Afya Limited Announces Third-Quarter and Nine Months 2021 Financial Results

About this update from Afya Limited

[{"type":"text","content":"\nStrong growth\nRecord-High Cash Flow Generation\nExpansion on Digital Services\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 nine-months period ended September 30, 2021 (third quarter 2021). Financial results are expressed in Brazilian Reais and are presented in accordance with International Financial Reporting Standards (IFRS).\n\nThird Quarter 2021 Highlights\n\n\n3Q21 Adjusted Net Revenue increased 47.9% YoY to R$463.3 million.\n\n\n3Q21 Adjusted EBITDA increased 28.2% YoY reaching R$191.4 million, with an Adjusted EBITDA Margin of 41.3%.\n\n\nNine Months 2021 Highlights\n\n\n9M21 Adjusted Net Revenue increased 45.1% YoY to R$1,247.3 billion.\n\n\n9M21 Adjusted EBITDA increased 37.2% YoY reaching R$559.7 million, with an Adjusted EBITDA Margin of 44.9%.\n\n\nCash conversion of 113.5%, with a solid cash position of R$ 1,038.9 billion.\n\n\n247 thousand physicians and medical students in Afya’s ecosystem.\n\n\n\nTable 1: Financial Highlights\n\n\n\n\nFor the three months period ended September 30,\n\n\n\nFor the nine months period ended September 30,\n\n\n(in thousand of R$)\n\n\n2021\n\n\n\n\n2021 Ex\nAcquisitions*\n\n\n\n\n2020\n\n\n\n\n% Chg\n\n\n\n\n% Chg Ex\nAcquisitions\n\n\n\n\n \n\n\n\n\n2021\n\n\n\n\n2021 Ex\nAcquisitions*\n\n\n\n\n2020\n\n\n\n\n% Chg\n\n\n\n\n% Chg Ex\nAcquisitions\n\n\n\n\n(a) Net Revenue\n\n\n454,387\n\n\n\n\n321,886\n\n\n\n\n309,410\n\n\n\n\n46.9%\n\n\n\n\n4.0%\n\n\n\n\n\n\n1,221,112\n\n\n\n\n908,861\n\n\n\n\n855,925\n\n\n\n\n42.7%\n\n\n\n\n6.2%\n\n\n\n\n(b) Adjusted Net Revenue (1)\n\n\n463,278\n\n\n\n\n323,978\n\n\n\n\n313,324\n\n\n\n\n47.9%\n\n\n\n\n3.4%\n\n\n\n\n\n\n1,247,321\n\n\n\n\n914,242\n\n\n\n\n859,839\n\n\n\n\n45.1%\n\n\n\n\n6.3%\n\n\n\n\n(c) Adjusted EBITDA (2)\n\n\n191,400\n\n\n\n\n127,268\n\n\n\n\n149,269\n\n\n\n\n28.2%\n\n\n\n\n-14.7%\n\n\n\n\n\n\n559,709\n\n\n\n\n406,600\n\n\n\n\n408,065\n\n\n\n\n37.2%\n\n\n\n\n-0.4%\n\n\n\n\n(d) = (c)/(b) Adjusted EBITDA Margin\n\n\n41.3%\n\n\n\n\n39.3%\n\n\n\n\n47.6%\n\n\n\n-630 bps\n\n-830 bps\n\n\n\n\n44.9%\n\n\n\n\n44.5%\n\n\n\n\n47.5%\n\n\n\n-260 bps\n\n-300 bps\n\n\n(e) Adjusted Net Income\n\n\n116,875\n\n\n\n\n63,752\n\n\n\n\n115,503\n\n\n\n\n...

More updates from Afya Limited