STI income surges 45% on more enrollees

More enrollees in its school network boosted the earnings of STI Education Systems Holdings Inc. in the first nine months of its fiscal year.

In a stock exchange filing on Thursday, STI said its bottom line had jumped by 45 percent to P1.62 billion for the period starting July 2024.

Its revenues likewise soared by 23 percent to P4.14 billion.

According to STI, the “significant” income hike was because of higher enrollment numbers, particularly in STI Education Services Group (ESG) and STI West Negros University (WNU).

During the period, total student population reached 138,060, up by 15 percent.

Students at STI ESG accounted for 88 percent of the total population, or 121,374, across owned and franchised schools. This represents a 17-percent uptick versus the previous school year.

STI WNU had 14,503 students, up by a tenth. Total enrollees at iACADEMY, which offers specialized programs in computing, business and design, stood at 2,183, down 2 percent.

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Earnings before interest, taxes, depreciation and amortization jumped by 32 percent to P2.34 billion.

In the January to March period alone, STI’s top line rose by 8 percent to P1.51 billion, while its net income grew by nearly a fifth to P706.6 million.

STI in February broke ground for its P950-million Academic Center in Alabang, Muntinlupa City that is expected to accommodate up to 10,000 students by 2026. The company is also currently building the P558.4-million STI Academic Center Tanauan in Batangas province. Opening next year, it will house up to 6,000 students.