Internationella Engelska Skolan, IES, has signed a lease agreement with Vasakronan to open a new school in the Municipality of Solna from the academic year 2020/21. The operations will be conducted in the Huvudsta area and will cover compulsory school grades 4-9. The initial estimated number of classes is 14, and at capacity, the school will have 30 classes.
Annette Brodin Rampe, IES’s CEO commented: ”We want to be part of the solution to the substantial challenges facing schools in Sweden, and at the same time meet the huge demand from municipalities who would like us to open schools in a number of new places quickly. We are therefore delighted to have the opportunity to open another school for students in the Stockholm and Solna area, where we have a long queue. In this way we can give more students the opportunity to receive the high-quality education in a safe and calm environment that IES offers. We look forward to being an integrated part of Solna’s fast growth and helping meet its aspirations to offer good education.”
For more information, please contact:
Johan Hähnel, IR Manager, IES
Tel: +46 (0)70 605 6334
e-mail: [email protected]
This information is such that Internationella Engelska Skolan i Sverige Holdings II AB (publ) is obliged to publish pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above contact, at 16.00 p.m. CET on 20 September 2018.
About Internationella Engelska Skolan
Internationella Engelska Skolan, IES, is one of the leading free school operators in Swedenwith some 25,600 students at 36 schools at the beginning of the academic year 2018/19 and 1,800 students in our fully owned schools in Spain. IES operates schools for students in grades F-12. Its main focus is grades 4-9, what is often called “middle school.” Within the compulsory school system in Sweden, IES is the leading independent operator, with nine of the ten largest free schools. IES’s results on the national tests in grade 9 are far above average in Sweden. Internationella Engelska Skolan was founded in 1993 and is in its 26th year of operation. Throughout this period, its schools have been defined by the three core convictions of its founder, Mrs. Barbara Bergström:
- A safe and orderly school environment, where teachers can teach and students learn.
- Commanding the English language—the key to the world.
- High academic expectations and ambitions.
Up to half of the teaching in IES schools is in English, by native English speaking teachers. Over 700 teachers with qualified foreign teaching degrees are currently teaching in IES schools. They are mainly recruited from Canada, USA, UK and South Africa.
IES’s student base is in high growth. Over the past ten years, total operating income has increased organically by an average of 19% per year. In the most recent financial year 2017/18, which concluded on 30 June 2018 total operating income was MSEK 2,347.9, an increase of some 15% year on year. As of 30 June 2018, there were approximately 190,000 applications in the waiting list to secure a place for the current and forthcoming years.
Internationella Engelska Skolan has been listed on Nasdaq Stockholm Mid Cap, with the ticker ENG, since the end of September 2016. The largest (indirect) shareholders of IES are TA Associates of the US, which has close affiliations to leading universities and foundations in the US, and IES’s founder Barbara Bergström. At the end of June 2018, the 10 largest shareholders also included Paradigm Capital, investment company Öresund, Swedbank Robur fonder, the Third Swedish National Pension Fund, SEB fonder and AMF Försäkring & Fonder (owned jointly by LO, The Swedish Trade Union Confederation and the Confederation of Swedish Enterprise).
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