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ASX announcement 25 August 2021 idp FY21 results : Recovery underway as demand for study and migration strengthens IDP Education Limited ( ASX : IEL ) today announced its results for the 2021 financial year ( FY21 ) . For the twelve months to 30 June 2021 , the company reported total revenue of $ 529 million , a decrease of 10 % compared with the same period in FY20 . Earnings before interest and tax ( EBIT ) was $ 64.1 million , a decrease of 41 % compared with FY20 . The FY21 result included one - off M & A expenses associated with the acquisition of the British Council's IELTS operations in India and amortisation charges for acquired intangibles . Excluding these items , EBIT was A $ 71.8 million , down 35 % versus FY20 . Andrew Barkla , IDP Chief Executive Officer and Managing Director , said despite the decline in revenue and earnings , the results demonstrated IDP's resilience . " Our diverse business model and long - term strategy allowed us to decisively navigate the disruptions of the past sixteen months , " Mr Barkla said . " Importantly , our business took critical steps during the year to further strengthen our leadership position in preparing the industry for recovery , " he said . ● IDP's operational and financial highlights during FY21 included : IELTS volumes increased by 5 % despite ongoing operational disruptions caused by COVID - 19 related government restrictions . Student Placement volumes to countries other than Australia fell by only 12 % versus FY20 despite uncertainties regarding travel and the availability of face - to face learning . Digital Marketing revenue rose by 8 % to A $ 30 million with our institutional clients looking to IDP's global digital platform for marketing and data insights . Cash balance of $ 307 million as at 30 June 2021 , essentially unchanged on 30 June 2020 levels . Ongoing digital transformation program for student placement and IELTS . Total student placement volumes were down 25 % for the year , driven by uncertainty around travel and border restrictions . Placements to Australia were hardest hit , falling 40 % versus last year , with international border closures meaning student enrolments were largely limited to those willing to commence their studies online . Northern Hemisphere study destinations fared better , with the United Kingdom reporting a 4 % increase in volumes with students travelling to the UK to commence their studies . Underlying demand for IDP's other key Northern Hemisphere destination , Canada , was strong but volumes were down 12 % , impacted by border closures and delays in visa processing . The resilient performance of IELTS highlighted the demand for overseas study . IDP's IELTS volumes were up 67 % in H2 FY21 versus the same period last year , with test takers looking to reignite their study and migration objectives . 1