Yduqs Delivers 2024 Guidance, with R$480 million Adjusted Net Income and FCFE of R$ 362 Million
Share Buybacks, dividends, and opportunistic acquisitions are highlight of the capital allocation strategy focused on shareholder returns. Debt management continues positive trajectory
Rio de Janeiro, March 17 – Yduqs (YDUQ3) announced today its financial results for the fourth quarter and full year of 2024, successfully meeting its key earnings per share (EPS) guidance of R$ 1.73 and surpassing all targets set in March 2024. The company reported a 6% year-over-year increase in EBITDA, reaching R$ 1.8 billion, and an impressive 40% growth in adjusted net income, which totaled R$ 480 million. Notably, free cash flow to equity (FCFE) soared by 438% from the previous year, reaching R$ 362 million.
These results underscore the strength of Yduqs’ diversified business model, which includes a robust portfolio of brands and educational formats, as well as its commitment to operational efficiency and cost management.
On the operational front, IDOMED, Ibmec, and the Semi on-campus segment
were the main drivers of growth and EBITDA margin expansion for the year. At IDOMED, due to the maturation of operations, expansion of seats (better market performance), and acquisitions, adjusted EBITDA grew by 23% year-over-year, with a healthy average ticket and very high renewal rates. In 2024, 474 new Medicine seats were added. Ibmec, in rapid expansion, recorded a 53% increase in adjusted EBITDA and a 39% rise in the student base. The Semi on-campus segment grew its student base by 41% compared to the previous year. Aggregated, Yduqs' EBITDA margin grew by 0.6 percentage points compared to 2023, reaching 33.9% at the end of last year.
Strong Cash Generation and Strategic Capital Allocation - Yduqs demonstrated robust operation cash generation of with R$ 1.3 billion (+16% YoY) and free cash flow to equity (FCFE + 438% YoY) show the new level of the business in terms of cash conversion.
From this strong base, and according to the strategy of expanding returns to investors announced on Yduqs Day 2024, the company promoted a robust buyback program of R$300 million (completed in February 2025), the distribution of dividends (R$80 million in 2024, with a proposal of R$150 million for 2025) and two acquisitions, with excellent multiples and in strategic segments (including Medicine).
Debt Management - This strategy was carried out in parallel with improvements in the business's debt management, particularly regarding the average debt spread, which stood at CDI + 1.17% at the close of the 2024 financial year. This represents a reduction of 1 percentage point compared to the average rate in 2021.
There was also an improvement in the amortization schedule, with the 2025 maturities already being amortized (in January), and the next payment not due until 2026. The business's leverage remains under control, at 1.61x Net Debt/EBITDA at the end of 2024 (or 1.53x, if the effects of the buyback during the period of R$146 million are discounted).
ESG Leadership and Recognition - In 2024, Yduqs reinforced its position as a global leader in ESG, maintaining its ‘AA’ rating and top-tier status with MSCI, the only higher-education company to achieve this distinction. The company also became the first education company included in the ESG Integrity Yearbook and earned “prime” status from Institutional Shareholder Services (ISS), one of the world’s most rigorous ESG evaluators.
Additionally, Yduqs was awarded the Women on Board certification, recognizing female representation on its Board of Directors, and won the Exame People Management Award 2024. The company is revising its ESG strategy and its targets to address new challenges and opportunities, with all relevant updates available on its Central ESG page.
For more details on Yduqs’ 2024 financial results, visit our Results Center.