted to 13.4 percent, while 16.7 percent was attributable to acquisitions made in the previous year.
  • The average number of enrolled children and students was 2,358 (2,169), an increase of 8.7 percent.
  • Operating profit before depreciation and amortization (EBITDA) amounted to SEK 1.9 million (-3.0), with a margin of 1.8 percent (-3.7).
  • EBITDA, adjusted for changes in accrued vacation pay, amounted to SEK 8.3 million (1.8), with a margin of 7.9 percent (2.2).
  • Net income for the period amounted to SEK -5.1 million (-6.9).
  • Net investments amounted to SEK 0.8 million (-0.6).
  • Cash flow for the period amounted to SEK -0.3 million (-4.1), and cash and cash equivalents totaled SEK 2.1 million (3.0) at the end of the period.

Significant events during the period

  • At the end of February 2023, Tellusskolan AB acquired the remaining 1.4 percent of the shares in Theducation AB and now owns 100 percent of the shares.

Significant events since the end of the period

  • The Vega Preschool began operations with 100 new spots in early April.
  • On April 14, 2023, Tellusgruppen reached an agreement to acquire 100 percent of the shares in Språkservice 24, with closing scheduled for August 1, 2023. The purchase price for the shares, excluding cash, amounts to 7.7 MSEK. SEK 3.5 million will be paid in cash and SEK 2.3 million through newly issued shares at the prevailing share price on the closing date. SEK 1.9 million will be paid via a promissory note due 24 months after closing.

You can read the full quarterly report here

For more information

Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.se
+46 707 167 453

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 May 23, 2023, at 8:30 a.m. CEST.

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.

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 27 preschools and seven elementary schools, and also provides child care and educational services.

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.

Tellusgruppen's Our business concept is to establish, operate, and develop profitable and growing subsidiaries that offer high-quality, innovative, and in-demand services in their respective fields.