National Co. For Learning & Education · TADAWUL:4291
National Co. For Learning & Education — National Company for Learning and Education — Q1 2025 Earnings Presentation
43 slides from National Co. For Learning & Education's earnings presentation, May 1, 2025
Slide 1: Investor Presentation Q1 2025
ww gulag yl! auibgll 6st PRESENTATION Q1 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 31.8 k 45.3 k 3.4 K 10 4 17% CAGR SAR 1.47 Billion 20% SAR 90.3 M 4% 4
Slide 5: Enrolled students grew to 31.8k in Q1 2025 compared to 28.2k in FY 2024
Enrolled students grew to 31.8 k in Q1 2025 compared to 28.2 k in FY 2024 Established Location Owned / Leased Curriculum Optimal Capacity Enrolled Students Utilization % 45,265 Student 31,752 Student 70% Of Optimal Capacity Diversified Offering 5
Slide 6: Enrollments
13 نغس ساليد 2024/2025 Enrollments 6
Slide 7: Al-Rayyan School Campus Highlight
Al-Rayyan School Campus Highlight 92% 5,250 2025 614 4,226 National 2024 447 4,005 +9% MEIA 2023 264 3,540 2022 110 3,153 International National 7
Slide 8: Al-Rawabi School Campus Highlight
Al-Rawabi School Campus Highlight 2025 1,818 2,639 National 2024 1,653 2,502 +7% International 2023 1,397 2,403 2022 1,228 2,146 International National 8
Slide 9: Al-Nozha School Campus Highlight
Al-Nozha School Campus Highlight 2025 752 2,616 +0.5% National 2,702 2024 644 MEIA 2023 367 2,620 2022 183 2,381 International National 9
Slide 10: Qurtubah 1 School Campus Highlight
Qurtubah 1 School Campus Highlight 2025 742 - 67% 2024 441 822 International 2023 329 705 2022 517 206 International National National curriculum students are excluded from the chart as they were transferred ("reallocated") to the new Qurtubah 2 campus starting in the 2024/2025 academic year 10
Slide 11: Buraidah School Campus Highlight
Buraidah School Campus Highlight YOY student growth 2025 1,165 968 National 2024 1,033 1,005 International +5% 2023 779 786 2022 452 442 International National 11
Slide 12: Al-Khwarizmi School Campus Highlight
Al-Khwarizmi School Campus Highlight 2025 2025 1,146 1,146 National National -4% -4% 2024 2024 1,193 1,193 2023 2023 1,174 1,174 2022 2022 1,132 1,132 12
Slide 13: Al-Ghad (King Abdullah district) School Campus Highlight
Al-Ghad – (King Abdullah district) School Campus Highlight 2025 1,560 -8% National 2024 1,690 2023 1,686 2022 1,594 13
Slide 14: Al-Qairwan School Campus Highlight
Al-Qairwan School Campus Highlight YOY student growth 2025 1,679 2,440 National 2024 1,534 2,390 +5% International 2023 1,254 1,993 2022 979 1,331 International National 14
Slide 15: Al-Aridh National School Campus Highlight
Al-Aridh National School Campus Highlight 2025 2,628 National 2024 2,376 +10% 2023 1,599 2022 941 * International curriculum students is excluded from the chart across the years as they were transferred to the new campus (Aridh 2) starting from 2023/2024 academic year. 15
Slide 16: Al-Dhahran School Campus Highlight
Al-Dhahran School Campus Highlight YOY student growth 2025 1,035 International 2024 846 +22% 2023 394 16
Slide 17: Al-Salam School Campus Highlight
Al-Salam School Campus Highlight National 2025 1,522 2024 1,486 +2% 2023 1,543 2022 1,450 17
Slide 18: Al-Ghad - AlQairwan School Campus Highlight
Al-Ghad - AlQairwan School Campus Highlight National 2025 473 2024 385 +23% 18
Slide 19: Al-Aridh International School Campus Highlight
Al-Aridh International School Campus Highlight 2025 1,353 International 2024 1,003 2023 571 +35% 2022 346 19
Slide 20: National School Campus Highlight
National School Campus Highlight National 2025 68 20
Slide 21: Al-Narjis Campus Highlight
Al-Narjis Campus Highlight National 2025 730 21
Slide 22: Qurtubah 2 Campus Highlight
Qurtubah 2 Campus Highlight YOY students Enrollment National International 2025 82 1,408 International National 22
Slide 23: MEIA - AlQairwan Campus Highlight
MEIA -AlQairwan Campus Highlight International 2025 88 23
Slide 24: Operational Updates
A. | CP YY - Operational Nn aN Fava Updates | \ Liat tie TLE
Slide 25: Educational Excellence Award
Educational Excellence Award Five NCLE schools received the Excellence Award. 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 the Presid
Slide 26: National School and MEIA Qairawan met targets despite lower enrollments
National School and MEIA Qairawan met targets despite lower enrollments compared to typical new TNS projects, reflecting long-term growth plan 26
Slide 27: Qurtubah 1 School remained largely stable after relocating students
Qurtubah 1 School remained largely stable after relocating national curriculum students to the new Qurtubah 2 facility Enrollment 27
Slide 28: 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 Average tuition fees was increased in 23/24 Efficiency improved as student to staff ration increased Net profit and enrollment soared, driving strong performance. 28
Slide 29: Financial Outlook
Financial Outlook 29
Slide 30: 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 31: NCLE recorded its highest earning in Q1 2025
NCLE recorded its highest earning in Q1 2025 31.8 K SAR 163.7 M SAR 59.4 M +13% Growth +16% Growth +19% Growth SAR 38.1 M 0.89 SAR 23.3% +23% Growth +23% Growth 23% Growth 31
Slide 32: NCLE maintained healthy financial growth in Q1 2025
NCLE maintained healthy financial growth in Q1 2025 Revenues Students Numbers SAR M Thousands Government Grants & Gross Profit /EBITDA/Net Subsidies Profit SAR M SAR M Quarter 32
Slide 33: NCLE maintained healthy Financial growth in Q1 2025
NCLE maintained healthy Financial growth in Q1 2025 Accounts Receivable Days Dividendes & Payout Ratio Days Debt / Equity Margins Percentage Percentage Quarter 33
Slide 34: Gross Margin by Campus
Gross Margin by Campus 59% 53% 55% 54% 51% 53% 53% 51% 50% 51% 46% 47% 43% 43% 44% 42% 41% 40% 36% 36% 37% 35% 34% 33% 31% (15%) N/A N/A (145%) N/A (77%) N/A TNS – AlRayyanTNS – AlRawabi TNS – AlNozha TNIS -Qurtubah TNS –Buraidah Al-Khwarizmi Al-Ghad - King TNS – TNS – AlAridh TNIS –Dhahran Al-Salam
Slide 35: NCLE Growth Drivers
NCLE Growth Drivers 35
Slide 36: 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 Growth Drivers TNS- Buraidah TNS - Al-Qairwan TNS- Al-Aridh TNIS- Dhahran TNIS – Al-Aridh Est. : Est. : Est. : Est. : Est. : Capacity : Capacity : Capacity : Capacity : Capacity : Utilization : Ut
Slide 37: 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 Growth Drivers KSA Private Education growth Vs. NCLE growth (%) * NCLE estimates. To be confirmed Students Campuses 37
Slide 38: MEIA Academy has set a new benchmark for full-day system growth
MEIA Academy has set a new benchmark for full-day system growth in private schools across KSA Growth Drivers Contributed to utilization growth over the years Delivered strong financial results Driving growth going forward 100 % 43 % Al-Nozha Al-Rayyan 38
Slide 39: The education market is growing, fueled by increasing private school penetration
The education market is growing, fueled by increasing private school and kindergarten penetration rates Growth Drivers 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 2023 2030 Female Participat
Slide 40: Privatization Set to Drive Growth in Private School Enrollment by 50%
Privatization Set to Drive Growth in Private School Enrollment by 50% Growth Drivers 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 Excluding the impact of population growth ~50% 1.2
Slide 41: Riyadh is at the heart of growth, hosting Vision 2030 projects
Riyadh is at the heart of growth, hosting the majority of Vision 2030 projects and driving Saudi Arabia's transformation Growth Drivers 8.6 mn 15 mn Riyadh Population 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 24/25 21/22 22/23
Slide 42: Q&A
Q&A 42
Slide 43: Thank You...
culaillg ayy axibogll sil NATIONAL COMPANY FOR LEARNING & EDUCATION Thank You...
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