Evolve Education Group Limited (NZX:EVO) Annual Report 2021



The latest annual report of Evolve Education Group Limited (EVO) was published on 31 Dec 2021. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - EVO Annual Results

Amounts in NZD

Total Revenue
157.96M
Gross Profit
140.17M
EBIT
22.69M
Net Tangible Assets
-28.61M
Net Income
741k
Capital Expenditures
-3.27M

EVO Income Statement 2021 Annual Report

As per the latest Income Statement of EVO, the Net revenue increased by $21.11M (15%) compared to the previous period. The operating income in 2021 increased by $10.64M (88%). The net income as per the annual report was 741k which decreased by $-9.35M (-93%) compared to previous year.

Income Statement Report (2021/2020)

20212020
Total Revenue157.96M136.85M
Gross Profit140.17M123.02M
Operating Income22.69M12.05M
Income Before Tax1.47M13.82M
Net Income741k10.09M

Balance Sheet - EVO 2021 Annual Report

Read further: EVO Balance Sheet Detailed Analysis

The latest balance sheet from annual result of Evolve Education Group Limited showed the company reduced the cash on balance sheet by $-11.56M (-20%). The Net tangible assets of EVO on the balance sheet were at -28.61M which is $-20.42M (-249%) less than previous annual report. The total stockholder equity also increased by $22.38M (20%) compared to previous reporting period.

Balance Sheet Statement Report (2021/2020)

20212020
Cash47.58M59.14M
Total Assets425.02M 374.47M
Long Term Debt36.22M36.14M
Total Liabilities293.13M 264.96M
Total Shareholder Equity131.88M109.51M
Net Tangible Assets-28.61M-8.19M

Cash Flow Statement - EVO 2021 Annual Report

The 2021 annual cash flow statement of Evolve Education Group Limited showed that the net income decreased by $-9.35M (-93%) compared to previous reporting period. Also the capital expenditure of EVO decreased by $-186001 (-6%).

As of 2021, the total cash from investing activities was -42.11M and total cash from financing activities was -6.45M.

Cash Flow Statement Report (2021/2020)

20212020
Net Income741k10.09M
Capital Expenditures-3.27M-3.08M
Dividends Paid--
Total Cash From From Investing Activities-42.11M-8.53M
Total Cash From From Financing Activities-6.45M-440k

Evolve Education Group Limited Annual Report History

Income Statement

Income Statement history of Evolve Education Group Limited (NZX:EVO)

31 Dec 202131 Dec 202031 Mar 202031 Mar 2019
Total Revenue157.96M136.85M140.61M137.18M
Cost Of Revenue17.79M13.84M14.51M13.53M
Gross Profit140.17M123.02M126.09M123.65M
Research Development----
Selling General Administrative100.22M93.35M93.87M107.04M
Non Recurring----
Other Operating Expenses2.5M3.04M4.29M4.28M
Total Operating Expenses135.27M124.81M126.68M127.9M
Operating Income22.69M12.05M13.92M9.28M
Total Other Income Expense Net-21.22M1.77M-31.35M-109.9M
Ebit22.69M12.05M13.92M9.28M
Interest Expense-20.45M-16.94M-19.59M-2.91M
Income Before Tax1.47M13.82M-17.43M-100.63M
Income Tax Expense731k3.72M-4.13M1.77M
Minority Interest----
Net Income From Continuing Ops741k10.09M-13.3M-102.4M
Discontinued Operations---845k
Extraordinary Items----
Effect Of Accounting Charges----
Other Items----
Net Income741k10.09M-13.3M-101.55M
Net Income Applicable To Common Shares741k10.09M-13.3M-101.55M

Balance Sheet Statement

Balance Sheet Statement history of Evolve Education Group Limited (NZX:EVO)

31 Dec 202131 Dec 202031 Mar 202031 Mar 2019
Cash47.58M59.14M39.05M25.27M
Net Receivables1.69M1.08M14.53M1.52M
Other Current Assets2.98M--672k
Total Current Assets53.68M61.65M54.19M29.56M
Long Term Investments5.1M4.07M--
Property Plant Equipment191.69M178.04M185.02M5.82M
Good Will157.28M114.51M113.86M95.29M
Intangible Assets3.21M3.19M3.22M3.32M
Other Assets14.06M13.02M11.93M2.15M
Deferred Long Term Asset Charges14.06M13.02M11.93M2.15M
Total Assets425.02M374.47M368.22M136.14M
Accounts Payable1.05M1.81M504k339k
Other Current Liab20.68M9.12M26.83M18.57M
Long Term Debt36.22M36.14M17.67M25.36M
Total Current Liabilities42.29M28.63M47.8M59.1M
Total Liab293.13M264.96M267.44M84.46M
Common Stock260.01M237.98M237.98M159.6M
Retained Earnings-127.71M-128.45M-136.02M-107.92M
Treasury Stock-417k-16k-1.17M-
Other Stockholder Equity-417k-16k-1.17M-
Total Stockholder Equity131.88M109.51M100.78M51.68M
Net Tangible Assets-28.61M-8.19M-16.3M-46.93M

Cash Flow Statement

Cash Flow Statement history of Evolve Education Group Limited (NZX:EVO)

31 Dec 202131 Dec 202031 Mar 202031 Mar 2019
Net Income741k10.09M-13.3M-101.55M
Depreciation14.7M14.49M13.85M3.06M
Change To Netincome14.18M15.13M21.87M107.96M
Change To Liabilities7.8M-25.62M11.63M1.04M
Change To Operating Activities1.64M15.67M-10.37M-2.42M
Total Cash From Operating Activities38.89M34.38M23.69M7.56M
Capital Expenditures-3.27M-3.08M-4.52M-3.56M
Investments-1.03M-5.42M-5.42M-5.42M
Total Cashflows From Investing Activities-42.11M-8.53M-25.36M-4.16M
Net Borrowings-8.07M18.43M-44.19M23.06M
Other Cashflows From Financing Activities-21.9M-18.87M-23.46M-3.42M
Total Cash From Financing Activities-6.45M-440k15.45M16.51M
Effect Of Exchange Rate-1.89M1.38M1.38M1.38M
Change In Cash-11.56M26.79M13.77M19.91M
Issuance Of Stock23.52M23.52M83.1M83.1M
Dividends Paid----3.03M