2021-12-02
MANILA â STI Holdings, owner of one of the country’s largest networks of schools, reported an 18% increase in its overall enrollment to 82,629 students for School Year (SY) 2021-2022 from 70,223 in SY 2020-2021.
Based on the company’s disclosure to the Philippine Stock Exchange, the total figure was boosted by the robust 40% surge in tertiary enrollment to 56,342 students from 40,176 in the previous SY.
Meanwhile, Bacolod City-based STI WNU had the largest enrollment increase among the Group’s member schools, registering a 36% jump to 7,580 this SY from 5,584 previously.
The increase in enrollment was still achieved even as classes are still being fully conducted online at the start of the current SY with the Philippines and the rest of the world adjusting to the “new normal” way of life.
Online classes are being conducted under the ONline and ONsite Education at STI (ONE STI) Learning Model for the STI Education Services Group (STI ESG) and STI WNU, and the Guided Online Autonomous Learning (GOAL) program for iACADEMY.
Classes for tertiary and senior high school (SHS) students of STI ESG and STI WNU began on September 13, 2021, while STI WNU’s School of Graduate Studies started on October 2. iACADEMY’s SHS and tertiary classes began on August 4 and 31, respectively.
“The significant growth in enrollment can be attributed to the Group’s consistent enrollment strategies, aggressive recruitment, and innovative online learning delivery and world-class curriculum that are responsive to the trends and challenges in the country’s educational landscape,” said STI Holdings President and CEO Monico V. Jacob.
“The COVID-19 pandemic indeed remains in our midst, but the significant leap in our enrollment figures serves as a ray of hope for us. Clearly, people want to regain a semblance of normalcy while we are still practicing health and safety protocols for our students, faculty, staff, and other members of the STI Holdings community â whether online or offline. We remain committed to advancing the education of our students in a post-pandemic world, especially with the gradual reopening of our economy amid the downtrend in new daily COVID-19 cases,” he added.
With the increase in enrollment, the Group improved its financial performance year-on-year. Gross profit from July 1 to September 30 this year soared by 61% to Php186.9 million from Php115.8 million in the same period last year. Gross revenues also went up by 27% to Php375.3 million from Php296.6 million previously.
The Group also registered an improved EBITDA, or earnings before interest, taxes, depreciation, and amortization, at Php44.4 million for the quarter from Php4.1 million registered during the same period last year and a lower net loss for the current period at Php116.7 million from Php203.0 million previously.
The period from July 1 to September 30 serves as STI Holdings’ first quarter of its fiscal year (FY). The Group’s FY starts on July 1 of the current calendar year (CY) and ends on June 30 of the following CY. Being in the business of education, STI Holdings’ FY follows that of its SY.
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STI Education Systems Holdings, Inc. (STI Holdings) has three subsidiaries involved in education: the STI Education Services Group (STI ESG), STI WNU, and iACADEMY.
STI ESG offers associate and baccalaureate degrees and technical-vocational programs in the fields of Information and Communications Technology, Business and Management, Hospitality Management, Tourism Management, Arts and Sciences, Engineering and Education. It also offers senior high school. STI ESG was given government permits to offer Bachelor of Science in Retail Technology and Consumer Science Program and the 2-year Associate in Retail Technology Program starting SY 2020-2021.
STI WNU offers programs and courses ranging from basic education to graduate levels. Founded on February 14, 1948, STI WNU was granted its university status by the Commission on Higher Education on February 11, 2008. STI WNU’s campus sits on a 3.1-hectare property in the heart of Bacolod City.
iACADEMY is the premier school in the group that has senior high school and college programs centered on computing, business, and design. It offers specialized courses such as software engineering, game development, animation, multimedia arts and design, film and visual effects and real estate management. It is offering three new programs beginning SY 2020-2021, namely: Bachelor of Science in Computer Science major in Data Science, Bachelor of Science in Computer Science major in Cloud Computing and, in partnership with PwC, Bachelor of Science in Accountancy.
