SÃO PAULO--(BUSINESS WIRE)--Vasta Platform Limited (NASDAQ: VSTA) – “Vasta” or the “Company” announces today its financial and operating results for the first quarter of 2025 (1Q25) ended March 31, 2025. Financial results are expressed in Brazilian Reais and are presented in accordance with International Financial Reporting Standards (IFRS).
HIGHLIGHTS
- In the 2025 sales cycle to date (which commenced 4Q24 through 1Q25), net revenue increased 11% to R$1,129 million compared to the same period of the 2024 sales cycle, mostly due to the conversion of Annual Contract Value (“ACV”) bookings into revenue in the period. In 1Q25, net revenue totaled R$430 million, a 7% decrease compared to the same period in the previous year.
- Vasta’s accumulated subscription revenue in the 2025 sales cycle to date year totaled R$1,019 million, a 17% increase compared to the previous year’s sales cycle. Complementary solutions net revenue in the 2025 sales cycle increased 24%, to R$223 million, compared to the 2024 sales cycle.
- The business unit of Brazilian public-school sector (B2G) continues to generate new contracts and new revenues for Vasta. In this growth avenue, we achieved R$ 5.0 million in revenue in 1Q25 with revenues coming from new contracts, compared to R$69 million in 1Q2024, when the totality of Pará contract (1st and 2nd Semester) was booked all at once. In 2025 cycle, 1st Semester of Pará contract was booked in 4Q2024 and 2nd Semester is expected to be performed throughout the year.
- In the 2025 sales cycle to date, Adjusted EBITDA grew by 5% to R$420 million, from R$402 million in the same period of the 2024 sales cycle, and Adjusted EBITDA Margin decreased by 2.4 p.p., from 39.6% to 37.2%. In 1Q25, Adjusted EBITDA totaled R$121 million, a decrease compared to R$162 million in 1Q24, and Adjusted EBITDA Margin achieved 28.2%, 7 p.p. lower than 1Q2024, because of different seasonality in 2025 B2G revenues , as explained above, and higher marketing expenses.
- Vasta recorded an Adjusted Net Profit of R$140 million in the 2025 sales cycle to date, a 4% decrease compared to R$146 million in the 2024 sales cycle. In 1Q25, Adjusted Net Profit totaled R$26 million, a 49% decrease compared to R$50 million in 1Q24.
- Free cash flow (FCF) totaled R$144 million in the 2025 sales cycle to date, a R$92 million increase from R$52 million in the 2024 sales cycle. In 1Q25 FCF totaled R$74 million, a 42% increase from R$52 million in 1Q24. The last twelve-months (LTM) FCF/Adjusted EBITDA conversion rate improved from 42.5% to 50.8%, as a result of Vasta’s growth and implementation of sustained efficiency measures. Additionally, First semester of 2025 will benefit from early collections regarding 2025 sales cycle, which will be normalized throughout the year.
- Mr. Mario Ghio, former Vasta´s CEO, resigned from his board member position to pursue personal projects. Mr. Guilherme Melega was appointed by the Board to replace him as board member.
MESSAGE FROM MANAGEMENT
The 1Q25 results represent the halfway through of the 2025 sales cycle, where we continue to deliver relevant financial results. In the 2025 sales cycle to date, net revenue increased 11% to R$1,129 million, compared to the same period of the 2024 sales cycle, mostly due to the conversion of ACV into revenue.
Vasta’s accumulated subscription revenue in the 2025 sales cycle to date totaled R$1,019 million, a 17% increase compared to the previous sales cycle. Our complementary solutions have seen important growth of 24% in the 2025 sales cycle when compared to the same period of 2024, with an accelerated increase in both student base and market penetration. The partners-school base that uses our complementary solutions increased to an aggregate of 2,149 schools.
Start-Anglo bilingual school operations, which have already achieved R$4,3 million of the subscription revenue in the 2025 sales cycle, started showing results and despite the small net revenue in relation to total company, these numbers reinforce the importance of Start Anglo in our future business and demonstrate an important source of revenue for the coming years. In a short time, it has evolved from concept to reality, with 7 operating units in 2025. We have already signed more than 40 contracts, and we expect these units will be operational in the coming years and we have been working to convert in contract our strong pipeline, with more than 300 prospects.
Our technology platform, Plurall, has achieved a new stage of development and service delivery. In the last year, we delivered new features to teachers, schools, and students, using artificial intelligence powered by AWS (Amazon Web Services). In 2025, it was already created more than 1.4 million objects (questions, slides, pictures, tests) using our AI features, and our intelligent assistant "Plu" has been supporting students to have a personalized learning experience by responding to questions about specific subjects and assisting them in their daily study time. For teachers, Plu will be a personalized partner and will streamline activities such as creating presentations, slides, videos, questions, lesson plans, and teaching materials. We have been working on improving our platform focused on creating an Individualized Educational Plan (IEP), and Plurall is expected to be able to generate personalized pedagogical recommendations (to be implemented in 2026) and assist teachers and schools in inclusive practices, providing an innovative solution to help educators transform challenges into opportunities for growth. Focused on the concepts of inclusion, diversity, and equity in continuous education, Plurall AI advances towards creating a welcoming educational environment for all students.
In the B2G segment, this quarter we achieved R$ 5 million in net revenue, coming from 5 new contracts. In 1Q24, we achieved R$ 69 million, when the totality of Pará contract (1st and 2nd Semester) was booked all at once. In 2025 cycle, 1st Semester of Pará contract was booked in 4Q24 and 2nd Semester is expected to be performed throughout the year. We remain confident in our strategy to have a positive impact on public education, serving this segment and its students with our extensive portfolio of core content solutions, digital platform, and additional offerings, along with the custom learning solutions developed over decades in the private sector.
The continued growth of the company's profitability was another highlight of the 2025 sales cycle to date as the Adjusted EBITDA grew by 5% to R$420 million compared to R$402 million in the previous year, and Adjusted EBITDA Margin decreased from 39.6% in the same period of the 2024 sales cycle to 37.2% in the 2025 sales cycle to date. In proportion to net revenue, gross margin decreased 3.2 p.p. in the sales cycle to date, mainly due to a different seasonality in 2025 B2G revenues, as explained above, and higher marketing expenses related to business expansion.
The company’s cash flow generation was one of the main highlights of the 2025 sales cycle to date. Free cashflow (FCF) totaled R$144 million, a R$92 million increase from R$52 million at the same point of the 2024 sales cycle. The last twelve-month (LTM) FCF/Adjusted EBITDA conversion rate improved from 42.5% to 50.8% as a result of Vasta’s growth and implementation of sustained efficiency measures. Additionally, first semester of 2025 will benefit from early collections regarding 2025 sales cycle, which will be normalized throughout the year.
It is worth saying that these measures include certain improvements in our collection processes, including process automation, reminders and past-due notifications, customer segmentation, and faster renegotiation of delayed receivables. On the payments side, we implemented several initiatives to achieve better discipline in payments, such as rigorous financial planning, centralization of payments on single monthly dates, and negotiating longer payment terms with suppliers.
Moreover, we continue to make progress on deleveraging the company. The net debt/LTM adjusted EBITDA of 2.06x as of the end of 1Q25 shows a downward trend being 0.16x less than as of 1Q24.
OPERATING PERFORMANCE
Student base – subscription models
2025 |
|
2024 |
|
% Y/Y |
|
2023 |
|
% Y/Y |
||
Partner schools - Core content |
5,025 |
|
4,744 |
|
5.9% |
|
5,032 |
|
(5.7%) |
|
Partner schools – Complementary solutions |
2,149 |
|
1,722 |
|
24.8% |
|
1,383 |
|
24.5% |
|
Students - Core content |
1,489,698 |
|
1,432,289 |
|
4.0% |
|
1,539,024 |
|
(6.9%) |
|
Students - Complementary content |
563,525 |
|
483,132 |
|
16.6% |
|
453,552 |
|
6.5% |
|
Note: Students enrolled in partner schools |
||||||||||
As we conclude the period of return of collections, we update the number of partner schools and enrolled students for the 2025 sales cycle. In this sales cycle, Vasta provides approximately 1.5 million students with core content solutions and more than 560,000 students with complementary solutions. This is aligned with the company’s strategy to focus on improving its client base in 2025 through a better mix of schools and growth in premium education systems (Anglo, PH, Amplia and Fibonacci), brands with higher average ticket, lower defaults, greater adoption of complementary solutions and longer-term relationships.
FINANCIAL PERFORMANCE
Net revenue
Values in R$ ‘000 |
1Q25 |
|
1Q24 |
|
% Y/Y |
|
2025 cycle |
|
2024 cycle |
|
% Y/Y |
|
Subscription |
400,132 |
|
357,387 |
|
12.0% |
|
1,019,444 |
|
872,247 |
|
16.9% |
|
Core content |
|
352,613 |
|
308,292 |
|
14.4% |
|
795,552 |
|
692,004 |
|
15.0% |
Complementary solutions |
|
47,519 |
|
49,095 |
|
(3.2%) |
|
223,892 |
|
180,243 |
|
24.2% |
B2G |
25,045 |
|
34,298 |
|
(27.0%) |
|
68,827 |
|
73,546 |
|
(6.4%) |
|
Non-subscription |
|
5,215 |
|
69,031 |
|
(92.4%) |
|
41,050 |
|
69,031 |
|
(40.5%) |
Total net revenue |
430,392 |
|
460,716 |
|
(6.6%) |
|
1,129,321 |
|
1,014,824 |
|
11.3% |
|
% Subscription |
|
93.0% |
|
77.6% |
|
15.4p.p. |
|
90.3% |
|
86.0% |
|
4.3p.p. |
Note: n.m.: not meaningful |
||||||||||||
In 1Q25, Vasta’s net revenue totaled R$430 million, a 6.6% decrease compared to 1Q24, mainly due to lower revenue from B2G. In the 2025 sales cycle to date (4Q24 and 1Q25), Vasta’s net revenue totaled R$1,129 million, an 11.3% increase compared to the same period of the 2024 sales cycle. Subscription revenue grew 16.9% in the 2025 sales cycle to date, mostly due to the conversion of ACV into revenue.
EBITDA
Values in R$ ‘000 |
1Q25 |
|
1Q24 |
|
% Y/Y |
|
2025 cycle |
|
2024 cycle |
|
% Y/Y |
|
Net revenue |
|
430,392 |
|
460,716 |
|
(6.6%) |
|
1,129,321 |
|
1,014,824 |
|
11.3% |
Cost of goods sold and services |
|
(141,213) |
|
(140,083) |
|
0.8% |
|
(409,225) |
|
(335,526) |
|
22.0% |
General and administrative expenses |
|
(132,690) |
|
(139,902) |
|
(5.2%) |
|
(239,924) |
|
(235,553) |
|
1.9% |
Reversal of tax contingencies |
|
- |
|
- |
|
n.m. |
|
92,558 |
|
- |
|
n.m. |
Commercial expenses |
|
(97,699) |
|
(73,260) |
|
33.4% |
|
(169,880) |
|
(140,388) |
|
21.0% |
Other operating (expenses) income |
|
64 |
|
1,785 |
|
(96.4%) |
|
(9,276) |
|
2,352 |
|
(494.4%) |
Share of loss equity-accounted investees |
|
(1,922) |
|
(3,060) |
|
(37.2%) |
|
(4,503) |
|
(16,183) |
|
(72.2%) |
Impairment losses on trade receivables |
|
(12,546) |
|
(13,205) |
|
(5.0%) |
|
(34,350) |
|
(42,199) |
|
(18.6%) |
Profit before financial income and taxes |
|
44,386 |
|
92,991 |
|
(52.3%) |
|
354,721 |
|
247,328 |
|
43.4% |
(+) Depreciation and amortization |
|
72,036 |
|
65,533 |
|
9.9% |
|
142,734 |
|
136,563 |
|
4.5% |
EBITDA |
|
116,422 |
|
158,524 |
|
(26.6%) |
|
497,455 |
|
383,891 |
|
29.6% |
EBITDA Margin |
|
27.1% |
|
34.4% |
|
(7.4 p.p.) |
|
44.0% |
|
37.8% |
|
6.2 p.p. |
(+) Layoff related to internal restructuring |
|
255 |
|
501 |
|
(49.1%) |
|
339 |
|
980 |
|
(65.4%) |
(+) Share-based compensation plan |
|
4,701 |
|
3,334 |
|
41.0% |
|
6,730 |
|
3,229 |
|
108.4% |
(+) M&A adjusting expenses |
|
- |
|
- |
|
0.0% |
|
8,271 |
|
13,776 |
|
(40.0%) |
(-) Reversal of tax contingencies |
|
- |
|
- |
|
0.0% |
|
(92,558) |
|
- |
|
0.0% |
Adjusted EBITDA |
121,378 |
|
162,359 |
|
(25.2%) |
|
420,237 |
|
401,876 |
|
4.6% |
|
Adjusted EBITDA Margin |
28.2% |
|
35.2% |
|
(7.0 p.p.) |
|
37.2% |
|
39.6% |
|
(2.4 p.p.) |
|
Note: n.m.: not meaningful |
||||||||||||
In the 2025 sales cycle to date, Adjusted EBITDA reached R$420 million, representing an increase of 4.6% in comparison to the same period of the 2024 sales cycle, with a margin of 37.2%, compared to 39.6% in the same period of the 2024 sales cycle. This increase in Adjusted EBITDA was mainly driven by gains in operating efficiency and a sales mix that benefited from the growth of subscription products, compensating for lower net revenue in the B2G segment. In 1Q25, Adjusted EBITDA totaled R$121 million, a 25.2% decrease compared to R$162 million in 1Q24, mainly impacted by lower net revenue in the B2G segment and higher marketing expenses, substantially linked to the seasonal effect of commissions to be paid on e-commerce net revenue.
In the 2025 cycle to date, the Company proceeded with the partial reversal of the tax contingencies, based on the opinion of its legal advisors, related to the discussions of goodwill and other subjects derived from the acquisition of the Anglo Group in 2010 and subsequent restructuring. Company decided to partially reverse certain provisions in the total amount of R$ 532,717, comprising (i) R$ 92,558 reversals of the principal portion, which impacted positively our general and administrative expenses (ii) R$ 233,198 reversals of the income tax and social contribution, (iii) R$ 206.961 reversal of interest and fines, in the Finance result.
(%) Net Revenue |
1Q25 |
|
1Q24 |
|
Y/Y (p.p.) |
|
2025 cycle |
|
2024 cycle |
|
Y/Y (p.p.) |
|
Gross margin |
|
67.2% |
|
69.6% |
|
(2.4 p.p.) |
|
63.8% |
|
66.9% |
|
(3.2 p.p.) |
Adjusted cash G&A expenses (1) |
|
(13.4%) |
|
(15.6%) |
|
2.2 p.p. |
|
(8.5%) |
|
(9.3%) |
|
0.9 p.p. |
Commercial expenses |
|
(22.7%) |
|
(15.9%) |
|
(6.8 p.p.) |
|
(15.0%) |
|
(13.8%) |
|
(1.2 p.p.) |
Impairment on trade receivables |
|
(2.9%) |
|
(2.9%) |
|
(0.0 p.p.) |
|
(3.0%) |
|
(4.2%) |
|
1.1 p.p. |
Adjusted EBITDA margin |
|
28.2% |
|
35.2% |
|
(7.0 p.p.) |
|
37.2% |
|
39.6% |
|
(2.4 p.p.) |
(1) Sum of general and administrative expenses, other operating income and profit (loss) of equity-accounted investees, less: depreciation and amortization, layoffs related to internal restructuring, share-based compensation plan and M&A one-off adjusting expenses. |
||||||||||||
Gross margin decreased 3.2 p.p. in the sales cycle to date mainly due to lower net revenue in the period. Adjusted cash G&A expenses reduced by 0.9 p.p. driven by workforce optimization and budgetary discipline, while Commercial expenses increased by 1.2 p.p. driven by higher expenses related to business expansion and marketing investments. Impairment on trade receivable (PDA), which the Company booked in 4Q23 as additional provision for expected credit losses related to customers in mainstream brands, reduced by 1.1 p.p.
Finance Results
Values in R$ ‘000 |
|
1Q25 |
|
1Q24 |
|
% Y/Y |
|
2025 cycle |
|
2024 cycle |
|
% Y/Y |
Finance income |
12,631 |
|
13,543 |
|
(6.7%) |
|
26,612 |
|
30,218 |
|
11.9% |
|
Finance income from contingencies |
|
- |
|
- |
|
- |
|
206,961 |
|
- |
|
n.m. |
Finance costs |
(58,344) |
|
(69,810) |
|
(16.4%) |
|
(113,913) |
|
(141,202) |
|
(19.3%) |
|
Total |
|
(45,713) |
|
(56,267) |
|
(18.8%) |
|
119,660 |
|
(110,984) |
|
(207.8%) |
In the first quarter of 2025, finance income totaled R$12.6 million, a 6.7% decrease from R$13.5 million in 1Q24. In the 2025 sales cycle to date, finance income increased to R$233.6 million from R$30.2 million in the same period of the 2024 sales cycle. Finance income was positively impacted by a gain of R$207 million recorded in 4Q24, resulting from the reversal of interest on tax contingencies.
Finance costs in 1Q25 decreased 16.4% to R$58.3 million, from R$69.8 million in 1Q24. In the 2025 sales cycle to date finance cost decreased 19.3% compared to the same period in the 2024 sales cycle driven by the reduction of the interest on provision for tax, civil and labor risks as a result of the reversal of tax contingencies recorded in 4Q24.
Net profit (loss)
Values in R$ ‘000 |
|
1Q25 |
|
1Q24 |
|
% Y/Y |
|
2025 cycle |
|
2024 cycle |
|
% Y/Y |
Net (loss) profit |
(3,376) |
|
21,942 |
|
(115.4%) |
|
604,346 |
|
81,910 |
|
637.8% |
|
(+) Layoffs related to internal restructuring |
255 |
|
501 |
|
(49.1%) |
|
339 |
|
980 |
|
(65.4%) |
|
(+) Share-based compensation plan |
|
4,701 |
|
3,334 |
|
41.0% |
|
6,730 |
|
3,229 |
|
108.4% |
(+) Amortization of intangible assets(1) |
39,395 |
|
39,304 |
|
0.2% |
|
78,790 |
|
79,598 |
|
(1.0%) |
|
(+) Success fee (tax contingencies reversal) |
|
- |
|
- |
|
0.0% |
|
9,333 |
|
- |
|
0.0% |
(-) Income tax contingencies reversal |
|
- |
|
- |
|
0.0% |
|
(532,717) |
|
- |
|
0.0% |
(+) M&A adjusting expenses |
|
- |
|
- |
|
0.0% |
|
8,271 |
|
13,776 |
|
(40.0%) |
(-) Tax shield(2) |
(15,079) |
|
(14,667) |
|
2.8% |
|
(35,177) |
|
(33,178) |
|
6.0% |
|
Adjusted net profit |
25,896 |
|
50,414 |
|
(48.6%) |
|
139,915 |
|
146,314 |
|
(4.4%) |
|
Adjusted net margin |
6.1% |
|
11.0% |
|
(4.9 p.p.) |
|
12.5% |
|
14.5% |
|
(2.0 p.p.) |
|
Note: n.m.: not meaningful; (1) From business combinations. (2) Tax shield (34%) generated by the expenses that are being deducted as net (loss) profit adjustments. |
||||||||||||
In the first quarter of 2025, adjusted net profit totaled R$26 million, a 48.6% decrease compared to R$50 million in 1Q24. In the 2025 sales cycle to date, adjusted net profit reached R$140 million, a 4.4% decrease from an adjusted net profit of R$146 million in the same period of the 2024 sales cycle.
Accounts receivable and PDA
Values in R$ ‘000 |
1Q25 |
|
1Q24 |
|
% Y/Y |
|
4Q24 |
|
% Q/Q |
|
Gross accounts receivable |
946,669 |
|
864,511 |
|
9.5% |
|
952,995 |
|
(0.7%) |
|
Provision for doubtful accounts (PDA) |
(87,590) |
|
(93,489) |
|
(6.3%) |
|
(89,751) |
|
(2.4%) |
|
Coverage index |
|
9.3% |
|
10.8% |
|
(1.6 p.p.) |
|
9.4% |
|
(0.2 p.p.) |
Net accounts receivable |
|
859,079 |
|
771,022 |
|
11.4% |
|
863,244 |
|
(0.5%) |
Average days of accounts receivable(1) |
188 |
|
180 |
|
8 |
|
186 |
|
2 |
|
(1) Balance of net accounts receivable divided by the last-twelve-month net revenue, multiplied by 360. |
||||||||||
The average payment term of Vasta’s accounts receivable portfolio was 188 days in 1Q25, which represents 8 days higher than the same quarter of the previous year but remaining stable comparing to 4Q24.
Free cash flow
Values in R$ ‘000 |
|
1Q25 |
|
1Q24 |
|
% Y/Y |
|
2025 cycle |
|
2024 cycle |
|
% Y/Y |
Cash from operating activities(1) |
109,790 |
|
102,347 |
|
7.3% |
|
228,455 |
|
159,716 |
|
43.0% |
|
(-) Income tax and social contribution paid |
- |
|
- |
|
0.0% |
|
(379) |
|
(672) |
|
(43.6%) |
|
(-) Payment of provision for tax, civil and labor losses |
|
(722) |
|
(134) |
|
438.8% |
|
(1,946) |
|
(376) |
|
417.6% |
(-) Interest lease liabilities paid |
|
(2,938) |
|
(2,029) |
|
44.8% |
|
(5,992) |
|
(3,530) |
|
69.7% |
(-) Acquisition of property, plant, and equipment |
(1,464) |
|
(8,983) |
|
(83.7%) |
|
(20,498) |
|
(12,273) |
|
67.0% |
|
(-) Additions of intangible assets |
(24,956) |
|
(34,776) |
|
(28.2%) |
|
(44,809) |
|
(78,643) |
|
(43.0%) |
|
(-) Lease liabilities paid |
(5,535) |
|
(4,300) |
|
28.7% |
|
(11,315) |
|
(12,230) |
|
(7.5%) |
|
Free cash flow (FCF) |
|
74,175 |
|
52,125 |
|
42.3% |
|
143,516 |
|
51,992 |
|
176.0% |
FCF/Adjusted EBITDA |
61.1% |
|
32.1% |
|
29.0 p.p. |
|
34.2% |
|
12.9% |
|
21.2 p.p. |
|
LTM FCF/Adjusted EBITDA |
|
50.8% |
|
42.5% |
|
8.3 p.p. |
|
50.8% |
|
42.5% |
|
8.3 p.p. |
(1) Net (loss) profit less non-cash items less and changes in working capital. Note: n.m.: not meaningful |
||||||||||||
Free cash flow (FCF) totaled R$74 million in 1Q25, a 42.3% increase from R$52 million in 1Q24. In the 2025 sales cycle to date, FCF totaled R$144 million, a R$92 million increase from R$52 million in the same period of the 2024 sales cycle. The last twelve-month (LTM) FCF/Adjusted EBITDA conversion rate improved from 42.5% to 50.8% as a result of Vasta’s growth and implementation of sustained efficiency measures. These measures include certain improvements in our collection processes, including process automation, reminders and past-due notifications, customer segmentation, and faster renegotiation of delayed receivables . On the payments side, we implemented several initiatives to achieve better discipline in payments, such as rigorous financial planning, centralization of payments on single monthly dates, and negotiating longer payment terms with suppliers. Additionally, the first semester of 2025 will benefit from early collections regarding 2025 sales cycle, which will be normalized throughout the year.
Financial leverage
Values in R$ ‘000 |
|
1Q25 |
|
4Q24 |
|
3Q24 |
|
2Q24 |
|
1Q24 |
Financial debt |
|
771,727 |
|
762,005 |
|
764,693 |
|
768,459 |
|
762,985 |
Accounts payable from business combinations |
|
449,467 |
|
436,600 |
|
630,267 |
|
618,830 |
|
616,247 |
Total debt |
|
1,221,194 |
|
1,198,605 |
|
1,394,960 |
|
1,387,289 |
|
1,379,232 |
Cash and cash equivalents |
|
12,345 |
|
84,532 |
|
96,162 |
|
50,868 |
|
67,214 |
Marketable securities |
|
245,941 |
|
111,313 |
|
258,945 |
|
272,991 |
|
242,799 |
Net debt |
|
962,908 |
|
1,002,760 |
|
1,039,853 |
|
1,063,430 |
|
1,069,219 |
Net debt/LTM adjusted EBITDA |
|
2.06 |
|
1.97 |
|
2.32 |
|
2.28 |
|
2.22 |
As of the end of 1Q25, Vasta had a net debt position of R$963 million, a R$40 million decrease compared to 4Q24, mainly due to positive FCF generation, compensated by financial interest costs. Compared to 1Q24, the net debt position decreased R$ 106 million. The net debt/LTM adjusted EBITDA as of 2.06x shows a downward trend being 0.16x less than as of 1Q24.
ESG
Sustainability Report
In August 2024, we disclosed Vasta´s third sustainability report regarding the year of 2023 and it was prepared in accordance with international standards and the implementation of our corporate strategy, challenges, and achievements, while also reaffirming our commitment to transparency and sustainability. These include the publication of its second Greenhouse Gas Inventory, the company's adherence to the UN Global Compact, the dedication of 1,991 thousand hours to the Corporate Volunteer Program, the SOMOS Afro program, an affirmative internship program, and the fact that 29% of the seats on the Board of Directors are occupied by women.
The report complies with the Global Reporting Initiative (GRI) 2021 version and considers other standards recognized in Brazil and abroad, such as the Sustainability Accounting Standards Board (SASB) guidelines for the education sector, the guidelines of the IBC Stakeholder Capitalism Metrics from the World Economic Forum, and the principles of the International Integrated Reporting Council (IIRC).
The document is available at: https://ir.vastaplatform.com/esg/. Information contained in, or accessible through, our website is not incorporated by reference in, and does not constitute a part of, this press release.
In line with the topics identified in the materiality process, every quarter we present Vasta's most material indicators:
Key Indicators
ENVIRONMENT
Water withdrawal2 |
||||||||
SDGs |
GRI |
Disclosure |
Unit |
1Q2025 |
1Q2024 |
% Y/Y |
4Q2024 |
% Q/Q |
3, 11, 12 |
303-3 |
Total water withdrawal |
m³ |
7,343 |
6,515 |
13% |
7,154 |
2.6% |
Municipal water supply1 |
% |
100% |
100% |
0 p.p. |
100% |
0 p.p. |
||
Groundwater |
% |
0% |
0% |
0 p.p. |
0% |
0 p.p. |
||
Energy consumption within the organization2 |
||||||||
SDGs |
GRI |
Disclosure |
Unit |
1Q2025 |
1Q2024 |
% Y/Y |
4Q2024 |
% Q/Q |
12, 13 |
302-1 |
Total energy consumption |
GJ |
3,384 |
3,339 |
1% |
3,468 |
-2.4% |
Energy from renewable sources2 |
% |
66% |
78% |
(12 p.p.) |
74% |
(8 p.p.) |
||
The 2024 data was adjusted as part of the annual reparameterization process, since some utility bills may not be available at the time of data closing. The increase in water consumption in the first quarter of 2025 is due to the integration of the new unit, Start Anglo Liceu, offset by the deactivate Anglo Tamandaré unit, which is no longer impacting the data.
SOCIAL
Diversity in workforce by employee category |
||||||||
SDGs |
GRI |
Disclosure |
Unit |
1Q2025 |
1Q2024 |
% HA |
4Q2024 |
% HA |
5 |
405-1 |
C-level – Women |
% |
22% |
29% |
(7 p.p.) |
22% |
0 p.p. |
C-level – Men |
% |
78% |
71% |
7 p.p. |
78% |
0 p.p. |
||
C-level- total4 |
no. |
9 |
7 |
29% |
9 |
0.0% |
||
Leadership (≥ managers) – Women |
% |
44% |
45% |
(1 p.p.) |
45% |
(1 p.p.) |
||
Total - Leadership (≥ managers) – Men |
% |
56% |
55% |
1 p.p. |
55% |
1 p.p. |
||
Leadership (≥ managers) 5 – total |
no. |
124 |
144 |
-14% |
117 |
6.0% |
||
Academic staff – Women |
% |
28% |
18% |
10.0 p.p. |
15% |
13 p.p. |
||
Academic staff – Men |
% |
72% |
83% |
(11.0 p.p.) |
85% |
(13 p.p.) |
||
Academic staff 6 - total |
no. |
96 |
80 |
20% |
73 |
31.5% |
||
Administrative/Operational – Women |
% |
54% |
56% |
(2 p.p.) |
54% |
0 p.p. |
||
Administrative/Operational – Male |
% |
46% |
44% |
2 p.p. |
46% |
0 p.p. |
||
Administrative/Operational 7 - total |
no. |
1,229 |
1,595 |
-23% |
1,215 |
1.2% |
||
Employees – Women |
% |
51% |
54% |
(3 p.p.) |
51% |
0 p.p. |
||
Employees – Men |
% |
49% |
46% |
3 p.p. |
49% |
0 p.p. |
||
Employees - total |
no. |
1,458 |
1,831 |
(0 p.p.) |
1,424 |
2.4% |
||
Continuing our Diversity and Inclusion efforts, we are committed to promoting inclusion and recognizing the multiple identities that make up both our society and Cogna.
Contacts
Investor Relations
ir@vastaplatform.com
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