Ser Educacional reverses loss with adjusted net income of R$7,455 million

A be educational ended the third quarter of 2021 with adjusted net income of BRL 7,455 million, reversing a loss of BRL 1.301 million calculated in the same period last year.

O Ebitda Adjusted (earnings before interest, taxes, depreciation and amortization) totaled 67.956 million between July and September, an increase of 24% compared to the same stage in 2020. Without adjustment, Ebitda was R$ 79.036 million, an increase of 47.7% compared to a year.

The company’s net revenue was R$324.083 million in the third quarter, an increase of 20.3% on the same basis of comparison.

The financial result was negative by BRL 37.373 million in the third quarter, compared to a negative result of BRL 32.768 million a year earlier.

In the quarter, the total enrollment of University education reached 53.1 thousand students, growth of 29.4% compared to a year ago. The enrollment of hybrid (on-site) graduations totaled 24.1 thousand students (+31.9%) and the digital 25.2 thousand (+32.1%).

The total student base reached 240 thousand, an increase of 31.9% compared to the same quarter of 2020, mainly due to the organic growth of the digital education student base, which reached 103,500 students, growing 102.7 % in the period, improvement in re-enrollment rates and acquisitions of Unifacimed, Unijuazeiro, Unesc, Unifasb and CDMV.

In its earnings release, the company highlights that the results mark the beginning of an important cycle of growth recovery for Ser Educacional, combining improvements in operating and financial performance.

These results were strengthened by a solid season of student enrollment and re-enrollment, both in the hybrid and digital education segments, with superior performance even in 2019 (pre-pandemic), and were also boosted by the recent acquisitions of Unifacimed, Unesc and Unifasb, 100% consolidated for the first time in this quarter’s results.