Embark Early Education Limited · ASX:EVO
Embark Early Education — H1 2023 Earnings Presentation
7 slides from Embark Early Education's earnings presentation, Aug 31, 2023
Slide 1: 2023 Interim Results Investor Presentation
2023 Interim Results Investor Presentation
Slide 2: Disclaimer
Disclaimer The information in this presentation is an overview and does not contain all information necessary to make an investment decision. It is intended to constitute a summary of certain information relating to the performance of Embark Early Education Limited (“Embark Education”) for the curre
Slide 3: 1H23 Overview
1H23 Overview* *Information on this page relates to Australian operations and figures are pre AASB16 • Strong start to the year driven by a 5.42% increase in 1H occupancy vs PCP • Revenue growth of 21.2% vs PCP to $29.2 million • Underlying centre EBITDA growth of 38% vs PCP to $6.76 million (from 2
Slide 4: Statutory Consolidated Accounts
Statutory Consolidated Accounts AUDITED RESTATED (Australia and NZ) 6 MONTHS 6 MONTHS 30 JUNE 2023 30 JUNE 2022 AUD Note $'000 $'000 Australian Operations Only From continuing operations Childcare fees 3 9,608 7,952 Government funding 3 19,501 16,181 • 21% revenue increase vs PCP driven by higher Ot
Slide 5: Balance Sheet
Balance Sheet Statutory Consolidated Accounts (Australia and NZ) AS AT 30 JUNE 2023 RESTATED AS AT 31 DECEMBER RESTATED AS AT 1 JANUARY 2022 2022 AUD Note $'000 $'000 $'000 Cash and cash equivalents 24,290 16,201 44,824 Assets held for sale - - 2,804 Funding receivable - 614 - Current tax asset - 19
Slide 6: Operating Performance
Monthly Occupancy Operating Performance 85% Australian Operations Only 80% 2023 • 1H2023 average occupancy was 80%, up 75% 2022 5.42% vs PCP 70% 65% January February March April May June Wage to Revenue Ratio • 1H2023 average Wages to Revenue was 65.0% 55.1%, compared to 56.7% PCP 60.0% 2023 2022 55
Slide 7: Strategy and Outlook
Strategy and Outlook Australian Operations Only • Strong start to occupancy in 1H2023 continuing with ‘spot’ occupancy1 at 85.8% • New Government CCS implemented 10 July 2023 creating greater affordability for families • Growing female labour force participation up to 62.5% in 2023 • 0-5 year age gr
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