Afya Limited - AFYA STOCK NEWS

Afya Limited (NASDAQ: AFYA) announced the authorization of an increase of 64 medical seats at Faculdade Santo Agostinho in Itabuna, Bahia, now totaling 149 seats. This boosts Afya's overall approved medical seats to 2,823, potentially serving around 20,326 students at maturity, considering financial aid programs. As of September 30, 2022, Afya had 17,997 medical students. This growth highlights Afya's position as a leading medical education provider in Brazil, focused on enhancing educational opportunities for future physicians.

Afya Limited (NASDAQ: AFYA) has successfully completed the issuance of 500,000 non-convertible, unsecured debentures totaling R$500 million through its subsidiary, Afya Participações S.A. The debentures have a maturity date of January 15, 2028, with principal amortization planned for January 15, 2027, and January 15, 2028. Interest will be paid semi-annually at a rate of 100% of the CDI plus 1.80%. Proceeds from this issuance will enhance Afya's cash position and extend its debt maturity profile.

Afya Limited announced significant board changes, including the resignation of board member Daulins Emilio and the end of Flávio Dias's term as an independent director. Tina Krebs has been appointed to replace Emilio, increasing the female representation on the board to 40%. The remaining independent board members will continue until the next Annual General Meeting. This restructuring is expected to enhance decision-making through a diverse range of skills and experiences.

Afya Limited (AFYA) plans to issue 500,000 non-convertible, unsecured debentures through its subsidiary, totaling R$500 million. The offering will occur in Brazil under CVM Rule No. 476 and is not registered in the United States. Proceeds will strengthen cash positions and extend debt maturities. The debentures are set to mature on January 15, 2028, with principal amortization in two installments in 2027 and 2028. This announcement does not constitute an offer in the U.S. and includes forward-looking statements subject to risks and uncertainties.

Afya Limited (NASDAQ: AFYA) will release its Third Quarter and Nine Months 2022 Financial Results on November 21, 2022, after market close. A conference call and webcast will follow at 5:00 PM ET. Analysts' consensus figures for 3Q22 show net revenue estimates ranging from R$ 555 million to R$ 599 million with an average of R$ 579 million. Adjusted EBITDA estimates are projected between R$ 205 million and R$ 245 million, with an average of R$ 228 million and an adjusted EBITDA margin of 39%.

Afya Limited (AFYA) announced a share purchase agreement to acquire 100% of Sociedade Educacional e Cultural Sergipe DelRey Ltda. for R$825 million. The deal will enhance Afya's operations by adding 340 medical school seats, raising the total to 3,099. Projected net revenue for the acquired institutions is R$261 million by 2024. The transaction involves an initial cash payment of R$575 million, with further installments planned. Additionally, there is a potential contingent payment related to 84 seats pending Ministry of Education approval. This acquisition marks Afya's largest ever.

Afya Limited (Nasdaq: AFYA) reported significant growth for Q2 2022, with Adjusted Net Revenue up 51% YoY to R$576.1 million. Excluding acquisitions, revenue grew 19% to R$454 million. Adjusted EBITDA rose 37.1% to R$220.2 million, despite a decrease in EBITDA margin. Net Income surged 383.4% to R$106.1 million, with EPS increasing 522.2% to R$1.12. The company reaffirmed its 2022 guidance, expecting revenue between R$2.28 billion and R$2.36 billion. Solid cash conversion at 91% and a cash position of R$616.3 million were noted, alongside a 26.2% increase in digital services' active payers.

Afya Limited (NASDAQ: AFYA) will announce its Second-Quarter and First Half 2022 Financial Results on August 22, 2022, after market close. The conference call is scheduled for 5:00 PM ET and will be accessible via webcast. The company also disclosed sell-side analysts’ consensus figures, with estimated Net Revenue ranging from R$ 554 million to R$ 573 million and Adjusted EBITDA expected between R$ 211 million and R$ 224 million. The estimates were based on forecasts collected from analysts between July 15 and July 21, 2022.