Analyst Group Comments on Tellus Group's Q3 Report for 2026
Published: November 6, 2026
IR - Non-regulatory, Operations
Analyst Group has published a commentary on the Tellus Group’s interim report for the third quarter of 2026. The analysis highlights the Group’s continued revenue growth, completed acquisitions, and financial position, while also discussing trends in profitability and capacity utilization.
The Tellus Group’s net sales increased by 10.5 percent to 119.4 MSEK during the quarter, of which 4.5 percent was attributable to organic growth. Analyst Group specifically highlights the performance of the elementary school operations, where revenue increased by 18.4 percent compared with the same period last year.
The analysis also addresses the acquisitions of Danderyds Enskilda Skola and Sandvikens Friskola, which together strengthen the Group’s position in the elementary school segment. According to Analyst Group’s calculations, the Tellus Group’s annual revenue exceeds 600 MSEK on a pro forma basis.
At the same time, Analyst Group notes that the quarter’s results fell short of expectations, primarily due to increased personnel costs. The analysis also highlights the impact of demographic trends on occupancy rates in preschools.
Analyst Group assesses that Tellusgruppen continues to have financial flexibility and discusses how changes in regulations may affect the conditions for future growth and acquisitions.