A Anima Education (ANIM3) presented, in the fourth quarter of 2022, a net profit of BRL 169.4 million, reversing the loss of BRL 152.8 million of the last quarter of 2021.
Adjusted net income, in turn, was R$ 210.7 million, against a loss of R$ 92.3 on the same basis of comparison.
Ebitda amounts to R$ 123.1 million, a decrease of 12.4% compared to the same period of the previous year, with an Ebitda margin of 14.6%, -2.0pp on the same comparative basis. Adjusted Ebitda came in at R$178.7 million, 12.3% higher than in the fourth quarter of 2021, with an adjusted Ebitda margin of 21.1%, +2.4pp over the same period.
The company’s net revenue was R$ 845.1 million, 0.4% lower in the annual comparison.
Operating cash generation in the fourth quarter ended at BRL 176.7 million, up 3.9% year on year, while free cash generation ex-divestments totaled BRL 24.2 million, against BRL 46.6 million in the last quarter of the previous year.
In 2022, the total student base, which according to the results report comprises academic education plus “Lifelong Learning” (lato sensu postgraduate and other extension courses), grew by 0.9% in the year, to 395,344 students. Dropout from on-site graduation fell by 2.4pp to -3.5%.
In a comment on the balance sheet, the management of Cheer up states that for 2023 he has a very constructive vision, albeit with cautious caution. “O Brazil lives a moment of relevant uncertainties in the macroeconomic scenario and also in the education sector – from a potential design of a new Fies to the regulatory environment for medical schools. However, we are cautiously constructive due to the technical quality of the new MEC team, which allows us to expect improvements in the future”, he says.
The company also argues that the macro is an exogenous factor, and that it remains focused “from the door in”. “We have been explicit in saying that there is (obviously) nothing we can do about the macro environment – and so our (doubled) responsibility is to focus on very disciplined management to improve profitability and cash generation. We commented that 2022 was a year of hard work on less glamorous fronts, without large M&A transactions – but focusing on improving management. The three main fronts for potential improvement were (and still are in 2023) rent, general and administrative expenses and financing costs”, points out the company.
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Source: Moneytimes
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