Embark Early Education Limited · ASX:EVO
Embark Early Education — FY2024 Earnings Presentation
14 slides from Embark Early Education's earnings presentation, Feb 24, 2025
Slide 1: 2023 Full Year Results Investor Presentation
2023 Full Year 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: Highlights
Highlights
Slide 4: CY24 Overview
CY24 Overview AUSTRALIAN BUSINESS SEES STRONG GROWTH • Revenue growth of 29% in 2024 to $81.6 million. • Underlying centre EBITDA growth of 26% to $21.6 million EVENTS • New Chief Operating Officer (Greg Scott) appointed to role overseeing company operations • 14 Centre Acquisitions throughout the y
Slide 5: Financial Highlights
Financial Highlights (CY2024 v CY2023) • Revenue growth of 29% $ Million to $81.6 million 90 80 70 60 50 40 • Underlying centre EBITDA 30 growth of 26% to $21.6 million 20 10 0 Revenue Operating Expenses Underlying Centre EBITDA 2023 2024 5
Slide 6: Operational Highlights
Operational Highlights (CY2024 v CY2023) • Average 2024 Centre Occupancy of 80% • Peak 2024 Centre Occupancy in week 40 of 85% Monthly Occupancy Wage to Revenue Ratio 90% 65% 85% 60% 80% 55% 75% 50% 70% 65% 45% 60% 40% 2024 2023 2024 2023 6
Slide 7: Financial Performance
Financial Performance e
Slide 8: Financial Summary
Financial Summary STRONG PERFORMANCE FROM CONTINUING OPERATIONS 2024 2023 Non-statutory accounts • Revenue growth of 29% driven by (pre AASB16) Consolidated Consolidated operational efficiency, new centre acquisitions and fee increases $'000 $'000 Revenue 81,611 63,006 • WRA 53.4% Centre Wages (43,5
Slide 9: Financial Summary
Financial Summary STRONG PERFORMANCE FROM CONTINUING OPERATIONS • 29% revenue increase in 2024 RESTATED 2024 2023 $'000 $'000 Childcare Fees 22,969 19,084 Government Funding 58,439 43,896 Other Revenue 202 143 Revenue 81,611 63,123 • 17.4% higher profit before net Expenses Employee benefits expenses
Slide 10: Balance Sheet Strong To Pursue Growth
Balance Sheet Strong To Pursue Growth RESTATED RESTATED YEAR YEAR YEAR 31 DECEMBER 31 DECEMBER 1 JANUARY 2024 2023 2023 • $4.2m borrowings at 31 $'000 $'000 $'000 Cash and cash equivalents 13,348 26,839 16,201 December 2024 Funding Receivable Current tax asset - - - - 614 196 Trade and other receiva
Slide 11: Strategy and Outlook
Strategy and Outlook
Slide 12: Encouraging Start to 2025
Encouraging Start to 2025 • Integrate new acquisitions into portfolio • Implement government wage retention grant payments • Small February 2025 fee increase to offset increased costs • Acquisitions to continue with multiple opportunities in the pipeline • January/February* 2025 revenue approximatel
Slide 13: Appendix
Appendix
Slide 14: Glossary
Glossary Term Definition EBITDA Earnings before interest, taxation, depreciation and amortisation. Earnings before interest, taxation, depreciation and amortisation less the effects of NZ IFRS 16: Leases, gains and losses on the sale or closure of businesses, acquisition and integration Underlying E
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