Ânima (ANIM3) Q4 2024 earnings summary

Executive summary

• Achieved 12 consecutive quarters of margin expansion, with adjusted EBITDA ex-IFRS16 up 17.5% year-over-year to R$1,084.9 million, surpassing R$1 billion for the first time, and completed full integration of Laureate assets and systems.

• Enhanced student and educator experience through technology upgrades, improved Ulife app ratings, and new omnichannel support, while receiving top academic recognitions including highest MEC scores and the OAB Recommend Seal.

• Welcomed new CEO Paula Harraca, restructured the executive committee, and implemented decentralized marketing strategies to drive the next growth phase.

• Inspirali expanded its medical education portfolio, received top Ministry of Education scores, and acquired Eu Médico Residente, boosting CME revenue and student base.

• Focused on operational efficiency, student retention, and setting the stage for sustainable growth with a leaner executive structure.

Financial highlights

• Net revenue grew 1.8% year-over-year to R$3,801.4 million in 2024; adjusted gross profit rose 4.0% to R$2,557.7 million, with gross margin expanding by 1.4 p.p. to 67.3%.

• Adjusted EBITDA ex-IFRS16 increased 17.5% to R$1,084.9 million, with margin up 3.8 p.p. to 28.5%.

• Adjusted net income reached R$187.0 million, reversing a R$46.4 million loss in 2023; net income attributable to controlling shareholders was R$85.1 million.

• Cash flow to firm rose 10.2% to R$783.6 million; cash position at year-end was R$1,252.0 million (+27.2% YoY).

• Leverage (net debt/EBITDA adj. ex-IFRS16) reduced to 2.80x from 3.25x; average debt tenor extended to 4.1 years.

Outlook and guidance

• Entering a new growth phase focused on sustainable revenue expansion, with confidence in continued margin expansion, cash generation, and sufficient liquidity to cover debt maturities through 2027.

• Ongoing investments in technology, academic quality, and operational efficiency to drive student retention and experience.

• Anticipates further growth in medical education with new course authorizations, integration of Eu Médico Residente, and participation in Mais Médicos III.

• Plans to launch the first university dedicated to the creator economy in partnership with Agência Califórnia.