Reported Earnings • Jul 16
Third quarter 2026 earnings released: CA$0.01 loss per share (vs CA$0.002 loss in 3Q 2025) Third quarter 2026 results: CA$0.01 loss per share (further deteriorated from CA$0.002 loss in 3Q 2025). Revenue: CA$5.29m (down 69% from 3Q 2025). Net loss: CA$666.0k (loss widened 330% from 3Q 2025). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Board Change • May 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. Member of Advisory Board Dave Richardson was the last 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: Insufficient board refreshment. Breakeven Date Change • May 21
Forecast to breakeven in 2027 The 2 analysts covering Global Education Communities expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 83% to 2026. The company is expected to make a profit of CA$2.43m in 2027. Average annual earnings growth of 160% is required to achieve expected profit on schedule. Duyuru • Jan 16
Global Education Communities Corp. Receives Approval for 26-Storey Project from City of Vancouver Global Education Communities Corp. announced that the City of Vancouver has approved the rezoning and density increase for GEC Langara. The approval transitions the site from a single-house residential designation to that of a 26-storey rental apartment tower. The GEC Langara project is now cleared to proceed with Development and Building Permit applications. The new approval allows for a maximum buildable area of 163,000 square feet, representing a 159% increase in density from the previous 10-storey design. The expansion aligns with British Columbia's Bill 47 Transit Oriented Area legislation, which mandates higher density near major transit hubs. Under the revised plan, GEC Langara will accommodate approximately 650 occupants, a 171% increase in housing capacity. Strategic Location: GEC Langara is situated at the corner of Cambie Street and West 49th Avenue, directly adjacent to the Langara-49th Avenue Canada Line station and three blocks from Langara College. The Canada Line provides rapid transit to downtown Vancouver in 15 minutes and to Vancouver International Airport or the City of Richmond in 10 minutes. Transit bus access to the University of British Columbia is under 40 minutes. Duyuru • Dec 19
Global Education Communities Corp., Annual General Meeting, Feb 27, 2026 Global Education Communities Corp., Annual General Meeting, Feb 27, 2026. Location: british columbia, vancouver Canada Duyuru • Aug 11
Global Education Communities Corp. (TSX:GEC) announces an Equity Buyback for 4,000,000 shares, representing 5.93% of its issued share capital. Global Education Communities Corp. (TSX:GEC) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 4,000,000 common shares, representing 5.93% of its issued and outstanding common shares for a total of CAD 1 million. All the repurchased shares under the bid will be cancelled. The plan is valid till August 12, 2026, or on such earlier date as the company may complete its purchases pursuant to the bid or provides notice of termination. As of July 31, 2025, the company had 67,440,040 issued and outstanding common stock. Duyuru • Jul 07
An undisclosed buyer agreed to acquire Sprott-Shaw College Of Business Ltd. from Global Education Communities Corp. (TSX:GEC) for CAD 35 million. An undisclosed buyer agreed to acquire Sprott-Shaw College Of Business Ltd. from Global Education Communities Corp. (TSX:GEC) for CAD 35 million on July 7, 2025. This all-cash transaction results in post-adjustment cash proceeds of approximately CAD 35 million. Following the divestiture of Sprott Shaw College, GECC will retain ownership of Sprott Shaw Language College (SSLC) and Vancouver International College (VIC). Duyuru • Dec 02
Global Education Communities Corp., Annual General Meeting, Feb 07, 2025 Global Education Communities Corp., Annual General Meeting, Feb 07, 2025. Location: british columbia, vancouver Canada New Risk • Nov 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 48% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (€12.3m market cap, or US$13.1m). New Risk • Oct 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 48% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (€13.3m market cap, or US$14.8m). Duyuru • Aug 28
Global Education Communities Corp. announced that it expects to receive CAD 2 million in funding Global Education Communities Corp. announced a non-brokered private placement of convertible debentures for gross proceeds of approximately CAD 2,000,000 on August 27, 2024. The debentures will mature in 24 months of issue and will carry an coupon of 10% per annum and payable quarterly in arrears. The debentures are convertible into common shares at a conversion price of approximately CAD 0.30 per share. The transaction is subject to approval of TSX Venture Exchange. New Risk • Aug 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 48% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (€12.5m market cap, or US$14.0m). Reported Earnings • Jul 16
Third quarter 2024 earnings released: EPS: CA$0.004 (vs CA$0.007 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.004 (up from CA$0.007 loss in 3Q 2023). Revenue: CA$18.4m (down 7.6% from 3Q 2023). Net income: CA$251.0k (up CA$730.0k from 3Q 2023). Profit margin: 1.4% (up from net loss in 3Q 2023). Reported Earnings • Apr 16
Second quarter 2024 earnings released: CA$0.015 loss per share (vs CA$0.021 loss in 2Q 2023) Second quarter 2024 results: CA$0.015 loss per share (improved from CA$0.021 loss in 2Q 2023). Revenue: CA$17.5m (up 2.4% from 2Q 2023). Net loss: CA$982.0k (loss narrowed 30% from 2Q 2023). Duyuru • Mar 20
Global Education Communities Corp. (TSX:GEC) announces an Equity Buyback for 1,000,000 shares, representing 1.48% for CAD 1 million. Global Education Communities Corp. (TSX:GEC) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 1,000,000 common shares, representing 1.48% of its issued and outstanding common shares for a total of CAD 1 million. All the repurchased shares under the bid will be cancelled. The plan is valid till March 21, 2025, or on such earlier date as the company may complete its purchases pursuant to the bid or provides notice of termination. As of March 11, 2024, the company had 67,440,040 issued and outstanding common stock. Duyuru • Feb 24
Global Education Communities Corp. Approves the Appointment of Toby Chu as Director Global Education Communities Corp. at its annual general meeting held on February 23, 2024, approved the appointment of Toby Chu as Director. New Risk • Feb 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 69% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (€16.3m market cap, or US$17.5m). Reported Earnings • Jan 16
First quarter 2024 earnings released: EPS: CA$0.05 (vs CA$0.02 loss in 1Q 2023) First quarter 2024 results: EPS: CA$0.05 (up from CA$0.02 loss in 1Q 2023). Revenue: CA$22.1m (up 21% from 1Q 2023). Net income: CA$3.55m (up CA$4.95m from 1Q 2023). Profit margin: 16% (up from net loss in 1Q 2023). Duyuru • Dec 15
Global Education Communities Corp., Annual General Meeting, Feb 23, 2024 Global Education Communities Corp., Annual General Meeting, Feb 23, 2024. New Risk • Dec 01
New major risk - Revenue and earnings growth Earnings have declined by 74% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 74% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (€15.5m market cap, or US$16.9m). Reported Earnings • Dec 01
Full year 2023 earnings released: CA$0.06 loss per share (vs CA$0.22 loss in FY 2022) Full year 2023 results: CA$0.06 loss per share (improved from CA$0.22 loss in FY 2022). Revenue: CA$78.6m (up 7.3% from FY 2022). Net loss: CA$3.91m (loss narrowed 75% from FY 2022). Duyuru • Aug 02
Global Education Communities Corp. Announces Chief Financial Officer Changes Global Education Communities Corp. reported the appointment of Mr. Paul Harman as GECC's new Chief Financial Officer, effective August 1, 2023, to replace Mr. Hilbert Ng who is stepping down to pursue personal interests and devote more time to his family's business. Mr. Harman holds a Chartered Accountant designation from the Chartered Accountants Australia and New Zealand (CAANZ). He has been GECC's Controller and Vice President of Finance since February 2021. Before joining the Company, Mr. Harman worked at KPMG in Canada and Australia. Reported Earnings • Jul 18
Third quarter 2023 earnings released: CA$0.007 loss per share (vs CA$0.004 profit in 3Q 2022) Third quarter 2023 results: CA$0.007 loss per share (down from CA$0.004 profit in 3Q 2022). Revenue: CA$19.9m (up 5.4% from 3Q 2022). Net loss: CA$479.0k (down 269% from profit in 3Q 2022). Revenue is forecast to grow 9.2% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Consumer Services industry in Europe. New Risk • Jun 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (2.5% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (€19.2m market cap, or US$21.0m). Reported Earnings • Apr 16
Second quarter 2023 earnings released: CA$0.021 loss per share (vs CA$0.004 loss in 2Q 2022) Second quarter 2023 results: CA$0.021 loss per share (further deteriorated from CA$0.004 loss in 2Q 2022). Revenue: CA$17.1m (up 2.5% from 2Q 2022). Net loss: CA$1.40m (loss widened 385% from 2Q 2022). Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Consumer Services industry in Europe. Duyuru • Feb 11
CIBT Education Group Inc. Elects Toby Chu as Director CIBT Education Group Inc. at the annual general meeting held on February 10, 2023, elected Toby Chu as director. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. Member of Advisory Board Dave Richardson was the last 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: Insufficient board refreshment. Reported Earnings • Jan 17
First quarter 2023 earnings released: CA$0.02 loss per share (vs CA$0.003 profit in 1Q 2022) First quarter 2023 results: CA$0.02 loss per share (down from CA$0.003 profit in 1Q 2022). Revenue: CA$18.3m (up 7.4% from 1Q 2022). Net loss: CA$1.40m (down CA$1.64m from profit in 1Q 2022). Duyuru • Dec 09
CIBT Education Group Inc., Annual General Meeting, Feb 10, 2023 CIBT Education Group Inc., Annual General Meeting, Feb 10, 2023. Reported Earnings • Dec 01
Full year 2022 earnings released: CA$0.22 loss per share (vs CA$0.066 profit in FY 2021) Full year 2022 results: CA$0.22 loss per share (down from CA$0.066 profit in FY 2021). Revenue: CA$73.2m (up 20% from FY 2021). Net loss: CA$15.3m (down 426% from profit in FY 2021). Buying Opportunity • Sep 23
Now 33% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €0.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Aug 11
Now 21% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be €0.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jul 15
Third quarter 2022 earnings released: EPS: CA$0.004 (vs CA$0.013 loss in 3Q 2021) Third quarter 2022 results: EPS: CA$0.004 (up from CA$0.013 loss in 3Q 2021). Revenue: CA$18.9m (up 15% from 3Q 2021). Net income: CA$284.0k (up CA$1.18m from 3Q 2021). Profit margin: 1.5% (up from net loss in 3Q 2021). Reported Earnings • Apr 14
Second quarter 2022 earnings released: CA$0.004 loss per share (vs CA$0.092 profit in 2Q 2021) Second quarter 2022 results: CA$0.004 loss per share (down from CA$0.092 profit in 2Q 2021). Revenue: CA$16.7m (up 20% from 2Q 2021). Net loss: CA$288.0k (down 104% from profit in 2Q 2021). Reported Earnings • Jan 15
First quarter 2022 earnings: EPS in line with expectations, revenues disappoint First quarter 2022 results: EPS: CA$0.003 (down from CA$0.014 in 1Q 2021). Revenue: CA$17.1m (up 19% from 1Q 2021). Net income: CA$241.0k (down 77% from 1Q 2021). Profit margin: 1.4% (down from 7.3% in 1Q 2021). Revenue missed analyst estimates by 4.0%. Reported Earnings • Dec 01
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: CA$0.07 (up from CA$0.017 in FY 2020). Revenue: CA$60.9m (down 2.7% from FY 2020). Net income: CA$4.70m (up 283% from FY 2020). Profit margin: 7.7% (up from 2.0% in FY 2020). Revenue missed analyst estimates by 4.0%. 
