Embed Size (px)
Citation preview
1
2Q08 Earnings Release
www.estacioparticipacoes.com/ir
22
Recent Changes
(Moena Participações)
20% of capital stock
Conversion of all preferred shares into common shares (at par)
Co-management
100% of common shares
Best Corporate Governance practices
3
Ownership Breakdown
ShareholdersCommomShares %
Founder Shareholder
Free float
Total
43,037,648
18,830,405
78,585,066
54.8
20.0
100.0
GP 15,717,013
25.2
One simple class with Voting Right
4
Board of Directors, Board of Executive Officers and Fiscal Council
New Board of Directors:
New Board of Executive Officers:
Fiscal Council:
5
Highlights
• Academic Reform
ModularizationNationalizationDistance Learning
• SAP system at all our units
• SIA in implementation fase
6
2Q07 2Q08 Var. % 1H07 1H08 Var. %
Number of Students (thousands) 173 193 11.7% 173 193 11.7%
Average Tuition ¹ (R$) 427 440 3.1% 433 447 3.3%
Students Enrolled and Revenue
Net Revenue (R$ million)
(1) Net Revenue / Average Paying Student Base (1) Net Revenue / Average Paying Student Base
63.2
73.0
2.2
2Q07 2Q08
7
Cost of Services and SG&A (R$ million)
Cost of Services
Gross Profit: 35.1% NR*Gross Profit: 35.1% NR*
*NR = Net Revenue*NR = Net Revenue
Gross Profit: 35.7% NR*Gross Profit: 35.7% NR*
SG&A
Extraordinary Items
76.9% 76.3%
14.7% 15.5%
3.1% 3.5%5.3% 4.7%
2T07 2T08
Pessoal / Encargos Aluguéis Serviços de Terceiros Outros
R$136,0 M (65.0% RL) R$152,9 M (64.3% RL)
19.0%
15.5%R$63.2 M (30.2%) NR *
R$75.2M (31.6%) NR *
8
Ebitda and Net Income (R$ million)
Ebitda
Net Income
3.1
9.3
2Q07 2Q08
200.7%
EBITDA Margin
ROE (Net Income1/ Shareholders’ Equity)
10.613.2
2Q07 2Q08
24.6%
5.1%5.5%
9
Capex and Cash Flow (R$ million)
CAPEX
Cash Flow
10
Questions & Answers
11
IR Contacts & Disclaimer
Investor Relations – Estácio
Carlos Lacerda – [email protected]
Fernando Santino – [email protected]
Contact IR: [email protected].: (55) 21 2433-9789 / 9790 / 9791
Av. das Américas, 3434 – C. Empresarial Mario Henrique Simonsen - Bloco 7 CEP 22.640-102 - Barra da Tijuca - Rio de Janeiro/RJ - Brazil
We are a holding company, and our only assets are our interests in SESES, STB, SESPA, SESCE and SESPE, and we currently hold 99.9% of
the capital stock of each of these subsidiaries. This presentation may contain forward-looking statements concerning the industry’s prospects
and Estácio Participações’ estimated financial and operating results; these are mere projections and, as such, are based solely on the
Company management’s expectations regarding the future of the business and its continuous access to capital to finance Estácio
Participações’ business plan. These considerations depend substantially on changes in market conditions, government rules, competitive
pressures and the performance of the sector and the Brazilian economy as well as other factors and are, therefore, subject to changes without
previous notice. Considering that the Company was organize d on March 31 2007, the information presented herein is for comparison purposes
only, on a proforma unaudited basis, relative to the first three months of 2007, as if the Company had been organized on January 1 2007.
Additionally, information was presented on an adjusted basis, in order to reflect the payment of taxes on SESES, our largest subsidiary, which
from February 2007, after becoming a for-profit company, will be subject to the applicable taxation rules applied to the remaining legal entities,
except for the exemptions arising out of the PROUNI – University for All Program (“PROUNI”). Information presented for comparison purposes
should not be considered as a basis for calculation of dividends, taxes or for any other corporate purposes.
Visit our Website: www.estacioparticipacoes.com/ir
