Tanco's STI Holdings rides enrollment boom to 45% profit growth over 9 months

Tycoon Eusebio Tanco’s STI Holdings, one of the country’s largest private school operators, grew its net income by 45 percent to P1.62 billion for the nine months ending March 31 this year.

The group generated P4.14 billion in revenues, up 23 percent from a year earlier, after welcoming 138,060 enrollees across its schools, a 15 percent increase from the previous school year.

STI Education Services Group (STI ESG), its largest school group, accounted for over 121,000 enrollees, while STI West Negros University (STI WNU) and iACADEMY posted smaller gains. 

The boost in enrollment was supported by earlier class openings and average tuition hikes of 5 percent at STI ESG and 6.9 percent at STI WNU. 

Gross profit jumped P682.7 million, lifting margins from 70 percent to 73 percent year-on-year. Operating income rose to P1.77 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) hit P2.34 billion, up P577 million from the same period last year. 

With more students and improved margins, STI Holdings is now firmly capitalizing on its scale as a nationwide education brand.