Q2 2026 YDUQS Participacoes SA Earnings Call Transcript
Key Points
- IDOMED delivered a record intake of over 2,000 students, with EBITDA growth of 70% since 2024 and a high renewal rate of 97%, reinforcing its premium brand leadership.
- IBMEC showed strong performance with revenue growth of 80% and EBITDA growth of 24%, and plans to open a new unit in Fortaleza, expanding into the Northeast.
- The company achieved a 4% revenue growth and 7% EBITDA growth on a comparable basis, with a 1.5 percentage point reduction in bad debt, demonstrating operational resilience.
- Strong cash generation and capital allocation, including a share buyback program of R$100 million and dividends, while reducing leverage to 1.55x net debt/EBITDA.
- The semi-on-campus segment is booming, with higher tickets and renewal rates, and the company is well-positioned to benefit from the new legal framework, with a positive outlook for 2027.
- The digital segment continues to suffer from regulatory restrictions and competitive pressure, leading to a decline in demand and a need for ticket stability.
- The World Cup and election year negatively impacted intake, especially in the second quarter, with a hangover effect expected to persist into the third quarter.
- Semi-on-campus ticket dynamics remain challenging, with a more competitive environment and a gradual recovery expected only in 2027.
- The company faced a negative impact from higher transfer volumes to hubs and increased faculty costs, leading to a 0.9 percentage point increase in costs.
- Contingency provisions and financial results were negatively affected by a higher Selic rate, with a R$14 million impact, though this is expected to reverse in the second half.
Welcome to the EDUX video conference to discuss the results for the second quarter of 2026. This video conference is being recorded and the replay can be accessed on the company's website, www.educs.com.br.
The presentation is available for download also on the company's website.
All participants will be watching the video conference only during the presentation, and then we will start the Q&A session when further instructions will be provided. Before proceeding, we would like to clarify that any statements that may be made during this conference call regarding the company's business prospects, projections, and operational and financial goals, our beliefs and assumptions are reduced. Senior management based on the current information available to the company. Those statements may involve risks and uncertainties, since they relate to future events and therefore depend on circumstances that may or may not occur. Investors, analysts and journalists should take into account that events related to macroeconomic environment,
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