Ânima Holding (ANIM3) investor relations material

Executive summary

• Consolidated net revenue grew 4% to R$2.05bn in 1H25, with all segments contributing and a focus on quality and student experience.

• Adjusted EBITDA ex-IFRS16 increased 7.7% in 1H25, with margin expansion and net income up 11.8% to R$144.5 million.

• Operating cash flow rose 7% to R$778 million in 1H25, with leverage reduced to 2.66x.

• Strategic investments in academic quality, student experience, and innovation, including the launch of the Community Creators Academy.

• Focus on efficiency and sustainable growth, reinvesting savings and maintaining strong brand positioning.

Financial highlights

• Net revenue reached R$2.05bn in 1H25 (+4% YoY), with growth in ticket price and student retention across all segments.

• Adjusted EBITDA ex-IFRS16 was R$641.9 million in 1H25 (+7.7% YoY), with margin expansion to 31.4%.

• Adjusted net income was R$144.5 million in 1H25 (+11.8% YoY), and adjusted net margin rose to 7.1%.

• Operating cash flow was R$778.1 million in 1H25 (+7% YoY), supporting liquidity and deleveraging.

• Dividend payout of 25% of net income for 2024/1H25, with no additional dividends expected this year.

Outlook and guidance

• Expectation of slightly lower gross margins due to increased investment in academic quality, offset by efficiency gains to maintain high operating margins.

• Continued focus on organic deleveraging, with leverage reduction driven by cash generation and disciplined capital management.

• Positioned to benefit from new regulatory frameworks in Distance Learning and on-campus education, with infrastructure and academic model ready for sector changes.

• No formal growth guidance, but strategy centers on core business expansion, quality revenue, and leveraging strong brands.

• Emphasis on student experience, academic quality, and innovation to drive sustainable growth.