Taaleem Holdings PJSC Reports Record Revenues and Enrolment Growth in 9M 2023/24
Taaleem Holdings PJSC, a leading K-12 premium education provider in the UAE, has announced impressive financial results for the nine-month period ending May 31, 2024.
Summary
Taaleem Holdings PJSC has reported record revenues of AED 830.7M for 9M 2023/24, driven by a significant 32.9% YoY increase in student enrolment. With robust growth across key financial metrics, the company continues to expand its portfolio and enhance its operational efficiency.
Dubai | 4 July 2024 - Taaleem Holdings PJSC (DFM Symbol: TAALEEM), a prominent K-12 premium education provider in the UAE, has released its financial results for the nine-month period ending May 31, 2024. The company reported record revenues of AED 830.7 million, marking a 15.0% year-on-year (YoY) increase, primarily driven by a remarkable 32.9% YoY growth in student enrolment.
During this period, Taaleem's total capacity expanded by 27.1% YoY to 42,953 seats, with a total enrolment of 37,954 students. The company's blended utilisation rate also saw an increase, reaching 88.4%, up 3.8% YoY. This growth was bolstered by the addition of six new public-private partnership (PPP) schools, contributing to the company's portfolio of 32 schools.
The company's EBITDA grew by 26.9% YoY to AED 338.9 million, with a margin of 40.8%. This growth was attributed to increased enrolment driving economies of scale and a 2.6% YoY decline in general and administrative (G&A) expenses. Net profit before tax surged by 38.9% YoY to AED 277.6 million, supported by growing operational profitability and interest gains on cash reserves.
Taaleem's premium expansion is on track, with the handover of Dubai British School Jumeira and the expansion of Greenfield International School, both set to commence operations for the academic year in FY 2024/25. The company's government partnership portfolio also welcomed six new schools during the nine-month period, further solidifying its position as a leading education provider in the region.
Given the company's strong financial performance and strategic expansions, investors might consider holding the stock to benefit from potential future growth. However, it is essential to remain cautious and monitor any changes in the market or the company's operational dynamics that could impact its performance.
Source
Summary
Taaleem Holdings PJSC, a leading K-12 premium education provider in the UAE, reported record revenues of AED 830.7 million for the nine-month period ending May 31, 2024, marking a 15.0% year-over-year increase. This growth was driven by a 32.9% increase in student enrolment, reaching 37,954 students, and the addition of six new government partnership schools. The company's EBITDA rose by 26.9% to AED 338.9 million, and net profit before tax increased by 38.9% to AED 277.6 million. Total student capacity grew by 27.1% to 42,953 seats, with a blended utilisation rate of 88.4%. The expansion includes the upcoming operations of Dubai British School Jumeira and the expansion of Greenfield International School for the academic year 2024/25.
