Tellusgruppen releases its report for the second quarter of 2025

Published: August 8, 2025

Other, IR - Regulatory

Tellusgruppen AB (publ.) reports its strongest interim report since its initial public offering. Profitability improved during the second quarter, with adjusted EBITDA of 10.3 MSEK (4.6). Revenue increased by 4.1 percent to SEK 135.8 million (130.5). Cash flow from operating activities increased to SEK 30.3 million (8.2). Net debt decreased sharply to a historically low level.

Despite market challenges, Tellusgruppen is showing improved profitability and financial stability, while its operations continue to deliver high quality. In the second quarter of 2025, the positive trend in profitability improvement that Tellusgruppen has reported in recent quarters continued. Net debt/EBITDA R12 stood at only 0.1x (5.6x) at the end of the period, which is a historically low figure for Tellusgruppen.

“ Tellusgruppen is improving profitability in its key business areas. The results show a clear improvement compared with the same period last year. Cash flow is strengthening, and debt levels continue to decline. This confirms that our strategic initiatives and long-term efficiency efforts are yielding results,” says Bijan Fahimi, CEO of the Tellus Group.

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Second quarter of 2025

Revenue increased by 4.1 percent to 135.8 MSEK (130.5), of which organic growth accounted for 1.8 percent and 2.3 percent was attributable to completed acquisitions.
Adjusted EBITDA amounted to 10.3 MSEK (4.6), with a margin of 7.6 percent (3.5).
Adjusted EBITDA, excluding vacation pay liabilities, amounted to 15.6 MSEK (9.9).
Adjusted EBIT, including the reversal of goodwill amortization, amounted to 9.0 MSEK (3.3).
Cash flow for the period amounted to 8.8 MSEK (5.1), and cash and cash equivalents totaled 20.2 MSEK (7.8) at the end of the period.
Earnings per share before dilution amounted to 0.2 SEK (-0.3).
Diluted earnings per share amounted to 0.2 SEK (-0.3).
Net debt / Adjusted EBITDA R12 stood at 0.1x (5.6) at the end of the period.

Significant events during the year

Tellusgruppen At its inaugural board meeting on June 18, the board decided to adopt the IFRS accounting standards effective January 1, 2026. The purpose is to increase transparency and comparability in financial reporting.
Victor Succo was appointed as the new CFO, effective June 1, 2025. He succeeded Arnar Vidarsson, who had held the position since 2020.
A private placement was carried out in January, resulting in an initial dilution effect of approximately 8.0 percent of the number of shares and votes. As a result of the private placement, the number of shares increased by 1,388,888, from 16,004,306 to 17,393,194, and the share capital increased by approximately 69,222.20 SEK, from approximately 797,654.82 SEK to approximately 866,877.02 SEK. The proceeds from the offering, after transaction fees, amounted to approximately 6.7 MSEK.
In connection with the private placement, a TO issue of Series TO3 was carried out. It was fully subscribed and closed on January 22, 2025. The number of shares will then increase by a maximum of 1,600,430, from 17,755,419 shares to 19,355,849 shares, and the share capital by a maximum of 79,765.45 SEK, from 884,930.32 SEK to a maximum of 964,695.77 SEK, corresponding to a maximum dilution effect of approximately 9.0 percent of the number of shares. The options may be exercised during the period December 1–15, 2025.
On January 1, Tellusgruppen completed the acquisition of the staffing business Vikariepoolen. Vikariepoolen’s operations consist primarily of staffing for preschools, schools, and kitchens, and currently generate annual revenue of approximately 20 MSEK. The base purchase price amounted to SEK 3.05 million, of which SEK 0.25 million was paid in cash and SEK 2.8 million was paid through newly issued shares at a price of SEK 7.7 per share, representing 362,225 newly issued shares. The new share issuance resulted in a dilution of approximately 2.2 percent for the Tellus Group’s existing shareholders. A smaller additional purchase price may also be paid in cash in early 2026. The terms for the additional purchase price are based on the business’s results for the years 2024–2025.

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 28 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.

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 atca@mangold.se.