Tellusgruppen releases its report for the third quarter of 2026
Published: November 5, 2026
IR - Regulatory Affairs, Operations
Tellusgruppen AB (publ.) reported revenue growth of 5.9 percent to SEK 124.8 million in the third quarter of 2026, of which 5.8 percent was acquisition-driven growth. EBITDA amounted to SEK 30.7 million (34.0), corresponding to a margin of 24.6 percent (28.9). During the quarter, the acquisition in Danderyd contributed to growth, and Sandvikens Friskola was acquired after the end of the period. Together, the two acquisitions contribute approximately SEK 60 million in annual revenue and SEK 7 million in operating profit. The Group’s pro forma revenue thus exceeds SEK 600 million on a rolling 12-month basis.
The third quarter of 2026 is characterized by continued acquisition-driven growth and a strengthened financial position, while profitability is impacted by increased costs and a lower number of children and students in comparable operations. Through two strategic acquisitions, Tellusgruppen is strengthening its position in preschool and elementary school education and establishing itself in a new geographic market.
– We continue to grow through strategic acquisitions that strengthen our core operations. With the acquisitions in Danderyd and Sandviken, we are adding approximately SEK 60 million in annual revenue and SEK 7 million in operating profit to the Group. At the same time, we are actively working to improve profitability through increased occupancy and more efficient operations. The combination of acquisitions, financial stability, and our proprietary technology provides us with a solid foundation for continued growth,” says Bijan Fahimi, CEO of the Tellus Group.
During the quarter, Danderyds Enskilda Skola AB, which was acquired in May, contributed to the Group’s growth. The company has annual revenue of approximately 30 MSEK and has contributed 12.3 MSEK in revenue since the acquisition. After the end of the quarter, on October 1, the Group acquired Sandvikens Friskola AB, which operates an F–9 school with annual revenue of approximately 31 MSEK. The acquisition means that Tellusgruppen is establishing a presence in Gävleborg and further strengthening its elementary school operations.
With these two acquisitions, the Group now comprises 28 preschools and 9 elementary schools. The pro forma revenue of the elementary school operations, including Sandvikens Friskola, amounts to approximately SEK 180 million on an annual basis, compared to SEK 133 million for the full year 2025. Tellusgruppen continues to see good acquisition opportunities in the education sector and is also evaluating opportunities in adult education.
EBITDA for the quarter amounted to SEK 30.7 million (34.0). The decline in earnings is primarily attributable to a positive one-time effect of SEK 3.8 million in the comparable quarter, related to the final settlement of the additional purchase price for Omniglot. Higher personnel and external costs, as well as a lower number of children and students in comparable operations, also had a negative impact on profitability. At the same time, the effect of vacation pay was SEK 4.3 million more positive than in the previous year. Measures are being implemented to increase occupancy and streamline operations.
The financial position strengthened during the quarter. Cash flow from operating activities increased to SEK 6.7 million (5.3), and net debt excluding IFRS 16 decreased to SEK 28.4 million (39.2). Net debt relative to adjusted EBITDA amounted to 1.0 times (1.2). Debt levels are expected to increase as a result of the acquisition in Sandviken, but are still expected to remain well within the Group’s financial targets.
The implementation of the in-house developed AI platform Kentaur in the Group’s preschools is now essentially complete in its first version. The platform is used in daily operations and is being gradually developed with additional AI functionality. During the school year, a standard version for elementary schools will also be introduced, with the goal of reducing costs for external systems. In the longer term, the ambition is to offer Kentaur to external customers.
Third Quarter 2026
- Revenue increased by 5.9 percent to 124.8 MSEK (117.8), of which organic growth accounted for 0.1 percent and acquired growth for 5.8 percent.
- EBITDA amounted to 30.7 MSEK (34.0), with a margin of 24.6 percent (28.9).
- Cash flow from operating activities amounted to 6.7 MSEK (5.3), and cash and cash equivalents totaled 11.5 MSEK (4.4) at the end of the period.
- Net income for the period amounted to 7.6 MSEK (14.6)
- Earnings per share before dilution amounted to SEK 0.43 (0.82).
- Net debt / Adjusted EBITDA excluding IFRS 16 was 1.0x (1.2) at the end of the period.
- Net debt, excluding IFRS 16, amounted to 28.4 MSEK (39.2).
- Adjusted EBITDA, excluding IFRS 16, for the last 12 months (LTM) amounted to SEK 29.8 million (31.7).
- The average number of children and students was 2,772 (2,627).
Significant Events During the Third Quarter
- In September, Tellusskolan AB entered into an agreement to acquire all shares in Sandvikens Friskola AB from Gästrike Företagsutveckling AB. The company operates Sandvikens Internationella Montessoriskola, a preschool through 9th-grade school with after-school programs, and reported revenue of approximately 31 MSEK, with an operating profit of around 6 MSEK for the 2025/2026 fiscal year. The initial purchase price amounts to SEK 17.35 million on a cash/debt-free basis, with a potential additional purchase price of up to SEK 17.35 million after approximately 30 months. The additional purchase price is designed, among other things, to account for regulatory risk associated with the financing of independent schools. The acquisition will be financed using the company’s own cash and existing credit facilities, with closing scheduled for October 1, 2026.
- In August, Elnaz Madani was appointed Legal & Regulatory Lead and a member of Group Management, with the task of strengthening the Group’s legal and regulatory work with a focus on growth and acquisitions. She assumed her position on August 10, 2026, and remains a member of the Board of Directors. Elnaz is related to the Tellus Group’s largest shareholder; for more information, see Note 8.
Significant events after the end of the reporting period
Tellusgruppen took over the Sandvikens Friskola AB elementary school on October 1; a complete acquisition analysis will be presented in the upcoming year-end report. Current information is summarized in Note 7.
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.
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.
This information is information that Tellusgruppen is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on November 5, 2026, at 8:00 a.m. CET, through the above-mentioned contacts.