Thank you, Eilif.
campus education business. a based is As reminder, a higher seasonal
more two our our for the periods, The of intake new third largest which activity XX% total for first than and quarters enrollment year. represent account
for low the enrollment higher large seasonally generate classes From adjusted out intake periods of periods fourth most year. EBITDA are are In and are second of session not revenue and both months. but a the perspective, those for quarters P&L contrast, as
with start financial which the XX, Let's highlights quarter. our and operating page performance for first
to continued just macroeconomic demand despite challenging cycle intake and the in During conditions. we pricing the see resiliency completed,
respectively, and increased all strong with across year total in markets compared both X%, and enrollment to quarter, growth when brands. XX% and the five enrollment New prior
pricing was In addition for volume line to growth, strong our with expectations. in intake the
cover in markets expense inflation both cost recognized realized structure. in pricing our to was Specifically, on of line our
guidance metrics months ago. and $XXX $XX timing EBITDA higher by we volumes as results. driven items. was Both the low now adjusted move Let's was the on some million, three and financial adjusted to million. outperformance seasonally in was provided well of ahead enrollment Revenue as the quarter Revenue EBITDA new first were
basis, revenue an campus for due up Adjusted offset first organic return X% EBITDA fixed and revenue efficiencies, up largely to constant year-over-year. for On by first quarter flow-through the during partially XX% was quarter. to out-of-session and quarter the was expenses currency cost costs a
and comparisons now organic basis. on some the constant note all are additional provide prior me and Let Please quarter color Mexico performance of an on currency page that starting year XX. with versus Peru,
with start Let's Mexico.
occurs a Hemispheric Northern follows and The represents smaller first each secondary calendar. for quarter September Mexico. the intake Their large intake
year XX%. realized across campus-based growth versus as programs. well During across brands were to last favorable quarter. both first quarter the X% of the double-digit enrollments robust as intake up first our We quarter, both Mexico's during new as first primary fall fully the increased online and saw well new enrollments due prior as the enrollments Total the
first up EBITDA the to costs to productivity to for revenue the campuses. quarter our year-over-year XX% gains XX% the period year first for Mexico's at more increased due value growth. was return face-to-face prior for than quarter increased compared operations with Adjusted a strong offsetting
slide now Let's Peru on to XX. transition
the are a primary The they intake Hemispheric as Peru institution. Southern first for quarter represents
increased enrollments XX%, During Peru's growth. quarter, contributing new with three the double-digit brands all
the year-over-year. of first students of from increased first year. X% out stepped catching Please up quarter Peru's that of year classes the level versus a low prior during the first for revenue prior COVID with their who note seasonally high quarter the study. summer were benefited enrollments X% Total quarter were as up
largely return million for due face-to-face to Adjusted EBITDA our of to summer out-of-session at increased loss costs higher during $X for a the primarily a campuses period. and quarter costs was operation fixed
briefly net $XXX Laureate with Let debt $XXX position debt of our ended million. now me in sheet a balance and discuss position. cash $XXX for gross in million March million
balance than X.X less of sheet position strong Our net equates turn leverage. to
for to on on starting our Moving improved outlook page XX. XXXX,
and adjusted increasing the currency We more to EBITDA favorable for overall rates. range reflect guidance are revenue
also the result low first basis constant EBITDA a our the million raising for currency a on by are results. adjusted for and as end intake of of million quarter We $X revenue $XX strong range
organic XX% to full million results students, basis to versus versus on year $XXX $X.XXX in of be to growth billion, on range currency billion constant XX% basis growth XXXX rates, to now now on an XXXX, XX% of an and $X.XXX organic Based an to on continue million, as to spot constant XXX,XXX XXXX, follows. of now XXXX. versus be basis of as-reported to adjusted reflecting in X% be current to reflecting enrollment XX% XX% EBITDA to as-reported XX% basis XX% Total X% X% of the XXX,XXX and FX an to range to currency the we to revenues on of in to range growth be $XXX the reflecting expect
anticipated drivers flow of XXX reduction Mexico improvement which guidance. impact an further drivers those return-to-campus We effect corporate in of increased material the the improvement is margin expenses, expenses. EBITDA annualization final primarily of revenue are main points half are and margin in first our our growth, volume The Partially XXXX. initiatives will efficiency midpoint maintaining our of the adjusted offsetting basis at of from
improvement are expenses. once of those in the the half result, we a As to year lap second in the net return-to-campus XXXX margin expected realized be
growth free aided continued Additionally, improvement for low EBITDA XXXX, be by expect continue cash margin in to conversion our flow capital-light to unlevered range, to we adjusted mid-XX% to the and model.
to are two to important year regarding Finally, attention. call that XXXX for want your full there points our I guidance, seasonality
is XXXX second half year-over-year First revenue half regarding first first for versus growth half second anticipate growth the revenue expectations. a similar and we Peru, half the In rate. of
higher COVID second was strong well half. enrollment for revenue, we graduation intake from be fee. including driven however, new revenue aided step-outs students the by partially year's XXXX of Mexico, growth last the anticipate that This than as primary timing returning other as first In to is half for very by
a and We for more XXXX. normal in half pattern expect first Mexico to growth second see
weighting call, flow in seasonality during earnings will discussed our our we capital in towards as the what year experienced seasonality payments to the timing XXXX with of differ heavier XXXX first the second of prior in due expenditures. tax from Lastly, half quarter of a the the cash and
quarter the Now to second moving guidance.
to the we impact the EBITDA be to For XXXX, final range million, $XXX material includes expenses. adjusted of which to annualization million in of in revenue the to million, $XXX expect return-to-campus million $XXX quarter range from the $XXX of be second
closing for Eilif you back comments. remarks. am it prepared my concludes to That handing I
