Will IDP Education (ASX: IEL) shares bounce back from recent correction?

4 min read | January 24, 2024 11:12 AM AEDT | By Team Kalkine Media

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Will IDP Education (ASX: IEL) shares bounce back from recent correction? — Image source: pogonici,Shutterstock

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Highlights

IDP Education is a global education service providing company, listed on ASX under the ticker IEL

In FY23, the company reported 24% YoY increase in revenue to AUD 982 million

Bennelong Australian Equity Partners has the maximum stake in the company with a shareholding of nearly 8.46%

IDP Education Limited (ASX:IEL) is an international education services provider. The ASX-listed firm operates in over 50 countries.

The AUD 6.14 billion-market-cap company delivered significant financial and operational results in the financial year 2023 (FY23). During the reported period, the company registered 24% YoY growth in revenue to AUD 982 million, backed by a 63% YoY increase in student placement revenue.

The period saw a 40% YoY increase in adjusted EBIT to AUD 228 million and 45% YoY rise in adjusted NPAT to AUD 154 million.

Top 10 shareholders of IEL

The top 10 shareholders of IEL have around 45.65% shareholding in the company. The top two shareholders of IEL are Bennelong Australian Equity Partners Pty. Ltd. and Challenger Managed Investments Ltd., with a shareholding of 8.46% and 7.38%, respectively.

Growth opportunities

In FY23, the company expanded through acquisition of two key companies, Intake Education and the Ambassador Platform. Intake education is an international education organization and The Ambassador is a student collaborative platform which is based in the UK.

The acquisition of Intake has expanded the presence of IEL by opening further offices across Vietnam, India, Nigeria, Pakistan, Thailand and the Philippines.

The focus is on offering students exceptional and unique experiences through utilizing a combination of physical and digital approaches. The goods and services of IEL are build using data that satisfy customer needs and increases productivity. Effective usage of technology has enhanced the efficiency and experience of handling over 60% of applications.

The company strives to mold the future by transforming the industry for the advantage of clients, customers and team equally. IDP is a leader in the industry and has substantial influence on the future of international education.

Share performance of IEL

IEL shares closed 3.13% down at AUD 20.12 apiece on 24 January 2024. With this, in the last one year, IEL’s share price has declined by 34.01% and in past six months, it has dropped by 15.85%.

The 52-week high of IEL is AUD 32.17, recorded on 3 February 2023, and the 52-week low is AUD 19.4, recorded on 18 December 2023.

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 24 January 2024. The reference data in this report has been partly sourced from EODHD/Others.

Disclaimer

This article has been prepared by Kalkine Media, echoed on the website kalkinemedia.com/au and associated pages, based on the information obtained and collated from the subscription reports prepared by Kalkine Pty. Ltd. [ABN 34 154 808 312; AFSL no. 425376] on Kalkine.com.au (and associated pages). The principal purpose of the content is to provide factual information only for educational purposes. None of the content in this article, including any news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video is or is intended to be, advisory in nature. The content does not contain or imply any recommendation or opinion intended to influence your financial decisions, including but not limited to, in respect of any particular security, transaction, or investment strategy, and must not be relied upon by you as such. The content is provided without any express or implied warranties of any kind. Kalkine Media, and its related bodies corporate, agents, and employees (Kalkine Group) cannot and do not warrant the accuracy, completeness, timeliness, merchantability, or fitness for a particular purpose of the content or the website, and to the extent permitted by law, Kalkine Group hereby disclaims any and all such express or implied warranties. Kalkine Group shall NOT be held liable for any investment or trading losses you may incur by using the information shared on our website.

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