National Co. For Learning & Education · TADAWUL:4291
National Co. For Learning & Education — National Company for Learning and Education — Q3 2025 Earnings Presentation
31 slides from National Co. For Learning & Education's earnings presentation, May 1, 2025
Slide 1: Investor Presentation Q3 2025
ww gulag yl! auibgll 6st PRESENTATION Q3 2025
Slide 2: Disclaimer
Disclaimer Information contained in this document is subject to change without further notice and it may not contain all material information concerning National Company for Learning and Education and its subsidiaries (the Company). The Company is not liable or responsible of accuracy of referenced
Slide 3: Overview
Overview 3
Slide 4: NCLE is celebrating its 67th anniversary since its inception in 1958
NCLE is celebrating its 67th anniversary since its inception in 1958 67 Years 17 31.9 k 45.3 k 3.4 K 10 4 17% CAGR SAR 1.4 Billion %22 SAR 90.3 M 9% 4
Slide 5: Enrolled students grew to 31.9k in Q3 2025 compared to 28.2k in FY 2024
Enrolled students grew to 31.9 k in Q3 2025 compared to 28.2 k in FY 2024 Established Location Owned / Leased Curriculum Optimal Capacity Enrolled Students Utilization 45,265 Student 31,922 Student 71 % Of Optimal Capacity Diversified Offering 5
Slide 6: Operational Updates
A. | CP YY - Operational Nn aN Fava Updates | \ Liat tie TLE
Slide 7: Educational Excellence Award
Educational Excellence Award Five NCLE schools received the Excellence Award in 2024. This recognition was earned after attaining excellence in the four standards of the National Program for School Evaluation and Excellence. The schools were honored by His Excellency the Minister of Education and th
Slide 8: Labor Award (Localization Track)
Labor Award (Localization Track) We’re proud to share that NCLE has once again received the prestigious Labor Award in the Saudization Track for 2024, marking a clear acknowledgment of our commitment to empowering national talent. This recognition, driven by the success of AlSalam Schools, reinforce
Slide 9: King Abdulaziz Quality Award
King Abdulaziz Quality Award We’re proud to announce that NCLE has received the King Abdulaziz Quality Award 2024 — the most prestigious quality award in the Middle East. This honor reflects our unwavering commitment to excellence and continuous improvement in education. 9
Slide 10: New Projects on Track: TNS Outperforming, MEIA and National School Meeting Targets
New Projects on Track: TNS Outperforming, MEIA and National School Meeting Targets 10
Slide 11: Qurtubah School remained largely stable after relocating national curriculum students
Qurtubah 1 School remained largely stable after relocating national curriculum students to the new Qurtubah 2 facility Enrollment 11
Slide 12: Al-Salam School rebounded in student enrollment after last year's decline
Al-Salam School rebounded in student enrollment after last year’s decline and continued its financial growth post-acquisition Net profit and enrollment soared, driving strong performance. Average tuition fees was increased in 23/24 Efficiency improved as student to staff ration increased 12
Slide 13: Financial Outlook
Financial Outlook 13
Slide 14: Change the Company's fiscal year end to July 31 instead of August 31
Change the Company’s fiscal year end to July 31 instead of August 31 On 4 July 2024, the extraordinary general assembly approved changing the company's financial year to start on the first of August and end by the end of July every year. Accordingly, the company’s financial statements were prepared
Slide 15: NCLE recorded its highest earning in Q3 2025
NCLE recorded its highest earning in Q3 2025 31.9 K SAR 492.5 M SAR 188.1 M +13% Growth +19% Growth +16% Growth SAR 120.8 M SAR 2.81 24.5% +21% Growth +21% Growth 0.9% Growth 99.9 15
Slide 16: NCLE maintained healthy financial growth in Q3 2025
NCLE maintained healthy financial growth in Q3 2025 Revenues Students Numbers SAR M Thousands Government Grants & Gross Profit /EBITDA/Net Subsidies Profit SAR M SAR M 9 Months 16
Slide 17: NCLE maintained healthy financial growth in Q3 2025
NCLE maintained healthy Financial growth in Q3 2025 Accounts Receivable Days Dividendes & Payout Ratio Days Debt / Equity Margins Percentage Percentage 9 Months 17
Slide 18: Gross Margin by Campus
Gross Margin by Campus 58% 53% 54% 55% 55% 53% 52% 50% 50% 51% 47% 49% 45% 45% 46% 43% 42% 41% 37% 34% 35% 35% 35% 32% 33% 16% (33%) - - (146%) - (56%) - TNS – AlRayyan TNS – AlRawabi TNS – AlNozha TNIS -Qurtubah TNS –Buraidah Al-Khwarizmi Al-Ghad - King TNS – TNS – AlAridh TNIS –Dhahran Al-Salam TN
Slide 19: NCLE Growth Drivers
NCLE Growth Drivers 19
Slide 20: The education market is growing, fueled by increasing private school and kindergarten penetration
The education market is growing, fueled by increasing private school and kindergarten penetration rates External factors Average annual Household Education Kindergarten Enrollment Rates in Saudi Arabia Expenditure in KSA (SAR) 90% 8,800 6,800 34% 21% 13% 2015 2019 2023 2030 Internal factors 2023 203
Slide 21: Privatization Set to Drive Growth in Private School Enrollment by 50%
Privatization Set to Drive Growth in Private School Enrollment by 50% External factors Vision 2030 sets targets to unlock the potential of This will lead to … private education through privatization ~550k Additional students in 17% 25% private schools Internal factors Excluding the impact of populat
Slide 22: Riyadh is at the heart of growth, hosting the majority of Vision 2030 projects
Riyadh is at the heart of growth, hosting the majority of Vision 2030 projects and driving Saudi Arabia's transformation External factors 8.6 mn 15 mn Riyadh Population Internal factors KSA Student Population (mn) Riyadh Student Population (mn) 6.80 1.7 6.72 6.56 1.64 1.58 6.32 1.5 21/22 22/23 23/24
Slide 23: Over the past five years, 10 greenfield schools have been launched
Over the past five years, 10 greenfield schools have been launched, paving the way for sustained growth External factors TNS- Buraidah TNS - Al-Qairwan TNS- Al-Aridh TNIS- Dhahran TNIS – Al-Aridh Internal factors Est. : Est. : Est. : Est. : Est. : Capacity : Capacity : Capacity : Capacity : Capacity
Slide 24: NCLE has outpaced market growth with a 17% CAGR
NCLE has outpaced market growth, doubling it annually over the past five years with a 17% CAGR External factors KSA Private Education growth Vs. NCLE growth (%) Internal factors * NCLE estimates. To be confirmed Students (‘000) Campuses 17 31.9 28.2 13 23.4 11 17.1 8 9 13.3 20/21 21/22 22/23 23/24 2
Slide 25: MEIA Academy has set a new benchmark for full-day system growth in private schools
MEIA Academy has set a new benchmark for full-day system growth in private schools across KSA External factors Contributed to utilization growth over the years Internal factors Delivered strong financial results 3 3 Driving growth going forward 32 % 18 % 25
Slide 26: Ishbiliyah Project
Ishbiliyah Project External factors Internal factors 26
Slide 27: Al-Rabie Project
Al-Rabie Project External factors Internal factors 27
Slide 28: Jeddah Project
Jeddah Project External factors Internal factors 28
Slide 29: Laban Project
Laban Project External factors Internal factors 24 Years (Including 2 Years grace period) SAR 2.54 mn annually and increase by 10% every 5 years with a total contract value of 68.7mn. 29
Slide 30: Q&A
Q&A 30
Slide 31: Thank You
culaillg ayy axibogll sil NATIONAL COMPANY FOR LEARNING & EDUCATION Thank You...
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