Tellusgruppen publishes its 2023 year-end report

Published: February 29, 2024

  

IR - Regulatory

Tellusgruppen reported strong growth of just over 22 percent in 2023. This growth is based on organic growth, primarily in the preschool segment, as well as completed acquisitions. Operating profit before depreciation for the full year amounted to SEK 13.2 million (SEK 12.7 million). During the fourth quarter, the subsidiary TF Catering AB was established, under which all of the Tellus Group’s kitchens and meal services will be consolidated.

2023 was a record year for the Tellus Group’s preschool operations, with three new locations opening. The Group as a whole also grew in its other segments.

“Under the brand name Tellusfood , we have launched a new company that will bring together all of our production kitchens and meal services. This will contribute to profitability through savings in food transportation and procurement, as well as by delivering meals to businesses other than our own,” says Bijan Fahimi, CEO of the Tellus Group.

“In the long term, high quality and profitability are mutually dependent. Our goal is to continue growing in our segments and, eventually, to become a dividend-paying company so that we can attract serious, long-term shareholders,” concludes Bijan Fahimi.

Fourth Quarter of 2023

  • Revenue increased by 14.2 percent to 113.6 MSEK (99.5). Organic growth amounted to 12.0 percent, while 2.1 percent was attributable to completed acquisitions.
  • Operating profit before depreciation and amortization (EBITDA) amounted to -2.2 MSEK (1.5), with a margin of -1.9 percent (1.5).
  • EBITDA, adjusted for changes in vacation pay liabilities, amounted to 0.7 MSEK (5.5).
  • Net income for the period amounted to -9.2 MSEK (-5.7).
  • Net investments totaled 0.7 MSEK (23.9).
  • Cash flow for the period amounted to SEK 0.8 million (0.6), and cash and cash equivalents totaled SEK 1.1 million (2.4) at the end of the period.
  • Earnings per share before dilution amounted to -0.6 SEK (-0.5).

Significant events during the period

  • In November, the subsidiary TF Catering AB was established. The newly formed company will take over all of the Tellus Group’s kitchens and food service operations starting in January 2024.

You can read the full year-end report here.

For more information

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.