Afya Limited. (NASDAQ:AFYA) Q4 2023 Earnings Conference Call March 14, 2024 5:00 PM ET Company Participants Renata Couto - IR Executive Manger Virgilio Gibbon - CEO Luis Blanco - CFO Conference Call Participants Mirela Oliveira - Bank of America Jessica Meller - JPMorgan Lucas Nagano - Morgan Stanley Lucca Marquezini - Itau Operator Good night [sic] everyone and thank you for joining us for Afya's Fourth Quarter and Full Year 2023 Conference Call. Today, I'm here with Afya's CEO, Virgilio Gibbon; and Luis A ...

NOVA LIMA, Brazil--(BUSINESS WIRE)--Afya Limited (Nasdaq: AFYA; B3: A2FY34) (“Afya” or the “Company”), the leading medical education group and digital health services provider in Brazil, reported today financial and operating results for the fourth quarter and full-year period ended December 31, 2023. Financial results are expressed in Brazilian Reais and are presented in accordance with International Financial Reporting Standards (IFRS). Fourth Quarter 2023 Highlights 4Q23 Adjusted Net Revenue increas ...

Afya Limited Consolidated financial statements as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 Report of Independent Registered Public Accounting Firm To the Shareholders and the Board of Directors of Afya Limited Opinion on the Financial Statements We have audited the accompanying consolidated statements of financial position of Afya Limited (the Company) as of December 31, 2023 and 2022, the related consolidated statements of income and comprehensive income, chang ...

Company Performance - Afya (AFYA) closed at $20.74, reflecting a +1.52% change from the previous session, outperforming the S&P 500's daily gain of 1.12% [1] - Over the past month, Afya's shares have decreased by 2.81%, while the Consumer Discretionary sector and S&P 500 gained 1.03% and 2.06%, respectively [1] - Afya is projected to report earnings of $0.34 per share, indicating a year-over-year growth of 30.77%, with revenue estimates at $141.83 million, representing a 27.8% increase compared to the same quarter last year [1] Analyst Forecasts - Recent revisions to analyst forecasts for Afya are important as they reflect short-term business trends, with positive revisions indicating a favorable business outlook [2] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently ranks Afya at 3 (Hold), with the consensus EPS estimate remaining stagnant over the past month [2] Valuation Metrics - Afya is trading at a Forward P/E ratio of 13.32, which is below the industry average Forward P/E of 18.35 [3] - The company has a PEG ratio of 0.76, compared to the Schools industry's average PEG ratio of 1.16 [3] - The Schools industry, part of the Consumer Discretionary sector, holds a Zacks Industry Rank of 22, placing it in the top 9% of over 250 industries [3]

The latest trading session saw Afya (AFYA) ending at $21.02, denoting a +0.57% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 0.3%.Prior to today's trading, shares of the medical education company had lost 0.99% over the past month. This has lagged the Consumer Discretionary sector's gain of 3.76% and the S&P 500's gain of 5.78% in that time.Analysts and investors alike will be keeping a clo ...

In the latest market close, Afya (AFYA) reached $20.44, with a +1.79% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.32%. Elsewhere, the Dow saw a downswing of 0.71%, while the tech-heavy Nasdaq depreciated by 0.2%.Heading into today, shares of the medical education company had lost 3.6% over the past month, lagging the Consumer Discretionary sector's gain of 2.23% and the S&P 500's gain of 4.59% in that time.Market participants will be closely ...

Core Insights - Afya Limited has received authorization to increase medical seats at Faculdades Integradas Padrão (FIP Guanambi) by 40, resulting in a total of 100 medical seats at this campus and 3,203 approved seats overall [1][2] - The additional payment associated with this increase is R$49.6 million, indicating a significant financial impact for the company [1] Company Overview - Afya Limited is recognized as a leading medical education group in Brazil, focusing on the number of medical school seats and providing a comprehensive ecosystem for medical students and physicians [2] - The company offers a range of services from medical residency preparation to continuing medical education, along with digital products aimed at enhancing healthcare services throughout a physician's career [2]

Afya Limited (NASDAQ:AFYA) Q3 2023 Earnings Conference Call November 13, 2023 5:00 PM ET Company Participants Renata Couto - IR Executive Manger Virgilio Gibbon - CEO Luis Blanco - CFO Conference Call Participants Lucas Nagano - Morgan Stanley Marcelo Santos - JPMorgan Lucca Marquezini - Itau BBA Renata Couto Thank you for joining us for Afya's Third Quarter 2023 Conference Call. Today, I'm here with Afya's CEO, Virgilio Gibbon; and Luis Andre Blanco, our CFO. During this presentation, our executives will m ...

Afya Limited Unaudited interim condensed consolidated financial statements September 30, 2023 Afya Limited Unaudited interim condensed consolidated statements of financial position As of September 30, 2023, and December 31, 2022 (In thousands of Brazilian reais) | | Notes | September 30, 2023 | December 31, 2022 | | --- | --- | --- | --- | | Assets | | (unaudited) | | | Current assets | | | | | Cash and cash equivalents | 5 | 822,008 | 1,093,082 | | Trade receivables | 6 | 480,556 | 452,831 | | Inventories ...

Financial Data and Key Metrics Changes - Adjusted net revenue increased by 24% year-over-year, reaching R$712 million [8][19] - Adjusted EBITDA grew by more than 22%, reaching R$268 million with a margin of 38% [8][20] - Record cash flow from operating activities was R$566 million, an increase of 26% year-over-year, with a cash conversion rate of 99% [8][21] - Adjusted net income was R$132 million, an 11% growth year-over-year, with an EPS of R$1.42, representing a growth of 12% [8][22] Business Line Data and Key Metrics Changes - Undergrad segment saw an 18% growth in the number of medical students, reaching almost 21,000 [9][23] - Continuing Education segment reported a strong net revenue growth of 50% year-over-year [9][24] - Digital Health Services segment ended the quarter with a revenue increase of 28% year-over-year [9][26] Market Data and Key Metrics Changes - The ecosystem reached almost 282,000 active users, a growth of 6% year-over-year, representing around 34% of the Brazilian physicians and medical students market [10][25] - The number of operating seats increased by over 25% year-over-year, reaching 3,113 [9][23] Company Strategy and Development Direction - The company aims to grow its Undergrad segment by maturing existing seats, organic growth, and acquisitions, targeting over 32,000 students by 2028 [16] - Continuing Education is expected to reach R$440 million in net revenue by 2028, 4x higher than 2022 [17] - Digital Services aims for a net revenue of $1.2 billion by 2028, focusing on B2B and B2P business acquisitions [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience and ability to deliver solid results with high predictability [12][14] - The company is focused on integrating new acquisitions and enhancing operational leverage across all segments [20][32] Other Important Information - The company received three significant awards in the second quarter, highlighting its performance in innovation and education [14] - The new brand strategy aims to consolidate the value under a single brand to enhance recognition and engagement [15] Q&A Session Summary Question: Impact of adjusted EBITDA margin due to revenue mix and integration of UNIT - Management confirmed that integration of UNIT is expected to occur in Q4, and noted that Medcel's performance is less relevant in Q2 and Q3 due to revenue concentration in other quarters [30][31] Question: Expectations for medical seat requests and FG-FIES impact - Management indicated that it is too early to assess the impact of new seat requests and confirmed that the expected impact of FG-FIES for the year is R$24 million, evenly distributed across the first and second halves [34][39] Question: Outlook for FG-FIES contribution in 2024 - Management stated that it is difficult to predict the impact for 2024 but expects a reduction in retention rates for medical programs due to lower delinquency rates [40][42] Question: Mitigation strategies for FG-FIES effects - Management highlighted that the delinquency rates for medical programs are much lower than for non-medical programs and discussed ongoing efforts to propose amendments to limit retention rates [44][46]