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Manila Bulletin devider Business devider The Stock Market devider STI sees 76% profit leap amid student enrollment surge

STI sees 76% profit leap amid student enrollment surge

Published Feb 24, 2025 04:03 am

Tanco-led STI Education Systems Holdings Inc. (STI Holdings), owner of the country's largest network of private schools, reported a 76 percent jump in net income to ₱912.2 million for the six-month period ended December 2024 from ₱517.8 million in the same period of 2023.

In a disclosure to the Philippine Stock Exchange, the firm said its first half performance for fiscal year ending in June 2025 was driven by double-digit enrollment growth as well as increased operating leverage and cost management.

STI said over 138,000 students enrolled across its subsidiaries—STI Education Services Group (STI ESG), STI West Negros University (STI WNU), and iACADEMY—for school year (SY) 2024-2025, a 15 percent increase compared to nearly 120,000 in the previous SY.

STI ESG recorded a 17 percent increase in enrollment, reaching 121,374 students, up from 103,982 in SY 2023-2024, with higher enrollments recorded in both company-owned and franchised schools.

STI West Negros University (STI WNU) in Bacolod City, meanwhile, saw a nine percent increase, reaching 14,503 students, compared to 13,328 in the previous SY.

New student enrollment in programs regulated by the Commission on Higher Education (CHED) rose by seven percent, from 34,274 in SY 2023-2024 to 36,827 in SY 2024-2025, underscoring the growing demand for STI's higher education offerings.

Revenues of the company and its subsidiaries (the Group) for the six-month period stood at ₱2.63 billion, up 34 percent versus ₱1.96 billion from the same period in 2023.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 48 percent to ₱1.38 billion from ₱934.6 million in the previous year. This represents an EBITDA margin of 52 percent, an improvement from 48 percent in the same period of the prior year.

The Group's three-month net income for the period ended Dec. 31, 2024, meanwhile reached ₱649 million, on revenues of ₱1.59 billion, marking 30 percent and 22 percent increases, respectively, versus the same period in 2023.

Its operating income was at ₱710.6 million, up from ₱565.6 million in the same quarter of the previous year, highlighting its improved efficiency and financial strength.

STI Holdings' financial year aligns with its academic calendar, beginning on July 1 and ending on June 30 of the following year. This structure ensures that the company's financial reporting accurately reflects its institutions' operational and academic cycles.

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