Vitru Limited (NASDAQ:VTRU) Q1 2022 Earnings Conference Call May 16, 2022 4:30 PM ET
Company Participants
Carlos Freitas - Chief Financial Officer
Pedro Graça - Chief Executive Officer
Conference Call Participants
Vitor Tomita - Goldman Sachs
Lucca Marquezini - Itau
Mauricio Cepeda - Credit Suisse
Operator
Good evening, ladies and gentlemen, and welcome to Vitru's First Quarter 2022 Earnings Conference Call. All participants are in a listen-only mode now. Later on, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, this call is being recorded and will be available on Vitru's ir website. Now let me introduce your host for today's conference call, Mr. Carlos Freitas, Vitru's CFO. You may begin.
Carlos Freitas
Thank you, Geir [ph]. Good evening, everyone. Thanks for joining us today. It's my pleasure to be here with you all for the release of our first quarter 2022 numbers. Here with me are Pedro Graça, our CEO; Maria Carolina Gonçalves the Head of our IR department; and [indiscernible] also from our Investor Relations team.
A slide presentation will be part of today's webcast, which is available at our Investor Relations site at investors.vitru.com.br. And before we begin, I'd like to make note that as detailed in Page 2 of the presentation, safe harbor is in effect for this call.
So now I invite you to go to the Page 5 of our presentation, which I think all have in front of you. Now on Page 5, we have the main highlights of this quarter. Again the number one as you know the antitrust authority of Brazil CADE has approved the Business Combination with Unicesumar that we announced in August of last year. We are still in the middle of the 15-day additional waiting period for the contract close which is – the period going to finish tomorrow. The 15-day period will be due tomorrow on 17 May. And after that on Wednesday morning, we're going to tell you the day in which we're going to invite you for a new conference call and to define the date of the closing.
Still on Page 5. We reached almost 382,000 digital education students which was an important landmark. Our intake in the first quarter of this year increased 36% in our core business, which is a Digital Education undergraduate. This was I'd say a very important growth 36%.
In the calendar quarter, we don't expect this number to be similar for the full intake cycle. As you know last year the whole process was much more back ended and then I want to go back to this. But anyway we still expect the intake for this current intake cycle to be around mid-20s, higher than what we had last year.