(Image source: Visual China)
Recently, Maple Leaf Education announced the mid-term earnings report, forecasting the results for the six months ending February 29, 2024.
According to the announcement, Maple Leaf Education's revenue for the first half of fiscal year 2024 is expected to increase by no less than 10% year-on-year compared to the same period last year, while revenue for the first half of fiscal year 2023 was 575 million yuan, which means that during the reporting period, Maple Leaf Education is expected to record more than 633 million yuan in revenue; in the first half of fiscal year 2024, the gross profit of Maple Leaf Education is expected to increase by more than 30% year-on-year from 241 million yuan in the same period last year.
According to reports, the profit attributable to shareholders of Maple Leaf Education in the first half of fiscal year 2023 was 15.5 million yuan, while during the reporting period, Maple Leaf Education expects shareholders to account for no less than 40 million yuan in losses, changing from profit attributable to shareholders to losses attributable to shareholders.
In the announcement, Maple Leaf Education explained the year-on-year shift in shareholders' share from profit to loss, stating that this was mainly due to the net impact of the following matters: the increase in revenue was offset by net exchange losses and the impact of the increase in financing costs for the six months of 2024.
However, it is worth noting that in terms of indicative use alone, Maple Leaf Education's adjusted EBITDA for the first half of fiscal year 2023 was 262 million yuan, and the adjusted EBITDA is expected to decrease by no more than 5.0% for the same period in 2024. This is mainly due to the net effects of increased financing costs, increased depreciation of investment properties and properties, school buildings and equipment, reduced amortization of intangible assets, right-of-use assets and leased books, and increased losses due to reduced share payments and changes in the fair value of convertible bonds.