Second quarter (October -
- Net sales increased by 9.7 percent and amounted to
SEK 4 433 million (4,041). Organic growth, including bolt-on acquisitions, was 8.5 percent. -
Operating profit (EBIT) amounted to
SEK 305 million (266). -
Adjusted operating profit, adjusted for items affecting comparability and effects of IFRS 16, amounted to
SEK 204 million (203). Items affecting comparability amounted toSEK 0 million (-21). -
Net profit for the period amounted to
SEK 106 million (109). -
Earnings per share was
SEK 1.01 (1.16) after dilution. Adjusted for IFRS 16, earnings per share wasSEK 1.23 (1.38) after dilution. - The average number of children and students in preschool, compulsory school, and upper secondary school during the second quarter was 101,292 (97,767), representing an increase of 3.6 percent.
First six months (July -
- Net sales increased by 10.0 percent to
SEK 7,863 million (7,146). Organic growth, including bolt-on acquisitions, was 7.6 percent. -
Operating profit (EBIT) amounted to
SEK 536 million (504). -
Operating profit, adjusted for items affecting comparability and effects of IFRS 16, amounted to
SEK 355 million (354). Items affecting comparability amounted toSEK -6 million (-16). -
Net profit for the period amounted to
SEK 168 million (203). -
Diluted earnings per share was
SEK 1.60 (1.88). Adjusted for IFRS 16, diluted earnings per share wasSEK 2.10 (2.31). - The average number of children and students in preschool, compulsory school, and upper secondary school during the first six months was 101,022 (96,800), representing an increase of 4.4 percent.
The complete report will be made available at
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Comments from acting CEO
The second quarter of the financial year shows continued strong growth; net sales increased organically by 8.5 percent. Despite higher costs during the quarter, growth together with the Adult Education Segment's successful transition, contributed to results being in line with last year. The higher costs will be compensated in the school voucher revision from
Successful transition programme in Adult Education
It is very positive that, for the second consecutive quarter, the profitability in the Adult Education Segment has improved. Good growth in our strategically important higher vocational education business, together with a completed transition of
Looking ahead, we can see that the Swedish government continues to invest in higher vocational education. In
Quality initiatives that make a difference
In preschool, where the foundations for learning are laid, we focus in particular on language development and reading. Libraries where parents can borrow children's books are now available at most of our Swedish preschools.
School voucher development 2024
The Swedish school voucher funding model is based on the right of all students to an equal education. This means that over time school vouchers should reflect inflation. The high inflation we have seen over the past year has led to an increased seasonal variation, where costs in the second quarter are not fully compensated until the third quarter. Also 2024 will be affected by cost increases, for example index related rent increases of 6.5 percent (10.9) in
Based on more than 80 percent of the school voucher decisions for 2024, the preliminary school voucher increase for Swedish preschools amounts to just over 4 percent (5.3), for compulsory schools just over 5 percent (5.2), and for upper secondary schools close to 4 percent (3.9). In
Open houses offer a glimpse of autumn 2024
During the pandemic, the upper secondary physical school fairs and open houses could not be held as usual. This year, we have been able to return to normal open houses and fairs. These are fantastic opportunities for interested students and guardians to meet the schools' students and staff and get a more complete picture of the schools. Choosing a school is a big and important decision, whether it's a six-year-old starting school or a teenager taking an important step towards becoming an adult by choosing a secondary school.
Interest in our open houses was high during the autumn and continues to be high at the beginning of the spring term. Many schools have seen records in the number of visitors. For example, Campus Vasastan was visited by more than 6,000 students and their guardians, which is a great recognition of the quality of our schools.
Strategy for international growth
About 25 percent of
I would like to take this opportunity to express my gratitude for the honour of leading
Acting president and CEO
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