Half Year 2021 AcadeMedia AB Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst : First of all, congratulations to another fantastic quarter. Just to come back to the previous question about these canceled and delayed effects. Katarina, is it fair to say that you would expect these kind of costs to, say, not sure come again in the similar quarter next year rather than something that should impact this year. Is that -- how to interpretate your answer?

Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst : Excellent. And when you look now into, I guess, the next quarter -- next quarter is really the quarters where you say market yourself to -- in new students. And I guess you must have learned a lot about how to do that as we have the pandemic in the similar period last year. Is this -- has this changed your way of doing these kind of activities to a large degree and in a more cost-efficient way as well? Is that something we should have in our minds?

Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst : And when you're looking at opening 3 new schools this autumn, has that been impacted that there is more, say, more difficult to market new kind of schools rather than existing schools in this new setup for you or is that just looking at where you have seen opportunities before that you are now there to go for, so to say? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. FEBRUARY 03, 2021 / 8:30AM, ACADE.ST - Half Year 2021 AcadeMedia AB Earnings Call

Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst : Excellent. And looking at, as you said, capacity utilization still being an opportunity, and I guess that also fits into to, say, a slightly lower increase in the voucher price still being very possible for you to mitigate from a cost perspective, so to say.

Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst : Excellent. Katarina, you mentioned that the free cash flow was maybe a little exaggerated on the working capital side. Do you see that -- is there any, say, temporary things we should see go out already in Q3 here? Because I guess that number was exceptional.

Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst : Fantastic. And just finally, following up on the acquisitions as well. Sounds like, Marcus, when you talked about it, that you feel that you have, say, your ongoing business structure so well in place, so you can spend more time looking for these opportunities again. Is that a way of looking at it? Or -- and also, do you see similar opportunities outside the Swedish footprint?

Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst : Interesting. Interesting. I'll definitely come back to you and discuss that in more detail with you. And one final for me. Looking at Adult Education, if we annualize the Q2 revenue base of slightly below SEK 500 million, is that where you basically have this operation running now? It's close to SEK 2 billion in revenues? Is that a good way of looking at it?

Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst : There is no exceptional programs in this quarter that is going away, say, in coming quarters. It's rather more programs that are coming into that structure. So...

Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst : Just on Adult, I guess it's hard to give, say, a rule of thumb for it. But when you have listed a student in the program here, what's the average duration that a student remain in the program?

Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst : And finally, on Adult Education. Looking at the -- ramping up the activity to this new high level, you have been able to find and secure, say, quality staff to drive the operation?