Internationella Engelska Skolan, IES, has signed a rental contract with property company Platzer Fastigheter AB to build a new school in Södra Änggården in Gothenburg. A rental contract has also been signed with the property company Altira Väsby AB regarding a property in Upplands Väsby, north of Stockholm, which will be transformed into a school.
The school in Gothenburg is located just west of the city centre, in Södra Änggården, which is an entirely new neighbourhood that is equally close to nature and the city. The area is part of a project conducted by the City of Gothenburg in close partnership with municipal, private and cooperative players in the construction industry and encompasses a large number of residential properties. Completion of the school is planned for the 2022/23 academic year. It will be a compulsory school with three parallel classes for grades F–9, and will accommodate approximately 900 students when fully developed.
The school in Upplands Väsby is located in a quiet neighbourhood with several green areas. The school is scheduled for completion by the 2020/21 academic year and will be a compulsory school with two parallel classes for grades F–9. When fully developed, the school will accommodate approximately 600 students.
Cecilia Marlow, Interim CEO of Internationella Engelska Skolan, comments: “Over the next few years close to 1,000 new schools need to be built in Sweden for the increasing number of children reaching school age. This is major challenge for many municipalities, financially as well as practically. That’s why we’re pleased to be able to announce two new schools that will complement the municipality’s own schools. We look forward to welcoming all students to modern premises where, in a safe and calm learning environment, they can be motivated to do their best.”
P-G Persson, CEO for Platzer, comments: “We have now placed the next piece of the puzzle in the development of Södra Änggården. We’ve previously sold residential construction rights in the area, and together with these parties we’re now developing the area into a vibrant part of the city. We look forward to being able to offer an attractive school in one of the best parts of the neighbourhood – adjacent to the Änggårdsbergen nature reserve.”
Oscar Christensson, CEO of Altira, comments: “We’ve had discussions with Engelska Skolan and the Upplands Väsby Municipality since the end of 2018 about the possibility of establishing a school at our property on Smedbyvägen, and now that it’s happening, it’s quite exciting. We believe that this will strengthen the area and have a positive effect on the municipality as a whole.”
Both agreements are conditional upon licenses from the Swedish Schools Inspectorate, and on other relevant regulatory decisions. The contract with Platzer is also conditional on a board decision at Platzer.
For more information please contact:
Emma Rheborg, Head of Communication and IR, IES
Telephone: +46 (0)768 511 540
E-mail: [email protected]
Internationella Engelska Skolan i Sverige Holdings II AB (publ) discloses the information provided herein pursuant to the EU’s Market Abuse Regulation. The information was submitted for publication, through the agency of the above contact, on 27 June 2019 at 16:00 CEST.
About Internationella Engelska Skolan
Internationella Engelska Skolan, IES, is one of the leading free school operators in Sweden with some 25,600 students at 36 schools, and about 3,200 students at its schools in Spain.
IES Sweden 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 17 of the 20 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 environment, where teachers can teach and students learn.
- To command the English language − the key to the world.
- High academic expectations and targets.
Up to half of the teaching in IES schools in Sweden is in English, by native English speaking teachers. Over 800 teachers with qualified foreign teaching degrees are currently teaching in IES schools. They are mainly recruited from Canada, the USA, the UK and South Africa.
IES’s student base is in growing strongly. 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 31 March 2019, there were approximately 199,700 applications in the waiting list to secure a place in the Swedish schools for the current and forthcoming years.
Internationella Engelska Skolan has been listed on Nasdaq Stockholm Mid Cap, with the ticker ENG, since 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 February 2019, the 10 largest shareholders also included Paradigm Capital, 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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