The following is a summary of the Afya Limited (AFYA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Afya reported Q1 2024 net revenue of R$804 million, a 13% increase.

• The company's Adjusted EBITDA increased by 21% Year-over-Year(YoY) to R$398 million with a margin of 49.5%.

• The Adjusted net income rose to R$251 million, marking a 51% increase from Q1 2023.

• Adjusted Earnings per Share climbed to R$2.74, a 55% YoY increase.

• The company reported strong operating cash flows of R$429 million, a 22% YoY increase, and ended the quarter with a net debt of R$1.577 billion.

Business Progress:

• Afya expanded its operational medical school seats capacity to 3,152 seats with its number of medical school students increasing by 8.6% YoY.

• The company underwent a restructuring effort in its Continuing Education and Medical Practice Solutions segment to align it closer to medical education.

• Afya signed the acquisition of Unidompedro and Faculdade Dom Luiz, adding 300 operating medical seats in Salvador, enhancing their revenue projections.

• Furthermore, with the continued efficiency measures, the company anticipates accelerating top-line growth.

• The company ended Q1 with a cash balance of over R$600 million and will use this and cash generated in Q2 to fund the Unido acquisition.

• Despite uncertainties, the company remains positive about the additional 175-seat program due to favourable medical law precedesnts.

• Delivering robust intake performance in the education sector, the company maintains growth while keeping competition levels similar to previous years, upholding solid brand and company growth.

More details: Afya Ltd IR

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