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Evolve Education : reports a strong performance in its first full year

05/23/2016 | 02:39am
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23 May 2016‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌

Evolve reports a strong performance in its first full year

Evolve Education Group Limited ("Evolve") (NZX/ASX: EVO) is pleased to report a strong performance in its first full year of operations.

Evolve has delivered income of $139m and a statutory Net Profit After Tax (NPAT) of $15.6m for the year ended 31 March 2016. "This is a positive result, particularly by a company in its establishment year," said Norah Barlow, Chair. "In the last 12 months we have worked hard to bring our 106 early childhood education (ECE) centres and their teams together as well as develop processes and systems for long term resilience and efficiency. This gives the company an excellent platform from which to grow further."

Evolve has delivered the business model promised in the prospectus: establishing a high-quality ECE portfolio, achieving group efficiencies through scale, delivering quality ECE and growth through acquisitions. Between centres and home-based ECE we are providing quality ECE to more than 12,000 children throughout New Zealand.

Evolve acquired 20 additional ECE centres in the twelve months to 31 March 2016, expanding its licensed capacity by over 20%. As a result of that growth, Evolve now employs more than 2,200 New Zealanders. Ninety per cent of this workforce are employed within ECE centres, with more than 80% holding undergraduate and postgraduate qualifications. Evolve anticipates further growth this year with the outlook for the sector remaining very positive: demand for ECE services continues to be driven by population growth particularly in Auckland, the requirement of working parents and increased funding from Government to achieve its participation targets.

"Quality acquisitions in combination with talented centre leaders are the lynchpin of Evolve's success, enabling organic growth and long term performance," said Chief Executive Alan Wham. "In the year ahead we will continue to invest in centres and in our people so that we can grow the business and deliver to the expectations of our families and shareholders", he added.

Evolve also announces a final dividend for shareholders of 2.38 cents per share fully imputed, bringing the total dividend payment to 4.76 cents for the year. The company's dividend reinvestment plan (DRP) announced on 23 November 2015 will apply to the dividend with no discount. The last date of receipt for a participation election from a shareholder who wishes to participate in the DRP is 9 June 2016.

ENDS

For any further inquiries please contact: Alan Wham

Chief Executive

Evolve Education Group Limited Email: alan.wham@eeg.co.nz Mobile: +64 27 582 4838

Attachments:
  1. Results presentation

  2. Evolve Group's audited consolidated financial statements for the year ended 31 March 2015

  3. NZX Appendix 1 and ASX Appendix 4E

  4. NZX Appendix 7*

    *ASX appendix 3A1 (notification of Dividend) will be cross filed with the NZX following its online completion.

    About Evolve

    Evolve is a leading provider of high-quality multi-faceted early childhood education (ECE) services in New Zealand and is listed on the New Zealand and Australian Stock Exchanges. Evolve currently has 106 centres nationwide under a number of leading brands including Lollipops Educare and Leaps & Bounds. Evolve's home-based services include market-leaders Porse and Au Pair Link. Additionally, Evolve offers a centre management service through ECE Management as well as accredited training through Porse Education and Training and Life Education and Training.

    ANNUAL RESULTS PRESENTATION‌

    Period to 31 March 2016 AGENDA
  5. Highlights - Financial & Operational

  6. Areas of Focus

  7. 3

    Centre Portfolio Growth Strategy

  8. Outlook

  9. Appendices

  10. 2

Evolve Education Group Ltd. published this content on 23 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 May 2016 06:37:04 UTC.

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