SÃO PAULO–(BUSINESS WIRE)–Vasta Platform Limited (NASDAQ: VSTA) – “Vasta” or the “Company” announces today its financial and operating results for the second quarter of 2025 (2Q25) ended June 30, 2025. Financial results are expressed in Brazilian Reais and are presented in accordance with International Financial Reporting Standards (IFRS).
HIGHLIGHTS
- In the 2025 sales cycle to date (which commenced 4Q24 through 2Q25), net revenue increased 14% to R$1,488 million compared to the same period of the 2024 sales cycle, mostly due to the conversion of Annual Contract Value (“ACV”) bookings into revenue in the period. In 2Q25, net revenue totaled R$359 million, a 22% increase compared to the same period of the previous year.
- Vasta’s accumulated subscription revenue in the 2025 sales cycle to date year totaled R$1,340 million, a 16% increase compared to the previous year’s sales cycle. Complementary solutions net revenue in the 2025 sales cycle increased 24% compared to the 2024 sales cycle, to R$228 million.
- In this quarter, the public school sector, or business-to-government (“B2G”) segment, achieved R$9 million in revenue coming from several new customers, totaling R$50 million in the 2025 sales cycle to date, compared to R$69 million in the same period of the 2024 sales cycle, when the totality of revenues from our contract with the State of Pará (1st and 2nd semesters) was booked all at once. In the 2025 sales cycle to date, the 1st semester under our contract with Pará contract was booked in 4Q2024, and the 2nd semester is expected to be performed in the second half of 2025.
- In the 2025 sales cycle to date, Adjusted EBITDA increased by 8% reaching R$462 million, compared to R$428 million in the same period of the 2024 sales cycle, and Adjusted EBITDA Margin decreased by 1.6 p.p., from 32.7% to 31.1%. In 2Q25, Adjusted EBITDA totaled R$42 million, up from R$26 million in 2Q24, and Adjusted EBITDA Margin increased 2.9 p.p. to 11.7%, compared to 2Q2024, driven by a 0.8p.p. increase in gross margin and 2.0 p.p. reduction in marketing expenses.
- Vasta recorded an Adjusted Net Profit of R$111 million in the 2025 sales cycle to date, a 1% increase compared to R$110 million in the 2024 sales cycle. In 2Q25, Adjusted net loss totaled R$29 million, a 22% increase compared to adjusted net loss of R$37 million in 2Q24.
- Free cash flow (FCF) totaled R$224 million in the 2025 sales cycle to date, a R$134 million increase from R$90 million in the 2024 sales cycle. In 2Q25 FCF totaled R$80 million, a 108% increase from R$38 million in 2Q24. The last twelve-months (LTM) FCF/Adjusted EBITDA conversion rate improved from 31.9% to 57.7%, as a result of Vasta’s growth and implementation of sustained efficiency measures. Additionally, the first semester of 2025 benefited from early collections relative to the 2025 sales cycle, which are expected to normalize throughout the next quarters of the year.
MESSAGE FROM MANAGEMENT
As we conclude the third quarter of the current sales cycle, Vasta´s net revenue reached R$1,488 million, a 14% increase compared to the same period of the 2024 sales cycle, mostly due to the conversion of ACV bookings into revenue. Accumulated subscription revenue in the 2025 sales cycle to date totaled R$1,340 million, a 16% increase year-over-year, reflecting our ability to sustain revenue growth. Our complementary solutions also posted strong performance, growing 24% in the 2025 sales cycle compared to the same period of 2024, supported by accelerated expansion in both student base and market penetration. The number of partners-school using our complementary solutions increased to a total of 2,149 schools.
Start-Anglo bilingual school operations continue to gain momentum, having generated R$4 million in subscription revenue during the 2025 sales cycle to date. This performance reinforces Start-Anglo’s strategic relevance and its potential to become a significant growth driver. In a short time, Start-Anglo has moved from concept to reality, with seven operating units in 2025. As of this date, Start-Anglo has secured more than 50 contracts, including two flagship schools, a notable increase from 30 contracts signed in the same period of the 2024 sales cycle. We are actively working to convert our robust pipeline — currently over 250 prospects — into new agreements for Start-Anglo.
In the B2G segment, we recorded R$9 million in net revenue this quarter coming from new municipality customers, for a total of R$50 million net revenue in the 2025 sales cycle to date. In the 2024 sales cycle, we had booked R$69 million in net revenue, as the totality of revenues from our contract with the State of Pará (1st and 2nd semesters) was recognized in 1Q24. In the 2025 sales cycle to date, the 1st semester under our contract with Pará contract was booked in 4Q2024, and the 2nd semester is expected to be performed in the second half of 2025. We remain confident in our strategy to positively impact public education by serving this segment and its students with our extensive portfolio of core content solutions, digital platforms, and additional offerings, including custom learning solutions developed over decades in the private sector.
The continued growth of the company’s profitability was another highlight of the 2025 sales cycle to date as the Adjusted EBITDA grew by 8% to R$462 million compared to R$428 million in the previous year, and Adjusted EBITDA Margin decreased from 32.7% in the same period of the 2024 sales cycle to 31.1% in the 2025 sales cycle to date. In proportion to net revenue, gross margin decreased 2.4 p.p. in the sales cycle to date, mainly due to a different mix of products, lower B2G revenues and higher marketing expenses related to business expansion.
Cash flow generation continues to be a key strength and one of the main highlights of the 2025 sales cycle to date. Free cashflow (FCF) totaled R$224 million, a R$134 million increase from R$90 million in the same period of the 2024 sales cycle. The last twelve-month (LTM) FCF/Adjusted EBITDA conversion rate improved from 31.9% to 57.7% reflecting Vasta’s growth and the implementation of sustained efficiency measures. Additionally, the first semester of 2025 benefited from early collections relative to the 2025 sales cycle, which are expected to normalize throughout the next quarters of the year.
It is worth saying that these measures include certain improvements in our collection processes, including automation, reminders and past-due notifications, customer segmentation, and faster renegotiation of overdue receivables. On the payments side, we implemented several initiatives to enhance discipline in payments, such as rigorous financial planning, centralized payments scheduling, and negotiating longer payment terms with suppliers.
Moreover, we continue to make progress in deleveraging the company. The net debt/LTM adjusted EBITDA as of the end of 2Q25 was 1.90x, down 0.38x from 2Q24 and 0.16x from 1Q25, reinforcing our commitment to long-term value creation to our stakeholders.
OPERATING PERFORMANCE
Student base – subscription models
|
2025 |
|
2024 |
|
% Y/Y |
|
2023 |
|
% Y/Y |
||
|
Partner schools – Core content |
5,025 |
|
4,744 |
|
5.9% |
|
5,032 |
|
(5.7%) |
|
|
Partner schools – Complementary solutions |
2,149 |
|
1,722 |
|
24.8% |
|
1,383 |
|
24.5% |
|
|
Students – Core content |
1,489,698 |
|
1,432,289 |
|
4.0% |
|
1,539,024 |
|
(6.9%) |
|
|
Students – Complementary content |
563,525 |
|
483,132 |
|
16.6% |
|
453,552 |
|
6.5% |
|
|
Note: Students enrolled in partner schools |
||||||||||
In the 2025 sales cycle, Vasta provides approximately 1.5 million students with core content solutions and more than 560,000 students with complementary solutions. This is aligned with the company’s strategy to focus on improving its client base in 2025 through a better mix of schools and growth in premium education systems (Anglo, PH, Amplia and Fibonacci), brands with higher average ticket, lower defaults, greater adoption of complementary solutions and longer-term relationships.
FINANCIAL PERFORMANCE
Net revenue
|
Values in R$ ‘000 |
2Q25 |
|
2Q24 |
|
% Y/Y |
|
2025 cycle |
|
2024 cycle |
|
% Y/Y |
|
|
Subscription |
320,711 |
279,760 |
14.6% |
1,340,155 |
1,152,007 |
16.3% |
||||||
|
Traditional learning systems |
|
316,374 |
|
275,817 |
|
14.7% |
|
1,111,926 |
|
967,821 |
|
14.9% |
|
Complementary solutions |
|
4,337 |
|
3,943 |
|
10.0% |
|
228,229 |
|
184,186 |
|
23.9% |
|
Non-subscription |
28,960 |
14,593 |
98.5% |
97,787 |
88,139 |
10.9% |
||||||
|
B2G |
|
8,829 |
|
– |
|
0.0% |
|
49,879 |
|
69,031 |
|
(27.7%) |
|
Total net revenue |
358,500 |
294,353 |
21.8% |
1,487,821 |
1,309,177 |
13.6% |
||||||
|
% Subscription |
|
89.5% |
|
95.0% |
|
(5.6p.p.) |
|
90.1% |
|
88.0% |
|
2.1p.p. |
|
Note: n.m.: not meaningful |
||||||||||||
In the 2025 sales cycle to date (4Q24 through 2Q25), Vasta’s net revenue totaled R$1,488 million, representing a 13.6% increase compared to the same period of the 2024 sales cycle. Subscription revenue grew 16.3% mainly driven by the conversion of ACV bookings into revenue. Non-subscription revenue increased 10.9%, supported by higher enrollment in the Start-Anglo flagship schools and Anglo pre-university course.
In 2Q25, Vasta’s net revenue totaled R$358 million, a 21.8% increase compared to 2Q24, mainly due to ACV bookings conversion into revenue, and the results obtained in B2G. Non-subscription revenue was positively impacted this quarter by a seasonal effect related to the delivery of student books, besides higher enrollment of students mentioned above.
EBITDA
|
Values in R$ ‘000 |
2Q25 |
|
2Q24 |
|
% Y/Y |
|
2025 cycle |
|
2024 cycle |
|
% Y/Y |
|
|
Net revenue |
|
358,500 |
|
294,352 |
|
21.8% |
|
1,487,821 |
|
1,309,177 |
|
13.6% |
|
Cost of goods sold and services |
|
(156,321) |
|
(130,767) |
|
19.5% |
|
(565,546) |
|
(466,293) |
|
21.3% |
|
General and administrative expenses |
|
(129,518) |
|
(122,909) |
|
5.4% |
|
(369,442) |
|
(358,462) |
|
3.1% |
|
General and administrative expenses – reversal of tax contingencies |
|
– |
|
– |
|
0.0% |
|
92,558 |
|
– |
|
0.0% |
|
Commercial expenses |
|
(82,383) |
|
(73,578) |
|
12.0% |
|
(252,263) |
|
(213,966) |
|
17.9% |
|
Other operating income |
|
341 |
|
(284) |
|
(220.1%) |
|
(8,935) |
|
2,068 |
|
n.m. |
|
Share of loss of equity-accounted investees |
|
(4,648) |
|
(3,968) |
|
17.1% |
|
(9,151) |
|
(20,151) |
|
(54.6%) |
|
Impairment losses on trade receivables |
|
(11,037) |
|
(10,149) |
|
8.7% |
|
(45,387) |
|
(52,348) |
|
(13.3%) |
|
Profit before financial income and taxes |
|
(25,066) |
|
(47,303) |
|
(47.0%) |
|
329,655 |
|
200,025 |
|
64.8% |
|
(+) Depreciation and amortization |
|
64,953 |
|
67,827 |
|
(4.2%) |
|
207,687 |
|
204,390 |
|
1.6% |
|
EBITDA |
|
39,887 |
|
20,524 |
|
94.3% |
|
537,342 |
|
404,415 |
|
32.9% |
|
EBITDA Margin |
|
11.1% |
|
7.0% |
|
4.2p.p. |
|
36.1% |
|
30.9% |
|
5.2p.p. |
|
(+) Layoff related to internal restructuring |
|
588 |
|
2,630 |
|
(77.6%) |
|
927 |
|
3,610 |
|
(74.3%) |
|
(+) Share-based compensation plan |
|
1,631 |
|
2,768 |
|
(41.1%) |
|
8,361 |
|
5,997 |
|
39.4% |
|
(+) M&A adjusting expenses |
|
– |
|
– |
|
0.0% |
|
8,271 |
|
13,776 |
|
(40.0%) |
|
(-) Reversal of tax contingencies |
|
– |
|
– |
|
0.0% |
|
(92,558) |
|
– |
|
0.0% |
|
Adjusted EBITDA |
42,106 |
|
25,922 |
|
62.4% |
|
462,343 |
|
427,798 |
|
8.1% |
|
|
Adjusted EBITDA Margin |
11.7% |
|
8.8% |
|
2.9p.p. |
|
31.1% |
|
32.7% |
|
(1.6p.p.) |
|
|
Note: n.m.: not meaningful |
||||||||||||
In the 2025 sales cycle to date, Adjusted EBITDA reached R$462 million, representing an increase of 8.1% in comparison to the same period of the 2024 sales cycle, with a margin of 31.1%, compared to 32.7% in the same period of the 2024 sales cycle. This increase in Adjusted EBITDA was mainly driven by gains in operating efficiency and improvement in PDA (provision for doubtful accounts), which offset lower net revenue in the B2G segment. In 2Q25, Adjusted EBITDA totaled R$ 42 million, a 62.4% increase compared to R$ 26 million in 2Q24, mainly impacted by growth in core content and B2G.
In the 4th quarter of 2024, which is the first quarter of 2025 sales cycle, the Company proceeded with the partial reversal of the tax contingencies, based on the opinion of its legal advisors, related to the discussions of goodwill and other subjects derived from the acquisition of the Anglo Group in 2010 and subsequent restructuring, in the total amount of R$ 532,717, comprising (i) R$ 92,558 reversals of the principal portion, which impacted positively our general and administrative expenses (ii) R$ 233,198 reversals of the income tax and social contribution, (iii) R$ 206.961 reversal of interest and fines, in the Finance result.
|
(%) Net Revenue |
2Q25 |
|
2Q24 |
|
Y/Y (p.p.) |
|
2025 cycle |
|
2024 cycle |
|
Y/Y (p.p.) |
|
|
Gross margin |
|
56.4% |
|
55.6% |
|
0.8p.p. |
|
62.0% |
|
64.4% |
|
(2.4p.p.) |
|
Adjusted cash G&A expenses (1) |
|
(18.6%) |
|
(18.3%) |
|
(0.3p.p.) |
|
(10.9%) |
|
(11.4%) |
|
0.5p.p. |
|
Commercial expenses |
|
(23.0%) |
|
(25.0%) |
|
2.0p.p. |
|
(17.0%) |
|
(16.3%) |
|
(0.6p.p.) |
|
Impairment on trade receivables |
|
(3.1%) |
|
(3.4%) |
|
0.4p.p. |
|
(3.1%) |
|
(4.0%) |
|
0.9p.p. |
|
Adjusted EBITDA margin |
|
11.7% |
|
8.8% |
|
2.9p.p. |
|
31.1% |
|
32.7% |
|
(1.6p.p.) |
|
(1) Sum of general and administrative expenses, other operating income and profit (loss) of equity-accounted investees, less: depreciation and amortization, layoffs related to internal restructuring, share-based compensation plan and M&A one-off adjusting expenses. |
||||||||||||
Gross margin decreased 2.4 p.p. in the sales cycle to date mainly due to a different sales mix and lower net revenue in the B2G segment. Complementary solutions have grown at a faster pace despite royalties being owed to the owners of certain products. Adjusted cash G&A expenses declined by 0.5 p.p. driven by workforce optimization and budgetary discipline. Commercial expenses increased by 0.6 p.p. reflecting higher expenses related to business expansion and marketing investments. Provision for doubtful accounts (PDA), decreased by 0.9 p.p. in the 2025 sales cycle, mainly due to an additional provision booked in the 2024 sales cycle for expected credit losses related to customers in mainstream brands.
Finance Results
|
Values in R$ ‘000 |
|
2Q25 |
|
2Q24 |
|
% Y/Y |
|
2025 cycle |
|
2024 cycle |
|
% Y/Y |
|
Finance income |
18,452 |
16,187 |
14.0% |
45,064 |
46,405 |
(2.9%) |
||||||
|
Finance from contingencies |
|
– |
|
– |
|
0.0% |
|
206,961 |
|
– |
|
n.m. |
|
Finance costs |
(68,131) |
(63,974) |
6.5% |
(182,044) |
(205,176) |
(11.3%) |
||||||
|
Total |
|
(49,679) |
|
(47,787) |
|
4.0% |
|
69,981 |
|
(158,771) |
|
(13.7%) |
In the second quarter of 2025, finance income totaled R$18 million, a 14% increase from R$16 million in 2Q24. In the 2025 sales cycle to date, finance income slightly decreased to R$45 million from R$46 million in the same period of the 2024 sales cycle. Finance income was positively impacted by a gain of R$207 million recorded in 4Q24, due to the reversal of finance interest on tax contingencies reverted, as mentioned above.
Finance costs in 2Q25 increased 6.5% to R$68 million, from R$64 million in 2Q24. In the 2025 sales cycle to date finance cost decreased 11.3% compared to the same period of the 2024 sales cycle driven by the reduction of the interest on provision for tax, civil and labor risks as a result of the reversal of tax contingencies recorded in 4Q24.
Net profit (loss)
|
Values in R$ ‘000 |
|
2Q25 |
|
2Q24 |
|
% Y/Y |
|
2025 cycle |
|
2024 cycle |
|
% Y/Y |
|
Net (loss) profit |
(56,151) |
(66,171) |
(15.1%) |
548,195 |
15,739 |
n.m. |
||||||
|
(+) Layoffs related to internal restructuring |
588 |
2,630 |
(77.6%) |
927 |
3,610 |
(74.3%) |
||||||
|
(+) Share-based compensation plan |
|
1,631 |
|
2,768 |
|
(41.1%) |
|
8,361 |
|
5,997 |
|
39.4% |
|
(+) Amortization of intangible assets (1) |
39,395 |
39,304 |
0.2% |
118,185 |
118,902 |
(0.6%) |
||||||
|
(+) Success fee (tax contingencies reversal) |
|
– |
|
– |
|
0.0% |
|
9,333 |
|
– |
|
0.0% |
|
(-) Income tax contingencies reversal |
|
– |
|
– |
|
0.0% |
|
(532,717) |
|
– |
|
0.0% |
|
(+) M&A adjusting expenses |
|
– |
|
– |
|
0.0% |
|
8,271 |
|
13,776 |
|
(40.0%) |
|
(-) Tax shield (2) |
(14,149) |
(15,199) |
(6.9%) |
(49,326) |
(48,377) |
2.0% |
||||||
|
Adjusted net profit |
(28,686) |
(36,668) |
(21.8%) |
111,229 |
109,647 |
1.4% |
||||||
|
Adjusted net margin |
(8.0%) |
(12.5%) |
4.5p.p. |
7.5% |
8.4% |
(0.9p.p.) |
||||||
|
Note: n.m.: not meaningful; (1) From business combinations. (2) Tax shield (34%) generated by the expenses that are being deducted as net (loss) profit adjustments. |
||||||||||||
In the second quarter of 2025, adjusted net losses totaled R$29 million, a 21.8% reduction compared to losses of R$37 million in 2Q24. In the 2025 sales cycle to date, adjusted net profit reached R$111 million, a 1.4% increase from R$110 million in the same period of the 2024 sales cycle.
Accounts receivable and PDA
|
Values in R$ ‘000 |
2Q25 |
|
2Q24 |
|
% Y/Y |
|
1Q25 |
|
% Q/Q |
|
|
Gross accounts receivable |
812,286 |
755,133 |
7.6% |
946,669 |
(14.2%) |
|||||
|
Provision for doubtful accounts (PDA) |
(87,028) |
(93,543) |
(7.0%) |
(87,590) |
(0.6%) |
|||||
|
Coverage index |
|
10.7% |
|
12.4% |
|
(1.7 p.p.) |
|
9.3% |
|
1.5 p.p. |
|
Net accounts receivable |
|
725,258 |
|
661,590 |
|
9.6% |
|
859,079 |
|
(15.6%) |
|
Average days of accounts receivable (1) |
153 |
152 |
1 |
188 |
(35) |
|||||
|
(1) Balance of net accounts receivable divided by the last-twelve-month net revenue, multiplied by 360. |
||||||||||
The average payment term of Vasta’s accounts receivable portfolio was 153 days in 2Q25, remaining stable in the same quarter of the previous year, and 35 days lower compared to 1Q25.
Free cash flow
|
Values in R$ ‘000 |
|
2Q25 |
|
2Q24 |
|
% Y/Y |
|
2025 cycle |
|
2024 cycle |
|
% Y/Y |
|
Cash from operating activities(1) |
116,003 |
|
68,866 |
|
68.4% |
|
344,458 |
|
228,582 |
|
50.7% |
|
|
(-) Income tax and social contribution paid |
(477) |
|
– |
|
0.0% |
|
(856) |
|
(672) |
|
27.4% |
|
|
(-) Payment of provision for tax, civil and labor losses |
|
(427) |
|
(64) |
|
567.2% |
|
(2,373) |
|
(440) |
|
439.3% |
|
(-) Interest lease liabilities paid |
|
(2,886) |
|
(2,579) |
|
11.9% |
|
(8,878) |
|
(6,109) |
|
45.3% |
|
(-) Acquisition of property, plant, and equipment |
(476) |
|
(1,910) |
|
(75.1%) |
|
(20,974) |
|
(14,183) |
|
47.9% |
|
|
(-) Additions of intangible assets |
(26,000) |
|
(22,080) |
|
17.8% |
|
(70,809) |
|
(100,723) |
|
(29.7%) |
|
|
(-) Lease liabilities paid |
(5,750) |
|
(3,787) |
|
51.8% |
|
(17,065) |
|
(16,017) |
|
6.5% |
|
|
Free cash flow (FCF) |
|
79,986 |
|
38,446 |
|
108.0% |
|
223,502 |
|
90,438 |
|
147.1% |
|
FCF/Adjusted EBITDA |
190.0% |
|
148.3% |
|
41.6p.p. |
|
48.3% |
|
21.1% |
|
27.2p.p. |
|
|
LTM FCF/Adjusted EBITDA |
|
57.7% |
|
31.9% |
|
25.8p.p. |
|
57.7% |
|
31.9% |
|
25.8p.p. |
|
(1) Net (loss) profit less non-cash items less and changes in working capital. Note: n.m.: not meaningful |
||||||||||||
Free cash flow (FCF) totaled R$80 million in 2Q25, a 108% increase from R$38 million in 2Q24. In the 2025 sales cycle to date, FCF totaled R$224 million, a R$134 million increase from R$90 million in the same period of the 2024 sales cycle. The last twelve-month (LTM) FCF/Adjusted EBITDA conversion rate improved from 31.9% to 57.7% as a result of Vasta’s growth and implementation of sustained efficiency measures.
These measures include certain improvements in our collection processes, including automation, reminders and past-due notifications, customer segmentation, and faster renegotiation of overdue receivables. On the payments side, we implemented several initiatives to enhance discipline in payments, such as rigorous financial planning, centralized payments scheduling, and negotiating longer payment terms with suppliers. Additionally, the first semester of 2025 benefited from early collections relative to the 2025 sales cycle, which are expected to normalize throughout the next quarters of the year.
Financial leverage
|
Values in R$ ‘000 |
|
2Q25 |
|
1Q25 |
|
4Q24 |
|
3Q24 |
|
2Q24 |
|
Financial debt |
|
770,489 |
|
771,727 |
|
762,005 |
|
764,693 |
|
768,459 |
|
Accounts payable from business combinations |
|
462,034 |
|
449,467 |
|
436,600 |
|
630,267 |
|
618,830 |
|
Total debt |
|
1,232,523 |
|
1,221,194 |
|
1,198,605 |
|
1,394,960 |
|
1,387,289 |
|
Cash and cash equivalents |
|
14,257 |
|
12,345 |
|
84,532 |
|
96,162 |
|
50,868 |
|
Marketable securities |
|
300,942 |
|
245,941 |
|
111,313 |
|
258,945 |
|
272,991 |
|
Net debt |
|
917,324 |
|
962,908 |
|
1,002,760 |
|
1,039,853 |
|
1,063,430 |
|
Net debt/LTM adjusted EBITDA |
|
1.90 |
|
2.06 |
|
1.97 |
|
2.32 |
|
2.28 |
As of the end of 2Q25, Vasta had a net debt position of R$917 million, a R$46 million decrease compared to 4Q24, mainly due to positive FCF generation, compensated by financial interest costs. Compared to 2Q24, the net debt decreased R$ 146 million. The net debt/LTM adjusted EBITDA as of 1.90x shows a downward trend, being 0.38x less than as of 2Q24.
ESG
Sustainability Report
In July 2025, we disclosed Vasta´s fourth sustainability report regarding the year of 2024 and it was prepared in accordance with international standards and the implementation of our corporate strategy, challenges, and achievements, while also reaffirming our commitment to transparency and sustainability. These include the publication of Greenhouse Gas Inventory (carried out since 2020), the maintenance of the FSC certifications (since 2008), the SOMOS Institute, devoted to building a more equitable society by creating opportunities for all who believe in the power of education, and 43% of our Board members belonging to underrepresented groups (women and LGBTQIAPN+).
The report complies with the Global Reporting Initiative (GRI) 2021 version and considers other standards recognized in Brazil and abroad, such as the Sustainability Accounting Standards Board (SASB) guidelines for the education sector, the guidelines of the IBC Stakeholder Capitalism Metrics from the World Economic Forum, and the principles of the International Integrated Reporting Council (IIRC).
The document is available at: https://ir.vastaplatform.com/esg/. Information contained in, or accessible through, our website is not incorporated by reference in, and does not constitute a part of, this press release.
In line with the topics identified in the materiality process, every quarter we present Vasta’s most material indicators:
Key Indicators
ENVIRONMENT
|
Water withdrawal1 |
||||||||
|
SDGs |
GRI |
Disclosure |
Unit |
2Q2025 |
2Q2024 |
% HA |
1Q2025 |
% HA |
|
3, 11, 12 |
303-3 |
Total water withdrawal |
m3 |
6,362 |
3,039 |
109% |
7,343 |
(13%) |
|
Municipal water supply1 |
% |
100% |
100% |
0 p.p. |
100% |
0 p.p. |
||
|
Groundwater |
% |
0% |
0% |
0 p.p. |
0% |
0 p.p. |
||
|
Energy consumption within the organization2 |
||||||||
|
SDGs |
GRI |
Disclosure |
Unit |
2Q2025 |
2Q2024 |
% HA |
1Q2025 |
% HA |
|
12, 13 |
302-1 |
Total energy consumption |
GJ |
2,809 |
3,856 |
(27%) |
3,384 |
(17%) |
|
Energy from renewable sources2 |
% |
63% |
52% |
11 p.p. |
66% |
(3 p.p.) |
||
The increase in energy consumption this quarter was expected, as the variation reflects the production schedule of our distribution centers. At educational facilities, the increase aligns with the end of the school break period, with higher occupancy levels at the units.
SOCIAL
|
Diversity in workforce by employee category |
||||||||
|
SDGs |
GRI |
Disclosure |
Unit |
2Q2025 |
2Q2024 |
% HA |
1Q2025 |
% HA |
|
5 |
405-1 |
C-level – Women |
% |
22% |
29% |
(7 p.p.) |
22% |
0 p.p. |
|
C-level – Men |
% |
78% |
71% |
7 p.p. |
78% |
0 p.p. |
||
|
C-level- total4 |
no. |
9 |
7 |
29% |
9 |
0.0% |
||
|
Leadership (≥ managers) – Women |
% |
41% |
43% |
(2 p.p.) |
44% |
(3 p.p.) |
||
|
Total – Leadership (≥ managers) – Men |
% |
59% |
57% |
2 p.p. |
56% |
3 p.p. |
||
|
Leadership (≥ managers) 5 – total |
no. |
123 |
124 |
(1%) |
124 |
(1%) |
||
|
Academic staff – Women |
% |
27% |
15% |
12 p.p. |
28% |
(1 p.p.) |
||
|
Academic staff – Men |
% |
73% |
85% |
(12 p.p.) |
72% |
1 p.p. |
||
|
Academic staff 6 – total |
no. |
93 |
75 |
24% |
96 |
(3%) |
||
|
Administrative/Operational – Women |
% |
55% |
54% |
1 p.p. |
54% |
1 p.p. |
||
|
Administrative/Operational – Male |
% |
45% |
46% |
(1 p.p.) |
46% |
(1 p.p.) |
||
|
Administrative/Operational 7 – total |
no. |
1,253 |
1,229 |
2% |
1,229 |
2% |
||
|
Employees – Women |
% |
52% |
51% |
1 p.p. |
51% |
1 p.p. |
||
|
Employees – Men |
% |
48% |
49% |
(1 p.p.) |
49% |
(1 p.p.) |
||
|
Employees – total |
no. |
1,478 |
1,435 |
3% |
1,458 |
1% |
||
We are proud to receive recognition as one of the Best Companies to Work For® 2024/2025 by Great Place to Work. This achievement represents much more than a certification: it validates our commitment and continuous efforts in building an organizational environment of excellence. Through initiatives focused on human development and employee wellbeing, we demonstrate that caring for people is a fundamental pillar of our corporate strategy, reinforcing our dedication to foster professional growth and personal fulfillment for all our team members.
|
Social impact* 8 |
||||||
|
SDGs |
GRI |
Disclosure |
Unit |
1S2025 |
1S2024 |
2S2024 |
|
4, 10 |
– |
Scholars of the Somos Futuro Program |
no. |
227 |
195 |
219 |
|
* Indicators presented progressively, referring to the total accumulated since the beginning of the year, which is why we are not presenting the variations compared to previous semesters. |
||||||
We continue to maintain the Somos Futuro Program via Instituto SOMOS. The initiative enables public school students to attend high school at one of Vasta’s partner schools. In this quarter, 227 young people were studying through the program, receiving didactic and paradidactic material, online school tutoring, mentoring, and access to the entire support network of the program, which includes psychological monitoring, in addition to the scholarship offered by the school.
Contacts
Investor Relations
[email protected]
