Wrap Text
CANCELLATION OF S502405 Audited Results For The Year Ended 31 December 2024 And Dividend Declaration
STADIO HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2016/371398/06)
Share code: SDO
ISIN: ZAE000248662
LEI: 3789007C8FB26515D966
("STADIO Holdings" or "the Company" or "STADIO Group")
AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2024 AND DIVIDEND
DECLARATION
SALIENT FEATURES
For the year ended 31 December 2024, the following changes from the prior corresponding
period, are reported:
• Revenue increased from R1.4 billion to R1.6 billion (14%)
• Student numbers in Semester 1 increased from 42 874 to 47 024 (10%)
• Student numbers in Semester 2 increased from 46 508 to 50 039 (8%)
• Earnings before interest, taxation, depreciation, and amortisation ("EBITDA") increased
from R391 million to R458 million (17%)
• Profit after tax increased from R236 million to R276 million (17%)
• Core headline earnings** increased from R209 million to R267 million (28%)
• Earnings per share ("EPS") increased from 24.5 cents per share ("cps") to 30.9 cps (26%)
• Headline earnings per share ("HEPS") increased from 24.5 cps to 31.4 cps (28%)
• Core headline earnings per share ("Core HEPS") increased from 24.6 cps to 31.5cps (28%)
• Net asset value per share increased from 212 cps to 231 cps (9%)
• Gross final dividend per share increased from 10.0 cps to 15.1 cps (51%)
** The STADIO Group utilises core headline earnings to measure and benchmark the
underlying performance of the business. Core headline earnings represents headline
earnings adjusted for certain non-recurring items that, in the Board's view, may distort the
financial results from period to period.
COMMENTARY
The STADIO Holdings' board of directors ("Board") takes pleasure in reporting an impressive set of
results for the year ended 31 December 2024, showcasing strong financial performance and robust
cash generation, positioning itself well for expansion with the construction of the new comprehensive
Durbanville campus.
The STADIO Group grew Revenue by 14% from R1.4 billion to R1.6 billion, driven by an 8% growth
on student numbers with a notable increase in new contact learning students at STADIO Higher
Education.
Profit attributable to the parent was positively impacted by the additional 15.4% shareholding
acquired in Milpark Education, substantively effective 31 December 2023. Non-controlling interest in
Milpark Education reduced from 31.5% in 2023 to 16.14% in 2024.
Furthermore, Core headline earnings grew by an impressive 28% from R209 million to R267 million.
Looking forward we are on track to reach our pre-listing forecast of 56 000 students by 2026 and
believe we can reach 80 000 students by 2030.
DIVIDEND DECLARATION
The Board is pleased to declare a gross final dividend of 15.1 cents (2023: 10.0 cents) per ordinary
share from income reserves for the year ended 31 December 2024. This constitutes 48% of CHEPS
and represents excess cash available, after considering capital available for growth opportunities.
The Board has adopted a policy of declaring and paying dividends on an annual basis based on
excess free-cash flow available, after considering the capital needs for future growth projects.
The dividend amount, net of South African dividends tax of 20%, is 12.08 cents (2023: 8.00 cents)
per ordinary share.
The number of ordinary shares in issue at the declaration date is 848 300 306, and the income tax
number of the Company is 965/093/41/60. The total gross final dividend amount payable is
R128 million.
The salient dates for this dividend distribution are:
Last day to trade cum dividend Tuesday, 22 April 2025
Trading ex-dividend commences Wednesday, 23 April 2025
Record date Friday, 25 April 2025
Payment date Tuesday, 29 April 2025
Share certificates may not be dematerialised or re-materialised between Wednesday, 23 April 2025
and Friday, 25 April 2025, both days inclusive.
SHORT- FORM ANNOUNCEMENT
This short-form announcement is the responsibility of the directors of the Company. It contains only
a summary of the information found in the detailed annual results announcement for the year ended
31 December 2024 ("Full Announcement") and does not contain full or complete details.
The Full Announcement can be found on the JSE cloudlink at:
https://senspdf.jse.co.za/documents/2025/JSE/ISSE/SDOE/Final_24.pdf
A copy of the Full Announcement is also available for viewing on the Company's website at
www.stadio.co.za/recent-reports/.
Any investment decisions by investors and/or shareholders should be based on consideration of the
Full Announcement, as a whole.
The annual financial statements for the year ended 31 December 2024 have been audited by the
Company's auditors, PricewaterhouseCoopers Inc., who expressed an unmodified audit opinion
thereon. The audit opinion is available, along with the annual financial statements, on the Company's
website at https://www.stadio.co.za/recent-reports.
PRESENTATION
STADIO Holdings will be hosting a virtual presentation on Monday, 24 March 2025, at 10:00 SAST
to present the results to investors.
Shareholders and investors are invited to join Mr Chris Vorster (CEO) and Mr Ishak Kula (CFO) at
the virtual results presentation on Monday, 24 March 2025, at 10:00 am SAST. Please register to
attend the presentation ahead of time by clicking on the following link:
https://attendee.gotowebinar.com/register/5382635429753402201.
Participants will be able to download the results as well as the slides from the portal during the
presentation. Participants can send through questions using the portal, during and after the
presentation, or by emailing any questions to investorrelations@stadio.co.za before or after the
presentation.
Durbanville
24 March 2025
Sponsor
PSG Capital
Date: 24-03-2025 11:59:59
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