Slide 1: 2024 Full Year Financial & Operational Results
ASX Announcement ASX Code: NDO 2024 Full Year Financial & Operational Results 26 February 2025 Nido Education Limited (ASX: NDO) (Nido or Company) is pleased to announce its financial and operational results for the year ended 31 December 2024. Group performance summary Nido has delivered $19.5m NPAT
Slide 2: Group performance
Group performance Nido generated $166.8m of revenue in FY2024 and delivered $22m EBITDA (pre-AASB 16). Performance ($m) FY24 FY23 Change Service revenue 159.9 88.5 71.4 81% Establishment and management fees 6.9 7.2 (0.3) (4%) Group revenue 166.8 95.7 71.1 74% Service EBITDA 32.4 10.2 22.2 218% 1 Sup
Slide 3: FY2024 Overview
1 Service performance ($m) H1 H2 FY24 Service revenue 72.2 84.5 156.7 Other Service revenue 1.5 1.7 3.2 Total Service revenue 73.7 86.2 159.9 Service costs (61.8) (65.7) (127.5) Service EBITDA 11.9 20.5 32.4 Half year EBITDA % 37% 63% 100% Average Service EBITDA ($’000) 229 379 611 Days of learning
Slide 4: Seasonal Growth Expectations
Seasonal Growth Expectations Nido has historically observed a significant rise in occupancy rates from April to November. This trend is driven by heightened demand for child care services as families and businesses prepare for the festive season and as children begin to transition to full-time school
Slide 5: The Year Ahead
The Year Ahead How we started Service-Based EBITDA Growth: Nido has achieved a 40% increase in service-based EBITDA for January compared to the previous year (30% organic and 10% acquisitions). Despite a strong start to the year, February enrolments have been subdued. This trend suggests that famili
Slide 6: Investor briefing call
Political Landscape The 2025 election is expected to elevate child care as a key topic in political discussions. With child care being central to campaign themes, there is potential for further policies aimed at reducing access costs for families. Such initiatives could significantly alleviate cost-o
Slide 7: Annual General Meeting
Annual General Meeting The annual general meeting of the Company will be held at 11:00am (Sydney time) on Thursday, 1 May 2025 and is proposed to be held as a hybrid meeting (in-person and online). Details will be set out in the Notice of Meeting. The closing date for receipt of nominations from per
Slide 8: 2024 Full Year Results
2024 Full Year Results NIDO Education Limited (ASX:NDO) 26 February 2025
Slide 9: Disclaimer
Disclaimer This presentation has been prepared by Nido Education Limited ACN 650 967 703 (Nido) business decisions, which are subject to change and, in many cases, are outside the control (ASX code: NDO) in relation to its financial and operational results for the year ended 31 of Nido and its Direc
Slide 10: The Nido Approach
The Nido Approach The world we are building for tomorrow starts with the Teachers of today Our purpose Our vision Our mission To create an environment To create an environment To build the capacity of the that supports teachers to where people feel happy world’s teachers, so they rise and make a pos
Slide 11: Contents
Contents 1 Full year results 2 Business update 3 Incubation 4 Year ahead NIDO Education Limited (ASX:NDO) 2024 Full Year Results Butler, WA
Slide 12: Today's Speakers
Today’s Speakers Mat Edwards Adam Lai Tom Herring Managing Director Chief Executive Officer Chief Financial Officer • Founded Nido Education • Joined Nido as Chief Executive • Joined Nido as Chief Financial Limited following the Officer in February 2025 Officer in April 2021 privatisation of the lis
Slide 13: Full year Results
01 Full year Results NIDO Education Limited (ASX:NDO) 2024 Full Year Results Hilbert, WA
Slide 14: Group Performance
Group Performance Financial performance Dividend Capital ↑ Revenue Dividend Cash conversion $166.8m 5.8c 110% 74% from FY23 Per share ↑ EBITDA* Yield Net Leverage Ratio $22.0m 7.4% 0.16x from $15.4m loss in FY23 On current share price1 ↑ NPAT* Franking Acquisition facility available $19.5m 35% $48m
Slide 15: Profit and Loss
Profit and Loss $19.5m NPAT with 7.4% dividend yield1 Performance ($m) FY24 FY23 Change Dividend FY24 Service revenue 159.9 88.5 71.4 81% Unfranked 3.77c Establishment and management fees 6.9 7.2 (0.3) (4%) Franked 2.03c Group revenue 166.8 95.7 71.1 74% Total 5.8c Service EBITDA 32.4 10.2 22.2 218%
Slide 16: Service EBITDA
Service EBITDA Average annual EBITDA per Service of $611k Service performance1 ($m) H1 H2 FY24 Revenue and average daily fee Service revenue 72.2 84.5 156.7 • Days of learning increased by 8% in the second half delivering a peak occupancy Other Service revenue 1.5 1.7 3.2 of 80% and an average of 78
Slide 17: Capital management
Capital management Free cash flow has facilitated acquisitions and debt repayments Cash allocation Net Debt ($m) Dec 24 Cash 3.5 Operating cashflow Drawn from Facility A (7.0) $25.3m Net debt (3.5) Net Leverage Ratio 0.16x Capital expenditure $1.2m Available debt ($m) Dec 24 Free cashflow 110% cash
Slide 18: Business update
02 Business update NIDO Education Limited (ASX:NDO) 2024 Full Year Results Wandi, WA
Slide 19: FY2024 Service (Centre) Performance
FY2024 Service (Centre) Performance 56 owned Services Service performance Days sold Places and fees ↑ Service EBITDA* ↑ Days available Licensed places $32.4m 1,231k 89 from $10.2m in FY23 from 788k in FY23 average ↑ EBITDA* per service ↑ Days sold Daily fee $611k 956k $164 from $303k in FY23 from 59
Slide 20: Monthly performance
Monthly performance Wages were closely managed delivering wage savings in the second half Revenue versus wage costs 1 ($m) FY24 first quarter wage costs included an additional $1.2m for 13.8 13.9 14.1 14.1 educators recruited ahead of 13.6 12.8 12.8 13.0 demand 12.6 12.6 12.0 12.0 12.2 Wages have re
Slide 21: Service EBITDA*
Service EBITDA* Service EBITDA* growth trended up in the second half Monthly EBITDA Jan 2024 –Jan 20251 Service wide operational changes have underpinned sustainable 4.1 EBITDA growth January 2025 EBITDA* of $2.8m was 3.5 approximately $800k higher than 3.2 3.3 January 2024 3.1 2.9 2.8 The current a
Slide 22: Historical growth
Historical growth We have a track record of sustainable growth and are well positioned for this to continue Proforma service performance ($m)1 The current portfolio of owned services has been developed in 180 60 just 5 years 160 50 Revenue has grown from $18m to 140 $160m and EBITDA has grown to 120
Slide 23: Incubation
03 Incubation NIDO Education Limited (ASX:NDO) 2024 Full Year Results Ellenbrook, WA
Slide 24: Incubation
Incubation Unique model mitigates risks associated with growth through typical roll up or greenfield strategies Summary Phases The typical growth model in child care has been a roll-up, simply 1 Nido sources and evaluates the site, presents it to the acquiring on market from a variety of vendors Inc
Slide 25: Incubation model
Incubation model Incubation strategy Purpose built Consistent growth Nido has developed a greenfield All Nido’s Early Schools are Nido has access to a de-risked incubation strategy to mitigate designed by Nido and managed acquisition pipeline of 100+ risks associated with the by Nido from site selec
Slide 26: Trade up of Services in incubation
Trade up of Services in incubation Occupancy is building steadily Services in incubation - Spot occupancy1,2 2025 Acquisitions Following the 4 Services acquired in September 2024, 13 Services are open in incubation and are trading up steadily 80% towards acquisition metrics 74% Acquisition metrics 6
Slide 27: Incubation Pipeline
Incubation Pipeline 100+ sites are being actively managed Number of Services expected to open within 36 months 55 Services are expected to open over the next 36 months Additionally, 50 sites are under Incubator Board review Nido continues to review between 100+ sites per month 30 and has 50+ sites b
Slide 28: Year ahead
04 Year ahead NIDO Education Limited (ASX:NDO) 2024 Full Year Results Hilbert, WA
Slide 29: The year ahead
The year ahead Early signs Service EBITDA Growth: Nido has achieved a 40% increase in Service EBITDA* for January compared to the previous year (30% organic and 10% acquisitions). Despite a strong start to the year, February enrolments have been subdued. This trend suggests that families are exercis
Slide 30: The year ahead
The year ahead Political landscape The 2025 election will elevate child care as a key topic in political discussions. With child care being central to campaign themes, there is potential for further policies aimed at reducing access costs for families. Such initiatives could significantly alleviate
Slide 31: Questions
Questions NIDO Education Limited (ASX:NDO) 2024 Full Year Results Butler, WA
Slide 32: Appendices
Appendices Glossary I II Financial Statements III Profit and loss versus Prospectus NIDO Education Limited (ASX:NDO) 2024 Full Year Results Thornlie, WA
Slide 33: Appendix I: Glossary
Appendix I: Glossary Term Definition / Meaning Prospectus Nido IPO Prospectus Forecast dated 20 September 2023 EBITDA* Total Group Earnings before Interest tax depreciation and amortisation before the impact of AASB 16 Service EBITDA* EBITDA* generated from owned Services NPAT* Total Group Net Profi
Slide 34: Appendix II: Financial Statements
Appendix II: Financial Statements 31 December 31 December 31 December 31 December Consolidated statement of profit or loss and 2024 2023 2024 2023 other comprehensive income for the year ended EBITDA & NPAT Reconciliations 31 December 2024 #039;000 #039;000 #039;000 #039;000 Revenue 163,631 93,372 Reported EBIT
Slide 35: Appendix II: Financial Statements
Appendix II: Financial Statements Consolidated statement of financial position as at 31 December 31 December 31 December Consolidated statement of cashflow for the year 31 December 31 December 2024 2024 2023 ended 31 December 2024 2024 2023 #039;000 #039;000 #039;000 #039;000 ASSETS Cash and cash equivalents 3,
Slide 36: Appendix III: Profit and loss versus Prospectus
Appendix III: Profit and loss versus Prospectus Shortfall on prospectus due to construction delays as indicated in August 2024 Performance ($m) FY24 Prospectus1 Change Service EBITDA Service revenue 159.9 161.1 (1.2) (0.1%) • First quarter wage costs Establishment and management fees 6.9 10.5 (3.6)
Slide 37: Thank you
Thank you www.nidoeducation.edu.au NIDO Education Limited (ASX:NDO)