Internationella Engelska Skolan opens two new schools – in Sigtuna and Värmdö

Internationella Engelska Skolan (IES) has signed rental contracts with development company Turako AB for the construction of two new schools in the Greater Stockholm area that are scheduled to open for the start of the 2021/22 academic year.

The school in Sigtuna will be built in Sigtuna Stadsängar, a new-build area featuring a sustainability profile, located just outside central Sigtuna. A large number of new homes are being built in this new city district, which is close to lake Mälaren and wooded areas but also offers good transportation links to Sigtuna and Märsta. Completion of the school is planned for the 2021/22 academic year, and it will be a compulsory school with two parallel classes for grades F–9, and will accommodate approximately 600 students when fully developed.

The new school in Värmdö will be built in the Charlottendal area, just southwest of Gustavsberg centre. Värmdö is currently experiencing rapid expansion and the IES school will be centrally located close to a newly build residential area with good access to public transport. The school is scheduled for completion by the 2021/22 academic year and will be a compulsory school with two parallel classes for grades F–9. When fully developed, the school will accommodate approximately 600 students.

Cecilia Marlow, Interim CEO of Internationella Engelska Skolan, comments: “Together with Turako, we are happy to be part of Sigtuna and Värmdö municipalities’ investments to provide more schools and quality education for all students, regardless of background. Many parents have campaigned for an IES school in these areas for a long time, and it is therefore gratifying that we will now build two brand-new schools there. We look forward to welcoming all students to brand new premises where, in a safe an orderly environment, they can be motivated to do their best.”

“We are very pleased that our partnership with IES is continuing. Our different experiences will enable us to swiftly reach a joint vision for the design of the schools. In turn, this will create a solid platform to deliver the continuous improvements that we both want to offer to students and staff at each new school,” says Magnus Widén, CEO of Turako.

The properties will have Nordic Swan Ecolabel certification and both contracts are contingent on being granted building permits. IES has already secured permission from the Swedish Schools Inspectorate.

For more information for the media and investors, please contact:
Emma Rheborg, Head of Communications and IR, IES
Telephone: +46 (0)768 511 540 
E-mail: emma.rheborg@engelska.se

For parents requesting information about queues and admission, please contact 
E-mail: info@engelska.se
Website: www.engelska.se

This information is such information that Internationella Engelska Skolan i Sverige Holdings II AB (publ) is obligated to publish in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above contact, on 18 October 2019 at 14:15 CEST.

    
About Internationella Engelska Skolan

Internationella Engelska Skolan, IES, is one of the leading free school operators in Sweden with some 26,800 students at 37 schools, and about 2,500 students at its schools in Spain.

IES Sweden conducts school operations from “förskoleklass” (grade F) up to the third and final year of upper secondary school (grade 12). 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 17 of the 20 largest free schools. The academic results of IES schools on the national tests in grade 9 are far above average in Sweden.

Internationella Engelska Skolan was founded in 1993 and is in its 27th 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 aspirations.

Up to half of teaching is conducted in English by teachers whose native language is English. Over 800 teachers with qualified foreign teaching degrees are currently teaching in IES schools. They are mainly recruited from Canada, the USA, the UK and South Africa.

The IES student base is growing strongly. Over the past ten years, total operating income has increased by an average of 19% per year. In the most recent financial year 2018/19, which concluded on 30 June 2019, total operating income was MSEK 2,781.1, an increase of some 18% year on year. As of 30 June 2019, there were approximately 191,700 applications in the queue to secure a place in the Swedish schools for the current and forthcoming years.

Internationella Engelska Skolan has been listed on Nasdaq Stockholm Mid Cap, with the ticker ENG, since 2016.

The largest (indirect) shareholders of IES are TA Associates of the US, which has close affiliations to leading universities and trusts in the US, Barbara Bergström, the founder of IES, and Paradigm Capital AG through different funds. At the end of September 2019, the 10 largest shareholders also included Swedbank Robur fonder and AMF Försäkring & Fonder (owned jointly by LO, the Swedish Trade Union Confederation and the Confederation of Swedish Enterprise).

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