Alef Education Holding Plc (Alef Education) has successfully concluded its inaugural Annual General Meeting (AGM).
Shareholders endorsed the Board of Directors’ report on the Company’s activities and financial statements for the year ending 31st December 2024 (FY 2024). They also approved a cash dividend of AED 199.2M for the second half of FY 2024, with AED 67.5M allocated to free float investors in April 2025.
This approval brings the total dividend for FY 2024 to AED 402.8M, reinforcing Alef Education’s commitment to sustainable shareholder returns. The Company’s dividend policy guarantees AED 135M for free float investors annually in 2024 and 2025.
At the AGM, Chairman Abdulhamid M. Saeed Alahmadi highlighted the Company’s strong financial and operational growth following its IPO on the Abu Dhabi Stock Exchange (ADX) in June 2024.
Alef Education reported a net profit before tax of AED 491.7M for FY 2024, marking a 6% year-on-year increase. The Company’s reach has expanded to 1.4 million students through its AI-driven learning solutions, generating revenues of AED 759M.
EBITDA rose 5% year-on-year to AED 512.2M, reflecting cost efficiencies and strong financial fundamentals. Alef Education achieved an EBITDA margin of 67.5%, driven by strategic B2B collaborations and stable long-term B2G contracts.
CEO Geoffrey Alphonso described 2024 as a transformative year, citing the successful IPO, rapid inclusion in the MSCI UAE Small Cap Index, and expanding strategic partnerships as key milestones. He reaffirmed the Company’s commitment to innovation and long-term value creation for shareholders and stakeholders.
The AGM also reviewed business development initiatives, including a three-year contract worth over AED 30M. Additionally, Alef Education partnered with MetaMetrics to launch Miqyas Al Dhad, an AI-powered Arabic literacy tool, supported by MoUs with various education ministries to drive regional adoption.
