• Revenue surged 96%, with strong 2H24 performance
• NPAT turnaround of $5.6m, with 10% NPAT margin in 2H24
• Ikon enrolments up 113%, with international students now 74% of total

EDU Holdings Ltd reported a strong FY24 performance, with revenue surging 96% to $42.3m. The momentum accelerated in 2H24, with revenue of $25.4m, up 51% on 1H24 and 125% on the prior corresponding period. The company generated strong cashflow, with net cash up $4.2m after a $0.9m selective buyback and $0.5m debt repayment. EDU reported a NPAT turnaround of $5.6m, with FY24 NPAT of $2.6m compared to a $3.0m loss in the prior year. The 2H24 NPAT margin reached 10%. Ikon enrolments were a standout, up 113% with international students now accounting for 74% of the total. ALG enrolments also trended positively, with 7 consecutive terms of growth. The company expanded its course offerings, with the accreditation of 3 Masters courses and 1 Bachelor programme to be launched in 1H25. EDU also increased its campus capacity, with a material increase in Sydney and continued growth in Melbourne.

FY24 revenue of $42.3m, NPAT of $2.6m, and EBITDA of $7.9m. The company is well-positioned to continue its growth trajectory in FY25.

EDU Holdings is focused on further expanding its higher education offerings, with the launch of new postgraduate programmes in 1H25. The company is also well-positioned to navigate the tightening regulatory environment, with a high-quality provider status and courses aligned to long-term skills shortages.