Cedergrenska (CEDER) investor relations material

Executive summary

• Revenue for Q4 2025/26 increased by 14.5% year-over-year to 420.9 MSEK, with full-year revenue up 29.9% to 1,601.3 MSEK.

• EBITA for Q4 was 28.1 MSEK (down from 33.1 MSEK), with a margin of 6.7% (9.0%). Full-year EBITA rose to 122.5 MSEK, margin stable at 7.6%.

• Net income with goodwill adjustments for the year was 88.7 MSEK, up from 71.7 MSEK. EPS (goodwill-adjusted) for the year was 6.91 SEK (5.04 SEK).

• Organic growth contributed 4% of Q4 revenue increase; acquisitions of Skärgårdsgymnasiet and Carl Wahren gymnasium expanded the group.

Financial highlights

• Q4 EBITDA was 32.6 MSEK (36.5 MSEK prior year); full-year EBITDA reached 139.1 MSEK (105.3 MSEK prior year).

• Cash flow from operations for the year was 96.2 MSEK (81.7 MSEK prior year).

• Net debt at year-end was 60.7 MSEK, compared to net cash of -38.2 MSEK last year.

• Equity at year-end was 130.7 MSEK, down from 179.8 MSEK, reflecting dividends and share buybacks.

Outlook and guidance

• Forecast for 2026/27: revenue growth of at least 10%, EBITA margin of at least 7%, net profit of at least 90 MSEK, and EPS of at least 7.3 SEK.

• Dividend proposal of 2.5 SEK per share (2.28 SEK ordinary, 0.22 SEK extra), totaling 36% of goodwill-adjusted net profit.