EstáCio Apr 2 Q07 Eng

327 views

Published on

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
327
On SlideShare
0
From Embeds
0
Number of Embeds
6
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

EstáCio Apr 2 Q07 Eng

  1. 1. 2Q07 Earnings Release
  2. 2. <ul><li>This presentation contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Estácio Participações. These are merely projections and, as such, are based exclusively on the expectations of Estácio Participações’ management concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in Estácio Participações’s filed disclosure documents and are, therefore, subject to change without prior notice. Since the Company was constituted only on March 31, 2007, we present, for the sole purpose of comparison, the non-audited pro-forma information for the first half of 2006 and the first quarter of 2007, as if the company's constitution had occurred on January 1, 2006. In addition, certain information was presented adjusted to reflect the payment of taxes at SESES, our largest subsidiary, which, starting in February 2007 and as a result of its transformation into a for-profit company, being subject to the tax laws applicable to other legal entities, notwithstanding the exemptions arising under the University for All Program (PROUNI). The information presented for comparison purposes should not be used as a base for the purpose of calculating dividends, taxes or any other corporate purpose. </li></ul>Disclaimer
  3. 3. <ul><li>The largest private post-secondary education institution in Brazil in terms of number of enrolled students </li></ul><ul><li>175 thousands students enrolled in 90 undergraduate programs </li></ul><ul><li>54 campuses : 38 in Rio de Janeiro and 16 campuses in another 10 estates </li></ul>Company <ul><li>Certified by MEC </li></ul><ul><li>Near its students: work or home </li></ul><ul><li>Suitable to all student profiles (region, programs & shift) </li></ul>Success Formula Quality Location Price
  4. 4. Financial Highlights Main Indicators (R$ million) 2Q07 2Q06 Chg. % 1H07 1H06 Chg. % 210.9 209.7 0.6% 430.3 420.3 2.4% 32.9% 31.8% 1.1 p.p. 38.3% 37.4% 0.9 p.p. 9.9 9.7 2.1% 51.1 44.2 15.6% Net Revenue Gross Margin EBITDA Adjusted EBITDA Net Income Adj. Net Income* (Debt) Net Cash 9.9 -7.3 n/a 45.2 7.9 472.2% 1.4 0.9 48.5% 27.3 23.7 15.2% 2.5 0.9 165.9% 28.4 23.7 19.8% 41.2 (18.1) n/a 41.2 (18.1) n/a *excluding IPO expenses
  5. 5. Revenue Net Revenue (R$ million) 0.6% Gross Revenue (R$ million) 4.1% Deductions (R$ million) 94.0 105.3 2Q06 2Q07 12.1% Students Enrolled 173,518 174,217 2Q06 2Q07 0.4% 88.2% 9.8% 1.5% 0.5% 82.3% 8.0% 0.6% 9.0% 2.4% Adjusted for taxes 4.1% 194.0 208.9 1H06 1H07 7.7% 88.0% 9.5% 1.5% 1.0% 83.0% 8.0% 0.8% 8.2% 303.7 316.2 614.3 639.3 2Q06 2Q07 1H06 1H07 Scholarships Taxes Charges Returned Discounts 209.7 210.9 420.3 430.4 2Q06 2Q07 1H06 1H07
  6. 6. Costs and Gross Profit - 1.1% 4.3% - 5.0% 31.2% Adjusted for taxes 143.2 141.5 263.0 265.4 2Q06 2Q07 1H06 1H07 66,6 69,4 157.3 164,9 2T06 2T07 1S06 1S07 0.9% 4.9% 52.9 69.4 128.5 154.2 2Q06 2Q07 1H06 1H07 20.0% 149.0 141.5 276.3 265.4 2Q06 2Q07 1H06 1H07 - 3.9% Costs of Services (R$ millions) Gross Profit (R$ millions)
  7. 7. Expenses 3.5% 66.4 65.1 2Q06 2Q07 1.9% Adjusted for taxes Restructuring on going -0.2% 62.9 65.1 127.0 126.7 2Q06 2Q07 1H06 1H07 General and Administrative Expenses (R$ millions) General and Administrative Expenses (R$ millions)
  8. 8. EBITDA and Net Income 9.7 9.9 2Q06 2Q07 2.1% 4.6% 4.7% 0.9 2.5* 2T06 2T07 0.5% 1.5% (7.3) 9.9 2T06 2T07 (3.6%) 4.7% 4.3* 2T07 0.6% Adjusted for PROUNI 166.0% * excluding IPO expenses (16.1) 2T06 7.7% EBITDA (R$ millions) Net Income (R$ millions) Adjusted for taxes 44.2 51.1 1H06 1H07 15.6% 11.9% 10.5% 7.9 45.2 1H06 1H07 2.0% 10.6% 23.7 28.4 1H06 1H07 5.6% 6.5% 20.1 1H07 4.7% 19.8% (12.6) 1H06 377.8% ( 3.1%) 472,2% Adjusted for taxes Adjusted for PROUNI * excluding IPO expenses
  9. 9. Debt and Capex Total Debt (R$ million) 31.2 2.0 2Q06 2Q07 -93.7% Short term Long Term 96.3% 3.7% 93.1% 6.9% Net Cash (R$ million) (18.1) 41..2 2Q06 2Q07 Capex (R$ million) 11.0 14.5 1H06 1H07 31.8% 2005 2004 2006 22.2 22.5 25.1
  10. 10. Final Remarks Following our strategy, we continued commited with Organic Growth and acquisitions Capture scale gains and synergies between operations Focus Growing Synergies Excellence Continuous improvement
  11. 11. Questions and Answers

×