Slide 1: FY25 Results Presentation
FY25 Results Presentation 27 August 2025
Slide 2: Important notice & disclaimer
Important notice & disclaimer Summary Information with their own legal, tax, business and/or financial advisors. This Presentation contains summary information about NextEd Group Limited and its activities which is current only as at the date of this Presentation (unless specified otherwise). The ma
Slide 3: Today’s presenters
Today’s presenters Mark Kehoe Andrew Nye CEO CFO/COO 3
Slide 4: Contents
Contents 1. Key Highlights & Financial Summary 5 2. Strategic Review & Reset 10 3 FY25 Financial and Operating Performance 17 4. Outlook 24 5. Appendices 27
Slide 5: Key Highlights & Financial Summary
Key Highlights & Financial Summary 5
Slide 6: Financial Strength. Policy Shift. New Leadership
Financial Strength. Policy Shift. New Leadership CASH STRONG Improved position, zero debt RESET BASE Cost structure simplified, margins improving EARLY TAILWINDS National Planning Level (NPL) lifted, stable policy, supportive rhetoric AI & SKILLS Industry disruption; positioned for in-demand skills
Slide 7: FY25 Key Highlights – Reset in Motion
FY25 Key Highlights – Reset in Motion Cash improved to $18.9m; no debt Operating costs reduced by $5.6m (13.2%) Revenue $95.9m (-13.9%) - impacted by regulatory environment EBITDA resilient at $14.3m despite revenue decline Financial Performance Leadership reset - New CEO, CFO, refreshed B
Slide 8: Tailwinds emerging – Positioned to Benefit
Tailwinds emerging – Positioned to Benefit Positive shift underway Greenwich & Industry Visa’s Grant Rates Student National Planning Level (NPL) up +9% to 295k - 79.4% 80.9% 82.8% 86.9% 87.6% 87.4% 84.8% 85.0% 83.2% 78.3% 77.5% 74.8% confidence is returning Government more supportive - internati
Slide 9: Financial Performance
Financial Performance Significant cost actions taken, and change in revenue mix, enabled the Group to maintain underlying EBITDA, stabilise operating cashflows and improve cash position in the period Revenue Underlying EBITDA1 Statutory NPAT loss Operating Cash position cash flows Jun 2025 $95.9m $1
Slide 10: Strategic Review – from Reset to Rebuild
Strategic Review – from Reset to Rebuild 10
Slide 11: Strategic Reset in Place
Strategic Reset in Place Comprehensive review delivered a clear plan – profitability, portfolio and growth FINDINGS OUTCOMES $20b fragmented market* with attractive growth Organisation restructured; new leadership and outlook model in place Simplification needed across brands, courses and St
Slide 12: Strategy at a Glance
Strategy at a Glance Each strategic pillar is supported by a series of initiatives 1. IMPROVE PROFITABILITY 2. ENHANCE PORTFOLIO 3. GROW NEW BUSINESS AREAS 1.1 Enhance profitability of current 2.1 Review mix of courses by 3.1 Test growth of B2B business subject 1.2 Promote unified 2.2 Review portfol
Slide 13: Pillar 1: Improve Profitability
Pillar 1: Improve Profitability Leaner cost base delivering stronger margins CORE INITIATIVES PROOF POINTS Campus rationalisation - Rent savings and sub-lease MARGIN UPLIFT PROPERTY SAVINGS opportunities Improve utilisation – classroom, scheduling, resources Gross margin Lease exits and sublets
Slide 14: Pillar 2: Enhance Portfolio | Greenwich
Pillar 2: Enhance Portfolio | Greenwich Strong, resilient brand with growing vocational share and compliance edge. CURRENT STATE FUTURE GROWTH Market Share ELICOS1 Market Share VET1 Higher Ed pathway: VET-to-HE, brand launch Sept, first 15.2% 16.9% 2.4% intake Feb 2026; extends LTV, strengthens po
Slide 15: Pillar 2: Enhance Portfolio | Technology & Design, Domestic and Go Study
Pillar 2: Enhance Portfolio | Technology & Design, Domestic and Go Study Diversifying across segments and geographies to capture new growth. TECHNOLOGY & DESIGN (AIT) DOMESTIC VOCATIONAL GO STUDY AUSTRALIA Restructured - Integrated into New GM (Jul ’25) - Leading review Agile recruitment - Qui
Slide 16: Pillar 3: Disciplined Growth Agenda | Future Skills & Portfolio Expansion
Pillar 3: Disciplined Growth Agenda | Future Skills & Portfolio Expansion Strengthening our foundations while expanding where future skills meet resilient, long-term demand. EXPLORATORY INITIATIVES Projected Employment Growth (2024 – 2034)1 B2B & branded programs - Pilots under development Micro
Slide 17: FY25 Financial & Operating Performance
FY25 Financial & Operating Performance 17
Slide 18: Financial Performance
Financial Performance Revenue loss substantially mitigated through early and extensive permanent cost measures Revenues down $15.5m (13.9%) impacted by lower ($m) FY25 FY24 Var Var % International English language revenues (International), back Revenue 95.9 111.4 (15.5) (13.9%) $13.6m, and reduced
Slide 19: Cost Management
Cost Management Aggressive cost measures taken in H1 FY25 delivered $5.6m (13.2%) reduction in operating costs Savings achieved across a range of areas, with particular focus on non-academic salaries (-$4.1m / 15%), property (-$1.1m / 30.0 7%) and other opex (-$0.7m / 6%) Further $2m benefit fro
Slide 20: Cashflow
Cashflow Improved operating cashflows reflects cost actions and the composition of working capital ($m) FY25 FY24 Var Var % Improvement in operating cashflows reflects the changing composition of working capital (with lower proportion of Operating activities 11.3 1.7 9.6 n/m English language reven
Slide 21: Balance Sheet
Balance Sheet Active working capital management and changing composition delivered improved cash at year end ($m) Jun-25 Dec-24 Jun-24 Dec-23 Improved cash position $18.9m at year end Cash and cash equivalent 18.9 13.7 19.3 16.8 Right-of-use assets on property leases lower following Trade receiv
Slide 22: Segment Performance
Segment Performance Permanent cost measures taken across the Group mitigated the earnings impact of revenue shortfalls ($m) International T&D Domestic Go Corporate Total International – covered later Vocational Study Technology & Design – Revenue FY25 71.0 9.6 9.2 6.1 - 95.9 Higher education s
Slide 23: International (Greenwich) Performance
International (Greenwich) Performance Well run business, strong brand and market position providing quality outcomes for international students Revenue**($m) EBITDA1 ($m) Student Number Mix4 1% 8% 7% 19% 74.7 85.8 72.3 19.4 26% 16.2* 16.1 23.5 36% 3.5 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 65% 38%
Slide 24: Group Outlook
Next=d Group Outlook 24
Slide 25: Ready to capitalise on recovery
Ready to capitalise on recovery STRONG FOUNDATIONS CLEAR STRATEGY Trusted brands, national footprint, Three pillars driving profitability, and proven delivery capability portfolio strength, and new growth EXECUTION UNDERWAY POSITIONED TO BENEFIT Cost reset, streamlined structure, Delivering value fo
Slide 26: Thank You
Thank You Mark Kehoe Andrew Nye Level 2, 7 Kelly Street Chief Executive Officer Chief Financial Officer Ultimo NSW 2007 mark.kehoe@nexted.com.au andrew.nye@nexted.com.au nexted.com.au 26
Slide 27: Appendices
Next=d Group Appendices 27
Slide 28: AASB 16 Reconciliation
AASB 16 Reconciliation Full year actuals Change FY25 FY24 ($m) % ($m) % Post Pre Post Pre ($m) Change Change Post AASB16 Pre AASB16 AASB16 AASB16 AASB16 AASB16 Revenue 95.9 95.9 - 111.4 111.4 - (15.5) (14%) (15.5) (14%) Gross profit 51.1 51.1 - 57.3 57.3 - (6.2) (11%) (6.2) (11%) Underlying EBITDA1
Slide 29: Non-IFRS Information
Non-IFRS Information The Company uses certain measures to manage and report ($m) FY25 FY24 on its business that are not recognised under Australian Accounting Standards (‘AAS’). These measures are NET PROFIT / (LOSS) AFTER TAX (14.6) (31.2) collectively referred to as non-IFRS financial measures.
Slide 30: Segment Comparatives – FY24
Segment Comparatives – FY24 Full Year Actuals ($m) Revenue comparatives adjusted to reflect the FY24 Previously reported FY24 Revised reported elimination of intercompany revenues against the relevant business unit Revenue Revenue Variance During the current period, the Group changed the basis I
Slide 31: NextEd Group – Our Brands & Our Sectors
NextEd Group – Our Brands & Our Sectors A portfolio of education brands focused on student pathways, experiences, and outcomes. INTERNATIONAL (GREENWICH) DOMESTIC VOCATIONAL GO STUDY AUSTRALIA English language (ELICOS) Vocational Education & Training (VET); Student recruitment services Healt