STI earns P73 million in Q3

MANILA, Philippines — STI Holdings, a leading operator of private schools in the country, reported a net income of P72.7 million from July to September, higher than the previous year’s P44.4 million.

Revenue stood at P500.4 million for the period, 34 percent higher than the P372.8 million it generated during the same period last year, STI Holdings said in a disclosure to the Philippine Stock Exchange.

“The increase in revenues was mostly brought about by the increase in enrollment, as well as improvement in the enrollment mix, with majority of students availing of courses regulated by the Commission on Higher Education,” it said.

STI Holdings said enrollment in its schools reached 94,312 compared to 82,629 for school year 2021 to 2022.

This represents a 14 percent or 11,683 increase from the SY 2021 to 2022 enrollment, with the number of students in the programs regulated by CHED showing a robust 18 percent increase from 56,342 students in the previous school year to 66,309 this school year.

STI Holdings’ fiscal year starts on July 1 of every calendar year and ends on June 30 of the following calendar year. It follows the school calendar in the Philippines.

Apart from the surge in revenues, STI Holdings also posted P117.1 million in earnings before interest, taxes, depreciation and amortization, or EBITDA.

STI Holdings has three subsidiaries involved in education: the STI Education Services Group, STI West Negros University and iAcademy.

STI ESG offers associate and baccalaureate degrees and technical-vocational programs while STI WNU offers programs and courses ranging from basic education to graduate levels.

iAcademy has senior high school and college programs centered on computing, business and design.