Internationella Engelska Skolan opening a new school in Luleå in 2019
Internationella Engelska Skolan, IES, has signed a lease agreement with Diös to open a new school in the northern Swedish city of Luleå from the academic year 2019/20. The operations will be conducted in the city center district of Södra Hamnen. The school will cover compulsory school grades 4-9. The initial estimated number of classes is 10, and at capacity, the school will have 18 classes.
Annette Brodin Rampe, IES’s CEO commented: ”We are delighted and humbled by the trust the Municipality of Luleå has shown IES. We’re looking forward to being an integrated part of Luleå’s endeavor to remain an attractive and growing university town.”
For more information, please contact:
Johan Hähnel, IR Manager, IES
Tel: +46 (0)70 605 6334
e-mail: johan.hahnel@engelska.se
This information is such that Internationella Engelska Skolan i Sverige Holdings II AB (publ) is obliged to publish pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above contact, at 06:00 a.m. CET on 29 June 2018.
About Internationella Engelska Skolan
Internationella Engelska Skolan, IES, is one of the leading free school operators in Sweden with some 24,000 students in 34 schools at the beginning of the academic year 2017/18. IES operates schools for students from preschool until the third year of upper secondary school. Its main focus is grades 4-9, what is often called “middle school.” Within the compulsory school system in Sweden, IES is the leading independent operator, with nine of the ten largest free schools. IES’s results on the national tests in grade 9 are far above average in Sweden.
Internationella Engelska Skolan was founded in 1993 and is in its 25th year of operation. Throughout this period, its schools have been defined by the three core convictions of its founder, Mrs. Barbara Bergström:
- A safe and orderly environment, where teachers can teach and students learn.
- To command the English language—the key to the world.
- High academic expectations and targets.
Up to half of the teaching in IES schools is in English, by native English speaking teachers. Over 700 teachers with qualified foreign teaching degrees are currently teaching in IES schools. They are mainly recruited from Canada, USA, UK and South Africa.
IES’s student base is in high growth. Over the past ten years, total operating income has increased organically by an average of 19% per year. In the most recent financial year 2016/17, which concluded on 30 June 2017, total operating income was SEK 2,043.3 m, an increase of some 13% year on year. As of 30 March 2018, there were approximately 179,000 applications in the waiting list to secure a place for the current and forthcoming years.
Internationella Engelska Skolan has been listed on Nasdaq Stockholm Mid Cap, with the ticker ENG, since the end of September 2016. The largest (indirect) shareholders of IES are TA Associates of the US, which has close affiliations to leading universities and foundations in the US, and IES’s founder Barbara Bergström. Other major shareholders as of the end of June 2018 include Paradigm Capital, investment company Öresund, Swedbank Robur fonder, the Third Swedish National Pension Fund, SEB fonder and AMF Försäkring & Fonder (owned jointly by LO, The Swedish Trade Union Confederation and the Confederation of Swedish Enterprise).
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