Taaleem Holdings Pjsc · DFM:TAALEEM
Taaleem Holdings Pjsc — 9M 2024/25 Earnings Presentation
58 slides from Taaleem Holdings Pjsc's earnings presentation, 2025
Slide 1: Taaleem Holdings PJSC 9M 2024/25 Results Presentation
TAALEEM HOLDINGS PJSC 2024 COMPANY PROFILE 9M 2024/25 RESULTS PRESENTATION
Slide 2: Disclaimer
DISCLAIMER • These materials are the sole responsibility of Taaleem Holdings PJSC, ‘Taaleem’ (the “Company”, the “Group”) and contain both publicly available information and non-public information. These materials have been prepared solely for your information and for use at the quarterly earnings c
Slide 3: Table of Contents
I 9M 2024/25 Snapshot Page 4 TABLE OF II 9M 2024/25 Financial Performance Page 10 CONTENTS III IV Premium Segment Performance PPP Segment Performance Page Page 17 24 V Super-Premium and Premium Expansion Page 26 VI Early Childhood Education Expansion Page 30 VII FY 2024/25 Guidance Page 39 VIII Our
Slide 4: 9M 2024/25 Snapshot
9M 2024/25 OO) SNAPSHOT
Slide 5: Consolidated Financial Highlights
CONSOLIDATED FINANCIAL HIGHLIGHTS Optimally positioned balance sheet primed for investment Robust growth across all key financial indicators and growth Income & Investment (9M 2024/25) Balance Sheet (9M 2024/25) Operating Revenues* EBITDA Total Debt Net Debt AED 984.2 M AED 378.9 M operating revenue
Slide 6: 9M 2024/25 in Numbers: Growing Portfolio of Schools and Record-High Revenues
9M 2024/25 IN NUMBERS GROWING PORTFOLIO OF SCHOOLS AND RECORD-HIGH REVENUES Premium schools continue Utilisation declined as Growing capacity of Key to contribute the majority of operating revenues, booking Increased enrolment in the premium segment in new premium schools through capacities grew sig
Slide 7: Powering Education: Taaleem's Expanding Footprint Across the UAE
POWERING EDUCATION TAALEEM’S EXPANDING FOOTPRINT ACROSS THE UAE ‘Ajyal’ Emirates Schools 8 ‘Dubai Schools’ 3 Establishment Dubai Premium Schools Dubai ▪ Dubai School (Al Barsha) ▪ Al Ma ktoum Primary School 2023/24 Market Share* of ▪ Dubai School (Nad Al Sheba) Sharjah ▪ Al Qa ra yan School Abu Dhab
Slide 8: Strategic Entry into Early Education: Acquisition of Kids First Group
STRATEGIC ENTRY INTO EARLY EDUCATION ACQUISITION OF KIDS FIRST GROUP Taaleem to acquire 95% of Kids First Group (KFG) - a leading premium GCC renowned early-learning education provider 34 Nurseries in Dubai, Abu Dhabi, and c.5k students enrolled, with a total 2 additional nurseries planned in 2025,
Slide 9: Defensive, Diversified and Scalable: Transaction Rationale
DEFENSIVE, DIVERSIFIED AND SCALABLE TRANSACTION RATIONALE – FURTHER SUPPORTS TAALEEM GROWTH STRATEGY Strategic Entry into High-Growth Early Strengthening Taaleem’s Premium, ESG Childhood Education (ECE) Vertically Integrated Model Impact Rare opportunity to Underserved sector Provides access to a ac
Slide 10: 9M 2024/25 Financial Performance
9M 2024/25 Financial Performance II
Slide 11: Consolidated Income Statement Highlights
CONSOLIDATED INCOME STATEMENT HIGHLIGHTS Strong financial performance reflected in growing revenues, gross profit, EBITDA and net profit (after tax). Revenues (AED M) Gross Profit (AED M | % Margin) EBITDA Total Revenues (AED M | %(AED Margin) M) Net Profit (AED M | % Margin) 1,010.1 27.1% 24.6% 40.
Slide 12: Consolidated Revenues: Sustained Growth
CONSOLIDATED REVENUES | SUSTAINED GROWTH Operating revenues grew by 18.5% YoY in 9M 2024/25 primarily fuelled by 19.2% enrolment growth at our premium schools. Operating Revenue (AED M) Total Revenue by Vertical (AED M/%) Enrolment (000s) and Utilisation (%) Av. Gross Tuition Fees* (AED 000s) 26.0 M
Slide 13: Maintaining Cost Efficiencies While Investing in Talent & Quality
MAINTAINING COST EFFICIENCIES WHILE INVESTING IN TALENT & QUALITY To uphold Taaleem’s position as a leading educational institution and employer, we have increased the number of staff and the compensation and benefits to attract and retain top talent. While this strategic investment has temporarily
Slide 14: Consolidated Balance Sheet Highlights
CONSOLIDATED BALANCE SHEET HIGHLIGHTS Taaleem maintains a strong financial position by combining disciplined IPO fund deployment with targeted new financing to support expansion. Total Debt (AED M) Net Debt* (AED M) TotalCAPEX Revenues (AED(AED M) M) Lease Liabilities (AED M) FY 2023/24 9M 2024/25 E
Slide 15: Healthy Debt Profile Facilitates Accretive Acquisitions
CONSOLIDATED HEALTHY DEBT PROFILE FACILITATES ACCRETIVE ACQUISITIONS Total Debt (AED M) 9M 2024/25 Status Summary 551.2 Prudent leverage management AED 551.2M | Total Debt with a focus on sustainable 192.2 growth 3.9x 359.0 AED 17.4M | Net Debt 140.2 Strong interest coverage and 1.2 debt repayment c
Slide 16: Cashflow Generation: Ideally Positioned for Growth
CONSOLIDATED CASHFLOW GENERATION | IDEALLY POSITIONED FOR GROWTH Taaleem’s healthy cash generation and conservative leverage profile provide strong capacity to fund expansion, pursue strategic acquisitions, and drive long-term value creation Cash Balance Movement (AED M) – 9M 2024/25 Free Cash Flow
Slide 17: 9M 2024/25 Premium Schools Performance
9M 2024/25 Premium Schools Performance III
Slide 18: Taaleem's Diversified Portfolio: Premium Schools & PPP
TAALEEM’S DIVERSIFIED PORTFOLIO PREMIUM SCHOOLS & PUBLIC PRIVATE PARTNERSHIPS (PPP) Taaleem Premium Schools PPP: Dubai Schools PPP: Abu Dhabi Charter Schools PPP: ESE Ajyal Schools Total Revenue by Vertical (AED M/%) Owned and Operated by Taaleem Operated by Taaleem Operated by Taaleem Operated by T
Slide 19: Premium Schools: Expansion in Capacity and Enrolment
PREMIUM SCHOOLS EXPANSION IN CAPACITY AND ENROLMENT IN 9M 2024/25 Enrolment (thousand students) Revenue (AED M) EBITDA (AED M) CAPEX* (AED M) 43.5% 42.6% 10 12 83.0% 77.3% 58.7K 57.5K 16.7 367.3 862.1 319.9 596.2 14.0 19.2% 735.5 14.8% 17.2% 4.2x 141.6 9M 2023/24 9M 2024/25 9M 2023/24 9M 2024/25 9M
Slide 20: Premium Schools: Enrolment and Capacity Growth in Segment
PREMIUM SCHOOLS ENROLMENT AND CAPACITY GROWTH IN SEGMENT Enrolment growth across all 12 premiums schools under Taaleem’s Portfolio, utilisation affected by the remarkable increase in capacities. British IB | Dubai IB | Abu Dhabi American French Grand Total Curriculum 82%* 82% 74% 60% 64% 77% 9M 2024
Slide 21: Organic Growth: Ramp-Up Utilisation in Existing Schools
ORGANIC GROWTH RAMP-UP UTILISATION IN EXISTING SCHOOLS Taaleem’s strategy involves bringing up the utilisation Growth is achieved through the implementation of Those additional seats incur minimal extra costs and rate across both flagship school brands as well as its various optimisation initiatives
Slide 22: Premium Schools: Growing the Potential for New Students
PREMIUM SCHOOLS GROWING THE POTENTIAL FOR NEW STUDENTS AND LARGER STUDENT BASE Significant capacity growth in 2024/25 on the back of LLFP Meydan acquisition and the launch of DBS Jumeira After minimising the utilisation gap, there is now Number of Schools | Premium Schools additional room to grow wi
Slide 23: Emphasis on Teacher Retention
EMPHASIS ON TEACHER RETENTION ATTRACTING AND RETAINING TOP TEACHING TALENT TAALEEM | Teacher Retention Rates Certified Best School To Work At Taaleem, we believe in fostering a supportive, 77.6% 78.3% 80.2% growth-driven, and enriching environment for our educators. Our commitment to their well- bei
Slide 24: 9M 2024/25 PPP Schools Performance
9M 2024/25 PPP Schools Performance IV
Slide 25: Government Partnerships: Solidifying Leadership Position in UAE Education Market
GOVERNMENT PARTNERSHIPS SOLIDIFYING LEADERSHIP POSITION IN THE UAE EDUCATION MARKET Taaleem holds a unique position with strong business relations with the varying government bodies in the UAE 28.6% YoY capacity growth was driven by new state of the art Number of Schools campuses for ‘Dubai Schools’
Slide 26: Super-Premium and Premium Expansion
Super-Premium and Premium Expansion V
Slide 27: Riding the Momentum: Plans on Track to Boost Premium Capacity
RIDING THE MOMENTUM PLANS ON TRACK TO BOOST PREMIUM CAPACITY Expanding Taaleem’s already-established presence in Dubai and Abu Dhabi’s private Recent and Planned Capacity Additions until September education sector, capitalising on its strong brand names such as ‘Dubai British Schools’. 2027 Planned
Slide 28: Portfolio Growth: Greenfield Launches and Expansion
PORTFOLIO GROWTH GROWTH THROUGH GREENFIELD LAUNCHES AND EXPANSION Expansion | New Building Land and Buildings Acquisition New Super Premium School New Super Premium School New Premium School New Premium School Greenfield International DBS EH Expansion Harrow School Harrow School DBS Jumeira DBS Mira
Slide 29: DBS Mira Construction
DBS MIRA CONSTRUCTION HANDOVER IN COMING WEEKS, SET TO LAUNCH IN AY 2025/26 1.8k Seats Premium Upper Range Construction On Track September 2025 Planned Capacity Price Point Status Launch Date Taaleem Investor Presentation | 29
Slide 30: Early Childhood Education Expansion
Early Childhood Education Expansion VI
Slide 31: Early Childhood Education in the UAE: Market Overview
EARLY CHILDHOOD EDUCATION IN THE UAE MARKET OVERVIEW While underpenetrated, the highly-fragmented early childhood education market in UAE is undergoing rapid expansion, driven by strong private sector investment, supportive regulatory framework, growing expats and increasing women in the workforce,
Slide 32: Early Childhood Education in the UAE: Growing Demand in an Underserved Market
EARLY CHILDHOOD EDUCATION IN THE UAE GROWING DEMAND IN AN ALREADY UNDERSERVED MARKET UAE saw an estimated 10-15% shortage in the number of seats in 2022. This trend is likely to The number of seats are projected to increase by a CAGR of 3.1% continue in the coming years on the back of socio-economic
Slide 33: Setting the Standard in Regional Early Childhood Education: Kids First Group
SETTING THE STANDARD IN REGIONAL EARLY CHILDHOOD EDUCATION KIDS FIRST GROUP KFG has been operating KFG is a market leader in the GCC’s premium early education sector, offering 4 since 2011 different curricula through its multiple leading brands Status Fully Operational Impressive growth, expanding f
Slide 34: Taaleem's Acquisition of KFG: Transaction Overview
TAALEEM’S ACQUISITION OF KFG TRANSACTION OVERVIEW Taaleem to acquire a 95% stake in KFG for AED 912M, strengthening its nursery presence across the UAE and Qatar. The asset-light business will operate as a standalone vertical, with full management continuity and no impact on Taaleem’s dividend polic
Slide 35: Diverse Brand Ecosystem Across the Price Spectrum
DIVERSE BRAND ECOSYSTEM ACROSS THE PRICE SPECTRUM WITH A PREDOMINANTLY PREMIUM FOCUS Mapping of KFG’s Key Brands, Curricula & Pricing Average Tuition fee (2025)* KFG Nurseries Reggio Emilia UK EYFS IB PYP Montessori Dubai Abu Dhabi Other Nurseries AED/Yr AED/Yr Sample Average Mastermind Nursery 54,0
Slide 36: Value-Accretive Acquisition: Short and Long-Term Value
VALUE-ACCRETIVE ACQUISITION SHORT AND LONG-TERM VALUE THROUGH KFG ACQUISITION KFG FY2024 Acquisition Financing Split (AED, %) Enrolment & Capacity | KFG Nurseries Forecast Results (AED M) & Margins (%) 234.2 # of Nurseries Enrolment (000s) Capacity (000s) 11% Enrolment CAGR 185.0M c.20% 56 60 38% 51
Slide 37: Upside Post-Acquisition
UPSIDE POST-ACQUISITION VALUE ACCRETIVE GROWTH AND OPERATIONAL UPLIFT FOR TAALEEM Impact on Taaleem FY24/25 Strong Financial & Operational Upside Post-Acquisition (Taaleem & KFG) KFG consolidation 100% of KFG results will be consolidated in Taaleem’s financials from Jun-25 Estimated Operational Upli
Slide 38: KFG Acquisition Financing
KFG ACQUISITION FINANCING BREAKDOWN OF DEBT AND ITS EFFECT Unsecured Bullet Loan • KFG acquisition cost (AED 912.0M) will be paid out in full during Taaleem’s Q4 2024-25. • Financed by a mix of equity (AED 185M), and debt (AED 727M). • Loan repayment terms include c.5% p.a. interest payments, with t
Slide 39: FY 2024/25 Guidance
FY 2024/25 OO) Guidance Vil
Slide 40: FY 2024/25 Guidance – Consolidated for Taaleem Portfolio
FY 2024/25 GUIDANCE – CONSOLIDATED FOR TAALEEM PORTFOLIO STRONG 9M PERFORMANCE SUPPORTS FULL-YEAR TARGETS FY 2024/25 Guidance FY 2024/25 Guidance 9M 2024/25 Actual including KFG**** Excluding KFG Enrolment +23% YoY + 9.0% YoY + 9.1% YoY Growth YoY Op. Revenue + 24% YoY Growth YoY + 18.5% YoY + 19.5%
Slide 41: Our Blueprint for Growth
Our Blueprint for Growth VIII
Slide 42: Forging Ahead: Our Blueprint for Growth – Key Strategy Pillars
FORGING AHEAD | OUR BLUEPRINT FOR GROWTH KEY STRATEGY PILLARS A WELL-DEFINED GROWTH STRATEGY LEVERAGING TAALEEM’S CORE COMPETENCIES Organic Growth Inorganic Growth I II III IV V Expand premium school Add new capacities to Ramp-up utilisation in Government Acquisition of existing offerings and develo
Slide 43: Financial Statements
9M 2024/25 Financial Statements IX
Slide 44: Appendix: Income Statement
APPENDIX INCOME STATEMENT Taaleem Holdings PJSC | Summary Income Statement (AED M) 9M 2023/24 9M 2024/25 YoY% Variance Enrolment (000s) 38.0 41.4 9.0% 3.4 Operating Revenue 830.7 984.2 18.5% 153.5 Non-operating Revenue 9.8 26.0 164.0% 16.1 Total Revenue 840.6 1,010.1 20.2% 169.6 Operating Expense (4
Slide 45: Appendix: Balance Sheet
APPENDIX BALANCE SHEET Taaleem Holdings PJSC | Summary Balance Sheet (AED M) FY 2023/24 9M 2024/25 YtD% Variance Property and equipment 1,371.1 1,864.1 36.0% 493.1 Goodwill & other intangible assets 275.8 315.8 14.5% 40.0 Right of use assets on lease (IFRS 16) 260.3 259.1 -0.4% -1.1 Cash, cash equiv
Slide 46: Appendix: Cash Flow Statement
APPENDIX CASH FLOW STATEMENT Taaleem Holdings PJSC | Summary Cash Flow Statement 9M 2023/24 9M 2024/25 YoY% Variance AED M Net Cash Flows from Operating Activities 96.1 132.1 37.4% 35.9 Net Cash Flows from Investment Activities 19.7 -464.2 -2453.1% -483.9 Net Cash Flows from Financing Activities -58
Slide 47: Appendix
Appendix OO) X
Slide 48: Our Unique Strategic Positioning
OUR UNIQUE STRATEGIC POSITIONING MAKING QUALITY EDUCATION MORE ACCESSIBLE Premium Private Schools Competitive Landscape | Abu Dhabi & Dubai (Tuition in AED 000s vs. School Ratings – AY 2024/25) ⚫ Taaleem Schools + 1 Super- ⚫ Segment Average premium ⚫ Upcoming Schools School Ab u Dhab i (Dubai) M IRA
Slide 49: Tuition Fees Regulation
TUITION FEES REGULATION PROVIDING VISIBILITY AND AFFORDABILITY Strategy Behind Fee Increases Taaleem’s Av. Tuition Fee Vs. Market Range (000s) • Enabling continued investment to Reinforce our Premium Positioning • Finding the Optimal Balance between affordability and value creation Outstanding MIN M
Slide 50: Recent Trends Shaping UAE's Education Space
RECENT TRENDS SHAPING UAE’S EDUCATION SPACE DUAL SECTOR GROWTH LED BY PRIVATE K-12 EDUCATION Private School Enrolment Private vs. Public School Enrolment Government Expenditure % of Total Dubai UAE UAE 6.2% CAGR 15.3% Enrolment (000s) 22% 14.5% 226k 755k 387 Students 48% 366 Students 52% 13.2% 326
Slide 51: Government Partnerships: Revenue Growth in the High Double-Digits
GOVERNMENT PARTNERSHIPS REVENUE GROWTH IN THE HIGH DOUBLE-DIGITS Enrolment (thousand students) Revenue (AED M) EBITDA (AED M) CAPEX (AED M) 91.8% 73.6% 22 26 21.1% 10.2% 22 26 24.0 24.7 19.0 16.4 122.1 95.2 -38.9% -89.6% 3.0% 11.6 28.2% 1.7 9M 2023/24 9M 2024/25 9M 2023/24 9M 2024/25 9M 2023/24 9M 2
Slide 52: Government Partnerships: Delivering High Quality Education to More Students
GOVERNMENT PARTNERSHIPS DELIVERING HIGH QUALITY EDUCATION TO MORE STUDENTS ADEK* | Charter Schools KFE* | ‘Dubai Schools’ ESE* | ‘Ajyal Schools’ Grand Total Partner 93% 34% 80% 74% 9M 2024/25 9M 2024/25 9M 2024/25 9M 2024/25 utilisation utilisation utilisation utilisation 0.8% YoY 61.6% YoY 4.
Slide 53: Premium Segment Driving Profitability
PREMIUM SEGMENT DRIVING PROFITABILITY STRATEGIC FOCUS ON PREMIUM OFFERINGS 9M 2024/25 Premium EBITDA Margin Progression K-12 EBITDA Margin Progression** Segment Contribution Premium Schools vs PPP Schools Premium schools were 33.1 pts more profitable than PPP in 9M 24/25 50.0% 42.6% 38.5% 40.0% Cont
Slide 54: Robust Enrolment Growth and Strong Student Retention
ROBUST ENROLMENT GROWTH AND STRONG STUDENT RETENTION WITHIN OUR PREMIUM SEGMENT Enrolment by Curriculum Enrolment by Grade Level Premium School Enrolment (thousand students) Transition Rates Total Enrolment CAGR: 17% 3.4% 13.1% 91% 8.0% Pre-Expansion Enrolment CAGR*: 9% 35.7% 16.7k 41.9% 16.7k 16.7
Slide 55: Harrow Schools: Planned Launch of Super-Premium Schools
HARROW SCHOOLS PLANNED LAUNCH OF SUPER-PREMIUM SCHOOLS Harrow International Schools Limited (HISL) is a distinguished network of In a significant move, Taaleem has entered a strategic alliance with international schools tracing its origins to the esteemed Harrow School Harrow International Schools L
Slide 56: DBS Emirates Hills Expansion
DBS EMIRATES HILLS EXPANSION ADDITIONAL LAND AND PROPERTY ACQUISITION FOR EXPANSION Taaleem acquired prime land and buildings from Amity Early Learning Centre, just 300 meters from DBS Emirates Hills (EH), in a private off-market transaction to expand student capacity. DBS EH Enrolment to Date Prime
Slide 57: School Acquisition: Lycee Libanais Francophone Prive Meydan
SCHOOL ACQUISITION LYCEE LIBANAIS FRANCOPHONE PRIVE MEYDAN (LLFPM) Acquisition of LLFP MEYDAN in a private off- Campus Size market transaction 35,700 sqm Status Highly Commended Fully Operational Rated “Very Good”, LLFP is one of the most respected Francophone schools Capacity in Dubai. +2,000 Stude
Slide 58: Investor Relations Contact
M IRA | Under Construction | Investor Relations Contact Nora Ghannam, MBA Head of Investor Relations nghannam@taaleem.ae Taaleem Investor Presentation | 58
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