Vitru Limited (NASDAQ:VTRU) Q2 2023 Results Conference Call August 10, 2023 4:30 PM ET

Company Participants

William Matos - Co-CEO

Carlos Freitas - CFO and IRO

Maria Goncalves - Head of Investor Relations

Conference Call Participants

Pedro Caravina - Credit Suisse

Fred Mendes - Bank of America

Lucas Nagano - Morgan Stanley

Operator

Good evening, everyone. Thank you for waiting. And welcome to Vitru's Second Quarter 2023 Earnings Conference Call. We advise you that the video conference is being recorded and will be available on Vitru's Investor Relations Web site, where the complete material of our earnings call can be found. You can also download the presentation from the chat icon. During the company's presentation, all participants will have their microphones disabled. Then we will start the Q&A session and at this point you'll be able to use your microphone [Operator Instructions].

We emphasize that the information contained in this presentation and any statements that may be made during the earnings calls regarding Vitru's business prospects, projections and operational and financial goals constitute the beliefs and assumptions of the company's management as well as information currently available. Forward considerations are not performance guarantees. They involve risks, uncertainties and assumptions, and they refer to future events and therefore depend on circumstances that may or may not occur. Investors should understand that general economic conditions, market conditions and other operating factors may affect Vitru's future performance and lead to results that differ materially and those expressed in such forward-looking statements.

Today, we have the presence of the company's executives, William Matos, Vitru's Co-CEO; Carlos Freitas, Vitru's CFO and IRO; and Maria Carolina, Investor Relations.

I will give the floor to Mr. Carlos Freitas. You may begin.

Carlos Freitas

Thank you, operator. Good afternoon, everyone. Thanks for joining us again. It's a real pleasure to be here with you all again for the release of our second quarter ‘23 results. As said here with me, I have William Matos, our Co-CEO; Maria Carolina Goncalves, the Head of our Investor Relations Department. And also [Raquel Suzaki, Daniel D'souza] and [Indiscernible] from our IR Team.

The slide presentation in front of you will be part of today's webcast and this is also available in our IR site at investors.vitru.com.br.

Before we begin, as usual, I'd like to make sure that as detailed in Slide 2 that you know that Safe Harbor is in place for this call. So now I’d like you to go to Page 4, which is here. So here we show a few key operational highlights of the quarter. The first is that this is the first anniversary of closing of our business combination with UniCesumar that we closed in May of last year. And as we know, as we have been following the company, we have been advancing a lot in the integration process of both Vitru and UniCesumar. We reached in June of this year 920,000 students, 97% of them in digital location with a 17% increase in the first intake cycle of this year, in the first half of this year. The average ticket increased about 3%, 3.2% in the first half of this year, which is more better indicator for the full academic cycle, the semester number, confirming our approach to pricing, our price discipline, and our product differentiation.