AcadeMedia’s operating profit higher than expected for the first quarter 2020/21
AcadeMedia has had a stronger first quarter than expected by the market. Net sales are estimated to be SEK 2,650 million (2,502), an increase of around 6 percent compared to last year. Operating profit adjusted for the effects of IFRS 16 is estimated to be SEK 150 million (75).
Continued high demand for adult education and more vacation days compared to last year had a positive impact on operating profit. The Adult Education Segment’s fast volume growth has meant that expenses are lagging behind, giving a temporary positive margin impact. The positive vacation effect is expected to even out over the course of the year.
All figures in this press release are preliminary and unaudited. AcadeMedia will not make any further comments until after the interim report for the first quarter 2020/21 is published on October 23 at 08:00 CEST.
For more information, please contact:
Hanna Clausén, IR contact
Telephone: +46 8 794 42 62
AcadeMedia creates opportunities for people to develop. The 17,600 employees at our 661 preschools, compulsory schools, upper secondary schools and adult education centres share a common focus on quality and development. Our 182,000 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 October 9, 2020.