Afya Limited reported exceptional financial and operational results for the fourth quarter and full-year ended December 31, 2024. For the full year, net revenue reached R$3,304.3 million, a 14.9% increase year-over-year, surpassing the mid-guidance of R$2,750 million. Adjusted EBITDA for 2024 was R$1,455.6 million, up 24.9% year-over-year, also exceeding the mid-guidance of R$1,425 million, with a margin of 44.1%.
Full-year 2024 net income grew by 60.1% to R$648.9 million, resulting in an EPS of R$7.01, a 62.9% increase compared to 2023. The company generated R$1,453.2 million in cash flow from operating activities, a 34% increase year-over-year, achieving a cash conversion rate of 102%. Approved medical seats expanded to 3,593, and the medical school net average ticket increased by 4.6% year-over-year to R$8,849.
The Undergraduate segment's net revenue grew by 15.3%, while the Continuing Education segment saw an 8.3% organic net revenue increase to R$255.4 million. Medical Practice Solutions also delivered strong organic growth, with net revenue increasing 15.3% to R$161.8 million. Afya's ecosystem reached 313,000 active users by the end of 2024.
Looking ahead, Afya introduced its 2025 guidance, projecting net revenue between R$3,670 million and R$3,770 million. Adjusted EBITDA is anticipated to range from R$1,620 million to R$1,720 million, with CAPEX expected to be between R$250 million and R$290 million. This guidance excludes any acquisitions concluded after its issuance.
Afya also highlighted its Social Return on Investment (SROI) study, indicating that every R$1 invested generated R$3.58 in social benefits for the analyzed municipalities. Additionally, Dr. Gustavo Meirelles was welcomed as the Chief Medical Officer, tasked with driving innovation and strengthening relationships within the health industry.
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