Administrative Court confirms the allocation decision for Professional and Preparatory modules – AcadeMedia is one step closer to signing contracts
The Administrative Court has announced that it rejects the applications for review of the Professional and Preparatory modules (“yrkes- och studieförberedande moduler, YSM”). The outcome of the procurement was announced in early July 2017. This means that AcadeMedia is one step closer to signing contracts with the National Employment Agency in the new contract area. The contract period is two years with option for another two years.
Provided that the decision is not appealed, the contract can earliest be signed in ten days.
AcadeMedia expect that the contract will run with a slightly lower turnover compared to the previous contract and at a lower price in line with prior information. On an annual basis, when the entire YSM has replaced the previous "basic modules" (“gundläggande moduler, GM”) agreement, it is still estimated that the entire Adult Segment's EBIT margin will decrease by one to three percentage points which also has been communicated earlier.
For more information, please contact:
Marcus Strömberg, CEO
Telephone: +46 8 794 4200
Christer Hammar, Head of the business segment Adult education
Telephone: +46 70 377 45 00
Christian Hall, Investor Relations
Telephone: +46 763 111 242
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.
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 12:10 CET March 21, 2018.