Alef Education’s revenue declined 5.2% YOY to AED 197 Mn in 4Q25, mainly due to the decline in revenue from Support & Services segment partially offset by increased in revenue from Education Solution Fees segment.
UAE Equity Research - Alef Education Holding PLC 3Q25 - First Look Note
Signed six new contracts in 9M25 with a total contract value of AED 57 Mn. Added c. 4,000 new students through charter-school migration initiative. Serves 180 schools, with c. 122,000 paying students, capturing roughly 35% of the UAE’s private school market.
The Company’s revenue remained flat at AED 178 Mn, while EBITDA grew 3.7% YOY to AED 135 Mn in 2Q25. Miqyas Al Dhad reached 87% completion as of 2Q25 and is set to be launched during 4Q25.
UAE Equity Research - Alef Education Holding PLC 1Q25 - First Look Note
Miqyas Al Dhad has reached 86% completion as of 1Q25 and is set to be launched during 3Q25. The Company has remained debt-free since its establishment. Alef Education extended its contract with ADEK for three more years providing revenue visibility till 2033.
Alef’s Education Holding’s net profit rose 2% YoY to AED 115.3 Mn in 1Q25 driven by consistent top line growth with the successful execution of new contracts, increase in Interest income and company’s continued focus on operational efficiency partially offset by increase in Income tax expense leading to a stable net profit margin of 64%. (EPS is 1.65 fils for 1Q25)
UAE Equity Research - Alef Education Holding PLC (ALEFEDT) 4Q24 - First Look Note
Alef Education is included in MSCI UAE Small Cap Index. The number of paid schools served increased from 82 in 2023 to 167 in 2024 in B2B segment. The Company holds a 25% to 30% market share in the UAE's B2B segment.
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