Another strong performance on the back of continued enrolment growth

Johannesburg, 27 March, 2023: Commenting on the results, ADvTECH CEO, Roy Douglas, said: “ADvTECH has delivered a strong set of results for the financial year ended 31 December 2022. This continued trend of delivering a consistent performance is reflective of the quality of our assets, the group’s scale and resilience. Furthermore, the decision to invest in selected African markets is now contributing significantly to operating profit.”


Operational and financial performance

·       Strong financial performance

·       Strong cash generation and sound balance sheet


With good enrolment growth in both the schools and tertiary divisions complemented with increased business activity in the resourcing division, group revenue grew by 18% to R7.0 billion (2021: R5.9. billion). Operating profit increased by 20% to R1 333 million (2021: R1 108 million) with the group operating margin improving to 19.1% (2021: 18.7%). Normalised earnings for the period increased by 20% to R790 million (2021: R656 million) while normalised earnings per share increased by 20% to 145.7 cents (2021: 121.5 cents) per share.


Cash generated by operating activities increased by 11% to R1.8 billion (2021: R1.6 billion), emphasising the inherent cash generating ability of our business.


The group’s expectations are that our growth trend and continuing strong cash generation will continue. Together with a sound balance sheet and reduced borrowings, the board continued with the payment of dividends at a similar cover ratio as in the prior year. The board therefore declared a final dividend of 37.0 cents (2021: 31.0 cents) per ordinary share for the year ended 31 December 2022.


Schools South Africa

·       Good enrolment growth

·       Solid financial performance


Owing to the recognition of the group’s excellence in education, all of our brands, including the premium brands, have shown growth. Revenue increased by 14% to R2.5 billion (2021: R2.2 billion) and operating profit increased by 17% to R484 million (2021: R413 million). The operating margin benefited from improved systems and processes, increasing to 19.4% (2021: 18.9%)


The group recorded exceptional results in the 2022 IEB examinations, resulting in ADvTECH retaining a leadership position in private education in South Africa. ADvTECH’s students achieved an impressive 99.5% pass rate and 90.8% obtained a bachelor degree pass.


Pinnacle Raslouw, in Centurion, opened in January 2023. Enrolments have exceeded expectations necessitating the need to bring forward phase two of the project.


Schools rest of Africa

·       Excellent growth underpinned by a commitment to quality education


The group’s school brands in the rest of Africa continue to experience strong enrolment growth and operational improvements. Revenue increased by 25% to R334 million (2021: R268 million) and operating profit increased by 69% to R80 million (2021: R47 million) with the operating margin improving from 17.7% to 23.9%.


Gaborone International School continues to perform exceptionally well with strong enrolment growth and market leading academic results.

Capacity was increased at the Crawford International in Kenya due to the strong demand owing to their market-leading academic offering. The school’s final year students, completing their A-level qualification, achieved 95% acceptance into international universities in the US, UK, Europe, Canada, Hong Kong, Asia and Australia.


The introduction of The Cambridge International Curriculum at Makini Schools in 2020 has proven successful with enrolments approaching 1000 students. The group continues to invest in refurbishing the sites to improve facilities and to portray a more aspirational appearance.


Tertiary/University division

·       Well established brand portfolio


The ADvTECH tertiary division continues to grow off the back of a well-established, quality brand portfolio that offers a comprehensive range of programmes and qualifications. Revenue increased by 12% to R2.7 billion (2021: R2.4 billion) and operating profit increased by 12% to R680 million (2021: R609 million) with operating margin remaining flat at 25%.


Capacity was increased at the Varsity College campuses in Pretoria and Midrand in response to growing demand. Similarly, buildings adjacent to Rosebank College’s Braamfontein and Pretoria mega campuses were acquired to allow for further growth. 


As mentioned in our half-year results, the Minister of Higher Education and Training published the draft regulations in 2022 setting out the criteria to qualify as a “university”. The group welcomes this development as a positive step as it allows us to plot our path to achieving university status. We will continue to engage with the Department of Higher Education and Training as developments unfold in this regard.


Resourcing division

·       Strong overall performance lead by outstanding performance in the rest of Africa


The strategy to expand into the rest of Africa continues to pay dividends and remains highly cash generative. The division continued to increase its presence and number of placements in 19 countries across the continent. This resulted in revenue increasing by 38% to R1 407 million (2021: R1 018 million) and operating profit by 129% to R89 million (2021: R39 million).


Loadshedding 

With the ongoing challenge of loadshedding in South Africa, we are committed to minimising our environmental impact across all of our operations in South Africa and the rest of Africa. We have successfully implemented various measures to ensure that our ability to deliver high-quality education remains unaffected. Most of our sites have generators and our business has a relatively low electricity usage with costs in this regard remaining contained. We also keep a close eye on our electricity and water usage and track it using meters, while constantly seeking out new opportunities to reduce consumption. We are currently piloting solar solutions at two of our sites to better understand the viability of rolling this out group wide. 

 

Prospects

·       Proven competitive advantage and ability to leverage scale

·       Ongoing demand for quality education


Commenting on the group’s outlook, Douglas said: “ADvTECH remains uniquely positioned to benefit from the continued growth in demand for education in both South Africa and particularly in the rest of Africa. This, together with the good enrolment growth achieved at the start of 2023 in both our schools and tertiary divisions, gives us confidence and an expectation that we will continue on our growth trajectory.”


ADvTECH Updates

By Tamara Thomas July 7, 2025
ADvTECH Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“ADvTECH” or “the Company”) DISPOSAL OF SECURITIES BY CLIENTS OF PUBLIC INVESTMENT CORPORATION SOC LIMITED (“PIC”) AND DIRECTORS RESPONSIBILITY STATEMENT – VOLUNTARY ANNOUNCEMENT In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 as amended and section 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby advised that ADvTECH has received formal notification in the prescribed form that PIC’s clients have, in aggregate, disposed of an interest in the ordinary shares of the Company, such that the total interest in the ordinary shares of the Company held by PIC’s clients has decreased from 20.550% to 19.641% of the total issued ordinary shares of the Company. In terms of section 122(3)(a) of the Act, the Company has also filed notice with the Takeover Regulation Panel.  The board of directors of ADvTECH accepts responsibility for the information contained in this announcement as it relates to the Company and confirms that, to the best of its knowledge and belief, such information relating to ADvTECH is true and that this announcement does not omit anything likely to affect the importance of such information. Johannesburg 7 July 2025 Sponsor: Bridge Capital Advisors Proprietary Limited
By Tamara Thomas July 1, 2025
JSE-listed ADvTECH, Africa’s leading private education provider, is pleased to announce the appointment of John Sikiotis to the role of Group Chief Operating Officer (GCOO), effective 1 August 2025. Sikiotis brings a wealth of experience in strategy, IT, business development and commercial leadership across a wide range of industries in multiple geographies including Africa, the Middle East and Asia. He is a qualified CA(SA) and holds the professional designation of Chartered Financial Analyst. He is also a member of SAICA.  The new role of GCOO has been established to support ADvTECH’s dynamic growth and expanding operations locally and internationally. “John’s strategic expertise and global perspective make him a valuable addition to our leadership team,” commented ADvTECH Group CEO, Geoff Whyte.
By Tamara Thomas June 30, 2025
ADvTECH Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“ADvTECH” or “the Company”) DEALINGS IN SECURITIES BY DIRECTORS, A DIRECTOR OF A MAJOR SUBSIDIARY, PRESCRIBED OFFICERS AND THE GROUP COMPANY SECRETARY In terms of paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements (“JSE Listings Requirements”), the following transactions, in respect of which prior written approval pursuant to paragraph 3.66 of the JSE Listings Requirements have been obtained, is hereby disclosed.
By Tamara Thomas June 27, 2025
ADvTECH Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“ADvTECH” or “the Company”) DEALINGS IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR OF A MAJOR SUBSIDIARY OF THE COMPANY In compliance with the JSE Limited Listings Requirements the following information is disclosed in respect of dealings in ADvTECH securities by an associate of a Director of a major subsidiary (The Independent Institute of Education (Pty) Ltd) of the Company.
By Tamara Thomas June 27, 2025
It is undeniable that AI in education, even though still in relative infancy, has a multiplier effect on student outcomes. An overview of the substantial impact of individualised learning on student performance over the past few years, combined with an insight into daily advances in real life, has the potential to raise concern about the role of human educators in classrooms. Are teachers becoming obsolete? Not quite. While it is true that AI’s role is growing by the day, it is in fact not replacing teachers, but rather changing the role of teachers, an education expert says. “We have, over the past 3 years, seen a 20% improvement in student performance, with AI and individualised learning having become the order of the day,” says Desiree Hugo, Academic Head at ADvTECH Schools. AI in education isn’t a case of students having access to ChatGPT – it is a vastly more considered strategy leveraging proprietary tools and platforms. ADvTECH’s ADvLEARN Intelligent Tutoring System is a prime example, utilising AI to craft individualised learning paths that allow students to advance at their own speed. This system empowers data-guided instruction while fostering independent learning across various subjects. “Adaptive learning technologies leverage data-driven analysis to personalise educational content, pacing, and assessments based on each student's unique needs. These solutions, which include intelligent tutoring systems and learning management platforms, enable educators to tailor instruction efficiently without increasing their workload, when integrated effectively,” says Hugo. “For students, this creates a customised, engaging, and encouraging experience, whether they’re building core skills or exploring complex topics. For educators, it delivers real-time insights to refine teaching approaches, ensuring all students achieve progress.” AI systems are fast moving in the direction of students being able to learn completely independently, which then raises the question – what about the teachers? Will in-person schools still be a thing? Or will future learning consist of young people working alone, in front of their screens? “Adopting best international practices in AI implementation is critical to staying at the forefront of educational excellence. However, the narrative around AI in education must be clear: AI is a powerful tool to support, not replace, teachers,” says Hugo. “The human element in teaching, in particular empathy, creativity, and mentorship, remains irreplaceable, and AI’s role is to enhance these supportive opportunities, ensuring teachers remain central to the learning experience, while time-consuming repetitive tasks become the domain of AI.” The integration of AI into education really is a best-case scenario, allowing overworked teachers to get back to their unique strengths, Hugo says. WHY TEACHERS WILL REMAIN AN IMPORTANT PART OF THE EDUCATIONAL LANDSCAPE While AI excels at processing data and delivering personalised content, it lacks the human qualities that ensures an exceptional, holistic education. In the age of AI, the role of teachers will remain important in the following areas: Emotional connection and empathy - Learning is deeply human, driven by relationships. Teachers understand students’ emotional needs, motivate them through challenges, and celebrate their successes. No algorithm can replicate the encouragement of a teacher who notices a student’s potential or the trust built through years of mentorship. Fostering creativity and critical thinking - AI can provide information, but teachers guide students to question, innovate, and think critically. In a world increasingly shaped by AI, skills like ethical reasoning, collaboration, and creative problem-solving, nurtured by teachers, are essential. Curricula, like the IEB, IB and Cambridge systems, emphasize these skills, and ADvTECH’s commitment to global standards positions its teachers as key drivers of this development. Cultural and contextual nuance - South Africa’s diverse educational landscape requires teachers who understand local contexts, languages, and cultural dynamics. Teachers bridge the gap between AI and real-life context, ensuring learning is relevant and inclusive. “The fear that AI will replace teachers stems from a misunderstanding of its purpose, combined with the stunning realisation of its ability to improve student outcomes. But AI is not a substitute for human connection. Rather, it is a catalyst for unlocking teacher potential. It empowers teachers to do what they do best: inspire, guide, and transform lives.  “Imagine a classroom where AI handles repetitive tasks, provides real-time student insights, and suggests tailored resources, while the teacher focuses on sparking debates, nurturing talents, and building confidence. This is the future that educational institutions must champion - a future where technology supports human excellence, not replaces it.”
By Tamara Thomas June 25, 2025
ADvTECH Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“ADvTECH” or “the Company”) DEALINGS IN SECURITIES BY A PRESCRIBED OFFICER AND THE COMPANY SECRETARY OF THE COMPANY In compliance with the JSE Limited Listings Requirements the following information is disclosed in respect of dealings in ADvTECH securities by a Prescribed Officer and the Company Secretary of the Company.
By Tamara Thomas June 23, 2025
ADvTECH Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“ADvTECH” or “the Company”) DEALINGS IN SECURITIES BY PRESCRIBED OFFICERS AND ASSOCIATE OF A PRESCRIBED OFFICER OF THE COMPANY In compliance with the JSE Limited Listings Requirements the following information is disclosed in respect of dealings in ADvTECH securities by ADvTECH Prescribed Officers and an associate of a Prescribed Officer.
By Tamara Thomas June 20, 2025
ADvTECH Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“ADvTECH”) DEALINGS IN SECURITIES BY PRESCRIBED OFFICERS, A DIRECTOR OF A MAJOR SUBSIDIARY, AND COMPANY SECRETARY: SHARE VESTING In compliance with the JSE Limited Listings Requirements, the following transactions relating to prescribed officers, director of a major subsidiary and company secretary dealings are hereby disclosed, in terms of the provisions of the ADvTECH Management Share Incentive Scheme (MSI), regarding performance and retention shares that have vested after 3 years.
By Tamara Thomas June 19, 2025
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By Tamara Thomas June 10, 2025
Monde Nkosi presents his latest episode of the Education Investment Podcast in video on YouTube and audio on Spotify, Apple and all major podcast platforms https://linktr.ee/educationinvestment?utm_source=linktree_admin_share In this episode, Leading a Schools and Higher Education Group with Geoff Whyte (CEO of ADvTECH Group), we explore leadership in a combined schools and higher education group serving more than 100,000 students across multiple countries including South Africa, Kenya, Botswana and Ethiopia. Geoff presents his investment and social impact case for ADvTECH and independent education. Geoff also shares some personal stories about his journey from growing up in Scotland; to living and working in multiple countries including England, Russia and the Netherlands; and moving to South Africa in the late 1990s. 
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