FY24 Financial and Statutory Report & Appendix 4E

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Stock G8 Education Ltd (GEM.ASX)
Release Time 25 Feb 2025, 8:08 a.m.
Price Sensitive Yes
 G8 Education Reports FY24 Financial and Statutory Results
Key Points
  • Solid performance in 2024 with focus on operational execution
  • Improved team attraction, retention and engagement
  • Delivered 70.7% group occupancy despite challenging environment
  • 93% of centres 'Meeting' or 'Exceeding' National Quality Standards
Full Summary

In 2024, G8 Education achieved a solid performance, aligning its operations, activities and strategic focus with the first horizon of its strategic plan to create a 'fit core'. The company's commitment to providing a fun, inspiring environment where all children learn, grow and thrive remained at the heart of everything it did. G8 Education made substantial strides in strengthening and supporting its team, with employee engagement improving year-on-year and team member retention increasing. The company also secured a sector-wide Multi-Employer Agreement, securing a 10% pay rise in December 2024 for centre-based team members. Despite a challenging environment, G8 Education delivered a modest growth year-on-year, recording 70.7% group occupancy. The company remained dedicated to the enhancement of its Preschool and Kindergarten programs, and 93% of its centres were 'Meeting' or 'Exceeding' the National Quality Standards as of 31 December 2024.

Guidance

G8 Education reported a 3.5% increase in revenue from ordinary activities to $1,021,777,000 and a 20.8% increase in profit from ordinary activities after tax attributable to members to $67,688,000 for the year ended 31 December 2024.

Outlook

G8 Education remains focused on delivering high-quality education and care for its children, and continues to advocate for improved long-term reforms in the early childhood education and care sector in Australia.