• Revenue of $882.2 million, down 14% due to lower student and test taker volumes
• Adjusted EBIT of $119.0 million, down 48%
• Commenced multi-year transformation program to improve efficiency and drive future growth
• Expects FY26 Adjusted EBIT of $115 million - $125 million

IDP Education Limited (IDP) announced its results for the 2025 financial year (FY25), which were impacted by concurrent policy restrictions across its key destination markets disrupting over two decades of sustained growth in globally mobile students. Revenue declined 14% to $882.2 million, with Student Placement volumes down 29% and Language Testing volumes down 18%. Despite disciplined cost control, Adjusted EBIT declined 48% to $119.0 million. IDP has commenced a multi-year transformation program to become a more efficient, technology-enabled business positioned to capture profitable growth. Phase one of the transformation will strengthen and simplify the business, delivering a $25 million net reduction in the cost base in FY26, with one-off restructuring costs of $35 million - $45 million. In FY26, IDP expects to focus on managing financial performance and delivering its transformation priorities, with Adjusted EBIT expected to be in the range of $115 million - $125 million. This reflects continued challenging industry conditions, with market volumes expected to be down 20% - 30% versus FY25, partially offset by a focus on profitable growth and average yield improvements. The transformation program is expected to drive immediate operating and financial improvements in FY26 and deliver investment returns over the medium term.

IDP expects FY26 Adjusted EBIT of $115 million - $125 million, based on continued challenging industry conditions with market volumes expected to be down 20% - 30% versus FY25, partially offset by a focus on profitable growth and average yield improvements.

IDP's transformation program is designed to build a stronger, more resilient and more profitable business for the future. The program will drive immediate operating and financial improvements in FY26 and deliver investment returns over the medium term, as the company leverages its market-leading position, clear strategy, expert team and transformation initiatives to capture profitable growth.