Recent Research

• 

  FIRST LOOK NOTES

  07 Mar 2025

  Amanat Holding

  BUY

  Last Closing Price

  AED 1.08

  Target Price

  AED 1.30

  Upside (%)

  +20.37%

  UAE Equity Research - Amanat Holdings PJSC 4Q24 - First Look Note

  Amanat incurred a Zakat of AED 8 Mn in 4Q24 compared to AED 112 Mn in 4Q23. In the Education segment, Amanat witnessed record highest enrolments in FY2024 with the student base reaching c. 23,000. The Board of Directors recommended a cash dividend of 1.6 fils per share, amounting to AED 40 Mn for 2H24.

  Download
• 

  EARNINGS CALL INSIGHT

  18 Feb 2025

  Amanat Holding

  BUY

  Last Closing Price

  AED 1.12

  Target Price

  AED 1.30

  Upside (%)

  +16.07%

  UAE Equity Research - Amanat Holdings 4Q24 - Earnings Call Insight

  Revenue rose 24.4% YOY to AED 230 Mn in 4Q24 owing to the strong growth in the Education segment revenue partially offset by decline in Healthcare segment revenue. The total student base rose 18% YOY to c. 23,000 driven by growth in Middlesex university enrolments. NEMA Holding and HDC enrolments rose 14% & 29% respectively on a YOY basis.

  Download
• 

  FIRST LOOK NOTES

  29 Nov 2024

  Amanat Holding

  BUY

  Last Closing Price

  AED 1.07

  Target Price

  AED 1.30

  Upside (%)

  +21.50%

  UAE Equity Research - Amanat Holdings 3Q24 - First Look Note

  Amanat’s revenue grew 5.8% YOY to AED 133 Mn in 3Q24, driven by the growth in the Education segment partially offset by the Healthcare segment. Adjusted EBITDA fell 18.8% YOY to AED 18 Mn in 3Q24, while EBITDA margin declined 410 bps YOY to 13.6% in 3Q24.

  Download
• 

  FIRST LOOK NOTES

  04 Jun 2024

  Amanat Holding

  BUY

  Last Closing Price

  AED 1.04

  Target Price

  AED 1.28

  Upside (%)

  +23.08%

  Enrollment growth in the Education portfolio supported profits

  Amanat witnessed healthy growth in enrollment at Middlesex Dubai and HDC of 21% YOY and 18% YOY, respectively in 1Q24.

  Download
• 

  FIRST LOOK NOTES

  29 Nov 2023

  Amanat Holding

  HOLD

  Last Closing Price

  AED 1.18

  Target Price

  AED 1.28

  Upside (%)

  +8.47%

  Healthy contributions from HDC acquisition drove top-line

  Amanat witnessed healthy growth in enrollment at Middlesex Dubai and HDC of 19% YOY and 20% YOY, respectively in 9M32.

  Download
• 

  FIRST LOOK NOTES

  28 Aug 2023

  Amanat Holding

  BUY

  Last Closing Price

  AED 1.04

  Target Price

  AED 1.28

  Upside (%)

  +23.08%

  Consolidation of M&A and one-time gain boosted bottom line

  Completed the merger of Cambridge and Sukoon, creating the largest post-acute care facility in the GCC. • Expanded Human Development Company (HDC) network by adding two-day centres and plan to grow Middlesex’s entry across the GCC.

  Download

Load more reports