MegaStudyEdu (215200) Q3 2025 earnings summary

Executive summary

• Delivered consolidated revenue of KRW 688.4 billion for the first nine months of 2025, with net income attributable to owners at KRW 82.8 billion and operating income at KRW 112.0 billion, reflecting a robust performance across core education segments.

• Maintained a strong balance sheet with total assets of KRW 865.5 billion and equity of KRW 516.8 billion as of September 30, 2025.

• Completed several strategic M&A and business restructuring activities, including the sale of the public official business and acquisition of the Unistudy business.

Financial highlights

• Revenue for 2025 3Q YTD: KRW 688.4 billion, down from KRW 719.8 billion in the prior year period.

• Operating income: KRW 112.0 billion (down from KRW 123.6 billion YoY); net income attributable to owners: KRW 82.8 billion (up from KRW 46.2 billion YoY due to lower tax expense and non-controlling interest changes).

• Basic EPS: KRW 7,789 for 2025 3Q YTD.

• Cash and cash equivalents: KRW 31.9 billion as of September 30, 2025.

• Dividend payout ratio targeted at 60% of separate net income over 2024–2026, with ongoing share buybacks and cancellations.

Outlook and guidance

• Management continues to focus on core education segments, digital transformation, and operational efficiency.

• Ongoing restructuring and portfolio optimization expected to support long-term growth and profitability.