{"id":590453,"date":"2023-07-19T00:00:00","date_gmt":"2023-07-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/19\/cira-education-revenues-climb-but-rising-rates-squeeze-income\/"},"modified":"2023-07-19T00:00:00","modified_gmt":"2023-07-19T00:00:00","slug":"cira-education-revenues-climb-but-rising-rates-squeeze-income","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/19\/cira-education-revenues-climb-but-rising-rates-squeeze-income\/","title":{"rendered":"CIRA Education revenues climb but rising rates squeeze income"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIRA revenues climb 23% in 9M 2023:<\/strong> CIRA Education reported adjusted net income EGP 353.1 mn in 9M 2023, down 21% y-o-y on the back of higher financing costs, according to its <a href=\"https:\/\/ent.news\/2023\/7\/733.pdf\" style=\"\">earnings release<\/a> <a href=\"https:\/\/ent.news\/2023\/7\/733.pdf\" style=\"\">(pdf<\/a> <a href=\"https:\/\/ent.news\/2023\/7\/733.pdf\" style=\"\">)<\/a>. Revenues climbed 23 % y-o-y to EGP 1.80 bn during the same period, driven by its expanding K-12 network and early childhood education offering, and adding Badr University in Assiut to its higher education platform. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>K-12 + higher ed enrolment is growing:<\/strong> CIRA\u2019s higher education segment is growing rapidly, with two universities now in operation: Badr University in Cairo (BUC) and Badr University in Assiut (BUA). CIRA\u2019s overall student capacity increased by 36% y-o-y to 34k students following the inauguration of BUA. Utilization declined by 9% following the opening of the university, which CIRA said \u201ccreates significant potential for future growth.\u201d Meanwhile, the group\u2019s K-12 education segment saw a 5% y-o-y increase in student numbers, which reached 32.7k. Capacity also increased by 3% y-o-y. The company owns and operates 25 K-12 schools across Egypt, and recently added a new school in Qena at the beginning of the academic year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cDespite the current challenging economic landscape, our organization has achieved exceptional results and continues to make significant strides in the education sector,\u201d CEO Mohamed El Kalla said in a statement. \u201cIn the midst of mounting inflation, our focus on efficiencies and economies of scale has allowed us to maintain a minimal margin contraction on the operational level. While our operational profitability came in slightly 2-3% below the initially targeted margin, we anticipate a positive shift in our margins for the upcoming academic year,\u201d he added. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>BUA drives rapid growth in higher education 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Education revenues climb but rising rates squeeze profits","related_issue":[590437],"teaser":"BUA drives rapid growth in higher education segment","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.eefcba4d-6481-47a1-82c8-6ff2c6c49618.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CIRA Education revenues climb but rising rates squeeze income - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/07\/19\/cira-education-revenues-climb-but-rising-rates-squeeze-income\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIRA Education revenues climb but rising rates squeeze 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Revenues during the period climbed to EGP 1.3 bn, up 28% y-o-y from last year. Top\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542999,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/cira-reports-1q2021-2022-financials\/","url_meta":{"origin":590453,"position":3},"title":"CIRA reports 1Q2021-2022 financials","author":"enterpriseam admin","date":"30 January 2022","format":false,"excerpt":"CIRA net income down in 1Q2021-2022 on expansions, higher debt costs: Net earnings at private sector education outfit CIRA eased 12% to EGP 107.7 mn in the first quarter of their 2021-2022 fiscal year, which ended on November 30, according to the company\u2019s latest earnings release (pdf). CIRA attributed the\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555305,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/09\/ciras-net-income-rises-31-in-fy2020-2021-amid-enrollment-boost\/","url_meta":{"origin":590453,"position":4},"title":"CIRA's net income rises 31% in FY2020-2021 amid enrollment boost","author":"enterpriseam admin","date":"9 November 2021","format":false,"excerpt":"CIRA extends growth run in FY2020-2021: Cairo for Investment and Real Estate Development (CIRA) announced a 31% rise in its net income to EGP 350.8 mn in its 2020-2021 fiscal year, which ended on 31 August, according to the company\u2019s earnings release (pdf). 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