Slide 1: Results Presentation
Results Presentation
Slide 2: Results Presentation for the year ended 31 December 2024
Introducing our new CFO ACvieCH Results Presentation for the year ended 31 December 2024
Slide 3: High Level Financial Performance
High Level Financial Performance 8% 16% Revenue Headline R8 521 million Earnings Per Share 202.2 cents (2023: R7 860 million) (2023: 174.2 cents) 14% 16% Operating Profit Normalised R1 791 million Earnings Per Share 202.5 (2023: R1 577 million) (2023: 174.2 cents) 21.0% Operating Margin (2023: 20.1%
Slide 4: Divisional Performance
Divisional Performance ACvweCH Year-on-year Comparison GROUP Schools South Africa Tertiary Revenue R3 120 million A11% Revenue R3 401 million A 14% Operating profit R640 million A12% Operating profit R903 million A 15% Schools rest of Africa Resourcing Revenue R449 million A18% Revenue R1 551 millio
Slide 5: ADvTECH Brand Portfolio
ADvTECH Brand Portfolio ACvieCH africaHRsolutions THE INDEPENDENT Bates ITf CA GL&*BAL oerreonvcts TRINITYHOUSE | Sewetssnun wmOCga TVvarsity ‘ () on >. fmCollege ( ‘ ) Ly q Makini S| School ZHSM NETWORK Hewes Yeris sorts Piss) - : me =a MISA A ¢ Communicate Recruitment abbotts @ Capsicum Oxbridge l
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Slide 7: Enrolment Growth - Breakdown
Enrolment Growth - Breakdown ACvweCH Total Group Schools Division 2021 2022 2023 2024 2025 OLZSOL 87Z £6 0SS6L lre rs Le9 88 Tertiary Division Results Presentation for the year ended 31 December 2024
Slide 8: Schools Enrolment Breakdown
Schools Enrolment Breakdown ACvieCH GROUP Schools Schools South Africa > 2021 2022 2023 2024 2025 Schools Rest of Africa Schools Rest of Africa (excl. Flipper) ee if CO 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 @ acer Results Presentation for the year ended 31 Decemb
Slide 9: Tertiary Enrolment Breakdown
Tertiary Enrolment Breakdown Tertiary Division £9009 een Hid Contact 2021 2022 2023 2024 2025 Distance ‘Annual Integrated Report for the year ended 31 December 2024
Slide 10: Impact of Flipper Acquisition on Total Group Enrolments
Impact of Flipper Acquisition on Total Group Enrolments ADvieCH 105710 Flipper: +3% sepEeyes Organic: +10% Results Presentation for the year ended 31 December 2024
Slide 11: Financial Performance
Financial Performance The group's strong financial performance, solid cash generation and robust balance sheet are evidence of our sound business model, clear market focus and continued emphasis on efficiencies
Slide 12: Group Revenue and Operating Profit (R'm)
Group Revenue and Operating Profit (R’m) ACvieCH Group Revenue (R'm) Group Operating Profit (R'm) Results Presentation for the year ended 31 December 2024,
Slide 13: Group Operating Margin (%)
Group Operating Margin (%) ACvieCH Drivers: Operating leverage from enrolment growth 20.1 + Continued focus on efficiencies 19.1 18.7 + Favourable mix shift between high margin education and lower margin resourcing businesses 16.5 + Further investment into systems and preparation for University stat
Slide 14: Divisional Operating Margins (%)
Divisional Operating Margins (%) Education Business Resourcing Division 23.8 22.4 21.8 19.4 0.3 " ; ; : a 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Results Presentation for the year ended 31 December 2024
Slide 15: Education Margins (%)
Education Margins (%) ACviECH Education Business Schools Division Schools South Africa 23.8 218 22.4 19.4 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Tertiary Division Schools rest of Africa (4.8) 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Results Presentation f
Slide 16: Normalised Earnings Per Share (ZA Cents)
Normalised Earnings Per Share (ZA Cents) ACvieECH Results Presentation for the year ended 31 December 2024
Slide 17: Normalised Earnings Per Share (US$)
Normalised Earnings Per Share (USS) ACvieECH Results Presentation for the year ended 31 December 2024
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Slide 19: Schools Division
Schools Division ACvieCH . GROUP 4 countries | 119 schools | 45 643 students Progressive/ Traditional/ Mid-Fee Specialised Academic Early Childhood Online/ Modern Holistic Support and Assisted Development Homeschooling & : Learning a 7] . Crawford TRINITYHOUSE Makini 2. Schools Pre-Prinary © Prepara
Slide 20: Schools Division
Schools Division ACvieCH Revenue (R'm) Operating Profit (R’m)
Slide 21: Schools South Africa
Schools South Africa ACvieCH Revenue (R'm) Operating Profit (R’m)
Slide 22: Schools Rest of Africa
Schools Rest of Africa ACvieCH Revenue (R'm) Operating Profit (R’m) 2020 2021 2022 2023 2024 @ <acr @ *4yearcacr
Slide 23: 2024 SA Schools Academic Results
2024 SA Schools Academic Results ACveCH Independent Examination IEB Board (IEB) Results Acknowledgements 23 ADvVTECH students were recognised for Matric pass rate ADvTECH IEB students 99.4% outstanding performance by the IEB (2023: 99.7%) Bachelor degree 11 ADvTECH pass rate students were ADvTECH IE
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Slide 25: Pinnacle College, Ridgeview High School
Pinnacle College, Ridgeview High School = Total building capacity: Es First Phase = Second Phase
Slide 26: Gaborone International School Expansion
Gaborone International School Expansion
Slide 27: Acquisition: Flipper International School
Acquisition: Flipper International School Adds Ethiopia to our international operation alongside Kenya, Botswana and Ghana Good fit with our existing mid-fee African model Acquisition price: R136m, internally funded 5 well-established schools in Addis Ababa + Founded in 1998 Over 3,000 students, 450
Slide 28: School Building Capacity
School Building Capacity Efficient use of existing buildings - with room to add additional capacity Students enrolled (‘000) Existing building capacity (‘000) % Existing building capacity utilised Ultimate capacity (‘000) % Of ultimate capacity utilised Feb 2021 33.9 41.5 82% 56.8 60% Feb 2022 36.8
Slide 29: Tertiary Division
Tertiary Division
Slide 30: • • • • • • • • • • • • • •
• • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Slide 31: Comprehensive Range of Qualifications
Comprehensive Range of Qualifications ACvieCH Vocational Training (FET) . Skills Development Programmes (SLPs) Higher Certificates Diplomas Degrees Honours Masters Multi-channel modes of delivery available, any time, any place Pack & Post * Oxbridge * Oxbridge * All brands * Rosebank College * Capsi
Slide 32: Tertiary Division
Tertiary Division ADvieECH Revenue (R'm) Operating Profit (R’m) Results Presentation for the year ended 31 December 2024
Slide 33: Tertiary Academic Results
Tertiary Academic Results GROUP South Africa 1 2 82 9 80% Average Module Success Rate by Year (%) graduates average module eo (2023:11 739) success rate (2023: 78%) * 2020 2021 2022 2023 2024 Module Success Rate by Module NQF Level (%) ©2022 ©2023 2024 Higher certificate Diploma Advanced diploma Thr
Slide 34: Path To University Status
Path To University Status ADvieCH GROUP 2022 to 2024: + Our minimum time degree completion and graduate employment rates are + Increase in academic staff qualification levels: significantly better than public Universities + Staff with Doctorates: +75% to 154 + Staffwith Masters: +53% to 758 + Impact
Slide 35: Real Estate / Acquisitions
Real Estate / Acquisitions
Slide 36: Varsity College, Pretoria
Varsity College, Pretoria ACviEcCH
Slide 37: Vega, Pretoria
Vega, Pretoria
Slide 38: New University Campus, Grayston Drive, Sandton
New University Campus, Grayston Drive, Sandton The Varsity College Sandton and Vega Bordeaux campuses will relocate to. the new site in 2026 + R419m investment over 2 years + 47000 m2 land area + Will double current capacity in building phase one to 9 000 students + Ultimate built capacity of over 1
Slide 39: Rosebank College, Braamfontein
Rosebank College, Braamfontein ACviEcCH I — to create a student precinct od Capex approved to increase capacity and to create a social environment where students can collaborate, learn and experience campus life BRRRLALE TERRELL Upgrade commenced in the last quarter of 2024 Student capacity will inc
Slide 40: Rosebank College, Braamfontein
Rosebank College, Braamfontein Mega Campus ROSEBANK = Results Presentation for the year ended 31 December 2024
Slide 41: Rosebank College, Polokwane
Rosebank College, Polokwane GREAT EXPANSION
Slide 42: Capsicum Culinary Studio
Capsicum Culinary Studio
Slide 43: Rosebank International University College, Ghana
Rosebank International University College, Ghana ACvwe Opens September 2025 GROU + Adds Ghana to our Rest of Africa operation and extends the Rosebank brand outside of South Africa for the first time + $3000 per annum fee point Existing international universities @ $8 000-$10 000 + Strong local dema
Slide 44: Resourcing Division
Resourcing Division
Slide 45: Resourcing Division
Resourcing Division ADveCH Revenue (R'm) Operating Profit (R’m) 2020 2021 2022 2023 2020 2021 2022 2023 @ acer @ *4 Year cacr Results Presentation for the year ended 31 December 2024
Slide 46: Resourcing Rest of Africa
Resourcing Rest of Africa ACveCH Constrained top line growth but improved operating profit and margin GROUP Revenue (R'm) Operating Profit (R’m) Operating Margin (%) +5% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 @ cacr Results Presentation for the year ended 31 Decem
Slide 47: Resourcing South Africa
Resourcing South Africa ACveCH * GROUP Impacted by a constrained market Revenue (R'm) Operating Profit (R’m) Operating Margin (%) 1 27-25 05 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 @ cacr Results Presentation for the year ended 31 December 2024
Slide 48: Group Analysis
Group Analysis Group Commercial Director, Didier Oesch
Slide 49: Debtors Breakdown
Debtors Breakdown ACvieCH 2024 2023 Rm Group Total| Schools Tertiary |Resourcing|Group Total} Schools Tertiary | Resourcing Trade receivables 808.8 131.4 635.9 415 813.0 106.3 669.9 36.8 Loss allowance (394.9) (76.6) (313.4) (4.9) (405.3) (64.0) (337.9) (3.4) 413.9 54.8 322.5 36.6 407.7 42.3 332.0 3
Slide 50: Cash Flow Generation from Operations (R'm)
Cash Flow Generation from Operations (R'm) ACvieECH Demonstrates the inherent cash generating ability of our business Results Presentation for the year ended 31 December 2024
Slide 51: Cash vs Net Borrowings
Cash vs Net Borrowings Strong cash generation, sound balance sheet O Cash generated by operations ONet borrowings position 2 266 1714 1998 1265 1472 (1288) (1546) E10) uv (2 059) Covenants - net . 2020 2021 2022 2023 2024 borrowings: EBITDA Ratio = Net borrowing to Banks: 3.25x cash generation 1.6 1
Slide 52: Improving Returns on Funds Employed
Improving Returns on Funds Employed ACvieECH GROUP G@aCapex + Acquisitions = <Q=ROFE 20.7% 21.4% 18.9% 16.6% 13.9% 2020 2021 2022 2023 2024 2025 Opened: Opened: Opened: Acquired: Opened: Trinityhouse Evolve Pinnacle College Q Flipper International Pinnacle College & Glenvista ‘Online School @pNe Ras
Slide 53: Return on Invested Capital
Return on Invested Capital ACveCH 153 15.7 13.7 12.1 10.1 Percentage Results Presentation for the year ended 31 December 2024
Slide 54: Capital Expenditure and Acquisitions
Capital Expenditure and Acquisitions ACviECH GROUP oct Capex projects and acquisitions R1058m i i es 1 ' i} ' 328 ' ' ' ' 274 ! 1 ' i) 238 ! ' 1 1 1 ' ' 1 1 1 Vv 78 76 64 1 New School 3 New Business and Additions to Furniture, Fittings, Acquisition Tertiary Sites teaching and existing sites IT and V
Slide 55: Dividend
Dividend
Slide 56: Delivering Superior Shareholder Returns
Delivering Superior Shareholder Returns Strong cash generation and sound balance sheet | * Generating cash in excess of that required to fund investment programme 63 cents * Aligned to final dividend cover of 2.0 times Final gross dividend per share (2023: 57 cents) 101 cents Full year dividend per
Slide 57: Dividends Per Share
Dividends Per Share ACvieCH Cash generative business continues to drive dividend increases SROUP 101 87 60 50 20 | : : : 2020 2021 2022 2023 2024 BFinal Olnterim @ Total cacr Results Presentation for the year ended 31 December 2024
Slide 58: Future Focus
Future Focus Group CEO, Geoff Whyte
Slide 59: ADvTECH Forward Vision
C6 We will lead in every market segment in which we choose to operate. We will become the employer of choice in the education and resourcing sectors.9 y H ADvTECH Forward Vision
Slide 60: Strategic Imperatives
Strategic Imperatives Update from 2024 Investor Strategy Day Addition of new, high-demand tertiary qualifications Simplification of brand structures Optimisation of brand propositions and marketing Investment to secure university status Expansion of African operations Aggressively grow distance tert
Slide 61: Prospects
Prospects South African demographic and supply and demand tailwinds continue, especially in Tertiary Sound balance sheet Unrelenting focus on extending competitive advantage in both the schools and tertiary divisions Strong cash generation Growing scale and expertise in Africa Good position to maint
Slide 62: Recognising An Illustrious ADvTECH Career
Recognising An Illustrious 20 year ADVTECH Career ACvieCH Didier Oesch + Joined ADVTECH as Group Financial Manager in 2005 + Promoted to Group Financial Director in the same year + Promoted to Group Commercial Director / CFO in 2019
Slide 63: Highlights of Didier's Tenure
Highlights of Didier’s Tenure ACvieCH Student Enrolments Group Revenue ADvTECH Employees 957% 1 189% 230% 2005 2025 2005 2024 2005 2023 10 000 105 710 R661m R8.5bn 2560 8 438 Share Price Share Price and Dividends 1511% 1794% 2005 2024 2005 | 2024 R2.10 R33.84 R2.10 R39.78
Slide 64: Q & A