Another strong performance on the back of continued enrolment growth

Johannesburg, 27 March, 2023: Commenting on the results, ADvTECH CEO, Roy Douglas, said: “ADvTECH has delivered a strong set of results for the financial year ended 31 December 2022. This continued trend of delivering a consistent performance is reflective of the quality of our assets, the group’s scale and resilience. Furthermore, the decision to invest in selected African markets is now contributing significantly to operating profit.”


Operational and financial performance

·       Strong financial performance

·       Strong cash generation and sound balance sheet


With good enrolment growth in both the schools and tertiary divisions complemented with increased business activity in the resourcing division, group revenue grew by 18% to R7.0 billion (2021: R5.9. billion). Operating profit increased by 20% to R1 333 million (2021: R1 108 million) with the group operating margin improving to 19.1% (2021: 18.7%). Normalised earnings for the period increased by 20% to R790 million (2021: R656 million) while normalised earnings per share increased by 20% to 145.7 cents (2021: 121.5 cents) per share.


Cash generated by operating activities increased by 11% to R1.8 billion (2021: R1.6 billion), emphasising the inherent cash generating ability of our business.


The group’s expectations are that our growth trend and continuing strong cash generation will continue. Together with a sound balance sheet and reduced borrowings, the board continued with the payment of dividends at a similar cover ratio as in the prior year. The board therefore declared a final dividend of 37.0 cents (2021: 31.0 cents) per ordinary share for the year ended 31 December 2022.


Schools South Africa

·       Good enrolment growth

·       Solid financial performance


Owing to the recognition of the group’s excellence in education, all of our brands, including the premium brands, have shown growth. Revenue increased by 14% to R2.5 billion (2021: R2.2 billion) and operating profit increased by 17% to R484 million (2021: R413 million). The operating margin benefited from improved systems and processes, increasing to 19.4% (2021: 18.9%)


The group recorded exceptional results in the 2022 IEB examinations, resulting in ADvTECH retaining a leadership position in private education in South Africa. ADvTECH’s students achieved an impressive 99.5% pass rate and 90.8% obtained a bachelor degree pass.


Pinnacle Raslouw, in Centurion, opened in January 2023. Enrolments have exceeded expectations necessitating the need to bring forward phase two of the project.


Schools rest of Africa

·       Excellent growth underpinned by a commitment to quality education


The group’s school brands in the rest of Africa continue to experience strong enrolment growth and operational improvements. Revenue increased by 25% to R334 million (2021: R268 million) and operating profit increased by 69% to R80 million (2021: R47 million) with the operating margin improving from 17.7% to 23.9%.


Gaborone International School continues to perform exceptionally well with strong enrolment growth and market leading academic results.

Capacity was increased at the Crawford International in Kenya due to the strong demand owing to their market-leading academic offering. The school’s final year students, completing their A-level qualification, achieved 95% acceptance into international universities in the US, UK, Europe, Canada, Hong Kong, Asia and Australia.


The introduction of The Cambridge International Curriculum at Makini Schools in 2020 has proven successful with enrolments approaching 1000 students. The group continues to invest in refurbishing the sites to improve facilities and to portray a more aspirational appearance.


Tertiary/University division

·       Well established brand portfolio


The ADvTECH tertiary division continues to grow off the back of a well-established, quality brand portfolio that offers a comprehensive range of programmes and qualifications. Revenue increased by 12% to R2.7 billion (2021: R2.4 billion) and operating profit increased by 12% to R680 million (2021: R609 million) with operating margin remaining flat at 25%.


Capacity was increased at the Varsity College campuses in Pretoria and Midrand in response to growing demand. Similarly, buildings adjacent to Rosebank College’s Braamfontein and Pretoria mega campuses were acquired to allow for further growth. 


As mentioned in our half-year results, the Minister of Higher Education and Training published the draft regulations in 2022 setting out the criteria to qualify as a “university”. The group welcomes this development as a positive step as it allows us to plot our path to achieving university status. We will continue to engage with the Department of Higher Education and Training as developments unfold in this regard.


Resourcing division

·       Strong overall performance lead by outstanding performance in the rest of Africa


The strategy to expand into the rest of Africa continues to pay dividends and remains highly cash generative. The division continued to increase its presence and number of placements in 19 countries across the continent. This resulted in revenue increasing by 38% to R1 407 million (2021: R1 018 million) and operating profit by 129% to R89 million (2021: R39 million).


Loadshedding 

With the ongoing challenge of loadshedding in South Africa, we are committed to minimising our environmental impact across all of our operations in South Africa and the rest of Africa. We have successfully implemented various measures to ensure that our ability to deliver high-quality education remains unaffected. Most of our sites have generators and our business has a relatively low electricity usage with costs in this regard remaining contained. We also keep a close eye on our electricity and water usage and track it using meters, while constantly seeking out new opportunities to reduce consumption. We are currently piloting solar solutions at two of our sites to better understand the viability of rolling this out group wide. 

 

Prospects

·       Proven competitive advantage and ability to leverage scale

·       Ongoing demand for quality education


Commenting on the group’s outlook, Douglas said: “ADvTECH remains uniquely positioned to benefit from the continued growth in demand for education in both South Africa and particularly in the rest of Africa. This, together with the good enrolment growth achieved at the start of 2023 in both our schools and tertiary divisions, gives us confidence and an expectation that we will continue on our growth trajectory.”


Advtech Updates

By Tamara Thomas April 28, 2026
In April, Advtech was represented at the Reggio Emilia International Conference in Italy, represented alongside delegates from 47 countries and more than 360 participants from across the globe. This gathering offered a powerful opportunity to engage deeply with the Reggio Emilia philosophy at its source and to reflect on its relevance and resonance within Advtech schools. The Reggio Emilia approach, particularly within the Early Years (infant, toddler, preschool, and primary phases), is grounded in the belief that children are capable, curious, and rich in potential. It offers inclusive learning environments that support students’ wellbeing, encourage meaningful social interaction, and foster a strong sense of belonging. Central to this approach is a shared responsibility to the community, one that embraces diversity, promotes collaboration, and nourishes a creative culture for teaching and learning. At the heart of the Reggio Emilia approach lies the understanding that education is not self-sufficient. Learning does not happen in isolation; it emerges through resources, experiences, theories, dialogue, and relationships. Children do not learn by themselves, but through interaction with others and through engagement with thoughtfully designed environments. As a result, classroom spaces are intentionally equipped to reflect what is being taught, ensuring that the environment itself becomes an active participant in learning, often referred to as the “third teacher.” Advtech’s Early Years approach aligns strongly with this philosophy, where the “Hundred Languages of Children” is deeply valued. This metaphor, introduced by Loris Malaguzzi, recognises that children express their thinking, understanding, and creativity in many different ways, through art, movement, speech, construction, play, and inquiry. Children are seen as natural researchers who explore ideas through encounters with peers, materials, and experiences. Through thinking, acting, listening, and questioning with curious minds, they co-construct knowledge together. Accessible, everyday materials, such as paper, natural objects, and recycled resources play an important role in these learning experiences. These materials invite creativity, exploration, and critical thinking. Students engage in practices such as observational drawing, while teachers carefully document learning through photographs, notes, and displays. Documentation makes thinking visible and honours children’s learning journeys, allowing reflection for both learners and educators. A key principle of the Reggio Emilia approach is seeing each child as an individual with rights, resulting in personalised learning being evident in every classroom. The teacher’s role shifts from instructor to guide, listener, and co-learner, creating space for each child’s voice to be heard. As Loris Malaguzzi, founder of the Reggio Emilia approach, famously stated: “There is no learning without joy.”  Learning, therefore, should be joyful, playful, and filled with discovery. Children should experience learning as pleasurable, stimulating, and meaningful. Visiting Reggio Emilia schools demonstrated how this philosophy comes alive through rotational group teaching, flexible learning environments, and classroom spaces that change in response to children’s interests and inquiries. Importantly, learning in Reggio Emilia is a collective journey. Teachers, teaching assistants, and support staff all play an integral role in nurturing each child’s development. Even at a young age, children are encouraged to engage in research, which supports divergent thinking and honours the fact that no two learners are the same. Listening carefully to children’s ideas and theories becomes a fundamental act of respect.
By Tamara Thomas April 22, 2026
Advtech Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“Advtech” or “the Company”) DEALINGS IN SECURITIES BY DIRECTORS, A DIRECTOR OF A MAJOR SUBSIDIARY, PRESCRIBED OFFICERS AND THE GROUP COMPANY SECRETARY In terms of paragraphs 6.77 to 6.90 of the JSE Limited Listings Requirements (“JSE Listings Requirements”), the following transactions, in respect of which prior written approval pursuant to paragraph 6.83 of the JSE Listings Requirements have been obtained, is hereby disclosed.
By Tamara Thomas April 21, 2026
Advtech Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“Advtech” or “the Company”) Dealings in securities by the Advtech Management Share Incentive Plan 2026 (“MSI scheme”) In compliance with paragraphs 6.77 – 6.90 of the JSE Limited Listings Requirements the following information is disclosed in respect of dealings in Advtech securities by the MSI Scheme:
By Tamara Thomas April 21, 2026
Advtech Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“the Company” or “Advtech”) PUBLICATION OF ANNUAL INTEGRATED REPORT, NO CHANGE STATEMENT, NOTICE OF VIRTUAL ANNUAL GENERAL MEETING, AND AVAILABILITY OF B-BBEE COMPLIANCE CERTIFICATE Publication of Annual Integrated Report Shareholders are advised that the Advtech 2025 Annual Integrated Report (“Integrated Report”) and the Environmental, Social and Governance (“ESG”) Report have been published today. Electronic versions of the Annual Financial Statements for the year ended 31 December 2025 (“AFS”) and Ernst & Young Incorporated’s unqualified audit report are available on the Company’s website at: https://www.groupadvtech.com/financial-results and on the JSE Cloudlink at: https://senspdf.jse.co.za/documents/2026/JSE/ISSE/ADH/AFSYE2025.PDF The Integrated Report and ESG Report are available on the Company’s website at www.groupadvtech.com No Change Statement The consolidated AFS contain no modifications to the financial information published on SENS on 23 March 2026. Notice of Virtual Annual General Meeting Notice is hereby given that the virtual annual general meeting (“AGM”) of shareholders of the Company will be accessible on an interactive electronic platform, in order to facilitate participation and voting by shareholders, as permitted by the JSE Limited, the provisions of the Companies Act and the Company's Memorandum of Incorporation, on Wednesday, 27 May 2026 at 10h00, to consider and, if deemed fit, to pass with or without modification all of the ordinary and special resolutions set out in the notice of AGM to be distributed to shareholders on or before 21 April 2026. To this end, the Company has retained the services of The Meeting Specialist Proprietary Limited (“TMS”) to host the AGM on an interactive electronic platform, in order to facilitate participation and voting by shareholders. Our transfer secretaries, JSE Investor Services Proprietary Limited, will act as scrutineer. Shareholders who wish to participate in and/or vote at the AGM are required to contact TMS on proxy@tmsmeetings.co.za or alternatively contact them on 081 711 4255 / 084 433 4836 / 061 440 0654 as soon as possible, but in any event no later than 10h00 on Monday, 25 May 2026.  Shareholders are strongly encouraged to submit votes by proxy before the meeting. If shareholders wish to participate in the AGM, they should instruct their Central Securities Depository Participant (CSDP) or Broker to issue them with the necessary letter of representation to participate in the AGM, in the manner stipulated in their custody agreement. These instructions must be provided to the CSDP or broker by the cut-off time and date advised by the CSDP or broker, to accommodate such requests. SALIENT DATES The record date for the purposes of determining the shareholders of the Company entitled to receive the AGM notice is Friday, 10 April 2026. The record date for purposes of determining which shareholders of the Company are entitled to attend, participate in, and to vote at the AGM is Friday, 22 May 2026. Accordingly, the last date to trade in the Company’s shares on JSE Limited in order to be eligible to attend, participate in and vote at the AGM is Tuesday, 19 May 2026. AVAILABILITY OF B-BBEE COMPLIANCE CERTIFICATE In compliance with paragraph 12.7(g) and Appendix 1 to section 6 of the JSE Listing Requirements, shareholders are advised that the Company’s annual compliance certificate in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Amendment Act, No 46 of 2013, is available on the Company’s website at https://www.groupadvtech.com . 21 April 2026 Johannesburg Sponsor: Bridge Capital Advisors Proprietary Limited
By Tamara Thomas April 15, 2026
Choosing a school for your child will be one of the most complex and consequential decisions parents will ever make. When parents choose a school for their child, the decision is often shaped by immediate needs: convenience, reputation, or results in the senior years. Yet schooling is not a short-term decision. It is one of the longest and most formative investments a family will ever make, stretching over 12 to 15 years or more, from early childhood development through to Matric and further study. Darren Purdon, Head of Advtech Schools Academics, says the real value of education lies not in isolated moments of achievement, but in the intentional construction of learning over time, and that parents should approach their child’s educational journey intentionally, from start to finish. “Education depends on interconnected building blocks, each phase deliberately designed to prepare learners for the next,” he says. Parents should therefore carefully consider the elements that underpin a successful, lifelong educational journey before making this important decision. FOUNDATIONS MATTER Learning does not begin in Grade 1. It starts far earlier, in Grade 000 and Grade 00, where children develop the cognitive, social, emotional, and language skills that will underpin their entire academic journey, Purdon says. “When these early years are thoughtfully planned, children are more likely to arrive in the Foundation Phase confident, curious, and ready to learn. When they are not, gaps emerge that can widen over time. If the foundations are secure, progress accelerates, as we see in our Advtech Schools where we utilise international best practices and benchmarks to personalise early learning.” THE IMPORTANCE OF BELONGING Academic success is deeply connected to emotional safety and a sense of belonging. Children learn best when they feel comfortable at school, when they feel seen, supported and happy. And when teachers are supported, engaged, and professionally fulfilled, that sense of wellbeing naturally filters into the classroom. When students are excited about going to school, engagement increases, persistence improves and learning deepens. Social and emotional learning and supportive classroom environments with caring teachers underpin deep learning. Advtech schools include experienced psycho-social specialists to continually ensure teachers are upskilled in managing diverse classrooms. RESPONSIVE TEACHING AND TECH Effective education is not defined by what has been taught, but by what has been learned. “At Advtech schools, there is a growing shift toward instructional models that prioritise responsiveness. If learners have not grasped a concept, the expectation is not to move on regardless, but to re-teach using different strategies until understanding is achieved,” Purdon says. Additionally, technology has become a powerful enabler of this responsiveness, but not as a replacement for teachers. “AI-assisted tools, and classroom digital platforms such as Advlearn, increasingly act as classroom assistants, helping teachers identify learning gaps quickly and accurately. These tools provide insight into where students are struggling, allowing teachers to personalise support and adjust instruction accordingly.” INTENTIONAL SUBJECT PATHWAYS Consistency and coherence across subjects are another critical component of long-term value creation in education. “Take Mathematics as an example. Mathematical competence is not built in isolated units or single phases, it requires a carefully sequenced programme that develops conceptual understanding, fluency and confidence year after year,” says Purdon. “An intentional approach ensures that each phase prepares students for what follows, creating a golden thread that runs from early numeracy through to advanced problem-solving in the senior years. Gaps are far harder to close when this thread is broken.” The same principle applies across subjects: literacy, science, languages, and beyond. “Strategic curriculum alignment therefore ensures that learning compounds rather than resets each year, and parents should keep this in mind when strategising their child’s educational journey.” CHOOSING A SCHOOL WITH THE LONG VIEW For parents, the key question should not only be “Is this a good school now?”, but rather “Is this a school that understands the full journey, as well as understands where my child excels and needs support in each subject?” “Advtech Schools value long-term academic growth, student wellbeing, teacher development, and intentional curriculum design offers far more than short-term results. It offers continuity, stability, and a clear vision of success from the earliest years through to matric,” Purdon says.  “And in an education landscape that continues to evolve, the most trusted institutions are those that recognise schooling not as a series of isolated years, but as a curated journey, using regular academic data to personalise learning and shape student success for life.”
By Tamara Thomas April 8, 2026
Advtech Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“ Advtech ” or “ the Group ”) DEALINGS IN SECURITIES BY A DIRECTOR In compliance with paragraphs 6.77 to 6.90 of the JSE Limited (“ JSE ”) Listings Requirements, the following transaction relating to dealings by a director is hereby disclosed pursuant to the provisions of the ADvTECH Management Share Incentive Scheme (“ MSIS ”). As set out in the SENS announcement published on 6 May 2025, the director had been awarded 730 459 shares in terms of his employment contract, which shares ceased to be forfeitable vested on 1 May 2025 and were subsequently committed by the director to be held in escrow for a period of 12 months towards meeting his minimum shareholding requirements in terms of the Minimum Shareholding Requirement (“ MSR ”) Policy of the Group. The director has on 8 April 2026 re-committed the aforementioned shares to be held in escrow for a further holding period of 12 months towards meeting his minimum shareholding requirements in terms of the MSR Policy of the Group.
By Tamara Thomas April 8, 2026
Key to increasing access to quality education
By Tamara Thomas March 27, 2026
Advtech Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“Advtech” or “the Company”) DEALINGS IN SECURITIES BY THE ADVTECH MANAGEMENT SHARE INCENTIVE PLAN 2026 (“MSI Scheme”) In compliance with paragraphs 6.77 – 6.90 of the JSE Limited Listings Requirements the following information is disclosed in respect of dealings in Advtech securities by the MSI Scheme:
By Tamara Thomas March 26, 2026
ADvTECH Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“ADvTECH” or “the Company”) DEALINGS IN SECURITIES BY THE ADVTECH MANAGEMENT SHARE INCENTIVE PLAN 2026 (“MSI Scheme”) In compliance with paragraphs 6.77 – 6.90 of the JSE Limited Listings Requirements the following information is disclosed in respect of dealings in ADvTECH securities by the MSI Scheme:
By Tamara Thomas March 23, 2026
Double digit revenue growth and margin improvement deliver a 17% increase in earnings