2024-11-25
MANILA â STI Education Systems Holdings, Inc. (STI Holdings), the largest network of private schools in the Philippines, reported a net income of ₱263.2 million for the three-month period ended September 30, 2024, marking an impressive 1,233% increase year-on-year.
The company attributed the surge to the significant growth in enrollments this academic year, alongside improvements in operational efficiency, effective cost management initiatives, and sustainability investments.
In its quarterly disclosure to the Philippine Stock Exchange filed Tuesday, STI Holdings also reported a substantial increase in gross profit, which rose from ₱377.7 million to ₱706.2 million for the three-month periods ended September 30, 2023, and 2024, respectively. This represents an improvement in gross profit margins from 58% to 68%.
Total revenues reached ₱1 billion for the three-month period ended September 30, 2024, which is ₱387.1 million or 60% higher than the ₱650.6 million generated during the same period last year. The revenue surge was largely driven by the 15% increase in total enrollment and an earlier start of classes for School Year (SY) 2024-2025..
STI Holdings' total asset value stood at ₱17.52 billion as of September 30, 2024, reflecting a 14% or ₱2.08 billion increase from the ₱15.44 billion recorded as of June 30, 2024. The growth was attributed to the rise in receivables arising from current enrollment and continued investments in property and equipment.
The company said the growth achieved during the quarter reflects its unwavering commitment to operational excellence and its mission to deliver quality education. It noted that its strong market position stems from the successful integration of strategic initiatives with sustainability efforts, which have contributed to improved cost efficiency across its campuses.
Total enrollment in STI Holdings' schools reached a record high of 138,060 students for SY 2024-2025. The significant growth in enrollment played a pivotal role in enhancing the company's financial performance. Programs regulated by the Commission on Higher Education (CHED) registered a roster of more than 100,000 students â a 20% increase from the previous year. This jump highlighted the rising demand for higher education programs offered by STI Holdings.
To support the growing student population, STI Holdings has continued to invest in campus infrastructure. Recent developments include property acquisitions in Alabang and Tanauan in Batangas for the construction of future STI Academic Centers, ongoing renovations across existing campuses to expand classroom capacity, and the completion of a ₱243.2 million School of Basic Education building at STI West Negros University (STI WNU).
The company has also implemented measures to enhance operational efficiency and sustainability. Among these is the installation of solar panels across various campuses, reducing energy consumption and operational expenses while supporting environmental initiatives.
STI Holdings currently operates a comprehensive education network in the Philippines through its three subsidiariesâSTI Education Services Group (STI ESG), STI West Negros University (STI WNU), and iACADEMY. These institutions collectively offer a wide range of programs, from pre-elementary education to postgraduate studies, catering to thousands of students nationwide.
STI ESG, with its 63 campuses nationwide, has a total capacity of 146,585 students. Originally focused on IT education, STI ESG has expanded its offerings to include Business, Hospitality, Tourism, Psychology, and Criminology degree programs. It also offers Junior and Senior High School programs, ensuring comprehensive educational pathways for students.
STI WNU, based in Bacolod City, provides programs ranging from pre-elementary to postgraduate levels and can accommodate up to 15,000 students. Its state-of-the-art facilities include the newly completed School of Basic Education building, designed to support its growing student population.
Meanwhile, iACADEMY, known for its innovation and strong industry partnerships, specializes in arts, computing, and design programs. Its newly established Cebu campus, launched in 2023, has extended its reach to students in the Visayas region.
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STI Education Systems Holdings, Inc. (STI Holdings) has three subsidiaries involved in education: the STI Education Services Group, Inc. (STI ESG), STI West Negros University, Inc. (STI WNU), and iACADEMY, Inc. (iACADEMY).
STI ESG offers baccalaureate and associate degrees and technical-vocational programs in the fields of Information and Communications Technology, Business and Management, Hospitality Management, Tourism Management, Arts and Sciences, Engineering, Education, Psychology and Criminology. It also offers junior and senior high school.
STI WNU offers programs and courses ranging from pre-elementary to graduate levels. Founded on February 14, 1948, STI WNU was granted its university status by the Commission on Higher Education on February 11, 2008. STI WNU's campus sits on a 3.1-hectare property in the heart of Bacolod City.
iACADEMY is the premier school in the group offering specialized programs in senior high school and college that are centered on Computing, Business and Design. It is known for its strong industry partnerships and non-traditional programs such as Software Engineering, Game Development, Web Development, Real Estate Management, Animation, Multimedia Arts and Design, Fashion Design and Technology, Music Production and Sound Design, Film and Visual Effects, Data Science, and Cloud Computing. iACADEMY also offers programs in Accountancy, Marketing Management and Psychology.
