STI Holdings nets P912.2 million in H2 2024

STI Education Systems Holdings Inc. (STI Holdings) on Monday reported a 76% increase in its net income for the second half of 2024, as it reported over 138,000 students enrolled across its subsidiaries during the period.

In a regulatory filing, STI said its net income climbed to P912.2 million for the six-month period ended December 2024 from P517.8 million the previous year, driven by the double-digit enrollment growth, along with higher operating leverage and cost management.

This comes as the company said students enrolled across its subsidiaries — STI Education Services Group (STI ESG), STI West Negros University (STI WNU), and iACADEMY — increased by 15% to over 138,000.

For the school year 2024-2025, STI said new student enrollment in programs regulated by the Commission on Higher Education (CHED) grew by 7% to 36,827.

Revenues for the six-month period increased by 34% to P2.63 billion, while earnings before interest,taxes, depreciation, and amortization (EBITDA) climbed by P442.4 million to P1.38 billion.

Fourth-quarter net income grew 30% to P649 million, while operating income increased to P710.6 million from P565.6 million. — DVM, GMA Integrated News