She said Education Holding In a statement on the website Dubai Financial MarketProfits rose to 138 million dirhams (13.8 fils/share) by the end of the year ending August 31, 2024, compared to profits of 117.3 million dirhams achieved during the same period in 2023, with a growth rate of 17.6 percent.
And it rose Revenue Operational growth at an annual rate of 15.5 percent to record 945.2 million dirhams during the 2023-24 academic year, driven by growth in enrollment rates. Students The company’s schools increased by 33.1 percent annually, thanks to the efficiency of the expansion strategy adopted by the company to adapt to increasing demand rates, especially in the distinguished schools sector, which continues to contribute to the growth of the company’s total revenues.
The contribution amounted to Schools Distinguished AED 836.0 million during the 2023/24 academic year, representing 88.4 percent of total operating revenues, while the contribution of the government partnerships sector reached 11.6 percent.
As for non-operating revenues, they increased at an annual rate of 46.1 percent to record 11.1 million UAE dirhams, which was naturally reflected in the growth of the company’s total revenues at an annual rate of 15.8 percent to record 956.4 million UAE dirhams during the academic year 2023/24.
Operating costs increased at an annual rate of 14.5 percent to record AED 552.8 million during the 2023/24 academic year, compared to AED 482.9 million during the previous academic year. It is worth noting that the rate of increase in costs is proportional to the strong growth rate of revenues, which was reflected in a slight decline in total operating costs as a percentage of operating revenues from 59.0 percent to 58.5 percent.
On the other hand, general and administrative expenses declined at an annual rate of 3.9 percent during the 2023/24 academic year, to record 132.8 million UAE dirhams, which resulted in a decline in general and administrative expenses as a percentage of operating revenues at an annual rate of 2.8 percent to 14.0 percent.
This is due to the company’s success in maximizing the benefits of economies of scale, as a result of the increased focus on enhancing the efficiency of resources and administrative processes, and reducing the structure of overhead expenses, while at the same time maintaining the pace of its business growth. The decline in general and administrative expenses also reflects the decline in Board of Directors’ remuneration and compensation and a group of other benefits, which returned to their normal levels after the initial public offering of the company.education“.
rose Profits Operational EBITDA increased at an annual rate of 32.0 percent to record 270.8 million dirhams during the 2023/24 academic year, compared to 205.1 million dirhams during the previous academic year, accompanied by an increase in the operating profit margin to 28.6 percent, up from 25.1 percent during the comparison period. This is due to the company’s focus on enhancing operational efficiency, as well as the strategic expansions it has achieved in the distinguished schools and schools based on partnership with the government.
The company’s Distinguished Schools category topped the growth in operating profits before deducting taxes, interest, depreciation and amortization during the year, as operating profits for the sector alone rose at an annual rate of 16.0 percent to reach AED 258.5 million, compared to AED 222.9 million during the previous academic year.
This was accompanied by an increase in the sector’s operating profit margin to 30.9 percent, compared to 30.0 percent, thanks to the company’s success in expanding the range of distinguished educational services it provides, which resulted in higher revenues per student. Likewise, operating profits before deducting taxes, interest, depreciation and amortization for the category of schools based on partnerships with government agencies increased to 12.3 million AED, compared to operating losses amounting to 17.8 million AED during the previous academic year, as the company began to reap the fruits of the strategic expansions it achieved within Its business portfolio is the result of signing new government contracts.
Net profit before taxes increased at an annual rate of 55.1 percent to AED 182.0 million during the 2023/24 academic year, compared to AED 117.3 million during the previous year, accompanied by an increase in the net profit margin at an annual rate of 4.9 percent to record 19.3 percent.
This is due to the increase in operating profits in addition to the increase in financing income from the proceeds of the company’s initial public offering (IPO) process, which have not yet been fully collected.
It should be noted that the company is not obligated to pay the deferred tax provision to the Federal Tax Authority, which will be included in the company’s profit and loss report, as it will distribute the cost of some intangible assets over annual periods, provided that they are settled in full at the end of the expected life of some intangible assets, with the exception of the value Goodwill.
After calculating the aforementioned tax liabilities, the company’s net profit after taxes increased at an annual rate of 17.6 percent to 138.0 million AED during the 2023/24 academic year, compared to 117.3 million AED during the previous academic year, while the net profit margin after taxes increased at an annual rate. 0.3 percent to 14.6 percent during the year.
Total assets increased by 12.2 percent during the year 2023/24, to record 2,742.0 million UAE dirhams, compared to 2,443.0 million dirhams during the year 2022/23, driven by the strategic investments made by the company in property and equipment, the value of which increased at an annual rate of 16.4 percent to record 1,360.8 million UAE dirhams during the year 2023/24. Cash and cash equivalents also increased at an annual rate of 64.3 percent to reach 374.0 million dirhams, compared to 227.5 million dirhams during the previous year, as this reflects the improvement in the company’s cash liquidity.
Total obligations also increased at an annual rate of 33.3 percent to 1,028.5 million dirhams during the year 2023/24, compared to 771.6 million dirhams during the previous year. This is mainly due to an increase in bank loan obligations to 140.2 million dirhams, compared to 27.2 million dirhams during the comparison period, in addition to an increase in lease obligations by 24.9 percent to 292.4 million dirhams during the year 2023/24, which in turn came as a result of the signing of a new lease contract. For a plot of land in Dubai to establish a new school within the category of “super-excellent” schools.
These indicators reflect the strong financial position of Taaleem, in light of improved cash liquidity, which enhances the company’s ability to meet its short-term obligations with high flexibility and efficiency, while seizing the promising growth opportunities presented by the education sector.
The company was able to strengthen its financial position in general, as it witnessed a net decline Religion To reach negative AED 560.3 million during the financial period ending on August 31, 2024, noting that the increase in debt during the year is due to increasing financing needs to support the development of Dubai British Schools (DBS) in Jumeirah and Mira.
