Stadio (SDO) Results Snapshot FY21

Diluted HEPS increased by 301.2% y-y to 17.1cps. Revenue growth of +17.7% y-y to R1 098m. Big improvement in EBITDA margins, increasing from 4.9% to 28.2%. Expenses to sales improved from 95.5% to 71.8%. Savings realised due to aletered teaching and learning practices during COVID-19. Dividend payments resumed with 4.7cps dividend declared. Anualised number of students increased to 36 378 students (+10.1%).