The education app Albert is restructuring its operations in France, housed in its subsidiary Kids MBA, as part of efforts to improve the profitability of the group. This is stated in a press release.

"The decision to reduce resources to Kids MBA is an important part of our strategy to focus on our most profitable businesses while ensuring that we work towards strengthening the group's profitability. Although revenues in Kids MBA will be negatively affected, we expect a clear improvement in EBITDA going forward through these measures", says CEO Jonas Mårtensson.

The decided measures will have no expected impact on the company's EBITDA for the fourth quarter of 2024. For the full year 2025, it is expected to result in a decrease in net revenue of approximately SEK 5 million and a decrease in personnel and external costs of approximately SEK 13 million, which together are expected to improve EBITDA by around SEK 8 million. The cash flow of the Albert Group will be positively affected by the measures.

As a result of the decision, a non-cash impairment of surplus values in the Group totaling SEK 16 million will also take place. The write-downs will be taken in the third quarter.

At the beginning of the year, Albert initiated a profitability program to take the company to profitability by 2025. During the first quarter, a restructuring of the Group and the operations in Sweden and the UK was carried out. The operations in France are now also being restructured.