Afya Limited Announces Second-Quarter and First-Half 2024 Financial Results

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[{"type":"text","content":"\nSolid Organic Growth\n\n\nImpressive Adjusted EBITDA Margin Expansion\n\n\nRobust EPS Expansion\n\n\n NOVA LIMA, Brazil--(BUSINESS WIRE)--\nAfya Limited (Nasdaq: AFYA; B3: A2FY34) (“Afya” or the “Company”), the leading medical education group and medical practice solutions provider in Brazil, reported today financial and operating results for the three and six-month period, which ended on June 30, 2024 (second quarter 2024). Financial results are expressed in Brazilian Reais and are presented in accordance with International Financial Reporting Standards (IFRS).\n\n\nSecond Quarter 2024 Highlights\n\n\n\n2Q24 Net Revenue increased 13.7% YoY to R$809.9 million.\n\n\n\n\n2Q24 Adjusted EBITDA increased 28.2% YoY reaching R$343.8 million, with an Adjusted EBITDA Margin of 42.5%. Adjusted EBITDA Margin increased 490 bps YoY.\n\n\n\n2Q24 Net Income increased 85.3% YoY, reaching R$162.2 million, and Adjusted Net Income increased 59.5% YoY, reaching R$210.3 million. Adjusted EPS growth was 61.8% in the same period.\n\n\n\nFirst Half 2024 Highlights\n\n\n\n1H24 Net Revenue increased 13.5% YoY to R$1,614.1 million.\n\n\n\n1H24 Adjusted EBITDA increased 23.9% YoY reaching R$741.7 million, with an Adjusted EBITDA Margin of 45.9%. Adjusted EBITDA Margin increased 380 bps YoY.\n\n\n\n1H24 Net Income increased 80.5% YoY, reaching R$370.5 million, and Adjusted Net Income increased 54.7% YoY, reaching R$461.3 million. Adjusted EPS growth was 56.9% in the same period.\n\n\n\nOperating Cash Conversion ratio of 94.3%, with a solid cash position of R$ 723.4 million.\n\n\n\n~320 thousand users in Afya’s ecosystem.\n\n\n\n\nTable 1: Financial Highlights 1\n\n\n\nFor the three months period ended June 30,\n\nFor the six months period ended June 30,\n\n\n(in thousand of R$)\n\n2024\n\n\n\n\n\n\n2023\n\n\n\n\n\n\n% Chg\n\n\n\n\n\n\n\n2024\n\n\n\n\n\n\n2023\n\n\n\n\n\n\n% Chg\n\n\n\n\n\n\n\n(a) Net Revenue\n\n809,890\n\n\n\n\n\n\n712,607\n\n\n\n\n\n\n13.7%\n\n\n\n\n\n\n\n1,614,129\n\n\n\n\n\n\n1,422,568\n\n\n\n\n\n\n13.5%\n\n\n\n\n\n\n\n(b) Adjusted EBITDA 2\n\n343,827\n\n\n\n\n\n\n268,174\n\n\n\n\n\n\n28.2%\n\n\n\n\n\n\n\n741,679\n\n\n\n\n\n\n598,373\n\n\n\n\n\n\n23.9%\n\n\n\n\n\n\n\n(c) = (b)/(a) Adjusted EBITDA Margin\n\n42.5%\n\n\n\n\n\n\n37.6%\n\n\n\n\n\n490 bps\n\n\n45.9%\n\n\n\n\n\n\n42.1%\n\n\n\n\n\n380 bps\n\n\nNet income\n\n162,200\n\n\n\n\n\n...

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