Cedergrenska AB (publ)

Välkomna. Utbildningskoncernen C.D. Grenska, som bedriver utbildning för barn och elever från förskoleålder till eftergymnasiala utbildningar, har publicerat kvartalsrapport för det andra kvartalet 2025-2026, i det brutna räkenskapsåret. Det avser perioden oktober till och med december. As usual, I have the founder and board member Niklas Poulsson in the studio. Welcome. Thank you, it's great to be here. Just because it's about education, it's hard for me to speak at all. A few weeks ago, you published a reverse profit warning with preliminary figures for the quarter. But before we go over them, how would you describe the quarter in general?

It's a very, very eventful quarter where the company has really delivered in many different ways. If we think, for example, of what we have promised in order to change our entire balance sheet towards a more optimal capital structure. This was the quarter when we were able to fully implement our resale program, 50 million. For the first time, we were able to implement the high-ordinary divisions. 1,90 per share went out to the division in December. We were able to continue to show, through our acquisition strategy, that we could to add to the group another nice business in the form of Kristina's schools in Lidingö. And then we ended up at about 0.6 in net debt, still a bit from the around 1.0 that we have said is optimal for us to rely on. So that shows everyone that we are on the way to 312, a lot happened in the quarter, but there is still a journey to be done with regard to an optimal capital structure. So, a lot of focus on that, a lot of focus on investments. There have been a lot of new jobs in the quarter, and that partly explains why the margin is lower in the second quarter than it was in the first. But these are really nice new jobs that will benefit the entire company for our continued journey forward. And I think everyone also sees that even with those done, it is a very nice, stable, underlying profitability. And of course, a quarter marked by a lot of new information about the regulatory changes that will come this summer and after the election.

Yes, you're starting to become a big employer. There are about 1,700 employees in this team.