Bright Scholar(BEDU) - 2020 Q1 - Earnings Call Presentation

Financial Performance - Bright Scholar's F1Q'20 revenue grew by 69% year-over-year, reaching RMB 1,098 million, compared to RMB 649.9 million in F1Q'19[13] - Adjusted EBITDA increased by 62.1% year-over-year, reaching RMB 352.5 million in F1Q'20, compared to RMB 217.4 million in F1Q'19[13] - Adjusted net income increased by 34.5% to RMB 225.4 million, compared to RMB 167.5 million in F1Q'19[49] - The company reaffirms its FY2020 revenue guidance to be between RMB 4 billion and RMB 41 billion, representing a year-over-year increase of 56% to 60%[90] Business Segments - Domestic K-12 schools revenue increased by 21.7% to RMB 669.7 million in F1Q'20, with a gross profit margin of 48.5%[52] - Complementary education revenue increased by 69.7% to RMB 169.1 million in F1Q'20, with a gross profit margin of 38.6%[52] - Overseas schools revenue was RMB 259.2 million in F1Q'20, with a gross profit margin of 32.2%[52] Operational Highlights - Average student enrollment in domestic K-12 schools increased by 18.6% year-over-year, reaching 10,662 in F1Q'20[56] - The company has operating contracts covering 53 kindergartens, 6 bilingual schools, and 1 international school, with a total capacity of approximately 29,800 students[63] - Approximately 57.1% of students in the 2020 graduating class of Bright Scholar's international schools have received over 310 offers from global top 50 institutions as of December 19, 2019[60] Strategic Initiatives - Bright Scholar is focusing on operational performance and cost synergies, with adjusted SG&A expenses at 18.2% of total revenue in F1Q'20[48, 77] - The company is integrating acquisitions and exploring China(N)+Overseas(X) programs to broaden service offerings and expand scale[37] - Bright Scholar expects enrollment between 53,200 and 53,600 students, a year-over-year increase of 14% to 15%[91]