The 2019/2020 financial year can be divided into two separate periods. The time before, and the time during, the Covid-19 pandemic. In the combined Annual and Sustainability report published today, AcadeMedia details how, in March 2020, the entire organisation rapidly rose to the challenge to both reduce the spread of infection and adhere to the companyâs core mission â contribute to the societies of the three countries in which the group operates with high quality education.
AcadeMediaâs CEO Marcus Strömberg:
âOur employees have made an incredible effort to meet these new conditions and to create continuity for all children, students, and adult education participants. The expertise in, among other things, digitalisation of teaching that we have built up over many years helped us to cope with the rapid, and, for many, turbulent, change that spring entailed.â
The Annual and Sustainability report details both how the pandemic affected different parts of the organisation, and how AcadeMedia worked to handle the new situation. Financial impact, however, has been limited. The biggest difference compared with the previous year is the turnaround made by our Adult Education segment, and where we also see strong demand moving forward.
âIn 2019, the forecasts already showed that unemployment was expected to increase in 2020. The corona pandemic exacerbated the situation and the public investments now being made in adult education are important both for individuals and for society as a whole. AcadeMedia is Sweden's leading provider of adult education and labour market services and is well equipped to contribute to these initiatives.â
During the 2019/20 financial year, 182,400 children, students, and adult education participants attended one of AcadeMedia's units. The number of preschools, schools and adult education facilities was 661. Turnover was SEK 12.3 billion and operating profit (EBIT) was SEK 973 million. Excluding the effects of IFRS 16, EBIT was SEK 763 million. The Board of Directors has proposed a dividend of 1.50 per share to the Annual General Meeting.
AcadeMediaâs 2019/2020 annual report is now available on the corporate website. The Sustainability report is located on pages 26-53.
A PDF-version of the annual report is also available as an attachment to this press release.
Shareholders and other interested parties who wish to receive a printed copy of the annual report may order it via email@example.com
Operational facts for the financial year 2019/20 (year average)
Number of employees: 17,600
Number of pre-schools in Sweden: 144
Number of pre-schools in Norway: 104
Number of pre-schools in Germany: 47
Number of compulsory schools: 74
Number of upper secondary schools: 143
Number of adult education units: 150
Financial key ratios
Net sales: SEK 12.3 billion
Operating profit: SEK 973 million. Excluding the effects of IFRS 16, EBIT was SEK 763 million
Profit for the year: SEK 431 million
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 Ìs 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 Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET 27 October 2020.