Edu Holdings Limited · ASX:EDU
Edu — Shareholder Meeting (May 2025)
24 slides from Edu's shareholder meeting presentation, May 14, 2025
Slide 1: AGM Address and Presentation
Education With Purpose ASX Market Release 14 May 2025 AGM Address and Presentation In accordance with Listing Rule 3.13.3, EDU Holdings Limited (EDU) provides the following documents to be presented at its Annual General Meeting for the year ended 31 December 2024, to be held at 10.00am (Sydney time
Slide 2: Chair's Address to FY24 AGM
Education With Purpose Chair’s Address to FY24 AGM Good morning, ladies and gentlemen, My name is Gary Burg, and I am the Chair of EDU Holdings Limited. Thank you for joining us this morning. FY24 was a landmark year for the Company, marked by significant achievements across financial, operational,
Slide 3: Chair's Address (continued): Delisting Proposal
Education With Purpose Yesterday, the Board announced a proposal to delist the Company from the ASX. Over time, low trading liquidity has made it difficult for investors to enter or exit the stock, which has been exacerbated by increased volatility. The ongoing regulatory uncertainty regarding the i
Slide 4: FY24 AGM
FY24 AGM 1Q25 TRADING UPDATE DELISTING PROPOSAL 1
Slide 5: Contents
CONTENTS 01 02 03 FY24 RECAP REGULATORY TRADING ENVIRONMENT UPDATE PG 3 PG 5 PG 7 04 05 OUTLOOK AND DELISTING GUIDANCE PROPOSAL PG 11 PG 13 1H24 RESULTS PRESENTATI ON 2
Slide 6: Snapshot
Snapshot COMPANY OVERVIEW INVESTMENT PROPOSITION 2 nationally accredited tertiary education providers 1 2 Quality tertiary In-demand course mix, education group aligned to long-term Higher Education (HE) Vocational Education skills shortages & Training (VET) A leading provider of higher and vocation
Slide 7: FY24 Highlights
FY24 Highlights Revenue surged NPAT turnaround Strong cashflow Selective buy-back 96% of $5.6m generated completed Momentum FY24 NPAT of $2.6m, Net cash up $4.2m 9% of shares purchased accelerated - 2H24 vs $3.0m loss in PCP on PCP to $6.5m, at 6c per share and revenue of $25.4m, 2H24 NPAT of $2.6m,
Slide 8: Regulatory Environment
02 REGULATORY ENVIRONMENT F Y2 4 AG M P R E S E N TATI O N 5
Slide 9: Tightening regulatory environment
Tightening regulatory environment Australia has implemented significant reforms to its international student visa policies aimed at enhancing integrity and managing net migration. Measures include stricter eligibility criteria, increased financial requirements, and adjustments to visa processing. Th
Slide 10: Trading Update
03 TRADING UPDATE F Y2 4 AG M P R E S E N TATI O N 7
Slide 11: Strong start to FY25
Strong start to FY25 PROFIT & LOSS CASH & DEBT 1Q25 1Q24 31 Mar-25 vs 31 Mar-24 vs (unaudited) (unaudited) (unaudited) (unaudited) Revenue $18.0m $7.8m Cash $14.3m $4.6m EBITDA1 $5.4m $0.8m Debt $1.4m $1.8m Contract Net profit / (loss) after tax $2.9m ($0.3m) liabilities $8.9m $4.4m 1 EBITDA is a fi
Slide 12: HE (Ikon) momentum continuing
HE (Ikon) momentum continuing Enrolments Enrolments NSEs NSEs 3,500 1,000 930 889 900 3,000 800 2,500 700 600 2,000 533 448 500 3,232 1,500 400 2,492 1,000 300 201 199 155 1,709 Estimated 132 155 200 1,287 500 106 955 768 848 645 100 550 594 - - T1'22 T2'22 T3'22 T1'23 T2'23 T3'23 T1'24 T2'24 T3'24
Slide 13: VET (ALG) sector challenging
VET (ALG) sector challenging Enrolments NSEs Enrolments NSEs 1,800 350 1,600 286 300 292 1,400 270 252 249 250 1,200 234 219 217 1,000 200 172 148 1,655 800 1,608 150 1,446 1,596 1,230 1,281 600 1,145 1,007 1,023 1,061 100 400 50 200 Estimated - - T1'23 T2'23 T3'23 T4'23 T1'24 T2'24 T3'24 T4'24 T1'2
Slide 14: FY25 Outlook and Guidance
04 FY25 OUTLOOK AND GUIDANCE F Y2 4 AG M P R E S E N TATI O N 11
Slide 15: FY25 outlook and guidance
FY25 outlook and guidance Revenue, EBITDA and NPAT expected to be Revenue and earnings expected to be Revenue and earnings expected to be up materially up on FY24 materially up on FY24 on FY24 Costs to increase throughout the year to Total enrolments continuing to build with NSEs declining year-on-y
Slide 16: Delisting Proposal
05 DELISTING PROPOSAL F Y2 4 AG M P R E S E N TATI O N 13
Slide 17: Proposal to voluntarily delist
Proposal to voluntarily delist Subject to ASX and shareholder approval Formal application General meeting of Equal access buy- Funded by debt to delist lodged with shareholders back of up to 75m and cash reserves ASX on 14 May scheduled for 23 shares at $0.165 per Maximum buy-back In-principle advic
Slide 18: Rationale for delisting
Rationale for delisting Benefits of delisting outweigh benefits of remaining listed Sustained low levels of trading; limited opportunities for shareholders to exit or enter Illiquidity Low volume can impact price leading to increased volatility Limited spread of shareholders, < 300 marketable parcel
Slide 19: Strategy post delisting
Strategy post delisting Focus on growth and maximising shareholder value Organic growth M&A opportunities Exit strategy • Expand course offering within • Immediately or imminently • Highly aligned Board and existing verticals (with earnings accretive management team, increased focus on domestic comm
Slide 20: Equal access buy-back
Equal access buy-back Exit opportunity for shareholders at premium to market price Buy-back of up to 75m Buy-back price of $0.165 Funded through shares per share extension of CBA debt facility and surplus cash Representing 50% of issued Representing a 26.9% capital, to be cancelled premium to the cl
Slide 21: Capital structure and funding
Capital structure and funding Delisting supported by Board - 46.2% of issued capital ISSUED CAPITAL PRE AND POST BUY-BACK RELEVANT INTERESTS OF DIRECTORS Number Director Total shares Intention to retain1 Ordinary issued shares pre buy-back and delisting 150,553,408 Gary Burg2 28,820,473 3,585,291 Ma
Slide 22: Indicative Timetable
Indicative Timetable All dates subject to change by the Company or ASX KEY DATES Event Indicative date Despatch of Notice of General Meeting Friday, 23 May 2025 General Meeting to consider Delisting and Buy-back Monday, 23 June 2025 Ex date for Buy-back Thursday, 26 June 2025 Record date for Buy-bac
Slide 23: Disclaimer
Disclaimer This presentation, dated 14 May 2025 contains unaudited data and Certain statements in this presentation constitute ‘forward-looking results and is provided for information purposes only. The information statements’ or statements about ‘future matters’. Such statements in this presentatio
Slide 24: Contact
CONTACT Adam Davis, CEO Lyndon Catzel, CFO E adam.davis@eduholdings.com.au E lyndon.catzel@eduholdings.com.au P 1300 254 000 P 1300 254 000 M +61 408 400 888 M +61 414 907 384 1H24 RESULTS PRESENTATI ON 21