Tellusgruppen (TELLUS) Q1 2026 earnings summary

Executive summary

• Revenue grew 5.0% year-over-year to 138.2 MSEK, entirely from organic growth, with all major segments contributing.

• EBITDA reached 17.9 MSEK (margin 13.0%), slightly up from 17.4 MSEK last year, but margin declined due to lower government grants and higher external costs.

• Net result per share improved to -0.11 SEK from -0.24 SEK year-over-year.

• The group transitioned to IFRS reporting, enhancing transparency and comparability.

• The number of children and students increased to 2,717, up 1.7% year-over-year.

Financial highlights

• Operating income (EBIT) was 2.2 MSEK, up from 0.5 MSEK last year.

• Cash flow from operations was 18.4 MSEK, down from 24.3 MSEK, mainly due to lower government grants and increased investments in the AI project Kentaur.

• Liquidity at period end was 5.4 MSEK, compared to 11.4 MSEK last year.

• Net debt/Adjusted EBITDA (excl. IFRS16) improved to 0.9x from 1.1x.

• Solid equity ratio increased to 12.1% from 8.9% year-over-year.

Outlook and guidance

• Continued focus on organic growth, operational efficiency, and selective acquisitions.

• Launch of the AI-based Kentaur platform in preschools expected to drive cost savings and operational control, with potential for commercialization.

• No formal financial forecasts provided.