Page 49 - ALEF EDUCATION PR REPORT - JULY 2024

Alef reports Dh249 million in adjusted profit

before tax in H1

Alef reports Dh249 million in adjusted profit before tax in H1

30 July 2024 13:56

ABU DHABI (WAM)

Alef Education Holding has reported its financial results for the period ending 30th June 2024.

It marks Alef Education's first set of results since its successful initial public offering on the Abu
Dhabi Securities Exchange at the beginning of June 2024.

The Company recorded a seven percent increase in adjusted profit before tax for the first six
months of Dh249 million compared to Dh233 million a year earlier.

This translates to an adjusted profit before tax margin of 70 percent, up by 4 percentage points
compared to H1 2023, and remains substantially above industry benchmarks.

Robust top-line performance and continued cost management led to a four percent increase in
Adjusted EBITDA to Dh259 million in the first half.

In comparison, costs declined by six percent to Dh112 million.

Geoffrey Alphonso, Chief Executive Officer of Alef Education, commented, "Alef Education's
solid first half results demonstrate our ability to consistently deliver robust financial performance,

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before-tax-in