NextEd Group (NXD) AGM 2024 Presentation summary

Financial performance highlights

• Revenue reached $111.4 million, an increase of $9.1 million compared to FY23.

• Operating cash flows were $1.7 million, with a cash position of $19.3 million at June 2024.

• EBITDA (before impairment) was $15.0 million, up $1.7 million from FY23.

• Adjusted NPAT was $0.2 million, a decrease of $5.8 million versus FY23.

Student and segment performance

• Vocational course uptake showed solid growth, partially offsetting declines in English language studies.

• Technology & design vocational student numbers increased, but higher education margins were impacted by government actions.

• Domestic vocational student numbers remained stable compared to H2 FY24.

• Segment revenues are expected to decline in H1 FY25 versus the prior corresponding period.

Strategic positioning and strengths

• Maintains a strong reputation for high-quality education and a unique market proposition.

• Offers a diversified course range, including critical skills areas with strong workforce demand.

• Experienced educators and a proven ability to adapt to market and regulatory changes.