AcadeMedia announces preliminary financial results for the fourth quarter 2023/2024
AcadeMedia’s net sales increased by about 15 percent in the fourth quarter, of which about 7 percent was organic, and are anticipated to be SEK 4,850 million (4,199). The average number of children and students, excluding the Adult Education Segment, increased by 10.6 percent to 109,510 (98,988). Adjusted operating profit increased just over 20 percent compared to previous year and is estimated to approximately SEK 410 million (333).
The international business together with the Adult Education Segment constitute about 40 percent of AcadeMedias total net sales.
In the fourth quarter, all segments have developed well with continued good growth in number of students and improved profitability. The Swedish school segments show continued higher capacity utilisation and good cost control. In the Adult Education Segment, the number of participants in higher vocational education increased and profitability in the municipal adult education continued to improve.
The Preschool and International Segment accounted for the largest profit and profitability improvement, operating profit including acquisitions increased by just over 50 percent. Growth, both organic and through acquisitions, but above all higher school vouchers in Norway and Germany contributed to the improved profitability.
All figures in this press release are preliminary and unaudited. AcadeMedia will not make any further comments until after the year-end report for 2023/24 is published Wednesday August 28th 2024, at 08:00 CEST, as earlier communicated.
For more information, please contact:
Petter Sylvan, CFO
Telephone: +46-8-794 42 91
E-mail: petter.sylvan@academedia.se
About AcadeMedia
AcadeMedia creates opportunities for people to develop. The 19,400 employees at our 700 preschools, compulsory schools, upper secondary schools, and adult education centres share a common focus on quality and development. Our 198,000 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, Germany, Finland and the Netherlands. 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
This information is information that AcadeMedia AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CEST 19 July 2024.