Aprendere Skolor (APRNDR) Q4 23/24 earnings summary

Executive summary

• Net sales for Q4 increased by 8.7% year-over-year to 88,024 TSEK, driven by higher student numbers and acquisitions.

• EBIT for Q4 was -3,811 TSEK (EBIT margin -4.3%), impacted by higher costs and one-off legal expenses.

• Adjusted EBIT (excluding one-offs and goodwill write-downs) was -1,750 TSEK for Q4.

• Student count rose 5% to 1,680 at quarter-end; full-time staff increased 15.6% to 312.

• Acquisition of Hörby Yrkesgymnasium completed, effective August 1, 2024.

Financial highlights

• Q4 net sales: 88,024 TSEK (81,011), up 8.7% year-over-year.

• Q4 EBIT: -3,811 TSEK (2,571); adjusted EBIT: -2,987 TSEK (7,152); further adjusted EBIT: -1,750 TSEK (7,152).

• Q4 net income: -2,356 TSEK (1,380); EPS: -0.38 SEK (0.64).

• Operating cash flow Q4: 6,807 TSEK (10,352), down 34.2%.

• Full-year net sales: 352,504 TSEK (283,968), up 24.1%; full-year EBIT: 1,598 TSEK (8,959).

Outlook and guidance

• Focus on clarifying school profiles and increasing visibility to attract more students.

• Plans to continue acquiring new operations to drive synergies and cost efficiencies.

• Central finance system upgrade planned to improve analysis and follow-up.