EDU (EDU) AGM 2025 Presentation summary

FY24 performance highlights

• Revenue increased 96% to $42.3m, with net profit after tax of $2.6m, reversing a prior year loss.

• Cash position improved to $6.5m after selective buy-back and debt repayment.

• Higher education enrolments rose 113%, while vocational enrolments recovered, up 31% year-on-year.

• Operational efficiency gains achieved through integration and shared services.

• Expanded course offerings, including entry into the postgraduate market.

Regulatory environment

• Australia tightened international student visa policies, increasing eligibility and financial requirements.

• New Genuine Student Test and higher English proficiency standards introduced.

• Offshore visa processing capped, with indicative 2025 caps for providers.

• Onshore international student pool expected to decline, impacting future enrolments.

• VET sector visa approval rates and grants have materially decreased.

FY25 trading update

• Q1 FY25 revenue reached $18.0m, up from $7.8m in Q1 FY24.

• Net profit after tax for Q1 FY25 was $2.9m, with cash increasing to $14.3m.

• Higher education enrolments in T1'25 up 151% year-on-year, with three new courses launched.

• VET sector facing challenges: 1H25 new student enrolments down 28%, visa approval rates at a 10-year low.