Nord Anglia Education Announces Starting Student Enrollment For 2014/15

HONG KONG, Oct. 6, 2014 /PRNewswire/ -- Nord Anglia Education, Inc. (NYSE: NORD), the world's leading premium schools organization, today announced its starting student enrollment for the 2014/15 academic year.

Student enrollment at Nord Anglia Education's 31 premium schools around the world totalled 19,740 full time equivalent students (FTEs) as at September 28, 2014.  This represents a 17.3% increase over September 2013 enrollment of 16,834 FTEs and is comprised of 10.7% organic growth and 6.6% growth from the acquisition of our schools in Singapore and Cambodia during the 2013/14 academic year.  

Total capacity in our schools has increased by 22.3% to 26,587 as at September 28, 2014 from 21,737 as at September 29, 2013, resulting in utilization of 74% for the start of the 2014/15 academic year. 

The table below sets out the regional breakdown of enrollment as at September 29, 2013 and September 28, 2014, and capacity and utilization as at September 28, 2014.

Enrollment at our Chinese schools has grown 6.5% over the last 12 months, largely as a result of the opening of our new school in Hong Kong.  In Europe we have seen stable enrollment growth of 1.6%, in line with macro-economic trends.  Our schools in North America have grown enrollment at 2.7% albeit with capacity constraints in Chicago and Houston, the two largest schools in the region.  We have experienced excellent enrollment growth at our schools in the Middle East and South East Asia, which have grown by 27.6% organically and 23.0% through acquisition. 

Andrew Fitzmaurice, CEO of Nord Anglia Education, commented, "We are pleased to report strong organic student enrollment growth across our premium schools for the start of the 2014/15 academic year and expect incremental in-year enrollment growth during the remainder of 2014/15 consistent with previous years.  In addition to the two schools in Singapore and Cambodia that we acquired during the 2013/14 academic year, we continue to execute on our pipeline of acquisition and greenfield opportunities in line with our strategic focus on adding new premium schools to the Nord Anglia Education family."

Nord Anglia Education will release full year fiscal 2014 results on November 19, 2014 at which time we will provide Revenue, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS guidance for full year fiscal 2015.

Forward-Looking Statements

This press release includes statements that express our current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, "forward looking statements".  These forward looking statements can generally be identified by the use of forward-looking terminology, including the terms "believe," "expect," "may," "will," "should," "seek," "project," "approximately," "intend," "plan," "estimate" or "anticipate," or, in each case, their negatives or other variations or comparable terminology.  These forward-looking statements include all matters that are not historical facts.  They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning among other things, our future enrollments, acquisitions, greenfield developments and strategies.

By their nature, forward-looking statements relate to events that involve risks and uncertainties or that depend on circumstances that may or may not occur in the future.  We believe that these risks and uncertainties include, but are not limited to, those under "Risk Factors" in our most recent registration statement on Form F-1 filed with the SEC.  

Although we base these forward-looking statements on assumptions that we believe are reasonable when made, we caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from those made in or suggested by the forward-looking statements contained in this press release.  Any forward-looking statement that we make in this press release speaks only as of the date of such statement, and we undertake no obligation to update any forward-looking statements or to publicly announce the results of any revisions to any of those statements to reflect future events or developments.

About Nord Anglia Education, Inc.                          
Nord Anglia Education is the world's leading international operator of premium schools, serving students from kindergarten through the end of secondary school (K-12). We teach over 19,700 FTEs at our 31 premium schools in China, Europe, the Middle East and Southeast Asia and North America. We primarily operate in geographic markets with high foreign direct investment, large expatriate populations and rising disposable income. We believe that these factors contribute to high demand for premium schools and strong growth in our business.  Nord Anglia Education is headquartered in the Hong Kong SAR, China. Our website is www.nordanglia.com.

For further information, please contact:

Investors:  

Vanessa Cardonnel             
Corporate Finance and Investor Relations Director – Nord Anglia Education                
Tel: +852 3977 0791                   
Email: [email protected]

Kevin Doherty                 
Director, Investor Relations – Solebury Communications Group LLC                     
Tel: +1 203 428 3233                 
Email: [email protected]

Media:  

Sarah Doyle               
Communications Manager – Nord Anglia Education                     
Tel: +852 3977 0798                       
Email: [email protected]

SOURCE Nord Anglia Education, Inc.