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Beskrivning

LandSverige
ListaFirst North Stockholm
SektorTjänster
IndustriAllmänna tjänster
eEducation Albert är verksamma inom teknik- och utbildningsbranschen. Bolaget tillhandahåller en app-baserad utbildningsplattform för barn i åldersintervallen 3 –16 år med målsättningen att erbjuda barn en skräddarsydd läroupplevelse. Bolaget erbjuder digitala utbildningstjänster på prenumerationsbasis, där övningarna är anpassade till skolans läroplan. Exempel på ämnen som går att studera är modersmål, matte och geografi. Bolaget är verksamt i Europa. Bolaget har sitt huvudkontor i Göteborg.
2022-11-01 07:30:00

ARR EXCEEDS SEK 150 MILLION. SUCCESSFUL ESTABLISHMENT OF B2C-BUSINESS FOR SUMDOG IN THE UK

1 JULY – 30 SEPTEMBER 2022
• Annual recurring revenue (ARR) amounted to SEK 152.0 (81.0) million, corresponding to an increase of 88 percent, of which 34 percent relates to organic growth and 54 percent acquired growth.
• Net sales amounted to SEK 33,118 (17,520) thousand, corresponding to an increase of 89 percent, of which 30 percent relates to organic growth and 59 percent acquired growth.
• EBITA amounted to SEK -21,428 (-17,520) thousand.
• Profit before tax for the period amounted to SEK -28,225 (-18,004) thousand.
• Profit after tax for the period amounted to SEK -26,795 (-18,004) thousand.
• Earnings per share amounted to SEK -1.52 (-1.48), before and after dilution.
• Cash flow from operating activities amounted to SEK -7,441 (-11,760) thousand.
• Cash and cash equivalents at the end of the period amount to SEK 120,129 (30,209) thousand.

1 JANUARY – 30 SEPTEMBER 2022
• Annual recurring revenue (ARR) amounted to SEK 152.0 (81.0) million, corresponding to an increase of 88 percent, of which 34 percent relates to organic growth and 54 percent acquired growth.
• Net sales amounted to SEK 88,876 (44,028) thousand, corresponding to an increase of 102 percent, of which 45 percent relates to organic growth and 57 percent acquired growth.
• EBITA amounted to SEK -55,992 (-40,411) thousand. Nonrecurring items affected EBITA with SEK 1,732 thousand
which related to transaction costs in connection with the acquisition of Sumdog Ltd in February 2022.
• Profit before tax for the period amounted to SEK -72,897 (-40,642) thousand.
• Profit after tax for the period amounted to SEK -69,814 (-40,642) thousand.
• Earnings per share amounted to SEK -3.95 (-3.34), before and after dilution.
• Cash flow from operating activities amounted to SEK -53,890 (-33,560) thousand.
• Cash and cash equivalents at the end of the period amount to SEK 120,129 (30,209) thousand.

SIGNIFICANT EVENTS DURING THE THIRD QUARTER 2022
• In July, a cooperation agreement was signed with Egmont Story House regarding content linked to Bamse. Through the agreement, Albert, via its platform for the youngest children "Jaramba", will be able to convey content with Bamse to the age category 2-5 years.
• In September, license agreements were signed with Hatten förlag and Babblarna. Through the agreement, Albert will be able to offer language development books, films, music, games and toys from Hatten Förlag to the age group 1-5 years via its platform for the youngest children "Jaramba".

FOUNDER’S COMMENT
We leave an eventful quarter behind us, not least from a macroeconomic perspective. Inflation, rising interest rates and skyrocketing energy prices have resulted in increasing concern for household finances. From an Albert perspective, it has therefore been more important than ever to frequently and carefully analyze purchasing and usage behavior during the summer months to ensure the return on our investments in growth.

We look back with pride on the third quarter of the year where we managed to deliver an effective summer campaign in the B2C business area that resulted in growth in our annual recurring revenue (ARR) with a return that was within the framework we felt safe investing within. Compared to the previous quarter (Q2), we have seen declining customer acquisition costs and high conversion rates and solid new customer acquisition in all our markets, which overall reinforces our belief that quality educational services for children have continued to be in high demand among family household. The synergies at group level between the acquired businesses are now starting to be realized and are bearing fruit in the operational business, not least through the launch of a broader consumer offer for Sumdog on the British market, which during the third quarter has been one of our most important markets.

Furthermore, our business area B2B has had a quarter behind it with many customers renewing their contracts as well as new customer activity that went well in connection with the start of school which fell at the end of the quarter. At group level, we now pass SEK 151 million in recurring revenue (ARR), which has been an important milestone and good growth compared to both the previous quarter and compared to the same quarter last year. During the past quarter, we have also started the implementation of Bamse in our products within the framework of the agreement entered into with Egmont. The development work has proceeded according to plan and we look forward to being able to offer both our existing and new customers fun learning with well-known children's characters.

Also, we have continued to commit time and resources to our M&A pipeline as we see good opportunities to drive growth while accelerating our journey towards profitability at group level via strategically important acquisitions. We see that company valuations are normalized and developed to become more attractive even in the non-public market, which over time will result in opportunities we will want to execute on. We also note in our dialogues that other European actors and entrepreneurs are attracted to join our journey towards becoming the leading European Ed-Tech actor.

From a business development perspective, during the quarter we maintained a high level of activity in our offerings with the
aim of improving our operational key figures. A successful sample of new offers we like to highlight is the introduction of
annual subscriptions to our customers via our websites, where the results have been promising and rolled out widely in the
Swedish market.

When we look back on the past quarter, we note that we are putting another stable quarter behind us. A quarter where we take clear steps towards our communicated financial goals as well as our goal of becoming a leading player on the European EdTech market. The fact that we succeed in delivering this in a challenging macroeconomic
climate strengthens our belief that we have a powerful and relevant offer both for parents, children, schools and
teachers and that promises an exciting future. An offer that we also intend to strengthen further in the future and
that will lead us forward in our vision of democratizing education for everyone through technology.

Link to the report
The report is attached to this press release and is available at: https://investors.hejalbert.se/uk/reports

Presentation of the report
Today at 09.00 CET, founders Arta Mandegari and Salman Eskandari as well as CFO Martin Dahlgren will hold a presentation of the report via webcast. Link https://www.finwire.tv/webcast/albert/q3-2022/