Think Childcare has reported underlying earnings before interest, tax, depreciation and amortisation of A$9.2 million (£4.9 million) for the first half of 2021, up 72% on EBITDA of A$3.8 million reported in the first half of 2020.
Total revenue for the half year was A$86 million, compared to A$36.5 reported for the first half of last year. Revenue from the childcare business was A$77.7 million, of which 97% generated by the group’s operating services, and the balance from management fees.
A Think spokesperson described the group’s performance as “a testament to the character of all the people that work in the business. They have been asked time and time again to pivot and flex with the changing environment. Every single time they have met the challenges with a fierce determination and a smile on their face. Without their can-do spirit, we would simply not be the company we are today.”
Think is expected to be acquired by Busy Bees Early Learning Australia in October.
Date published: 25 August 2021