• Revenue and EBITDA up significantly, driven by Ikon's performance
• Expanded higher education course portfolio with postgraduate offerings
• Robust cash generation enables debt repayment, buybacks and dividends
• Navigating regulatory changes in international education

EDU Holdings Ltd (EDU) reported a transformational year in FY25, delivering exceptional financial results driven by sustained enrolment growth and disciplined cost management. Revenue and other income increased 95% to $82.4m, EBITDA rose to $26.1m (up from $7.9m in FY24), and net profit after tax was $14.8m (compared to $2.6m in the prior year). This performance reflects the scalability of EDU's operating model, supported by strong revenue growth across its higher education (HE) and vocational education and training (VET) businesses. Ikon continued to lead the Group's performance, achieving record enrolments of 4,537 students in Trimester 3, 2025, up 82% on the prior year. FY25 also marked Ikon's strategic entry into the postgraduate market, with the launch of three new master level courses and one undergraduate degree. ALG delivered an improved financial outcome despite lower new student enrolments, highlighting the value it brings to the Group's portfolio. The regulatory environment for international education continues to evolve, with the Australian Government introducing further measures aimed at strengthening integrity across the sector. EDU has been implementing mitigation strategies, including building direct recruitment capability, developing alternative agent engagement models, and increasing focus on its domestic and offshore recruitment channels. The Group's strengthened balance sheet, with net cash of $18.5m, enabled the full repayment of debt, $3.6m of share buybacks, and a maiden $1.5m dividend payment, while maintaining flexibility to continue investing in the business.

EDU expects to deliver continued organic revenue growth and operating leverage in FY26, supported by its expanding higher education course portfolio and diversified recruitment channels.

The Group remains confident in its long-term positioning as a quality provider operating in high-growth sectors aligned to Australia's skills priorities. EDU is well-positioned to navigate the evolving regulatory environment and continue delivering strong student outcomes and shareholder returns.