Dubai school operator Taaleem moves closer to Dh1 billion in 2024-25 revenue

Dubai:  The Dubai headquartered school operator Taaleem is moving closer to generating revenues of over Dh1 billion for its current financial year. In the first nine months, the company’s cleared revenues of Dh984.2 million, up an impressive 18.5%. (Taaleem’s financial year runs 12 months from September, which is also the start of the school year in the UAE.)

On profits, Taaleem booked Dh242.3 million, a gain of 7.6% and at a rock-solid 24.6% margin.

The numbers add more clout to what will be a key period for the company, given that it’s building two of UK;s super-premium Harrow schools in Dubai and Abu Dhabi. Plus, there is the recent investment it made in the early education space by buying Kids First Group (KFG), which operates 34 nurseries.

“With our portfolio now comprising 38 schools and a student body exceeding 41,300, we remain well-positioned to capture further growth opportunities,” said Khalid Al Tayer, Chairman of Taaleem.

Big investments are pouring into the UAE's K-12 education space, with GEMS booking big-names as new shareholders.

The nursery category is also just as attractive, which explains Taaleem's move to acquire KFG, a deal that was confirmed last month. "With our acquisitions and expansions on track, we remain firmly focused on expanding our impact across the UAE’s education landscape," said Alan Williamson, CEO of Taaleem.

"We accelerated investment across our platform, with capex reaching Dh600.3 million - or 61% of operating revenue."

Taaleem also saw an increase in debt levels to Dh551.2 million to support the acquisitions and spending plans. "Our financial position remains strong with net debt at just Dh17.4 million," said Williamson.

"In the pipeline, we have the asset-light acquisition of KFG, poised to benefit from rising demand in the early education segment while maintaining financial prudence."

More to follow...