Corporate Profile

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General Overview

We believe we are among the largest private higher education groups operating in the on-campus and distance learning ("DL" or "Digital Learning") modalities in Brazil, in terms of number of units, operating in the education area since 1993 concentrated mainly in the country’s Northeast, North and Southeast regions. On December 31, 2020, our platform was comprised of 56 units, distributed in all Brazilian states. We believe that our performance is comprehensive and diversified, currently counting on 191,200 students enrolled, of which 131,600 are hybrid/on-campus undergraduate student, 39,000 are digital learning undergraduate students, 19,300 are students enrolled in postgraduate courses, on-campus and digital learning, and 1,300 students enrolled in vocational courses. In addition, our net revenue recorded a negative average annual growth (CAGR) of 0.5% , from December 31, 2018 to December 31, 2020, of R$ 1,262,486,000 to R$ 1,250,463,000, due to the impacts caused by the COVID-19 pandemic in 2020. During this period, our total student base grew at a compound annual growth rate of 12.8%.

Our average monthly ticket decreased by 7.3% from fiscal year ended on December 31, 2018, and fiscal year ended on December 31, 2020, while the IPC-A inflation index from December 2018 to December 2020 increased by 9.2%.

Our strategy is to create a higher education ecosystem that operates in an integrated manner through an academic model that allows flexibility in the offer and creation of new courses and offer models in the undergraduate, graduate and continuing education segments ("life- long learning"), through brands with great regional appeal and widely recognized by students, professors and employers in each of the regions of the country where we operate.

¹This measure is not an accounting measure according to Accounting Practices Adopted in Brazil or IFRS, nor should it be considered in isolation, or as an alternative to net income, as an operating measure, or alternative to operating cash flows, or as a measure of liquidity and not should be considered as the basis for the distribution of dividends. Other companies may calculate this measure differently than we do. See additional information regarding its use in table 3.2 "a" of this Reference Form.

This offer is carried out through a complete teaching platform that acts as a true academic ecosystem, based on state-of-the-art technology, quality digital content and modern campi infrastructure dedicated to providing an increasingly better experience for students at competitive tuition prices, creating a differentiated value proposition to our students.

In order to make the creation of this higher education offering ecosystem possible, we created at the end of 2020, with official launch in 1Q21, Ubíqua, our new curriculum matrix based on a ubiquitous education model, which was structured to offer active teaching methodologies and digital content modern, which allows the quick creation of new courses with a lot of flexibility (click here to watch the video).

Our most relevant brands are: (i) in the Northeast, through UNINASSAU, Faculdades UNINASSAU, Faculdades Joaquim Nabuco, UNIJUAZEIRO - Centro Universitário de Juazeiro do Norte; (ii) in the North, through the Universidade da Amazônia - UNAMA, Universidade do Norte - UNINORTE, Centro Universitário de Ciências Biomédicas de Cacoal - UNIFACIMED and Sociedade Educacional de Rondônia - UNESC; and (iii) in the Southeast, with the Universidade de Guarulhos. In order to expand our presence in the Southeast, South and Midwest, in 2016 we launched a new brand, UNIVERITAS. We operate with UNIVERITAS in Rio de Janeiro, with UNIVERITAS - Centro Universitário Universus Veritas, which is also accredited to operate in the digital learning segment, in addition to the Faculdades UNIVERITAS of Belo Horizonte and Anapólis.

We try to be close to our target audience. Thus, our on-campus teaching and digital learning units are located at strategic points in the main metropolitan regions of the regions in which we operate, especially in locations that have a high demand for higher education and that offer adequate urban infrastructure to serve our students, generating a greater perception of value to our target audience. Regarding to digital learning, in addition to the strategic location of the centers, we favor cities with a precarious offer of on-campus education and higher per capita income.