AUS
NZ
UK
CA
USA
IND
Highlights
- IDP Education is engaged in the placement of international students in the educational institutes
- In FY23, IEL’s revenue grew by 23.8% YoY to AUD 981.92 million
- In 1HFY24, EBITDA jumped 20% YoY to AUD 173.3 million
IDP Education Limited (ASX:IEL) is a professional and business firm which is engaged in the placement of international students in the educational institutions across Ireland, New Zealand, Canada, the US, the UK and Australia.
In the financial year 2023 (FY23), the company reported 23.8% YoY growth in its revenue to AUD 981.92 million, 38.5% YoY increase in EBITDA to AUD 280.47 million and 44.8% YoY surge in net income to AUD 148.52 million. The period saw a 172.4% increase in net debt to AUD 162.94 million.
Key financial metrics of 1HFY24
In 1HFY24, the company registered more than 15% YoY increase in its revenue to AUD 579.1 million, backed by increased prices across all products and services and student placement volumes. During the reported period, the company witnessed an over 20% YoY increase in EBITDA to reach AUD 173.3 million, supported by topline growth. Net profit during the period grew by more than 19% YoY to AUD 97.4 million.
IEL expands its presence
The company has finalised the integration of Intake Education in seven countries, 27 offices and over 300 employees. The company has launched 11 new student placement offices across key high growth markets, widening its international presence.
The US client base of IEL expanded with 11 new universities and colleges. Moreover, the adoption of fast lanes has surged with more than 5,200 courses now available on the platform.
Outlook
IEL’s focus is on shaping the future by enhancing the industry for the benefits of all clients, teams and customers alike. As a leader, the company acknowledges the fact that it has a considerable impact on the direction of international education.
Share performance of IEL
IEL shares closed 2.66% higher at AUD 19.7 apiece on 13 March 2024. Including today’s gain, IEL’s share price has dropped by 29.67% in the past one year and has recorded a fall of 18.70% in the last six months.
The 52-week high of IEL is AUD 29.26, recorded on 26 April 2023, while the 52-week low is AUD 18.08, recorded on 28 February 2024.
IEL Daily Technical Chart, Source: EODHD/Others
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 13 March 2024. The reference data in this report has been partly sourced from EODHD/Others.
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