Vitru Limited (NASDAQ:VTRU) Q3 2023 Earnings Conference Call November 14, 2023 8:30 AM ET
Company Participants
Carlos Freitas - CFO and IRO
William Matos - Co-CEO
Conference Call Participants
Lucas Nagano - Morgan Stanley
Mirela Oliveira - Bank of America
Lucca Marquezini - Itau BBA
Operator
Good evening, everyone and thank you for waiting. Welcome to [Vistra Luxembourg S.à.r.l] Third Quarter 2023 Financial Results Conference Call. All participations will be in a listen only mode during the company's presentation. After the company's remarks there will be question-and-answer session. [Operator Instructions]
As a reminder this conference is being record and the audio file will be available after the event is conclude. Before proceeding let me mention that forward statements are based on believes and assumptions of the company's management and on information
and information currently available to the company. They involve risks and uncertainties because they relate to future events and therefore, depend on circumstances that may or may not occur.
With us here today, we have [Nicholas Burridge], the company's CFO. Now I will turn the conference over to Mr. [Burridge]. You may begin your presentation.
Carlos Freitas
Hello. Good morning, everyone. I guess that she is confused. My name is Carlos Freitas. I'm the CFO of Vitru, as you know. And I'm pleased here to present the results of our third quarter '23 numbers. Here with me are William Matos, our Co-CEO; plus [Daniel D'souza with Felipe Da Silva], and [indiscernible] from our IR team. A slide presentation will be part of today's call, which is also available in our IR site at investors.vitru.com.br. So I trust you all have, are looking at such a presentation.
Before I begin, as usual, I'd like to make note that as detailed in Slide 2 of the presentation, safe harbor is in effect for this call. So now I invite you to go to Page 4 of the presentation. So here, we show a few operational highlights of the quarter, which, once again was quite strong. So first, as you have seen, the most recent, in that census that was released in October confirmed Vitru as the top player in digital education in Brazil and that's very important because in this business, scale matters, scale matters a lot to both generate value for our students through quality and to generate value for our shareholders.
We had, in September, more than 860,000 students with a 16% increase in digital education undergraduate students versus September of last year. We also signed the agreement for the new debenture issuance for R$500 million which will be closed by the end of this month and extend the average debt duration and lower our financing costs as a whole.