STADIO Holdings Limited will deliver a comprehensive voluntary business update during its annual general meeting (AGM) held today. The AGM, conducted entirely through electronic communication, featured a presentation by Mr. Chris Vorster, the Chief Executive Officer of the company, highlighting key achievements, strategy implementation, and the growth trajectory of the STADIO Group.
Shareholders will be provided access to the voluntary business update presentation, which will be available on the STADIO Group’s official website (www.stadio.co.za) from 10:00 on June 22, 2023. Here are the key points to be discussed during the presentation:
1. Overview of 2022: Despite the challenging economic climate in South Africa, the STADIO Group showcased commendable performance throughout 2022. The company achieved positive results and demonstrated resilience in the face of adverse conditions.
2. Update on Strategy Implementation: STADIO shared progress updates on its ongoing strategic initiatives. The company outlined its efforts to execute the formulated strategy effectively, emphasizing its commitment to delivering a high-quality education experience to its students.
3. Overview of the STADIO Group’s Growth Strategy: During the AGM, STADIO provided insights into its growth strategy, outlining the path for expansion and enhancement of its educational offerings. The company is focused on leveraging its strengths and market opportunities to further establish itself as a leader in the higher education sector.
4. Semester One Student Numbers for 2023: The presentation included an overview of student numbers for the first semester of 2023. The following table illustrates the student enrollment figures according to the learning delivery modes:
|MODE OF LEARNING DELIVERY||26 May 2023||Growth|
- Distance learning student numbers exhibited steady growth, increasing by 10% annually. The ongoing second semester intake further contributes to this positive trend.
- Contact learning student numbers demonstrated a 2% growth, reversing the decline observed in the previous year.
- The STADIO Group experienced a remarkable 15% increase in new contact learning student numbers from June 2022 to May 2023. Stadio Higher Education, a subsidiary, achieved an impressive 35% growth in new contact learning students.
- However, a 4% decline in returning contact learning students offset some of the gains. This decline can be attributed to lower intakes in prior years due to the impact of COVID-19, the closure of contact learning offerings at Milpark Education, and the phasing out of certain programs.