tellusgruppen's CEO Provides an Update on the Company's Financial Situation: “Growth Remains Strong”
Published: September 20, 2023
Miscellaneous
tellusgruppen's CEO Bijan Fahimi reports on the company's current situation.
Excerpt from the film – Bijan Fahimi says:
“The company is moving in the direction we previously outlined.”
Tellusgruppen has increased its revenue from 118 MSEK in 2019 to 350 MSEK in 2022.
“Growth remains strong and is occurring on several fronts. At the same time, we are seeing an underlying improvement in profitability, although this is difficult to gauge due to seasonal effects.”
“Tellusgruppen has four areas of operation.”
“In the Preschools segment, Tellusgruppen has opened three new preschools since the start of the year. The preschool business is growing primarily through organic growth. The school business remains strong.”
“Through our new Education Services segment, Tellusgruppen has acquired another company specializing in native-language instruction, Språkservice24. Together with Omniglot , this company will become a very strong player in the segment, and we hope it will be able to expand its offerings to customers—from native-language issues and language-related services to additional new areas.”
“Through the acquisition of Omniglot and, most recently, Språkservice24, we will become the largest private provider of native-language instruction. This is very exciting; we will have the opportunity to collaborate across the companies and develop our offerings together. In addition, this will provide Tellusgruppen with a platform for developing our educational services. We’ll be able to offer other services such as student wellness, academic counseling, and products we’ll develop in the field of AI. This means our educational resources segment has a very exciting period ahead.”
“As we know, there is a political risk that primarily affects schools and preschools. Of course, we have to live with that risk. The results of some investigations will be released soon; we hope they will lead to pragmatic and effective solutions that benefit the entire school sector. I don’t think that will be a problem for us to manage and adapt to. It might even bring quite a few benefits.”
“It is also because of this political risk that we are expanding our operations, in part, beyond schools and preschools. This is where childcare services—but above all, educational services—come into play.”