Afya Limited Announces Fourth-Quarter and Full Year 2021 Financial Results

About this update from Afya Limited

[{"type":"text","content":"\nConsistent Growth\nSuccess in Digital Services\nESG Evolutions\n\n NOVA LIMA, Brazil--(BUSINESS WIRE)--\nAfya Limited (NASDAQ: AFYA) (“Afya” or the “Company”), the leading medical education group and digital health service provider in Brazil, reported today financial and operating results for the three and twelve-month period ended December 31, 2021 (fourth quarter 2021 and full year 2021, respectively). Financial results are expressed in Brazilian Reais and are presented in accordance with International Financial Reporting Standards (IFRS).\n\nFourth Quarter 2021 Highlights\n\n\n4Q21 Adjusted Net Revenue increased 45.3% YoY to R$505.4 million.\n\n\n4Q21 Adjusted EBITDA increased 25.9% YoY reaching R$195.1 million, with an Adjusted EBITDA Margin of 38.6%.\n\n\nFull Year 2021 Highlights\n\n\nFY21 Adjusted Net Revenue increased 45.1% YoY to R$1,752.7 million.\n\n\nFY21 Adjusted EBITDA increased 34.0% YoY reaching R$754.8 million, with an Adjusted EBITDA Margin of 43.1%.\n\n\nFY21 Adjusted Net Income increased to R$ 440.4 million in 2021 from R$ 437.5 million in 2020.\n\n\nCash conversion of 100.8%, with a cash position of R$ 748.6 million on December 31, 2021.\n\n\n248 thousand monthly active physicians and medical students using Afya’s Digital Services.\n\n\n\nTable 1: Financial Highlights\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFor the three months period ended December 31,\n\n\n\nFor the twelve months period ended December 31,\n\n\n(in thousand of R$)\n\n\n2021\n\n\n\n2021 Ex Acquisitions*\n\n\n2020\n\n\n\n% Chg\n\n% Chg Ex Acquisitions\n\n\n\n\n2021\n\n\n\n2021 Ex Acquisitions*\n\n\n2020\n\n\n\n% Chg\n\n% Chg Ex Acquisitions\n\n\n(a) Net Revenue\n\n\n498,259\n\n\n\n\n373,733\n\n\n\n\n345,266\n\n\n\n\n44.3%\n\n\n\n\n8.2%\n\n\n\n\n\n\n1,719,371\n\n\n\n\n1,302,252\n\n\n\n\n1,201,191\n\n\n\n\n43.1%\n\n\n\n\n8.4%\n\n\n\n\n(b) Adjusted Net Revenue (1)\n\n\n505,407\n\n\n\n\n378,633\n\n\n\n\n347,896\n\n\n\n\n45.3%\n\n\n\n\n8.8%\n\n\n\n\n\n\n1,752,728\n\n\n\n\n1,313,032\n\n\n\n\n1,207,735\n\n\n\n\n45.1%\n\n\n\n\n8.7%\n\n\n\n\n(c) Adjusted EBITDA (2)\n\n\n195,128\n\n\n\n\n150,893\n\n\n\n\n155,048\n\n\n\n\n25.9%\n\n\n\n\n-2.7%\n\n\n\n\n\n\n754,836\n\n\n\n\n557,838\n\n\n\n\n563,112\n\n\n\n\n34.0%\n\n\n\n\n-0.9%\n\n\n\n\n(d) = (c)/(b) Adjusted EBITDA Margin\n\n\n38.6%\n\n\n\n\n39.9%\n\n\n\n\n44.6%\n\n\n\n-600 bps\n\n-470 bps...

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