Thank the is you. 'XX investors.vitru.com.br. be quarter joining the Relations also year slide A full which release Good be here afternoon, Investor website again. to at fourth for for our numbers everyone, of of 'XX. as the and pleasure today's will for call, of us available presentation thanks well with as part our all you in numbers It's the
detailed to this Before X call.So like for which you we start presentation, begin, now effect show of to I'd that let's make to Page right and you on harbor in I'm X, to the now. invite Slide safe is go as going note
the we key for here, highlights show So period. the operational
compared education had segment to year more of we average a as that around later. an bit growth, more semester we was first was in The is in and one of a Also, second talk semester than of XXX,XXX I'm second to of last XX.X% in major in had ticket undergrad undergrad our That education business. students increase it digital increase 'XX. important December the about going a which year, core digital the XX% the the last of
average we semesters this of closed in another, to always think which we a here extended our X.XX, pricing.Also, approach was a financing also finally, migration year, plus And of reduced NASDAQ it say, important the the CDI because reminder, issued The our And in of last advancements as plus and replicates issuance average early while CDI at third let's is cost of BX. from costs. December to reaffirmation of the Just Vitru our the X. was had calendar. we at of terms debt through in duration previous Vitru we debenture debenture rate process debt
give transaction, already the year So the merger And shareholders' through meetings process X minutes.On now. we Vitru called financial about BX in on so XX, we to from These we the place will the which the details that X, meetings will approve indicators weeks will more the a 'XX. Limited. take main few for incorporate April going I'm reverse have of Page
XX%. digital about net increasing with further that, Adjusted up was the led also net cash of full revenue in number. year-on-year. undergrad, full from XX.X% flow even margin up the overall XX% segment the education up And to to the XX% our So with more, revenue in year year, in in flow XX% consolidated conversion operations was The year core the which even increased adjusted XX% from an EBITDA year. cash in rate of XX.X% then
our important generate profit And to is financing BRL our we XXX take this is of shows it a slide lot is income million.On net to that like So that's Page in over last X, I debt and a a even our around the increasing of adjusted have an piece consolidated year. XX% cash finally, reaching approach year, scale. decreasing, execution with our managed that because
from So growing in of operations. a several whole, margin, flow aspects EBITDA as number EBITDA students, cash
the what to intended during throughout X, company. we say, would the Page would over-delivering we what we and do we IPO.On said So on I have growth been, do that
education undergrad digital So business in apart from the also business. segment, the grew in in graduate we the on-campus growth XX.X%
students So are led of students, of a which digital in XXX,XXX XX.X% total base it to courses. all
focused I comps, XX% said, already business. to of into coming December forma we digital UNIASSELVI managed clearly throughout even from are that as we roughly on we And student So the XXXX, grew the base plus Unicesumar here, can tough XX%, see taking 'XX. account grow pro also we in
Page and as between bottom the we annual hubs our growth driver around X, On the of the throughout December important bar in 'XX.So grew can for base. we the was the 'XX So our of terms see revenues X, keep country is maturing the Brazil. and at here most XX% throughout hubs, rate CAGR, and chart Page student in this of growth right December slide, expansion on we
is year-on-year, So than in with here XXX hubs see the left year-on-year important ] X% important of as we our at you quite increase which also XX% by the can the in growth Page the Southeast, Northeast the XX% page now country of of increasing you even the geographical hubs, Southeast.On in show south here of hubs number of the more the [ in the and complementary, footprint already. by also that grew in XX, know the table
of offer said, last number that seen than the here now brands. are be see right we both bottom were only table in with by one brands. with you year, I opened both increased cities them the operate of throughout of XXX opened by we who more part we lot page, partners which can a XX.X%, in here used working brand the as this hubs. So And And to in can the and
XX%. already in overall number up the cities cities X.X%. by which more number of So brands overall by with went than went up we both operate now But of
our ago. I'm is we orientation, client of more bit that on then show showed on execution focus you important synergies. the years This integration about commercial that. a XX, part X quality. And another later.On synergies to we details delivering to is going So you are show now our this to of Page the our slide And
on into another confirmation the And here average grades see ratings X.X the So in Store well. you Play can here Reclame and Store in best App taking which right, are is UNIASSELVI, Unicesumar app and as on Aqui the left, both our account that the market. the
Reclame site confirms As the Aqui client and you months. the service is states last orientation X a of in and that client know, kind
it's ], of the UNIASSELVI, we CIS, concept, new we the one reputation years, the be of for players as mentioned, the and been but than at offer right, Vitru usually the a bar to course numbers courses. country.Page X.X is at know, have have that X And courses. only and we taking are have the the XX. which the chart of in listed chart positioned the model, illustrate in well is an of at aspects to of by infrastructure Education students. the listed the way, that This are We the know, X CI-X information. Group at as from local you which a technological course, players, Those [ regarding that in because, content.As the the most evaluation and institution than few about more such the is is CI-X the of an regulatory CC the It changes as Unicesumar. possible the is level evaluation. the is to in part know, other public allowed not in of [indiscernible], ever X a quality with institutions we show it bar to institutional indicator is you In This to has account these Group distribution academic the of institutions you show the discussed with Vitru the even learning now raise X.X% different score the of which CI-X important This every is of highest is the top the teachers. Minister usually, one left, as quality our makes CI-X MEC's maximum among to increase into slide. It as of the reason
the Vitru So in last average XX% we cycles, regulation, way, as Xx a believe need the when there if stricter evaluated several the which chart, change all which that is here the But the over do of fourth that focus a it see courses, were at well know hybridism change. the evaluation by will we have left.And X we and can don't regarding on meaning is bar as We for quarters we the CC-X, a change. market, you be don't know in as know will what of don't anything good quality, we more is which the quarters.
Vitru scenario, this even may here the we're well and benefit positioned in us. that would be changes showing regulations in So quite
Enem ending for Rede is part has both is one XX users don't which is of on So including Slide the also products, the X XXXX. enem YouTube know and also of blog Rede the for bar, the curso of us, X XX million views Enem gratuito preparation, Rede September Rede followers and almost followers million million content new. and years XX. group X.X Enem. at the better.Slide the Facebook probably and million you Enem, X.X also million which leading sites enem, with we with XX that ago do had in views. And acquired it mentions different higher
intake for to digital in each of So the piece source and we year 'XX. second comparing for undergrad education show business a this digital this in XX, of of is of the tickets us average a second slide, education leads the and last the platform.Page the of of major half nice half brands our very the during details
an the and the this over in achieve the call, saw of of intake first ] I of then Unicesumar. we So and XX% increase last case quite We that the that almost XXXX the previous XX% of of and the than grew in [ by XX%, the XX% a the opportunity we quite the intake year, last higher comp, is the take second and base split strong And grew intake brand previous in the between for to intake, year.In to repositioning grew untapped semesters the comparison rate due the the UNIASSELVI, more tough performance year of especially high second the as of between year, worked which the performance considering benefit half 'XX. in mentioned was cycle UNIASSELVI previous of an the knowing intake in year, a at of year. Unicesumar second annual
over is in a the in CAGR have average of have mentioning clear above before, the the mostly in last so the slightly and in improvement case year, the the UNIASSELVI, our pricing 'XX. is discipline is X%. as our the average the procedures, in the prices the to in years. of been started that a I the pricing period.In XX% and of virtually this kind the grew the discipline market last using now first due 'XX, brands see have last the X increase ticket that tickets semester. adjust noticed to in we reaping the X ticket semester practice of inflation our this about you the UNIASSELVI we throughout tools Unicesumar, evolution we same for over years, are and And of annual on case increase the prices. systems And place between When to rate to and the are the inflation, of So results we This results the implementation that that of best set we Brazil intelligence mentioned of these we
do for the do year. I first in margin granular And in data-oriented as of level went XX.X% the a cycle up mentioned, UNIASSELVI. things And to annual year. students, year.So XX.X% revenue so including quarter way, XX% XX, numbers, until of Net year-on-year. by big by big So we students March to year quarter with up previous current the improvements, as digits and mentioned regarding growing intake the some the are at the by Gross EBITDA used I XX.X% several a compared reaching, in low XX%, had financial tuition more and the growing XX, attracting X approach commercial we increase Page use double at to of these to points this went the numbers. the to from before, of profit increasing by first X.X%, the as margin today,
keep these segment. XX% grew and on segments. year. the first, was of Quarter-on-quarter talk education increase digital let's and by of a the business, business, each about XX% And the which we is core importance. share XX, the undergrad Page in market segment we our On in Now gaining kept in
medical Page business. So here XX, in the remarks our right, some have you you business.On that been on see, about the as market gaining share we know, booming last a can years throughout
As in a tickets high seats above increasing higher of fifth Brazil, in know, XX,XXX, campus now over given maturing. inflation, you this Brazil, quite largest South quality private best BRL with school the and the business, still quality medical
results business for we promising the over So this expect next years.
combination is important So within growth medical believe seats the net complementary students that which education prospects, revenue, Slide inflation, Page courses. segment here revenue presenting today products only segment. business on the fastest to is it Unicesumar, this our XX, continuing tickets courses, business of their grew far growing of growth potential, in business also to a courses. ex growth a we year-on-year And And XX% with throughout our the grew can X% our an and only created show we above the a smallest to on-campus of area. to the the adult continuing net this promising illustrate offer quarter, continuing our illustrate X% because strong graduate by given relevancy comprises the is in of education with we growing the education segment. life.And very this in do prospects This of professional quarter.On one not the health-related this right, XX but that also the business of Medical maturing the the but especially is courses but our so technical This and these
numbers So here. just a few
rates for is school courses around million important and highlight in Brazil, is high players them of around flow which besides college business regulated business Education, flow segment. students fastest-growing undergrad of was authorized and the to more state to that professional new based X also X.X well MEC, as quality in courses. others federal have which larning the is technical the the courses, education post business. in only here at years is offer important this digital of technical Vitru our graduate the for at an level of XX,XXX Brazil. But or graduates, We that the we important a an courses. digital this type level ago, Ministry today such our ago, undergrad but the in in until Brazil million courses X.X have This But in graduates as courses years graduate and Most still on less, X
course is process were accreditation we offer because and technical offer allowed to courses. high-quality we these offer undergrad So to specific courses, there a for each
were So MEC. so granted given quality, we XX.X% far authorized the of seats our by the
over the I So a with this next can be nice EBITDA let contributor you for about the years.So growing, as where show now from. mentioned, over come numbers the and me margin our X.X-point now year,
which at the variations. that you regarding some year-on-year, But have last we to a due numbers been yearly of So the quarters. X.X points because quarterly mentioned they slight over service, increase synergies in of operational intra-year were declined cost is the numbers, to basically had I
but basically in had in third quarter. is the quarter, the We because increase a strong a decrease G&A we the slight For same. had
we a of even a these the of decrease, in for service for by when the the around you net in number is, of G&A, revenue, cost and case stable of way, which service had industry. cost lowest analyze X% the of in case So G&A, of numbers
XX.X%. such a G&A.For optimized numbers, the of look especially revenue percentage group. So quite certain at as a reduction gains and marketing mix maintaining a expenses Page the quite XX. are a off-line revenue, scale and and percentage between of slight yearly a net which of whole was at if more at focused for there lower of in digital The expenses quarterly And given flat lean on were expenses level selling you basically we on net
over was as but right in cash of the XX, at that, year. in of fourth for the reduction PDA of the down are of to strong level, rights, yet quarter PDA a us third starting positive despite we last that last Page believe of so of I very the was not year, For direction.On even do the year amounted points the case the This net collection. is the it quarter PDA income. results for going is the adjusted 'XX, intake 'XX With go XX.X%, to in X.X the terms number in deal
which And acquisition this prepayment the expenses. this in was quarter, This for by December, in income reduction One of quarter, debentures, was was we the X higher sale issue associated when had the same financial an financing X the we we day, of impacted given net Unicesumar. financing increase accounting a in prepaid this things. that which effects, generated expenses, with prepaid we sales in the
fourth lower 'XX the The other fourth income quarter deferred was to the due to effect of of compared 'XX. in taxes quarter
impact of of the the BRL roughly was 'XX 'XX. quarter lower versus So in positive quarter fourth XX fourth the million
you the fourth So as the know, the growth taxes, $XX numbers, quarter stronger this positive the in have taxable throughout of balance year. million important is the over year more was 'XX sheet we is this the than the we even acquisition losses income presenting in our fourth income were Unicesumar in generated deferred of as 'XX.Anyway, an was But it which are quarter time, adjusted in in important, contribution with that in our of case.
billion expenses, right can see 'XX, acquired So financial the in of in we I of the company. May do debentures slide, that mentioned. our we you expenses Unicesumar the of here, issued that on And remember, BRL part the as when the X.X you increase
about the XX% with year.Page 'XX, net even an about the income compared had we BRL last adjusted year in 'XX of of increase to XX. of in increase with expenses last So XXX million
CapEx. of level reducing a and generation flow cash important So
CapEx. went year. down CapEx first, So the throughout
X.X% quarter, on average year last revenue, 'XX. X.X% throughout 'XX, from year fourth reaching X.X% in net of going in down the in So the reaching
by asset-light And way, our in IT given is around and of operation. this systems CapEx related is our to investments technology. relatively So and X/X the learning low,
on few very, it So most is of very and focused little of hard our assets. bit CapEx very technology focused on is
the part the was so in in in a had in way third fourth cash the strong cash This right had smaller the decrease because had On we of a slight the performance of the we flow slide, in the quarter. quarter, we very performance a flow, cost, quarter. same that certain,
of 'XX So between as the we flow X cash chart, XX% well half the as of that's the 'XX. middle operational the in numbers semester half May the here increase why showed And ]in mentioned, in Unicesumar we second the the second years. had we and of a I way, 'XX, acquired [ by
here, capital we working So to year. in are the to positive, apples the apples. comparing environment This managed illustrate half to just that of we say, I'd last is have second
quarter, which to accounts the decrease there December in between mean, increase of are this now our take, compared September 'XX lowest we more example, with accumulated 'XX. for is XX But the had, And days if 'XX, net of at growing revenue we been on short-term to we days receivables ever For in in level were was and compared X.X% and June net in position less, net there receivable days what the 'XX. example, in to in a more revenue in an of a 'XX revenue September our or 'XX XX.X% around XX that yearly previous December, for I basis. was example, we we've compare October or less
in XX%, managed receivable. accounts almost by one to and quarter the X.X% So grow we reduced revenues in
is than So this advanced which itself.So and with Ilumina. Project UniCesumar is in here flow is cash Page integration, expected. Integration XX, called faster advancing is the
of meaning better with expansion to what expenses, see are only of beat I've be that brands have will overtake of next also student new our reduction level. criteria we to higher also retention UniCesumar formed cost practices also the but well.So gains we're cost can year, the the as for engagement, step estimation with lower you will now right, and at This UNIASSELVI commercial through for different impact not harmonization over managed Page on side, in optimization will through the EBITDA synergies.So XX, personal EBITDA the the contracts use the criteria [indiscernible] before, our mentioned products of retention higher And said on on activation on UNIASSELVI. for and scale here the These other result debt time and this students. do. through in PDA and margins courses, expense we of the commercial that levers going the the we that rates, So recognition same as
debt, level is this used Our was this look debt levels. the without way debt BRL X.XX to in banks at net leasing, billion
debt, EBITDA So of ratio adjusted meant over net of BRL a which X.X X.X of billion net in debt December.
in X.X was year in of December. X.X it in X.X So June, last September then and
this that deleveraging plan Unicesumar. aligned when the but we we So with also of And was designed course, doing we financing with with the only And migration new best. mentioned combination of are not all we our that before, draw I had our also debentures also the schedule BX. amortization XX, of from the NASDAQ and average we status to extended these duration Page on the that debt.Finally,
Christmas, which to a got finally, do we the X, Brazil months, as last BX light next finally, category we have then X we will will in period I able receive Vitru as FX long, what it. take whether to we or of and of the then the for will Vitru got able SA mentioned we able meeting, will September a an CVM Novo to year. before, last light SEC from Vitru now, from been from Brazil December last it Friday. the launched the as Vitru ADRs. SEC, Limited meetings green Brazil's from at shareholders just be got Brazil Brazil Vitru to of X in about we to transaction and B And the long was done A shareholders' shares was by the managed from well, effective the And month were shareholder the Vitru was know, week during be accomplish ago, to the X election be green we declared in light in the April then listing. XX the step X to then both on year, which category convert March And choose there call at of place, the So form process, And you but green Limited of Mercado month weeks last
them easier which to of trade at would directly some receive choose be to shares, will So here BX.
them, of for would some the example, example, Some for they to choose in ADRs. small shareholders receive U.S.,
delivery So trading at then we shares securities, do early that will and will expect Mercado. BX potentially we the the place June, of and take ADRs start be able at to Novo
was that it. So
was good set of I questions. think like open results. would I for And it to a now
