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    ALBERT   SE0016797989

EEDUCATION ALBERT AB (PUBL)

(ALBERT)
  Report
Delayed Nasdaq Stockholm  -  09:59 2022-12-05 am EST
18.54 SEK   -2.22%
11/01EEducation Albert AB Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
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10/26Invitation to the presentation of Albert's interim report for January-September 2022
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10/21EEducation Albert strengthens the market position in the Nordics - launches in Finland as a new market
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Albert initiates collaboration on language apps for older children

10/27/2021 | 02:31am EST

eEducation Albert ("Albert"), a leading Nordic EdTech player, has today entered a license agreement with Simya Solutions Ltd. ("Simya") regarding content for language apps for children 13-16 years. Through the agreement, Albert will broaden its product offering in all its markets, with launch planned to take place during the second quarter of 2022.

The licensed content is currently offered through Simya's app Ling, with overall high ratings in App Store and Google Play. Ling is currently used by millions of users in markets mainly outside Europe. Through the collaboration, Albert will be able to offer children 13-16 years the opportunity to learn more languages. Initially, it covers English, German, French, Spanish and Italian. The collaboration is in line with Albert's ambition to broaden the product offering for older children in all its markets. Currently, only mathematics and, in some markets, geography are offered to the older age category.

Arta Mandegari and Salman Eskandari, founders of Albert, said: “Language is high on our customers’ wish list when it comes to new products. We are therefore pleased to initate this collaboration where we will license well-proven content and offer it to the older age categories in all our markets. By offering language learning, we create even better conditions for continued growth, while the licensing structure is a time and cost effective way to evaluate the value of a new service, ahead of the decision to own the content.”

Both integration and launch of the content are planned to the second quarter of 2022. The pilot agreement runs until the end of 2022.

For additional information, please contact:
Arta Mandegari, CEO and Co-founder
Mobile: +46 (0)72 309 64 94
Email: arta@hejalbert.se

Salman Eskandari, Deputy CEO and Co-founder
Mobile: +46 (0)70 727 93 75
Email: salman@hejalbert.se

© Modular Finance, source Nordic Press Releases

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Financials
Sales 2022 124 M 11,9 M 11,9 M
Net income 2022 -91,0 M -8,76 M -8,76 M
Net cash 2022 104 M 10,0 M 10,0 M
P/E ratio 2022 -3,66x
Yield 2022 0,84%
Capitalization 336 M 32,4 M 32,4 M
EV / Sales 2022 1,87x
EV / Sales 2023 1,57x
Nbr of Employees 70
Free-Float 40,6%
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Number of Analysts 0
Last Close Price 18,96 SEK
Average target price 56,00 SEK
Spread / Average Target 195%
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Managers and Directors
Arta Mandegari Chief Executive Officer
Martin Dahlgren Head-Finance
Jacob Andreas M°ller Chairman
Ehsan Yazdani Head-Technology
Jonas Magnus Mňrtensson Chief Operating Officer