Ânima (ANIM3) Q3 2024 earnings summary

Executive summary

• Transition to a new CEO and organizational structure was completed smoothly, emphasizing continuity, disciplined execution, and sustainable growth through the "Third Wave" strategy with three main avenues for expansion.

• Achieved solid financial results in 3Q24, including adjusted EBITDA of R$264.8M (up 12.2% YoY), and net revenue of R$938.3M, with a focus on quality revenue and improved dropout rates.

• Adjusted net income for 3Q24 was R$49.0M, with 9M24 at R$178.2M, the highest in company history.

• Strategic focus on sustainable revenue growth, operational efficiency, and new business opportunities.

Financial highlights

• Adjusted EBITDA ex-IFRS16 grew 12.2% in 3Q24 to R$264.8M; 9M24 EBITDA up 19.1% YoY to R$860.7M.

• Net revenue in 3Q24 was R$938.3M, stable YoY; 9M24 net revenue reached R$2.91B, up 2.8% from 9M23.

• Cash generation in 3Q24 was R$328.5M; operating cash flow was R$303.0M.

• EBITDA margin expanded for 11 consecutive quarters, reaching 28.2% in 3Q24.

• ROIC reached 10.1% in LTM 3Q24, up 2.1pp from 2023.

Outlook and guidance

• Management expects continued margin expansion, profitability, and robust cash generation, with a focus on sustainable growth and disciplined capital allocation.

• Prepared for Q4 seasonality, with a temporary increase in net debt expected.