Evolve Education Group Limited (NZX/ASX: EVO) Shareholder Update

Evolve Education Group Limited (NZX/ASX: EVO) wishes to advise the following:

Guidance for The Period 1 January 2020 to 30 September 2020

EVO advises that underlying EBITDA for the period 1 January 2020 to 30 September 2020 will be within the range NZ$14.4m to NZ$14.8m on an unaudited, pre IFRS16 basis.

EVO is providing guidance for the nine months from 1 January 2020 to 30 September 2020 only (being the YTD period of our new financial year following the recent change in balance date). EVO is not providing guidance for CY21.

Acquisitions Going Forward

EVO has previously advised that the company intends to grow by acquiring existing early learning child education centres – particularly in Australia. To that end, EVO raised approximately $83m from the issue of new equity during CY19. Of the $83m raised, $38m was used to partly pay down its debt facility held with ASB Bank with the balance being held in cash for acquisitions. EVO expects to provide further information about centre acquisitions in the near future.

See the links below for more details:

EVO Shareholder Update 9 Nov 2020

Source: Evolve Education Group Limited

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