Cruzeiro do Sul Educacional SA (BSP:CSED3)

Q2 2025 Cruzeiro do Sul Educacional SA Earnings Call Transcript

Aug 15, 2025 / 05:00 PM GMT

Release Date Price: R$4.63 (-10.10%)

Transcript

Key Points

Positve

Cruzeiro do Sul Educacional SA (BSP:CSED3) reported a record net income of BRL 149 million for the first half of 2025, surpassing the entire net income of 2024.
The company achieved a 5.6% growth in the on-campus student base, reaching 175,000 students, driven by a 1.5% increase in the retention index.
Digital student base grew by 17.8% year-over-year, reaching 411,000 students, with a 10.6% increase in intake.
Net revenue for the quarter increased by 8% to BRL 721.1 million, attributed to a larger consolidated student base.
The company successfully expanded its gross margin by 1.5 percentage points compared to the second quarter of 2024, reflecting personnel adjustments and growth in medicine and digital courses.

Negative

The average ticket for digital courses dropped by 4.4% compared to the same period last year, due to a higher presence of students with lower tuition fees.
Adjusted EBITDA margin decreased to 27.9% from 28.6% in the previous year, mainly due to a 33.1% increase in PDA expenses.
Free cash flow to equity was negative at BRL 20.1 million in the second quarter, impacted by negative working capital variation.
The company faced a 21% decrease in net debt, which could indicate challenges in maintaining financial leverage.
Investments in the second quarter were 9.8% lower than the same period last year, potentially affecting future growth initiatives.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CSED3.SA - Cruzeiro do Sul Educacional SA
Q2 2025 Cruzeiro do Sul Educacional SA Earnings Call
Aug 15, 2025 / 05:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon and thank you for holding. Welcome to Crusadoduo Educational's conference call today discussing the earnings release of the 2nd quarter of 2025. If you need simultaneous translation, this tool is available on the platform. Simply click the interpretation button at the bottom of the screen and select the language you prefer Portuguese or English.

For those listening to the conference in English, there is also the option of muting original audio.

We informed that this conference is being recorded and will be available on the company's II website at RI.rusadodosuducacional.com.br where you will also find a complete set of materials for our earnings release. You can also download the

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