Nido Education Limited - Half-Year Financial Results 2024
NIDO EDUCATION LIMITED (NDO) Share Update August 2024 Thursday 15th
Nido Education Limited Reports Strong Financial Growth for Half-Year 2024
Nido Education Limited (ASX: NDO) has reported impressive financial results for the half-year ended 30 June 2024, showcasing substantial growth in revenue and profit.
Instant Summary:
- Revenue from ordinary activities increased by 117.8% to $75.5 million.
- EBITDA surged by 413.9% to $17.5 million.
- Underlying EBITDA improved to $7.5 million from a loss of $1.9 million.
- Net profit after tax for the half-year reached $3.4 million, compared to a loss of $3.3 million in the previous period.
- No dividends were paid, recommended, or declared during the period.
Financial Performance Overview
Nido Education Limited has demonstrated remarkable financial performance for the half-year ended 30 June 2024. The company reported a significant increase in revenue, which rose by 117.8% to $75.5 million, compared to $34.7 million in the previous corresponding period.
The company's Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) saw an extraordinary rise of 413.9%, reaching $17.5 million from $3.4 million in the same period last year. This substantial growth is a testament to the company's effective operational strategies and market positioning.
Profitability and Earnings
Nido Education's underlying EBITDA also showed a positive turnaround, improving to $7.5 million from a loss of $1.9 million in the previous period. The company reported a net profit after tax of $3.4 million for the half-year, a significant improvement from the net loss of $3.3 million reported in the previous corresponding period.
The net tangible assets per share also showed a positive change, reaching 0.81 cents per share, compared to a negative 12.51 cents per share in the previous period. This improvement reflects the company's strong financial health and operational efficiency.
Operational Highlights
During the period, Nido Education Limited lost control over several indirect wholly-owned subsidiaries, including AES 4133 Pty Ltd and Nest 2171 Pty Ltd, among others. Despite these changes, the company maintained its strong financial performance and continued to focus on its core business operations.
The company also announced the resignation of CEO Ms. Renee Bowman, effective 26 July 2024. The board of directors is confident in the company's leadership team and its ability to continue driving growth and profitability.
The strong financial performance reported by Nido Education Limited is likely to have a positive impact on the company's stock price. The significant increases in revenue and profit indicate robust operational efficiency and market demand for the company's services. Investors are expected to respond positively to these results, which reflect the company's strong growth potential and financial stability.
Investor Reaction:
Analysts are likely to view Nido Education's financial results favorably, given the substantial growth in revenue and profitability. The improvement in underlying EBITDA and net profit after tax suggests that the company is effectively managing its operations and capitalizing on market opportunities. Investor sentiment is expected to be positive, with potential for increased investment in the company's stock.
Conclusion:
Investors should take note of Nido Education Limited's impressive financial performance for the half-year ended 30 June 2024. The company's strong growth in revenue and profit, along with its improved net tangible assets per share, highlight its solid financial health and growth potential. Investors are encouraged to monitor the company's future performance and consider the potential long-term benefits of investing in Nido Education Limited.