• Nido delivered $19.5m NPAT and a maiden dividend of 5.8c (35% franked)
• Service EBITDA grew 218% to $32.4m, with an average EBITDA of $611k per Service
• Nido expects significant positive changes in the sector with potential policy shifts

Nido Education Limited (ASX: NDO) has announced its financial and operational results for the year ended 31 December 2024. The company delivered $19.5m NPAT and determined a maiden dividend of 5.8c (35% franked), providing shareholders a 7.4% yield on the current trading price. Nido generated $166.8m of revenue and $22m EBITDA (pre-AASB 16), with service-based EBITDA growing 218% to $32.4m. The company's service-based performance was strong, with an average EBITDA of $611k per Service and an average occupancy of 78%. While the first half of 2024 faced some workforce management challenges, Nido successfully navigated these through proactive labour cost management. Looking ahead, Nido is equipped with an experienced and agile team to adapt to the evolving market landscape. The company anticipates significant positive changes in the sector, with potential policy shifts that could alleviate cost-of-living pressures and create new growth opportunities.

Nido has achieved a 40% increase in service-based EBITDA for January 2025 compared to the previous year (30% organic and 10% acquisitions). However, February enrolments have been subdued, likely due to ongoing economic pressures. Nido is strategically prepared to respond to the anticipated rise in demand as the Australian Government's recent changes to the child care subsidy activity test take effect.