Taaleem Holdings’ Earns Net Profit of $75.58 Million for Nine Months Ending May
- Business Companies Regional
Global Business Magazine- 4 minutes read
Taaleem Holdings, a leading K-12 premium education provider in the UAE with a portfolio spanning 32 schools, has announced its financial results for the 9-month period ending 31 May 2024 with robust double-digit growth across its key indicators, including revenues, EBITDA and net profit.
The company posted a net profit of $75.58 million, an increase of 38.9% y-o-y during the period while the operating revenue of the company was $226.16 million, registering a growth of 15% y-o-y and the while the EBITDA was $92.27 million.
Taleem Holdings Chairman Khalid Al Tayer said that the past nine months have marked a period of robust growth for Taaleem as the total enrolment surged by 32.9% y-o-y, bolstered by the addition of capacity for 9,200 students through new government schools.
Despite this rapid expansion, Taleem’s blended utilisation has risen to 88.4%, up 3.8% from last year, underscoring the effectiveness of its growth strategy.
Looking ahead to the upcoming academic year, Taleem is poised to add approximately 2,400 seats to our premium segment, with the construction Dubai British School Jumeira now complete, and the expansion of Greenfield International School nearing completion.
“With a robust portfolio encompassing 32 schools and serving over 37,954 students, we remain dedicated to nurturing young minds and championing sustainable practices across our campuses. As we pursue further growth, sustainability remains central to our vision, ensuring a brighter future for generations to come,” he added.
Taleem Holdings CEO Alan Wilson said that their top-line growth for the period was significantly bolstered by an impressive increase in enrolment across all of our schools, particularly under the premium segment which saw its overall utilisation surge by 7.5% y-o-y to come in at 83%.
This achievement underscores Taleem’s unwavering commitment to providing top-tier education and meeting the evolving needs of the students and their families, he said.
“The company has also entered into a master agreement with Harrow International Schools Limited (HISL), granting Taaleem the exclusive right to own and operate Harrow International Schools across the UAE, Saudi Arabia, Bahrain, Oman, Qatar, and Kuwait,” he said.
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The DBS Jumeira has a capacity to accommodate up to 1,900 students and the expansion of the Greenfield International School (GIS) is progressing as planned, with its foundation completed in April 2024. This expansion aims to introduce 20 new classes and accommodate an additional 500 students for the upcoming academic year.
Simultaneously, construction commenced as scheduled for the fifth planned branch of the Dubai British Schools network, DBS Mira, with its completion by August 2025. The first nine months of the year also saw Taaleem welcome 6 new government partnership schools, further solidifying its track record with key government entities.
The recently established Khalifa City Campus at Raha International School (RIS) contributed significantly to the overall growth in the nine months in 2023-24, with enrolment up by an impressive 31.4% y-o-y as it absorbed excess demand from the original RIS Gardens Campus. Following closely, Jebel Ali School experienced a notable 14.5% y-o-y surge in enrolment, accommodating 1,970 students and reflecting the success of its post-acquisition strategy.
