AcadeMedia’s operating profit higher than expected for the first quarter 2020/21
AcadeMedia has had a stronger first quarter than expected by the market. Net sales are estimated to be SEK 2,650 million (2,502), an increase of around 6 percent compared to last year. Operating profit adjusted for the effects of IFRS 16 is estimated to be SEK 150 million (75). Continued high demand for adult education and more vacation days compared to last year had a positive impact on operating profit. The Adult Education Segment’s fast volume growth has meant that expenses are lagging behind, giving a temporary positive margin impact. The positive vacation effect is expected to even