Full Year 2023 Stadio Holdings Ltd Earnings Call Transcript
Key Points
- Student numbers increased by 9% in the first semester and 10% in the second semester of 2023.
- Revenue grew by 16% to ZAR1.4 billion.
- Profit after tax rose by 27%, and earnings per share increased by 26%.
- Core headline earnings went up by 19% to ZAR209 million.
- Return on equity improved by 18% to 11.7%.
- EBITDA margin decreased from 29% to 28%, primarily due to an increase in loss allowance.
- Loss allowance increased by 58%, reflecting the economic pressure on students.
- Employee costs rose by 14% to ZAR586 million, and other operating expenses increased by 19%.
- Integration challenges with the new ERP system affected operational efficiency.
- The competitive environment remains challenging, impacting market share growth.
(video playing)
Good morning, ladies and gentlemen, and welcome to STADIO Holdings' 2023 financial results presentation. With me this morning to do our presentation is our new group CFO, Mr. Ishak Kula.
I will start off with the presentation, doing a quick reflection on the 2023 academic year and also share the financial highlights. I will then hand over to Ishak. Ishak will then unpack the financial information in more detail. And thereafter, Ishak will hand back to me, I will briefly have a look at our growth strategy and how we are tracking in that regard and then also share some exciting information on our focus for 2024.
And then at the end, we will open for a question-and-answer session. So welcome to our presentation.
Just to quickly recap, STADIO Holdings. Our purpose is to empower the notion by widening access to quality higher education. We do this through our three distinct private higher education institutions being in the middle, STADIO Higher Education, our comprehensive
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