STADIO is building a new comprehensive campus in Durbanville Western Cape. The new campus plans to offer schools in education, IT, law, media and design, commerce, architecture, and engineering, with a planned capacity of between 4 000 and 5 000 contact learning students. Pictured is an artist rendering of the campus.
Image: Supplied
STADIO Holdings, the JSE-listed private higher education group, saw double-digit growth across the board in 2024 amid sluggish economic conditions, and it lifted its dividend by 51% to 15.1 cents a share.
Student enrolments exceeded 50 000 students in the year, increasing to 50 039 at December 2024, on track to achieve the 2017 JSE prelisting statement target of 56,000 students by 2026. The group now believes that it can reach 80 000 students by 2030.
CEO Chris Vorster said in an interview that the higher dividend arose mainly due to good cash collections in 2024, which increased by 29%, and the fact that the bulk of the spending for the construction of the Durbanville campus, which is under construction, had been paid.
He said that while they did not yet have exact numbers, initial indications were also that the group is expected to experience another year of strong enrolment growth.
STADIO provides access to higher education through three institutions - STADIO Higher Education, Milpark Education, and AFDA, which offer undergraduate and postgraduate programmes in both contact and distance learning modes of delivery.
AFDA’s performance was flat in the past year due to it offering the most expensive courses and the fact that it had to buy the most updated technology for students. AFDA provides courses on creative arts such as film production, television, and business innovation.
Vorster said, however, that the group remained upbeat about AFDA’s prospects and a campus would be built in Tshwane. He said the Stadio School of Information Technology in particular was seeing good demand by students.
Core headline earnings, the group benchmark for underlying financial performance, increased by sturdy 28% to R267 million, with core headline earnings per share also increasing by 28% to 31.5 cents per share.
Revenue increased 14% to R1.6 billion, and earnings before interest, taxation, depreciation, and amortisation (EBITDA) rose by 17% to R458m. Cash from operations was up by 29% to R465m.
“Our impressive set of results showcases a strong financial performance and robust cash generation. The group is well-positioned for expansion with the construction of the new comprehensive Durbanville campus,” Vorster said.
Construction of the Durbanville campus started in October 2024 and was on track to open for new students in January 2026.
It will house seven faculties and offer multiple qualifications. Sports facilities will be available, offering a holistic student experience. It is expected to open with at least 1 000 students. The campus was a beginning for the group in its expansion into university campuses, said Vorster.
“The group is entering a growth and expansion phase. We’ve laid solid foundations over the past few years, and efficiencies are starting to show. We are well-positioned for university status, when the regulations allow, with quality remaining a key focus. We believe we can reach our target of 56 000 students by 2026 and now believe that reaching 80 000 students by 2030 is achievable,” he said.
STADIO currently provides 96 accredited qualifications, with 34 submitted for accreditation or in the process of registration or certification.
Vorster said the need for quality higher education in South Africa is increasing. In 2022, 551 289 grade 12 learners qualified for university, of which 356 575 could not access the public universities.
“It is estimated this has increased to more than 430 000 in 2025, highlighting the huge need for STADIO and the significant impact that we can make,” he said.
Contact learning student numbers increased by 8% for the year to December 2024, driven mainly by site extensions and growth in new qualifications contributing to growth.
“Poor enrolments in prior years are starting to work their way out of the system. It is also evident that students want to experience campus life, particularly in their first year, and STADIO has made great progress in offering a holistic student experience,” said Vorster.
“Distance learning remains the group’s largest offering, with 87% of students making use of it. Distance student numbers increased by 10% to 40 702 in the first semester to June 2024 and by 8% to 43 755 in the second semester to December 2024.
Stellenbosch University Chief Operating Officer, Professor Stan du Plessis, will join STADIO as CEO of STADIO Higher Education, effective August 1, 2025.
Business Report