Share Buyback: Repurchased and canceled 10.4 million shares for ZAR116 million in 2024.
Release Date: August 21, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
Negative Points
Q & A Highlights
Q: Can you confirm the number of learners in Grade 8 versus Grade 12, and what does this imply for future growth? A: We currently have 7,050 learners in Grade 8 and 4,951 in Grade 12. Ideally, we aim to retain these learners through to Grade 12, accounting for factors like relocations and economic circumstances. We anticipate growth of 7,000 to 8,000 learners over the next five years if rollovers are successful, potentially increasing our capacity utilization to about 80%.
Q: Why is there muted growth in primary school enrollments compared to high schools? A: The primary schools are nearing capacity, and economic pressures on young families have led to higher terminations rather than low enrollments. We are focusing on offering exceptional service to convince parents of the value of early education investment.
Q: Are you seeing lower application levels due to economic pressures? A: Application levels remain similar, but the challenge arises when families cannot afford fees, leading to account terminations. We work with foundations like Ruta Sechaba to provide scholarships and support learners.
Q: How much land does Curro have banked, and how often is it reviewed for future use? A: We have reviewed our land portfolio and are in the process of selling about half of the sites that no longer meet our strategic needs. We focus on sites with ongoing merit and have established a large national network of schools.
Q: What is the strategy to grow Grade R and Grade 1 enrollments? A: We focus on enhancing our service offering, advising parents on school readiness, and ensuring competitive fees. We aim to provide young families with a reasonable chance to start within our portfolio.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.