Afya Limited Unaudited interim condensed consolidated financial statements March 31, 2022 The accompanying notes are an integral part of the unaudited interim condensed consolidated financial statements. Afya Limited Unaudited interim condensed consolidated statements of financial position As of March 31, 2022, and December 31, 2021 | --- | --- | --- | --- | |-------------------------------------------------------------------|--------|-----------------------|-----------------------| | (In thousands of Brazi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

Call Start: 17:00 January 1, 0000 5:37 PM ET Afya Limited (NASDAQ:AFYA) Q4 2021 Earnings Conference Call March 31, 2022, 5:00 PM ET Company Participants Virgilio Gibbon – Chief Executive Officer Luis Andre Blanco – Chief Financial Officer Renata Costa Couto – Director of Investor Relation Conference Call Participants Marcelo Santos – JPMorgan Vinicius Figueiredo – Itaú BBA Victor Tomito – Goldman Sachs Mauricio Capeda – Credit Suisse Renata Costa Couto Thank you for joining us for AFYA's fourth-quarter in t ...

Afya Limited (NASDAQ:AFYA) Q3 2021 Results Earnings Conference Call November 22, 2021 5:00 PM ET Company Participants Renata Costa Couto - Director of Investor Relations Virgilio Gibbon - Chief Executive Officer Luis Andre Blanco - Chief Financial Officer Conference Call Participants Marcelo Santos - JPMorgan Vinicius Figueiredo - Itau BBA Mauricio Cepeda - Credit Suisse Yan Cesquim - BTG Pactual Vinicius Ribeiro - UBS Renata Costa Couto Good evening everyone. Thank you for joining us for Afya's third quart ...

Financial Data and Key Metrics Changes - Adjusted net revenue increased by 39% year-over-year, reaching R$382 million [8][17] - Adjusted EBITDA rose by 36% year-over-year to R$161 million, with an adjusted EBITDA margin of 42% [8][17] - Cash position stood at R$1.4 billion, reflecting a strong cash generation and a cash conversion rate of 104%, up 21 percentage points from the previous year [8][17] Business Line Data and Key Metrics Changes - Undergrad medical student enrollment grew by 47% year-over-year, reaching 13,400 students [9][20] - Average medical school tuition increased by over 5%, reaching R$8,598 [20] - Continuing education net revenues decreased by 33%, driven by a 27% lower student base [21] - Digital services reported a strong increase of 89% in net revenue, with active paying users reaching 148,000 [22] Market Data and Key Metrics Changes - The digital ecosystem reached 232,000 monthly active users, representing almost 40% of the Brazilian physician market [9][22] - The average monthly medical tuition fees derived from medical school increased to 80% of total tuition fees, up from 73% in the previous year [20] Company Strategy and Development Direction - The company focuses on M&A as a primary growth driver, successfully integrating acquisitions to enhance margins [10][11] - Plans to acquire at least 200 medical school seats per year starting in 2022, with a strong pipeline for future acquisitions [11] - The digital business strategy includes expanding product offerings across six pillars, with a focus on telemedicine and digital prescriptions [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving similar top-line growth in the second half of the year as seen in the first half [35] - Anticipated recovery in continuing medical education demand post-COVID, with new intakes expected to drive growth [36][66] - Management acknowledged the impact of inflation but plans to adjust tuition fees accordingly while embedding digital services into the curriculum [59] Other Important Information - The company released its annual sustainability report, committing to gender equality and establishing a Compensation and ESG Committee [14][15] - The company aims to achieve a 50% margin for new acquisitions within two years through synergies [32] Q&A Session Summary Question: What is the profitability of UNIFIPMoc? - Management indicated that UNIFIPMoc's performance aligns with expectations, operating at around 20%-25% EBITDA margin [27][28] Question: What are the growth perspectives for digital services and continuing education? - Management expects growth in digital services to continue, with a recovery in continuing education anticipated after October [35][36] Question: How will inflation affect pricing strategies? - The company plans to increase tuition fees above inflation, leveraging added value from digital services [59] Question: What is the margin comparison between digital services and medical education? - Digital services are expected to have lower margins than medical education, with a focus on increasing penetration and scale [51][52] Question: What is the status of the MVP for pharma? - The MVP projects are in early stages, focusing on market research rather than clinical research [54][56]