Contract signing can start for Vocational and Preparatory modules
The right to appeal the Administrative Court’s decision to reject the appeal of the Vocational and Preparatory modules (“yrkes- och studieförberedande moduler, YSM”) has now ended. AcadeMedia can now commence signing of contracts with the Swedish Public Employment Agency. The contract period runs until 2019-10-31 with option for another two years. The training programs are expected to be ready to start during May and June. Since the prior contract Basic Modules closed admissions on January 31st and there has been a delay in signing of the new contract there will be a gap of slightly more than one quarter which is in line with prior communication.
As previously communicated, AcadeMedia has been awarded 45 contract areas of a total of 70 and AcadeMedia estimates a slightly lower turnover compared to the previous contract and a lower revenue per student. On an annual basis, when the new YSM contract has fully replaced the previous Basic Modules contract, it is estimated that the entire Adult Education Segment's EBIT-margin will decrease by one to three percentage points.
For more information, please contact:
Marcus Strömberg, CEO
Telephone: +46 8 794 4200
E-mail: marcus.stromberg@academedia.se
Christer Hammar, Head of the business segment Adult education
Telephone: +46 70 377 45 00
E-mail: christer.hammar@academedia.se
About AcadeMedia
AcadeMedia creates opportunities for people to develop. The 15,600 employees at our 640 preschools, compulsory schools, upper secondary schools and adult education centres share a common focus on quality and development. Our 173,000 children and students are provided with a high quality education, giving them the best conditions to attain both learning objectives and their full potential as individuals. AcadeMedia is Northern Europe ́s largest education company, with locations/facilities/presence in Sweden, Norway and Germany. Our size gives us the capacity to be a robust, long term partner to the communities we serve. More information about AcadeMedia is available on www.academedia.se.