The Yuducus The third quarter ended with a net profit of R$97.7 million, representing a 35.6% annual decline. Revenues increased by 3.5% to R$1.35 billion, with the negative impact of R$16 million in provisions related to the tuition fee waiver policy for non-participating new students. Using the adjusted basis, revenue would have increased by 4.2%.
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The quarterly results were hampered by other operating expenses of R$5.1 million, compared to a profit of R$564,000 in the third quarter last year. The balance sheet was also weighed down by a 58.4% increase in finance costs to R$172.5 million and a 7.6% increase in expenses to R$540.1 million.
The company highlighted a loss of R$31.4 million related to the increase in the Selic rate and a R$10.5 million loss related to the change in the model of receiving monthly fees from privately funded students. Additionally, the positive impact from swaps in the third quarter of 2024 was R$12.9 million.
General expenses decreased slightly by 0.2% compared to the previous July-September period, totaling 554.4 million reais.
Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled R$462.1 million, an increase of 0.9% compared to Q3 2024. In contrast, the profit margin decreased by 0.9 percentage points to 34.2%.
The total number of students at the end of the quarter was 1.38 million, an increase of 2.7% year-on-year, with face-to-face classes increasing by 13.4% to 305,200, but digital classes decreasing by 0.3% to 1.05 million.
Yduqs recorded net debt of R$4.34 billion in the third quarter, while leverage remained stable on an annual basis at 1.54x to 1.52x.
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