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: Johan L÷nnqvist SundTn - Carnegie Investment Bank - Analyst
: Good morning. Thank you for taking my question. I have one first on the preschool business, where you show quite interesting margins. And just
curious to get some comments on how much of this that should be extrapolated going into next year. You made first one acquisition, a quite big
equity during the spring. Where -- which should be margin dilutive for the segment? Is there -- or should there be enough with the kind of better
compensation for the inflationary environment to hold up margin or how should we think about margins in preschools for next year?
Question: Johan L÷nnqvist SundTn - Carnegie Investment Bank - Analyst
: Okay. So at least the [4.8] reported this year should be achieved next year despite the dilutive dividends.
Question: Johan L÷nnqvist SundTn - Carnegie Investment Bank - Analyst
: Excellent. That was the first one. I get back in line. So if there's no more question in there on the call.
Question: Karl-Johan Bonnevier - DNB Markets - Analyst
: Yes, good morning, Marcus and Petter. A good development, no doubt in the fiscal year. And looking at the student growth numbers, you alluded
to mark this to 109,000. Could you give us some idea about how it looks across the segments at this stage?
Question: Karl-Johan Bonnevier - DNB Markets - Analyst
: But I guess if you look at the particularly the Upper Secondary School segments, do you still see growth in year one students year on year? I guess
that's the most important kind of indication.
Question: Karl-Johan Bonnevier - DNB Markets - Analyst
: That's fine. Looking at the growth case for (inaudible) and preschool, Germany, what kind of ambitions do you have for this year of new openings
and what is the extended pipeline for new openings in Germany?
Question: Karl-Johan Bonnevier - DNB Markets - Analyst
: Excellent. And when you look at the acquisition pipeline, is there any new areas you would suggest or is it digging deeper where you are?
Question: Karl-Johan Bonnevier - DNB Markets - Analyst
: Excellent. And when two last now has now been part of your operation for a period, then I guess the management team there is driving more of
a profit margin expansion recoveries case for it. Do you feel better confidence that in that's the case now when you have been owner of it for a
while, or how do you see that case developing?
Question: Karl-Johan Bonnevier - DNB Markets - Analyst
: Excellent. And one final for me. Looking at Adult Education, good move in the continued underlying margin recovery. If you look at the backlog
and the tender kind of situation that you are now exposed to in this fiscal year, do you see still an opportunity for margin expansion or should we
expect it to be more stable at the current level.
Question: Karl-Johan Bonnevier - DNB Markets - Analyst
: Excellent. And just on that with the voucher part of that business increasing, so to say, I guess that should fit your business model even better to
some extent.
Question: Karl-Johan Bonnevier - DNB Markets - Analyst
: Excellent. Thank you very much. I will go back.
Question: Beltran Palazuelo - DLTV Europe - Analyst
: Good morning, Marcos, peter. Congratulations on the strong results. I have a couple of questions, if I may. Maybe you can comment on first of all,
on the cost for next fiscal year and let's say salaries and rents or maybe you could give us some, let's say, light on that.
Then the second question I have this regarding acquisitions. I know you just commented in the previous question, but maybe let's say apart from
the things you mentioned, the let's say, the amount that you're willing to spend how aggressively. [The shape of] opportunity arise there. And then
without of course, we now let's see what will eventually be for the how do margins look for next fiscal year? We think that the let's say, (inaudible),
let's say, keep on going to the target margins.
And my last question is regarding the retention program and what -- I know it's not decided exactly the amount, but they would, let's say, what
type of amount you think that the balance sheet can have. And then the last question about the retention, why retention it's quite weird. You do
the retention, why not a normal buyback because the retention creates a lot of, let's say, admin should work. So maybe -- or not to buyback.
Question: Beltran Palazuelo - DLTV Europe - Analyst
: Understood. So maybe the retention rate last year was SEK266 million and our net results have gone up, let's say, 9.3%. It is, let's say likely that the
-- it is higher. It can be a good estimate.
Question: Beltran Palazuelo - DLTV Europe - Analyst
: Okay. Thank you very much. And all the support from our side. And thank you for the hard work.
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