2014-08-15
MANILA, Philippines STI Holdings reported today a 15-percent increase in revenues or about P378.9 million for three months ending in June 2014, which was P48.5 million higher than the P330.4 million in revenues it posted for the same period last year.
In a regular report submitted to the Philippines Stock Exchange (PSE), STI Holdings also said that company earnings before interest, tax, depreciation, and amortization (EBITDA) rose to P103.6 million, up from P78.6 million last year.
The company said the good financial performance was mostly due to the increase in the number of enrollment during the period and the acquisition of West Negros University (WNU) in October last year.
The total number of students of the Group increased from 76,195 last year to 80,200 students this year or an increase of 5.3 percent. Enrollment in WNU, which was acquired on October 1, 2013 stood at 5,080 students in school year 2014 -2015 against last years 5,000 students,STI Holdings said.
As a result, tuition and other school fees for the quarter increased to P300.3 million, which was P47.9 million higher than year-ago figure of P252.4 million.
In the same manner, enrollment mix in schools operated by STI ESG Education Services Group was more favorable in 2014 than in 2013, as enrollment leaned more towards STI networks four-year programs than the two-year programs.
The four-year programs are the Commission on Higher Education approved courses, while the two-year programs are the Technical Education and Skills Development Authority courses. The four-year programs charge higher tuition and bring in more revenue per student.
Ratio in 2014 was 81 percent four-year programs and 19 percent two-year programs, as compared to 76 percent and 24 percent, respectively, in 2013. Enrollment mix of WNU for this school year is at 99 percent four-year programs and only one percent two-year programs, improving the Groups enrollment mix to 82 percent four-year programs and 18 percent two-year programs,the company said.
STI Holdings currently has 80 STI branded schools nationwide composed of 66-STI branded colleges and 14-STI branded educational centers. The company also owns iACADEMY, which has a campus in the Makati Central Business District, as well as DLS-STI, whose campus is located adjacent to De Los Santos Medical Center in Quezon City.
Apart from STI, iAcademy, WNU, and DLS-STI, the company also has a stake in Philippine Womens University and its Jose Abad Santos Memorial School (JASMS)-branded basic education schools. PWU, in turn, owns 100 percent of Makati Medical Center College.
STI Holdings has been aggressively expanding after the company raised funds amounting to about P2.6 billion in November 2012 by way of follow on offering through the PSE.
As such, since November 2012, STI ESG has completed two school campuses in Ortigas-Cainta and Caloocan. In addition, two newly constructed STI branded campuses in Cubao, Calamba and Batangas opened this semester. The new campus of STI in Lucena will be completed in November this year.
In April 2014, STI ESG also acquired two parcels of land in San Jose del Monte in Bulacan with a combined land area of 4,178 square meters, which will also be a site for another school in that area.
STI Holdings is included in the list of top 50 Philippine-listed companies evaluated under the Asean Corporate Governance Scorecard. The top listed companies from six participating Asean member-countries were evaluated based on the international standards of corporate governance, including the five Organization for Economic Cooperation and Development principles of corporate governance.
STI Holdings, based on a report published last July 2, 2014, is also one of the 48 companies listed as Shariah-compliant securities, following a screening of 296 listed firms assessed for their compliance with the rules, regulations, teachings, and values that govern the lives of Muslims.
