The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: I wonder if you could start just helping us to see how these timing effects will impact, say, the upcoming year. If you're looking at vacation costs,
is that going to be the same pattern for this year that maybe Q1 is going to be stronger and where you have a release of vacation pays? And also
looking at the new setup of the pension cost and maybe also elaborate a little on how the timing effects in the delayed payments in Norway is
going to catch up during this year compared to last year.
REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us
consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.
AUGUST 31, 2021 / 7:30AM, ACADE.ST - Q4 2021 AcadeMedia AB Earnings Call
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: Yes. Obviously, the Norwegian payment system, is this kind of 2-year delay from when you really see the cost impact? And I guess, it was 2 years
ago now that you really saw the big cost impact in Norway. So would you expect to see the full catch up for that in the coming year?
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: And Marcus, very good that you started to reveal this to -- at least preliminary student numbers. And it seems like you have a good uptake in the
schools for this year. How could you describe it compared to the previous years?
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: And when you look at those 16,000 that you now see starting with you in year 1, how does that number compare to last year?
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: When I look at the average of 7% growth, at least what I had in my -- I'm not sure if that's a confirmed number for you, but I think I had a number
that suggests that you have a, say, 10%, 11%, 12% growth in the year -- number, year 1, students or something like that. So...
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: Excellent. Yes. No. That's a nice carryover number for you as well, I guess, so because I guess most of those are entering, say, 2- to 3-year programs
as well at least. Or...
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: Excellent. And Katarina, you mentioned that, well, you have never had such a strong balance sheet ever at least during the disincarnation of the
listed company, so to say, and you're well below the 3x net debt-to-EBITDA target that the Board has set for you. What is your preferred capital
allocation at this time? What are you looking to do with that opportunity you have on the balance sheet?
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: Good. Just one final for me then. I'll not follow that route anymore. If you look at the, what you call, described as stable portfolio you now have in
Adult Education for maybe the next 12 to 24 months, are there any good tender opportunities for you out there to gain even better exposure to
this market for the moment?
REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us
consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.
AUGUST 31, 2021 / 7:30AM, ACADE.ST - Q4 2021 AcadeMedia AB Earnings Call
|
