Welcome!

News Feed Item

22% organic growth in the student base, EBITDA of R$235.5 million, an increase of 53.3%, EBITDA margin of 18.0% for a gain of 3.0 p.p. are the highlights of the Estacio balance sheet for the first six months of 2014

RIO DE JANEIRO, Aug. 8, 2014 /PRNewswire/ -- Estacio Participacoes S.A. – "Estacio" or the "Company" (BM&FBovespa: ESTC3; Bloomberg: ESTC3.BZ; Reuters: ESTC3.SA; OTC: ECPCY), one of the largest private organizations of higher education in Brazil in the number of matriculated students, is reporting its results for the second quarter of 2014 (2Q14) in comparison with the same period of the previous year (2Q13).

Estacio closed 2Q14 with a total base of 383,000 undergraduate and graduate students, 22.2% above the number recorded in 2Q13, of whom 303,600 are matriculated in on-site courses and 79,400 in distance learning courses.  Setting aside acquisitions, the student base grew by 21.9% organically in relation to the same period of the previous year.

It is important to underscore the growth of the graduate student body, which closed 2Q14 with 35,500 students (in both on-site and Distance Learning), a growth of 72.3% in relation to 2Q13. Such growth is the result of management initiatives and restructuring coordinated by the Directorate of Continuing Education.

The student base at Estacio that uses FIES remained at 110,400 students, which represents 39.3% of the total student base of on-site undergraduate students.

Net operating revenues came to R$1,127.3 billion in the first six months of 2014, an increase of 31.6% in relation to the first six months of 2013, and R$589.1 million in 2Q14, an increase of 32.8% in relation to 2Q13, due to growth of 22.2% in the student base, and the positive evolution of the average on-site ticket during the period.

For the first half of the year, EBITDA totaled R$235.5 million, 53.3% above that presented in the same period of 2013, with a margin of 20.9%, representing a margin gain of 3.0 p.p. over the year before due to better management of costs and expenses and to growth of more than 31% in net revenues.  Whereas for the quarter, EBITDA totaled R$106.0 million, 59.2% higher than 2Q13, with an EBITDA margin of 18.0%, a margin gain of 3.0 p.p. over the previous year.

The provision for doubtful debtors accounted for 6.1% of net revenues for this year, a decline of 0.4 percentage points in relation to the same quarter last year, reflecting a situation of lower payment delinquency in 2013, as well as an increase in the number of students using Student Financing (FIES - Financiamento Estudantil).

Net profits for Estacio in the first six months of 2014 came to R$ 211.7 million, an increase of 86.8% over the first six months of 2013, due to the increase in net revenues and efficiency gains in the cost and expense lines, which led to a 53.3% growth in EBITDA. Whereas for the quarter, net profits were R$86.0 million, an increase of 84.2% over the second quarter of 2013.

Operating cash flow in was positive at R$79.0 million in 2Q14, representing an evolution of R$40.2 million in relation to 2Q13, even taking into account the new timetable for the receipt of FIES repurchase certificates.  Investments for the quarter totaled R$31.6 million, representing 5.4% of net revenues, whereas in 2Q13 investments accounted for 12.8%. Of this amount, R$3.3 million was assigned to the expansion of new units and the construction of class rooms, while the rest was basically assigned to renovation and improvement of existing units, IT projects and the consolidation of the new Model of Instruction.

At the close of 2Q14, cash and cash equivalents totaled R$787.4 million. Bank indebtedness of R$269.0 million reflects the 1st emission of Company debentures and financing lines with the IFC, as well as commitments to pay for acquisitions made in recent cycles and the balance payable on tax installments constitute gross debt, which totaled R$312.8 million at the end of the quarter. Net cash closed 2Q14 at R$474.6 million.

Contacts

Investor Relations
Flavia de Oliveira
Phone: (21) 3311-9700
E-mail: [email protected]

Website: www.estacioparticipacoes.com.br

Press Office
Cintia Marin
Phone: (21) 3311 -9880
E-mail: [email protected]

SOURCE Estácio Participações S.A.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
SYS-CON Events announced today that SkyScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SkyScale is a world-class provider of cloud-based, ultra-fast multi-GPU hardware platforms for lease to customers desiring the fastest performance available as a service anywhere in the world. SkyScale builds, configures, and manages dedicated systems strategically located in maximum-security...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, will provide a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence a...