ADvTECH (ADH) FY22 Results Snapshot

Diluted HEPS up +20.5% y-y to 145.0cps (LY: 120.3cps). Turnover increased by +17.6% y-y to R6 961m (LY: R5 917m). OPM increased to 19.1% (LY:18.7%). Expenses increased by +17.0% y-y to R5 628m (LY: R4 809m). Expense to sales decreased to 80.9% (LY:81.3%). Final dividend of 37.0cps declared. Cash generated from operating activities up +12.3% y-y to R1 260m (LY: R1 178m). Enrolments for Advtech schools up +8.6% to 36 802 enrolments for the year (LY: 33 903 enrolments). Enrolments for Advtech tertiary institutions up +4.1% to 47 539 enrolments for the year (LY: 45 647 enrolments).