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 年第四季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
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%.
獲獎者報告第四季度收入爲4.09億美元，調整後的息稅折舊攤銷前利潤爲1.31億美元。
第四季度的收入同比增長了10％，這要歸因於總入學人數增長6％和有利的價格組合，而調整後的息稅折舊攤銷前利潤增長了28％。
全年收入爲14.84億美元，增長11％，調整後的息稅折舊攤銷前利潤爲4.19億美元，按固定貨幣計算增長15％，調整後的息稅折舊攤銷前利潤率爲28.2％。
墨西哥第四季度的收入與去年同期相比增長了11％，推動調整後的息稅折舊攤銷前利潤增長了40％。
2023年，秘魯的收入增長了10％，儘管宏觀經濟狀況不佳，但調整後的息稅折舊攤銷前利潤仍增長了5％。
獲獎者以8900萬美元的現金和1.67億美元的總債務結束了這一年度。
2023年年底的息稅折舊攤銷前利潤與未償還自由現金流轉換的比例爲49％。
Business Progress:
業務進展：
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，年入學人數增長了6％，新入學人數增長了10％。
將墨西哥的利潤率擴大到25％以上的增長戰略正在進行中。
獲獎者的目標是，根據2023年的業績，調整後的息稅折舊攤銷前利潤到2024年未釋放的自由現金流轉化率約爲50％。
到2024年，總入學人數預計將在46.7萬至47.3萬名學生之間，比2023年增長4％至5％。
2024年的預計收入在15.53億美元至15.68億美元之間，增長了5％至6％。
調整後的息稅折舊攤銷前利潤估計在4.41億美元至4.51億美元之間。
一項新的1億美元股票回購授權已經公佈。
儘管由於定價壓力，秘魯的利潤率略有下降，但受墨西哥和公司支出減少的推動，預計利潤率將進一步擴大。
More details: Laureate Education IR
更多詳情： 獲獎者教育 IR
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