Page 66 - ALEF EDUCATION PR REPORT FEBRUARY 2025

Alef Education Achieves AED 759 Million

Revenue Growth In 2024 Through Strategic

Partnerships

Alef Education Holding Plc has shared its financial results for the year ending 31st
December 2024. This marks the third report since its listing on the Abu Dhabi
Securities Exchange (ADX) in June 2024. The company saw a 6% rise in profit before
tax, reaching AED 491.7 million, thanks to robust revenue from long-term contracts
and effective cost management.

The company's revenue climbed to AED 759 million, largely due to a long-term contract
with the Abu Dhabi Department of Education and Knowledge (ADEK). This agreement
was extended by three years in November 2024 and will now last until 2033. It ensures
a minimum of 80,000 students with a fixed fee per student, allowing for additional
charges if student numbers exceed this threshold.Alef Education's focus on cost
efficiency led to significant savings, boosting EBITDA by 5% to AED 512.2 million. The
company's efforts in streamlining processes and optimising resources have been
crucial in achieving this growth. The EBITDA margin stood at an impressive 68%,
surpassing industry standards, while the net profit margin reached 65%, highlighting
successful cost management strategies.

Geoffrey Alphonso, CEO of Alef Education, stated, "Our strong performance in 2024
underscores the resilience of our business model and the sustained demand for our
innovative learning solutions. Revenue growth continues to be driven by strategic,
long-term partnerships, including our extended agreement with ADEK." He also
mentioned new contracts with UAE government clients and expanding collaborations
across key markets as factors positioning Alef Education for further market
expansion.

https://www.onearabia.me/business/alef-education-reports-strong-growth-in-2024-011-
98749.html