Announcement • 15h
Afya Limited Reports Unaudited Consolidated Write-Off of Property and Equipment for the First Quarter Ended March 31, 2026 Afya Limited reported unaudited consolidated write-off of property and equipment for the first quarter ended March 31, 2026. For the quarter, the company reported write-off of property and equipment of BRL 362,000 as compared to BRL 305,000 a year ago. Announcement • May 09
Afya Limited Reaffirms Earnings Guidance for 2026 Afya Limited reaffirmed earnings guidance for 2026. For the year, the company expected revenue to be between BRL 3,950 million to BRL 4,100 million. Announcement • Apr 13
Afya Limited to Report Q1, 2026 Results on May 07, 2026 Afya Limited announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on May 07, 2026 Announcement • Feb 23
Afya Limited to Report Q4, 2025 Results on Mar 12, 2026 Afya Limited announced that they will report Q4, 2025 results After-Market on Mar 12, 2026 Board Change • Dec 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Miguel Filisbino De Paula was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Dec 18
Afya Limited Announces Resignation of Maria Tereza Azevedo as Member of the Board of Directors, Effective December 31, 2025 Afya Limited announced that Mrs. Maria Tereza Azevedo notified the Company of her intent to resign as a member of the Board of Directors of the Company, effective as of December 31, 2025. Afya's Board of Directors is composed of two co-chairmen, one representing Bertelsmann SE&Co. KGaA and one representing the Esteves family, one more member of the Esteves family, two more members of Bertelsmann SE&Co. KGaA, and four independent members, resulting in a diversity of skills and experience to enhance Afya's decision-making. BOARD OF DIRECTORS: Nicolau Carvalho Esteves Co-Chairman of the Board; Kay Krafft Co-Chairman of the Board; Benedikt Dalkmann Director; Christina Krebs Director; Renato Tavares Esteves Director; João Paulo Seibel de Faria Independent Director; Vanessa Claro Lopes Independent Director; Miguel Filisbino Pereira de Paula Independent Director; Marcelo Ken Suhara Independent Director. Announcement • Nov 13
Afya Limited Reaffirms Earnings Guidance for the Year 2025 Afya Limited reaffirmed earnings guidance for the year 2025. For the year, the company expects revenue to be BRL 3,670 million to BRL 3,770 million. Announcement • Oct 17
Afya Limited to Report Q3, 2025 Results on Nov 12, 2025 Afya Limited announced that they will report Q3, 2025 results After-Market on Nov 12, 2025 Announcement • Jul 31
Afya Limited to Report Q2, 2025 Results on Aug 13, 2025 Afya Limited announced that they will report Q2, 2025 results After-Market on Aug 13, 2025 Announcement • Jun 10
Afya Limited, Annual General Meeting, Jun 24, 2025 Afya Limited, Annual General Meeting, Jun 24, 2025. Location: afya participacoes s a alameda oscar, niemeyer no.119 15th floor vila da serra nova lima, minas gerais Brazil Announcement • Apr 09
Afya Limited to Report Q1, 2025 Results on May 08, 2025 Afya Limited announced that they will report Q1, 2025 results After-Market on May 08, 2025 Announcement • Feb 14
Afya Limited to Report Q4, 2024 Results on Mar 13, 2025 Afya Limited announced that they will report Q4, 2024 results After-Market on Mar 13, 2025 Reported Earnings • Nov 16
Third quarter 2024 earnings released: EPS: R$1.33 (vs R$1.04 in 3Q 2023) Third quarter 2024 results: EPS: R$1.33 (up from R$1.04 in 3Q 2023). Revenue: R$841.2m (up 16% from 3Q 2023). Net income: R$120.0m (up 28% from 3Q 2023). Profit margin: 14% (up from 13% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Nov 14
Afya Limited Reaffirms Financial Guidance for the Year 2024 Afya Limited reaffirmed financial guidance for the year 2024. For the period, the company expects net revenue guidance of BRL 3,225 million to BRL 3,325 million. Announcement • Oct 18
Afya Limited to Report Q3, 2024 Results on Nov 13, 2024 Afya Limited announced that they will report Q3, 2024 results at 4:00 PM, US Eastern Standard Time on Nov 13, 2024 Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: R$1.76 (vs R$0.92 in 2Q 2023) Second quarter 2024 results: EPS: R$1.76 (up from R$0.92 in 2Q 2023). Revenue: R$809.9m (up 14% from 2Q 2023). Net income: R$158.2m (up 91% from 2Q 2023). Profit margin: 20% (up from 12% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Aug 15
Afya Limited Updates Financial Guidance for the Year 2024 Afya Limited updated financial guidance for the year 2024. For the period, the company updated net revenue guidance of BRL 3,225 million to BRL 3,325 million. Announcement • Jul 24
Afya Limited to Report Q2, 2024 Results on Aug 14, 2024 Afya Limited announced that they will report Q2, 2024 results After-Market on Aug 14, 2024 Announcement • Jul 02
Afya Limited Announces the Resignation of Shobhna Mohn as a Member of the Board of Directors Afya Limited announced that Mrs. Shobhna Mohn notified the Company of her intent to resign as a member of the Board of Directors of the Company, effective as of June 30, 2024, as she also steps down from her operational role at Bertelsmann, one of the key shareholders of Afya. Mrs. Mohn's decision is unrelated to any matter associated with the Company, its operations, policies, or practices. During her tenure as a member of the Board of Directors, Mrs. Mohn has made significant and valuable contributions to the Company, supporting its journey towards becoming Brazil's leading medical education group and medical practice solutions provider. Her insights and dedication have been instrumental in their growth and success. Afya, also announced that there are no immediate plans for Bertelsmann SE&Co. KGaA to appoint a new member to fill her position on the Board of Directors. Afya remains steadfast in its commitment to maintaining a strong and effective board with the requisite skills and experience to guide the company forward and ensure their continued success. Afya’s Board of Directors is composed of two co-chairmen - one representing Bertelsmann SE&Co. KGaA, and one representing the Esteves family - two more members of Bertelsmann SE&Co. KGaA, one more member of the Esteves family, one member from Softbank and four independent members, resulting in a diversity of skills and experience to enhance Afya’s decision-making: BOARD OF DIRECTORS: Nicolau Carvalho Esteves - Co-Chairman of the Board; Kay Krafft - Co-Chairman of the Board; Benedikt Dalkmann - Director; Christina Krebs - Director; Renato Tavares Esteves - Director; Maria Tereza Azevedo - Director; João Paulo Seibel de Faria - Independent Director; Vanessa Claro Lopes - Independent Director; Miguel Filisbino Pereira de Paula - Independent Director and Marcelo Ken Suhara - Independent Director. Announcement • May 21
Afya Limited, Annual General Meeting, Jun 05, 2024 Afya Limited, Annual General Meeting, Jun 05, 2024. Location: alameda oscar niemeyer, no.119, 15th floor, vila da serra, nova lima, minas gerais, Brazil Reported Earnings • May 11
First quarter 2024 earnings released: EPS: R$2.26 (vs R$1.25 in 1Q 2023) First quarter 2024 results: EPS: R$2.26 (up from R$1.25 in 1Q 2023). Revenue: R$804.2m (up 13% from 1Q 2023). Net income: R$203.4m (up 81% from 1Q 2023). Profit margin: 25% (up from 16% in 1Q 2023). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: R$4.30 (vs R$4.14 in FY 2022) Full year 2023 results: EPS: R$4.30 (up from R$4.14 in FY 2022). Revenue: R$2.88b (up 24% from FY 2022). Net income: R$386.3m (up 3.4% from FY 2022). Profit margin: 13% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.2% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Mar 16
Afya Limited Provides Earnings Guidance for the FY2024 Afya Limited provided earnings guidance for the FY2024. For the period, the company expects net revenue in the range of BRL 3,150 million - BRL 3,250 million. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: R$1.04 (vs R$0.84 in 3Q 2022) Third quarter 2023 results: EPS: R$1.04 (up from R$0.84 in 3Q 2022). Revenue: R$723.5m (up 25% from 3Q 2022). Net income: R$93.3m (up 23% from 3Q 2022). Profit margin: 13% (in line with 3Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Oct 05
Afya Limited to Report Q3, 2023 Results on Nov 13, 2023 Afya Limited announced that they will report Q3, 2023 results After-Market on Nov 13, 2023 Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: R$0.92 (vs R$1.12 in 2Q 2022) Second quarter 2023 results: EPS: R$0.92 (down from R$1.12 in 2Q 2022). Revenue: R$712.6m (up 19% from 2Q 2022). Net income: R$82.8m (down 18% from 2Q 2022). Profit margin: 12% (down from 17% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Jul 26
Afya Limited to Report Q2, 2023 Results on Aug 28, 2023 Afya Limited announced that they will report Q2, 2023 results After-Market on Aug 28, 2023 Reported Earnings • May 25
First quarter 2023 earnings released: EPS: R$1.25 (vs R$1.42 in 1Q 2022) First quarter 2023 results: EPS: R$1.25 (down from R$1.42 in 1Q 2022). Revenue: R$710.0m (up 25% from 1Q 2022). Net income: R$112.1m (down 14% from 1Q 2022). Profit margin: 16% (down from 23% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • May 20
Afya Limited to Report Q1, 2023 Results on May 24, 2023 Afya Limited announced that they will report Q1, 2023 results After-Market on May 24, 2023 Announcement • May 09
Afya Limited, Annual General Meeting, Jun 15, 2023 Afya Limited, Annual General Meeting, Jun 15, 2023, at 13:00 Coordinated Universal Time. Location: Afya Participações S.A., Alameda Oscar Niemeyer, No. 119, 15th Floor, Vila da Serra Nova Lima Minas Gerais Brazil Agenda: To consider the Company's financial statements and the auditor's report for the fiscal year ended 31 December 2022 be approved and ratified; to consider João Paulo Seibel de Faria be appointed as a director of the Company with immediate effect to hold office for a two year term in accordance with the Amended and Restated Articles of Association of the Company; to consider Vanessa Claro Lopes be appointed as a director of the Company with immediate effect to hold office for a two year term in accordance with the Amended and Restated Articles of Association of the Company; and to consider other matters. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €11.40, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Consumer Services industry in Europe. Total loss to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €10.90, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Consumer Services industry in Europe. Total loss to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.94 per share. Reported Earnings • Mar 25
Full year 2022 earnings released: EPS: R$4.14 (vs R$2.39 in FY 2021) Full year 2022 results: EPS: R$4.14 (up from R$2.39 in FY 2021). Revenue: R$2.33b (up 36% from FY 2021). Net income: R$373.6m (up 67% from FY 2021). Profit margin: 16% (up from 13% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • Dec 10
Afya Announces Changes to Its Board of Directors Afya Limited announced that Mr. Flávio Dias, a board member since July 2020, has ended his term as an independent member of the Board of Directors, and will not be renewed. The remaining independent board members will have their term extended until Afya’s next Annual General Meeting. Furthermore, Afya also announced that Mr. Daulins Emilio, a board member since August 2019, has submitted his resignation letter as a member of the Board of Directors and, consequently, Bertelsmann SE&Co. KGaA has appointed Mrs. Tina Krebs as his replacement, effective as of December 9, 2022. With these changes, the number of women members now represents 40% of the Board of Directors. Tina Krebs is the Chief People Officer of Bertelsmann Education Group and the Chief People Officer at Relias, a Bertelsmann Education Group company. Until 2020, Tina held multiple roles at Relias including VP, Client Care and VP, Integration, where she helped integrate multiple healthcare technology companies into the Relias portfolio. Before joining Relias, Tina Krebs was a partner at the professional services firm, ScottMadden Management Consultants. Reported Earnings • Nov 22
Third quarter 2022 earnings released: EPS: R$0.84 (vs R$0.57 in 3Q 2021) Third quarter 2022 results: EPS: R$0.84 (up from R$0.57 in 3Q 2021). Revenue: R$580.6m (up 28% from 3Q 2021). Net income: R$75.8m (up 43% from 3Q 2021). Profit margin: 13% (up from 12% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Board Change • Nov 17
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Miguel Filisbino De Paula was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Oct 22
Afya Limited to Report Q3, 2022 Results on Nov 21, 2022 Afya Limited announced that they will report Q3, 2022 results After-Market on Nov 21, 2022 Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: R$1.12 (vs R$0.18 in 2Q 2021) Second quarter 2022 results: EPS: R$1.12 (up from R$0.18 in 2Q 2021). Revenue: R$598.2m (up 61% from 2Q 2021). Net income: R$101.5m (up 489% from 2Q 2021). Profit margin: 17% (up from 4.6% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 18%, compared to a 22% growth forecast for the Consumer Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Jul 22
Afya Limited to Report Q2, 2022 Results on Aug 22, 2022 Afya Limited announced that they will report Q2, 2022 results After-Market on Aug 22, 2022 Reported Earnings • May 25
First quarter 2022 earnings released First quarter 2022 results: Revenue: R$566.3m (up 44% from 1Q 2021). Net income: R$129.6m (up 20% from 1Q 2021). Profit margin: 23% (down from 27% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 26%, compared to a 44% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €11.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Consumer Services industry in Europe. Total loss to shareholders of 40% over the past year. Announcement • May 06
Erste Wv GÜTersloh Gmbh signed a basic agreement to acquire additional 2.4% stake in Afya Limited (NasdaqGS:AFYA) from Nicolau Carvalho Esteves Rosângela de Oliveira Tavares Esteves and NRE Capital Ventures Ltd. Erste Wv GÜTersloh Gmbh signed a basic agreement to acquire additional 2.4% stake in Afya Limited (NasdaqGS:AFYA) from Nicolau Carvalho Esteves Rosângela de Oliveira Tavares Esteves and NRE Capital Ventures Ltd for approximately $160 million on March 7, 2022. The transaction is subject to due diligence and Bertelsmann board approval. Following the transaction, Bertelsmann and the Esteves family will beneficially own 31.0% and 17.8% of the total shares respectively. The transaction is expected to complete on May 4, 2022.
Erste Wv GÜTersloh Gmbh signed a basic agreement to acquire additional 2.4% stake in Afya Limited (NasdaqGS:AFYA) from Nicolau Carvalho Esteves Rosângela de Oliveira Tavares Esteves and NRE Capital Ventures Ltd on May 5, 2022. Board Change • Apr 27
Less than half of directors are independent There are 10 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 10 new directors. 2 experienced directors. No highly experienced directors. 5 independent directors (6 non-independent directors). Director Sérgio Mendes Coutinho is the most experienced director on the board, commencing their role in 2019. Independent Director Miguel Filisbino De Paula was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Apr 21
Afya Limited Announces Changes to its Board of Directors Afya Limited announced that Mr. Paulo Passoni, a board member since May 2021, has submitted his resignation letter as a member of the Board of Directors. Mrs. Maria Tereza Azevedo was appointed as his replacement effective as of April 20, 2022. Maria Tereza Azevedo joined Softbank LatAm fund in 2021 as Investment Director leading the Education industry. Prior to joining Softbank, she was an Executive Director at Santander and Director at UBS Investment Bank leading the TMT strategy and LatAm Education and the Technology, Media, and Telecommunications teams, respectively. Announcement • Apr 19
Afya Limited to Report Q1, 2022 Results on May 23, 2022 Afya Limited announced that they will report Q1, 2022 results After-Market on May 23, 2022 Announcement • Apr 14
Afya Limited, Annual General Meeting, Apr 29, 2022 Afya Limited, Annual General Meeting, Apr 29, 2022, at 14:00 Coordinated Universal Time. Location: at the offices of Afya Participações S.A., Alameda Oscar Niemeyer, No. 119, Room 504, Vila da Serra Nova Lima, Minas Gerais Brazil Agenda: To consider the Company's financial statements and the auditor's report for the fiscal year ended 31 December 2021 be approved and ratified; to consider the Memorandum and Articles of Association of the Company currently in effect be amended and restated by the deletion in their entirety and the substitution in their place of the Amended and Restated Memorandum and Articles of Association; and to consider other matters if any. Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: R$2.39 (vs R$3.15 in FY 2020) Full year 2021 results: EPS: R$2.39 (down from R$3.15 in FY 2020). Revenue: R$1.72b (up 43% from FY 2020). Net income: R$223.3m (down 24% from FY 2020). Profit margin: 13% (down from 24% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 30%, compared to a 27% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 16% share price gain to €12.50, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Consumer Services industry in Europe. Total loss to shareholders of 29% over the past year. Announcement • Mar 06
Afya Limited to Report Q4, 2021 Results on Mar 31, 2022 Afya Limited announced that they will report Q4, 2021 results After-Market on Mar 31, 2022 Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 17% share price gain to €13.20, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Consumer Services industry in Europe. Total loss to shareholders of 27% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €25.48 per share. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 17% share price gain to €13.40, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Consumer Services industry in Europe. Total loss to shareholders of 37% over the past year. Reported Earnings • Nov 23
Third quarter 2021 earnings: Revenues exceed analyst expectations Third quarter 2021 results: Revenue: R$454.4m (up 47% from 3Q 2020). Net income: R$53.0m (down 29% from 3Q 2020). Profit margin: 12% (down from 24% in 3Q 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.2%. Over the next year, revenue is forecast to grow 27%, compared to a 16% growth forecast for the industry in Germany. Announcement • Aug 28
Afya Limited Provides Earnings Guidance for the Second Half of 2021 Afya Limited provided earnings guidance for the second half of 2021. For the period, the company’s net revenue is expected to be between BRL 760 million to BRL 800 million. Reported Earnings • Aug 27
Second quarter 2021 earnings released The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: R$372.4m (up 36% from 2Q 2020). Net income: R$17.2m (down 72% from 2Q 2020). Profit margin: 4.6% (down from 22% in 2Q 2020). The decrease in margin was driven by higher expenses. Executive Departure • Aug 10
Director Laura Carvalho has left the company On the 5th of August, Laura Carvalho's tenure as Director ended after 2.1 years in the role. We don't have any record of a personal shareholding under Laura's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 2.08 years. Announcement • Aug 07
Bertelsmann SE& Co. KGaA completed the acquisition of 24.7% stake in Afya Limited (NasdaqGS:AFYA) from Bozano Educacional II Fundo de Investimento em Participações manged by Crescera Investimentos. Bertelsmann SE& Co. KGaA agreed to acquire 24.7% stake in Afya Limited (NasdaqGS:AFYA) from Bozano Educacional II Fundo de Investimento em Participações manged by Crescera Investimentos on June 7, 2021. An affiliate will acquire 23.1 million B class shares. Upon consummations of the acquisition, Bertelsmann is expected to have the right to appoint the three members of Afya’s board of directors currently appointed by Crescera Educacional. The transaction is subject to anti-trust approval and customary closing condition.
Bertelsmann SE& Co. KGaA completed the acquisition of 24.7% stake in Afya Limited (NasdaqGS:AFYA) from Bozano Educacional II Fundo de Investimento em Participações manged by Crescera Investimentos on August 5, 2021. As a result of the closing of the transaction, Daniel Borghi and Laura Guaraná from Crescera ceased to be Afya board members. Borghi will continue to support Afya as an Afya board observer during six months, starting today. Pursuant to Afya’s amended and restated articles of association, Shobhna Mohn and Kay Krafft were appointed by Bertelsmann as board members. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 16% share price gain to R$23.00, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 16x in the Consumer Services industry in Europe. Total returns to shareholders of 5.5% over the past year. Reported Earnings • May 28
First quarter 2021 earnings released: EPS R$1.16 (vs R$1.09 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: R$394.4m (up 45% from 1Q 2020). Net income: R$108.1m (up 8.3% from 1Q 2020). Profit margin: 27% (down from 37% in 1Q 2020). The decrease in margin was driven by higher expenses. Announcement • May 05
Afya Limited announced that it has received BRL 822 million in funding from SoftBank Investment Advisers (UK) Limited On May 4, 2021, Afya Limited (NasdaqGS:AFYA) closed the transaction. Reported Earnings • May 04
Full year 2020 earnings released: EPS R$3.15 (vs R$2.03 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: R$1.20b (up 60% from FY 2019). Net income: R$292.1m (up 90% from FY 2019). Profit margin: 24% (up from 21% in FY 2019). The increase in margin was driven by higher revenue. Announcement • Apr 28
Afya Limited announced that it expects to receive BRL 822 million in funding from SoftBank Investment Advisers (UK) Limited Afya Limited (NasdaqGS:AFYA) announced a private placement of Series A perpetual convertible preferred shares for gross proceeds of BRL 822 million on April 26, 2021. The transaction will include participation from new investor SoftBank Innovation Fund, a fund managed by SoftBank Investment Advisers (UK) Limited. The transaction is subject to customary closing conditions. Post completion of acquisition and the transaction SoftBank Investment Advisers (UK) Limited and its affiliates will beneficially own approximately 8.4% of the total shares of the company on an as-converted basis for the Series A perpetual convertible preferred shares. Reported Earnings • Apr 11
Full year 2020 earnings released: EPS R$3.15 (vs R$2.03 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: R$1.20b (up 60% from FY 2019). Net income: R$292.1m (up 90% from FY 2019). Profit margin: 24% (up from 21% in FY 2019). The increase in margin was driven by higher revenue. Announcement • Apr 10
Afya Limited Provides Revenge Guidance for the Second Half of 2021 Afya Limited provided revenue guidance for the second half of 2021. For the second half, net revenue is expected to be between BRL 740 million to BRL 780 million. Is New 90 Day High Low • Mar 09
New 90-day low: €17.00 The company is down 13% from its price of €19.50 on 09 December 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €20.19 per share. Is New 90 Day High Low • Jan 28
New 90-day low: €18.00 The company is down 9.0% from its price of €19.70 on 30 October 2020. The German market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.99 per share. Is New 90 Day High Low • Dec 09
New 90-day low: €19.30 The company is down 8.0% from its price of €21.00 on 10 September 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.23 per share. Analyst Estimate Surprise Post Earnings • Dec 05
Revenue misses expectations Revenue missed analyst estimates by 0.03%. Over the next year, revenue is forecast to grow 38%, compared to a 7.6% growth forecast for the Consumer Services industry in Germany. Reported Earnings • Dec 05
Third quarter 2020 earnings released: EPS R$0.80 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: R$309.4m (up 50% from 3Q 2019). Net income: R$74.8m (up 62% from 3Q 2019). Profit margin: 24% (up from 22% in 3Q 2019). The increase in margin was driven by higher revenue. Announcement • Nov 25
Afya Limited to Report Q3, 2020 Results on Dec 03, 2020 Afya Limited announced that they will report Q3, 2020 results at 5:00 PM, E. South America Standard Time on Dec 03, 2020 Announcement • Nov 10
Afya Limited, Annual General Meeting, Dec 09, 2020 Afya Limited, Annual General Meeting, Dec 09, 2020, at 13:30 Coordinated Universal Time. Location: Alameda Oscar Niemeyer, No. 119, Room 504 Vila da Serra Nova Lima Minas Gerais Brazil Agenda: To resolve, as an ordinary resolution, that the Company’s financial statements and the auditor’s report for the fiscal year ended 31 December 2019 be approved and ratified; and to consider the re-election of directors. Is New 90 Day High Low • Oct 16
New 90-day high: €23.00 The company is up 21% from its price of €19.00 on 17 July 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Services industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.10 per share. Announcement • Aug 04
Afya Limited to Report Q2, 2020 Results on Aug 27, 2020 Afya Limited announced that they will report Q2, 2020 results at 5:00 PM, E. South America Standard Time on Aug 27, 2020 
