10/02/2019 | Press release | Distributed by Public on 10/02/2019 02:22
The number of children and students in AcadeMedia's three school segments increased by 3.4 percent for the first quarter of 2019/20 compared with the corresponding period last year. During the quarter, the average number of children and students attending the AcadeMedia's preschools and schools reached81,468 (78,770). Growth in all three segments is purely organic. The figures are preliminary.
Strong growth in AcadeMedia's German preschools
As of July 1st, thePreschool Segment consists of preschools in Sweden, Norway and Germany.
In Germany, six new preschools opened in August and September with a total capacity of approximately 500 children. This represents an increase of 16 percent compared to the number of preschool places in June 2019. During 2019/20 a further nine preschools are planned to open, adding more than 600 places in total. In addition, there are already agreements in place to start preschools with around 1,800 places. This means that within a couple of years there will be more than 6,000 preschool places in Germany and there is a pipeline of additional new establishments under negotiation.
During the previous year 2018/19 the Swedish preschool operation was affected by a number of strategic decisions with the aim to improve margins. A review of the unit portfolio was conducted and resulted in twelve units being divested or closed. In total, the number of children has declined with approximately 800 following these decisions and during 2018/19 these units contributed around SEK 100 million of sales.
In Norway, one new preschool opened in August. During 2019/20, this new preschool will have a capacity of 50 children and will thereafter gradually increase to 120 children in the autumn of 2021. In Sweden one new preschool has started and two preschools will be acquired as per October 1st.
In total, the average number of children has increased by 1.4 percent to 20,015 (19,741) in the first quarter compared to the same period last year. Adjusted for the twelve divested or closed units in Sweden, the average number of children increased by 5.6 percent in the Preschool Segment.
AcadeMedia's compulsory schools grow with 3.0 percent organically
The Compulsory School Segmentincreased the average number of students by 3.0 percent to 24,689 (23,964) in the first quarter which is entirely attributable to organic growth. Adjusting for the closure of one compulsory school with around 170 students the growth was 3,8 percent. The main part of the growth is on existing schools which in some cases have expanded their capacity.
AcadeMedia's upper secondary schools grow with 4,8 percent through new establishments
The upper Secondary School Segment increased the average number of students by 4.8 percent to 36,764 (35,065) in the first quarter. The growth is primarily due to the opening of four new schools as well as the addition of one more class in the ten schools that opened in the autumn of 2018 and 2017. This year's four new units will have a capacity of approximately 1,200 students when fully expanded.
Higher Vocational Training increases number of students with more than 30 percent
In the Adult Education Segment, the Higher Vocational Training business area admits participants every autumn to their education programmes. The length of the programmes varies, but most are two-years. In the autumn of 2019, preliminary numbers show that the number of participants has increased with more than 30 percent to 6 700 (5 076). Higher Vocational Training contributed to 18 percent of turnover in the Adult Education Segment in 2018/19.
For more information, please contact:
Eola Änggård Runsten, CFO
Telephone: +46 8 794 4240
E-mail: [email protected]
AcadeMedia creates opportunities for people to develop. The 16,900 employees at our 660 preschools, compulsory schools, upper secondary schools and adult education centres share a common focus on quality and development. Our 180,000 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 CET 2 October 2019.