3Q11 EARNINGS RELEASE
Belo Horizonte, November 09, 2011, Kroton Educacional S.A. (BM&FBovespa: KROT11 and Bloomberg: KROT11:BZ), announces its results for the third quarter of 2011 (3Q11).
- Pro forma net revenue increases 13.0% over 3Q10, reflecting the growth in the number of students in the Post Secondary Education and enrollments during 3Q11.
- Pro forma gross income achieves R$ 62.7 million, an increase of 14.9% compared to 3Q10. Gross margin was 36.2%.
- Pro forma EBITDA reaches R$ 24.3 million, 28.1% higher than in 3Q10. The margin of 14.0% proves the substantial improvement in Post Secondary Education’s performance and operations.
- Pro forma net income rises 166.8% over 3Q10, totaling R$ 17.2 million.
- The total base of students surpasses 100,000. The number of new students in Post Secondary Education exceeds budget, with 17,205 entrants in the second half, an increase of 68.0% over 3Q10.
- FIES becomes even more important, been responsible for about 28% of the undergraduate students enrollments during 3Q11, reaching a total of 18,127 students through September, or 20.9% of the students base.
- The integration processes of the units acquired in July have been concluded, with results better than expected used for pricing of the assets, demonstrating Kroton’s efficiency in adding value to its operations through acquisitions.
- Conclusion of the acquisition of the FAIS institution with 1,302 students and an extensive M&A pipeline shall consolidate positive prospects for the inorganic growth.
- In November, the Company received two important distinctions from Institutional Investor magazine as part of its annual award program, for the “2011 Latin America Executive Team”: “Best Investors Relations” and “Best Investor Relations Professional”.
To access the Earnings Release, please, click here.
3Q11 Earnings Conference Call: November 10, 2011
Time: 12:30 p.m. (Brasília)
Time: 09:30 a.m. (New York)
Phone: +1 (412) 317-6776
Replay: +1 (412) 317-0088
Time: 11:00 a.m. (Brasília)
Time: 08:00 a.m. (New York)
Phone: +55 (11) 3127-4971
Replay: +55 (11) 3127-4999
Participants are requested to connect ten minutes prior to the time set for the conference call.
Slides and Webcast: The conference call slides will be available on our website www.kroton.com.br/ir on November 10. The Conference Call will be webcasted simultaneously on the same website, and will remain available after the event.
More information is available at www.kroton.com.br
Carlos Lazar - Director
Carolina Igi - Analyst
Telephone: + 55 (11) 3775.2288 or + 55 (11) 3775.2003
With a history of more than 45 years, Kroton Educacional is currently one of Brazil’s largest private education organizations. The Company has a differentiated business model and an innovative academic project, serving approximately 102,000 Higher Education students through its 40 units present in 30 cities across nine Brazilian states. In Primary and Secondary Education, it provides supreme Learning Systems for 4 municipalities and 777 Associated Schools, serving more than 280,000 students.