Alef Education Shareholders Approve AED 402.8 Million Final Cash Dividend for Year 2024 Following Strong Financial Performance
Alef Education Holding Plc ('Alef Education' or 'the Company'), an award-winning AI-driven learning solutions provider, today announced the successful conclusion of its first Annual General Meeting ('AGM'). Shareholders approved the Board of Directors' report on the Company's activity and its financial statements for the financial year ended December 31, 2024 ('FY 2024'), including the distribution of cash dividends amounting to AED 199.2 million for the second half of FY 2024 of which AED 67.5 million will be distributed to free float investors in April 2025.
The approval brings the total dividend for FY 2024 to AED 402.8 million, underscoring Alef Education's commitment to delivering sustainable value to its shareholders through a robust and transparent dividend policy promising a total of AED 135 million to its free float investors in each year 2024 and 2025.
Strong Financial Performance and Strategic Growth
During the AGM, H.E. Abdulhamid M. Saeed Alahmadi, Chairman of Alef Education, highlighted the Company's strong financial and operational performance since its landmark IPO on the Abu Dhabi Stock Exchange ('ADX') in June 2024. Alef Education delivered strong financial results in FY 2024, reporting a net profit before tax of AED 491.7 million, reflecting 6% year-on-year growth. With the expansion of Alef Education's footprint, now reaching 1.4 million students through innovative learning solutions, the Company reported Revenues of AED 759.0 million.
EBITDA surged by 5% year-on-year to reach AED 512.2 million, reaffirming Alef Education's solid financial foundation supported by cost optimization initiatives. The Company achieved an EBITDA margin of 67.5%, driven by strategic B2B partnerships and the resilience of long-term B2G contracts.
Geoffrey Alphonso, Chief Executive Officer of Alef Education, commented : '2024 was a transformational year for Alef Education. Our successful IPO, swift inclusion in the MSCI UAE Small Cap Index, and our expanding strategic partnerships solidify our position as a leader in AI-powered education. As we continue to drive innovation and operational excellence, we remain committed to delivering long-term value for our shareholders, students, and stakeholders.'
Investing in Future Growth & Innovation
The AGM also highlighted key business development initiatives undertaken by the Company during FY 2024. As part of its growth strategy, Alef Education secured a contract worth more than AED 30 million for a three-year period. Additionally, Alef Education partnered with MetaMetrics® to develop Miqyas Al Dhad, an innovative tool designed to advance Arabic literacy across the Arab world. Alef Education has strengthened its presence having signed several Memorandums of Understanding ('MoU's) with ministries of education across multiple countries, facilitating the adoption of this new AI-powered Arabic literacy tool.
Looking ahead, Alef Education will continue to invest in AI-driven learning solutions, enhance operational efficiencies, and scale its presence. With a well-defined strategy and a dominant market position in the UAE, the company aims to unlock new growth opportunities, expand into key markets, and sustain long-term profitability.
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