Embark Early Education Ltd Market Update
Key points
- Facility agreements with NAB renewed until 2028
- Fully franked interim dividend of AUD0.015 per share
- Occupancy at 80% with significant regional variations
- Net Promoter Score improved to 70
- Impairment totaling $15.265m
Full summary
Embark Early Education Ltd. has renewed three facility agreements with NAB, including a $25m acquisition facility currently drawn to $6.4m, with covenants well within limits. The company has negative net debt, with cash on hand exceeding drawn debt by $12.2m. The board resolved to pay a fully franked interim dividend of AUD0.015 per share for FY25/26. Spot occupancy is 80%, with 9 centres under-performing due to oversupply. New centres have increased local capacity by up to 44%. Family Net Promoter Score improved to 70, indicating high family satisfaction. Impairments totaled $15.265m, including $11.399m for the investment in Mayfield Childcare Limited.
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