Afya Limited - AFYA STOCK NEWS

Afya (Nasdaq: AFYA; B3: A2FY34), a leading medical education group in Brazil, announced the resignation of Mrs. Shobhna Mohn from its Board of Directors, effective June 30, 2024. Mohn's departure is unrelated to Afya’s operations or practices. During her tenure, she contributed significantly to Afya's growth, supporting its journey to becoming a top medical education and practice solutions provider in Brazil. Afya highlighted her strategic insights and leadership as pivotal to its success. The company has no immediate plans to fill her position. The board remains committed to strong governance with diverse skills and experience.

Afya (Nasdaq: AFYA; B3: A2FY34), a leading medical education and practice solutions provider in Brazil, announced the successful passage of a key resolution at its Annual General Meeting on June 5, 2024. Shareholders approved and ratified the company's financial statements and the auditor’s report for the fiscal year ending December 31, 2023.

Afya has announced its Annual General Meeting (AGM) scheduled for June 5, 2024, at 10:00 a.m. BRT. The meeting will take place at their Nova Lima office and virtually through a provided link. The main agenda item is the approval and ratification of the company's financial statements and the auditor's report for the fiscal year ending December 31, 2023. The record date for shareholders eligible to attend is May 10, 2024. The company encourages shareholders to participate and vote, either in person or via proxy. The company's financial statements are available on their investor relations website.

Afya reported solid financial results for the first quarter of 2024, with a 13.3% increase in net revenue to R$804.2 million and a 20.5% growth in adjusted EBITDA to R$397.9 million, leading to an adjusted EBITDA margin expansion of 300 bps. The company also saw significant increases in net income and adjusted net income. Afya's ecosystem reached 334,368 users, reflecting its strong presence in the medical education and practice solutions market in Brazil. The company reaffirmed its guidance for 2024, aiming for continued growth and acquisitions to enhance its offerings.

Afya has announced the acquisition of Unidompedro and Faculdade Dom Luiz, adding 300 medical school seats in Brazil. The purchase price is R$660.0 million, with payment split between cash and installments. The transaction is subject to regulatory approval.

Afya reported strong financial and operating results for the fourth quarter and full-year period ended December 31, 2023. Highlights include a 22.6% increase in 4Q23 Adjusted Net Revenue to R$729.5 million, 19.3% growth in Adjusted EBITDA to R$288.9 million, and a 27.7% rise in Adjusted Net Income to R$164.4 million. For FY23, Adjusted Net Revenue increased by 23.9% to R$2,874.1 million, and Adjusted EBITDA grew by 21.2% to R$1,165.7 million. Cash conversion was at 97.1%, generating R$1,088.8 million in cash flow from operating activities. Afya's Digital Service saw an increase of 2.8% in monthly active physicians and medical students. The company also achieved its 2023 guidance and set new targets for 2024.

Afya Limited, a leading medical education group in Brazil, has received authorization to increase medical seats at FIP Guanambi, resulting in an additional payment of R$49.6 million. This brings Afya's total approved seats to 3,203.

Afya Limited (AFYA) Reports Strong Financial Results for Q3 2023, Showing 24.6% YoY Increase in Adjusted Net Revenue and 21.7% YoY Increase in Adjusted EBITDA. Cash Conversion of 109.3% Resulting in R$822.0 Million Solid Cash Position. Over 285 Thousand Monthly Active Physicians and Medical Students Using Afya’s Digital Service.

Afya Limited, the leading medical education group in Brazil, has announced the acquisition of an additional 15% of Centro de Ciências em Saúde de Itajubá S.A. (CCSI; FMIT), bringing their ownership to 75% of the total share capital. The purchase price for the additional 15% was R$21.0 million, paid in cash. FMIT is a post-secondary education institution offering on-campus undergraduate courses in medicine, with 87 approved medical seats.