Vitru Limited (NASDAQ:VTRU) Q4 2023 Earnings Conference Call March 21, 2024 4:30 PM ET

Company Participants

William Matos - Chief Executive Officer
Carlos Freitas - Chief Financial and Investor Relations Officer
Maria Carolina - Investor Relations

Conference Call Participants

Lucas Dai Nagano - Morgan Stanley
Mirela Oliveira - Bank of America
Lucca Marquezini - Itau BBA
Caio Moscardini - Santander
Bruno Gebara - Tarpon

Operator

Good evening, everyone. Thank you for waiting and welcome to Vitru's Fourth Quarter and Full Year 2023 Earnings Conference Call. We advise you that the video conference is being recorded and will be available on Vitru's IR website where the complete material of our earning 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 information contained in this presentation and any statements that may be made during the earnings call regarding Vitru's business prospects, projections and operation 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 as 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 from those expressed in such forward-looking statements.

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

I'll now give the floor to Mr. Carlos Freitas. Sir, you may begin.

Carlos Freitas

Thank you. Good afternoon, everyone, and thanks for joining us again. It's a pleasure to be here with you all for the release of our fourth quarter '23 numbers, as well as the numbers for the full-year of 2023. A slide presentation will be part of today's call, which is also available in our Investor Relations website at investors.vitru.com.br.

Before we begin, I'd like to make note that as detailed in Slide 2 of this presentation, State Harbor is in effect for this call. So, now let's start and I invite you to go to Page 4, which I'm going to show you right now. So here, we show the few key operational highlights for the period. The first one is that we had more than 880,000 students as of December of last year, which was a 15.4% increase in our core Digital Education Undergraduate business. That was a major growth and I'm going to talk about it a bit more later. Also we had an important increase of around 10% in the average ticket in the Digital Education Undergraduate segment in the second semester of last year compared to the second semester of 2022.