Earnings Call Summary | Laureate Education(LAUR.US) Q4 2023 Earnings Conference
Earnings Call Summary | Laureate Education(LAUR.US) Q4 2023 Earnings Conference
The following is a summary of the Laureate Education Inc. (LAUR) Q4 2023 Earnings Call Transcript:
以下是 Laureate Education Inc. (LAUR) 2023 年第四季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Laureate reported Q4 revenue of $409 million and adjusted EBITDA of $131 million.
Year-on-year, Q4's revenue increased by 10%, owed to a 6% growth in total enrollment volume and a favorable price mix, while adjusted EBITDA grew by 28%.
For the entire year, revenue was $1.484 billion, up 11%, and adjusted EBITDA was $419 million, up 15% in constant currency basis, culminating in an adjusted EBITDA margin of 28.2%.
Revenue growth in Mexico for Q4 was 11% compared to the prior year, driving a 40% increase in adjusted EBITDA.
For 2023, revenue growth in Peru rose by 10%, leading to a 5% increase in adjusted EBITDA despite macroeconomic conditions.
Laureate concluded the year with $89 million in cash and $167 million in gross debt.
The EBITDA to unlevered free cash flow conversion for year-end 2023 was 49%.
获奖者报告第四季度收入为4.09亿美元，调整后的息税折旧摊销前利润为1.31亿美元。
第四季度的收入同比增长了10％，这要归因于总入学人数增长6％和有利的价格组合，而调整后的息税折旧摊销前利润增长了28％。
全年收入为14.84亿美元，增长11％，调整后的息税折旧摊销前利润为4.19亿美元，按固定货币计算增长15％，调整后的息税折旧摊销前利润率为28.2％。
墨西哥第四季度的收入与去年同期相比增长了11％，推动调整后的息税折旧摊销前利润增长了40％。
2023年，秘鲁的收入增长了10％，尽管宏观经济状况不佳，但调整后的息税折旧摊销前利润仍增长了5％。
获奖者以8900万美元的现金和1.67亿美元的总债务结束了这一年度。
2023年年底的息税折旧摊销前利润与未偿还自由现金流转换的比例为49％。
Business Progress:
业务进展：
In 2023, annual enrollments rose by 6% and new enrolments by 10%.
The growth strategy to expand margins in Mexico to above 25% is in progress.
Laureate targets an adjusted EBITDA to unlevered free cash flow conversion of approximately 50% in 2024, in line with their 2023 results.
For 2024, total enrollments are expected to range between 467,000 and 473,000 students, reflecting a growth of 4% to 5% from 2023.
Projected revenue for 2024 lies between $1.553 billion to $1.568 billion, indicating a growth of 5% to 6%.
Adjusted EBITDA is estimated to be between $441 million to $451 million.
A new $100 million stock repurchase authorization has been announced.
Further margin expansion is anticipated, driven by Mexico and reduced corporate expenses, despite slight margin decrease in Peru due to pricing pressures.
2023年，年入学人数增长了6％，新入学人数增长了10％。
将墨西哥的利润率扩大到25％以上的增长战略正在进行中。
获奖者的目标是，根据2023年的业绩，调整后的息税折旧摊销前利润到2024年未释放的自由现金流转化率约为50％。
到2024年，总入学人数预计将在46.7万至47.3万名学生之间，比2023年增长4％至5％。
2024年的预计收入在15.53亿美元至15.68亿美元之间，增长了5％至6％。
调整后的息税折旧摊销前利润估计在4.41亿美元至4.51亿美元之间。
一项新的1亿美元股票回购授权已经公布。
尽管由于定价压力，秘鲁的利润率略有下降，但受墨西哥和公司支出减少的推动，预计利润率将进一步扩大。
More details: Laureate Education IR
更多详情： 获奖者教育 IR
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