Integrated Annual Report 2024
0
My Report
Download Center
Accessibility Panel
Learners & Educators
Investors
Partners
Employees
Others
Next Page
Previous Page
Print Page
Share
Download PDF
Add To My Report
Amit Choudhary
Chief Financial Officer
2023 - AED 0.0 Mn.
FY2024 was a year of steady growth with a corresponding stable financial performance for the Company. We delivered on our commitment to drive sustainable growth, maintain the efficiency of our operations despite macroeconomic pressures, and provide competitive returns for our shareholders.
The year’s results affirm the strength and scalability of our business model, with consistent revenue growth and resolute profitability metrics across the board.
2023 - AED 0.0 Mn.
2023 - 0.0%
Our profit increased by AED 28.1 Mn. in FY 2024; driven by higher revenues, and improved interest income, and owing to strict cost monitoring and control across our operations.
Similarly, our net profit margin continued to outperform industry benchmarks, with an improvement to 65% in FY 2024, up from 62% the previous year.
We successfully managed expenses, at AED 280.0 Mn. during the year; a hard-won 5% reduction in the face of inflationary pressures, which reflects our dedication to achieving cost savings across the board. This is a significant achievement that allowed for resource allocation to fuel the Company’s growth ambitions.
2023 - AED 0.0 Mn.
2023 - 0.0%
EBITDA rose 5% YoY to AED 512.2 Mn., reflecting our market leadership and resulting in an EBITDA margin of 67.5%, growing by 230 bps. This impressive result significantly exceeds industry benchmarks, and underscores the financial resilience of our business model and the cost-efficiency of our operations.
As at the end of December 2024, our total assets amounted to AED 922.7 Mn., compared to AED 621.8 Mn. as of 31 December 2023. With 80% of this comprised of current assets, despite the Group’s increased capital expenditure of AED 125.5 Mn. and the dividend payout to shareholders of AED 203.6 Mn., which was executed in Q3 2024.
We oversaw an increase in CAPEX investments during the year; representing vital and strategic allocation of resources to procure and scale new products, power new innovations, deepen relationships with customers, and launch new initiatives that will generate significant economic benefits in the long-term.
2023 - AED 0 Mn.
Our CAPEX investments encompassed purchase of the Arabits and Abjadiyat products, ongoing investments in our core products – Alef Pathways, Assessments, and allocations for the ongoing development of Miqyas Al Dhad; a pioneering new Arabic reading scale that is being developed through a JV partnership with MetaMetrics®.
This robust asset base, which includes innovative technologies and intellectual property in the EdTech sphere, provides a strong foundation for the Company’s continued organic growth while positioning us to navigate market changes and capitalise on emerging opportunities.
All key financial ratios for FY 2024 demonstrate strong and consistent performance against the previous year, despite additional liability arising from introduction of corporate tax starting in FY 2024.
FY 2023: 0.0x
FY 2023: 0.0%
FY 2023: 0.0%
FY 2023: 0%
The Company’s total liabilities at the end of the year amounted to AED 164.4 Mn., compared to AED 107.4 Mn. as of 31 December 2023, reflecting an increase of AED 57.0 Mn. A significant portion of the increase in liabilities is attributed to the corporate tax liability of AED 44.2 Mn., resulting from the introduction of corporate tax legislation in the UAE in FY 2024.
The Company’s balance sheet remained debt-free at the end of FY2024, giving us excellent financial flexibility, a robust cushion against the prevailing depressed economic conditions, and the freedom to pursue growth opportunities that may present as we follow a clearly defined strategy for growth and scale.
Our unlevered balance sheet remains a core strength. It is not just a marker of financial strength and stability, but also provides us with ample flexibility to fund future growth initiatives while maintaining consistent and attractive dividend distributions.
With the strong financial foundation we have established, the strategic growth trajectory we have envisioned, and the partnerships we have set in motion; We strongly believe that Alef Education is well-positioned to achieve and exceed performance targets while providing sustained value to our shareholders.
