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Kroton Reaffirms its Guidance for 2019
R$ million and %
Adjusted EBITDA Margin
Adjusted Net Income2
Adjusted Net Margin
Cash Generation After Capex
OCG after Capex
Conversion (with IFRS 16)
Conversion (without IFRS 16)
EBITDA considers interest and penalties on tuition and excludes the impact from Surplus Value of Inventories
Net income excludes the impacts from Surplus Value of Inventories and Amortization of Intangible Assets
2H is seasonally stronger for Primary & Secondary Education
2H will benefit from:
More robust Net Revenue, influenced by the seasonality in the Primary and Secondary Education segment (PNLD 2020 and postponement of the Literary PNLD), in addition to the 2H19 enrollment process in the Postsecondary Education segment
Complete capture of synergy and efficiency levers which were implemented throughout 1H and will benefit the entire 2H
Lower marketing expenses in Primary & Secondary Education
Revenue from governmental programs is more relevant in 2H:
PNLD: ~90% of the total for the year
FIES: ~60% of the total for the year
Lower disbursements with Capex and Non-Recurring Expenses due to:
Improvement in average payment term in 2018
Lower payment term of marketing expenses, anticpated in 1H19
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Kroton Educacional SA published this content on 14 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2019 14:11:00 UTC