EDU Holdings Limited (ASX:EDU) Announces FY24 Results
Financial Performance
EDU Holdings Limited reported FY24 revenue of $42.3 million, a 96% increase from the previous year. Net profit after tax (NPAT) reached $2.6 million, reversing a $3.0 million loss in the prior comparable period. EBITDA surged to $7.9 million, up from $0.5 million, with an EBITDA margin improvement to 19%.
Business Unit Performance
The company successfully integrated Ikon and ALG under a new org structure. Vocational enrolments in FY24 were up 31%, and higher education enrolments grew by 113%. Expanded course offerings included four new accredited courses, including three postgraduate programmes.
Priorities and Outlook
Current priorities include adapting to changing regulatory environment, strengthening student recruitment both domestically and offshore, expanding product offerings with new accredited courses, and enhancing operational efficiency through the integration of businesses.
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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