SEB Announces Growth of 33% in Net Revenue and 34% in Adjusted EBITDA in 2009
SAO PAULO, March 15 /PRNewswire-FirstCall/ -- SEB - Sistema Educacional Brasileiro S.A. (Bovespa: SEBB11; Bloomberg: SEBB11.BZ; REUTERS: SEBB11.SA) - announces today its results for the fourth quarter and the full year of 2009.
SEB registered net revenue growth of 32.9%, with a significant 101.3% increase in Distance Learning revenue, solid growth of 37.1% growth in K-12 education revenue and 25.6% in Learning System revenue.
These growth figures reflect not only the significant organic growth of our operations, but also the important acquisitions made throughout the year, which are part of our strategic growth plan.
Adjusted EBITDA in the year increased by 34.3% to R$63.9 million in 2009, resulting in EBITDA margin growth from 16.5% in 2008 to 16.7% in 2009. In 4Q09, Adjusted EBITDA totaled R$4.7 million, against a R$0.7 million loss in 4Q08.
In 2009, Adjusted Net Income reached R$53.0 million, up by 14.1% over 2008. Total General and Administrative expenses (G&A) fell to R$53.7 million in 2009, 7.0% down. Considering only Recurring G&A, these figures fell to R$52.0 million in 2009, representing a 7.0% decline in absolute terms. As a percentage of Net Revenue, Recurring G&A fell from 19.4% in 2008 to 13.5% in 2009, representing a 5.8 p.p. evolution in relation to Net Revenues.
Two of the seven acquisitions concluded in 2009 are strategically important: (i) the acquisition of Pueri Domus adds a renowned on-campus K-12 education operation in Brazil's leading education market - the Sao Paulo metropolitan region, and a learning system that is, in many ways, complementary to the COC and Dom Bosco brands, thus contributing to a better portfolio of learning systems; and (ii) Praetorium, which is our platform for expansion in the preparatory courses for civil service and bar exams segment, mainly through Distance Learning.
For further information please contact SEB's Investor Relations team or access the Company website at www.sebsa.com.br.
Investor Relations |
|
Marco Rossi |
|
CFO & IRO |
|
Phone: +55 (16) 3603-9646 |
|
Francisco Bianchi |
|
IR Manager |
|
Phone: +55 (11) 3506-7032 |
|
SOURCE Sistema Educacional Brasileiro S.A.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article