AcadeMedia announces preliminary financial results for the fourth quarter 2022/2023
AcadeMedia’s net sales increased by 9.0 percent in the fourth quarter and are anticipated to be SEK 4 200 million (3 851). The average number of children and students, excluding the Adult Education Segment, increased by 6.1 percent to 98,988 (93,308). Adjusted operating profit increased compared to previous year and is estimated to approximately SEK 330 million (279).
Overall, the business has developed well with continued good growth in number of children and students, an effect of investments in vocational education, new campuses as well as international expansion. The international operations now constitute about 25 percent of AcadeMedias total net sales. The operating profit was impacted by improved profitability in the Norwegian preschool operation as well as high demand, good cost control, and lower central costs in the Swedish school segments. In the Adult Education Segment, the number of participants in the municipal adult education were lower than last year due to continued low unemployment and lower immigration. Higher vocational education continues to develop well and admissions for the autumn look strong.
All figures in this press release are preliminary and unaudited. AcadeMedia will not make any further comments until after the year-end report for 2022/23 is published Wednesday August 30th 2023, at 08:00 CEST, as earlier communicated.
For more information, please contact:
Hanna Clausén, acting CFO
Telephone: +46 8 794 42 62
E-mail: [email protected]
About AcadeMedia
AcadeMedia creates opportunities for people to develop. The 18,100 employees at our 680 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 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 08:00 CEST 19 July 2023.
