Dubai – Mubasher: Amanat Holdings recorded higher net profits attributable to owners valued at AED 143.31 million in 2024, compared to AED 49.18 million in 2023.
Basic and diluted earnings per share (EPS) from continuing operations increased to AED 0.05 from AED 0.01, according to the financial results.
The DFM-listed company generated revenues amounting to AED 796.09 million in 2024, an annual rise of 17% from AED 679.75 million.
Amanat's Chairman, Shamsheer Vayalil, said:"Amanat maintained strong momentum in 2024 with the execution of its growth strategy. Education performed strongly, as we achieved record enrolments and expanded our network of Special Education Needs centres.”
“In Healthcare, we continue to focus on expanding bed capacity in Saudi Arabia to address the critical need for Long-Term Care,” Vayalil added.
He revealed: “Additionally, we continue to progress our plans for an [initial public offering] IPO of our education business, further demonstrating our focus on realising value."
John Ireland, CEO of Amanat, added: "Amanat delivered strong results in 2024, as we focused on topline revenue growth. Revenue for the year increased 17% driving adjusted EBITDA growth of 10%.”
“Education saw record enrolments, with the momentum continuing into 2025, driven by the success of our international student recruitment strategy at MDX and the expansion of HDC's daycare centre network,” he noted.
The CEO stated: "Looking ahead, we continue to focus on driving growth with additional daycare centres under development in HDC, accelerated enrollment growth at MDX and the expansion of our LTC offering in Khobar and Jeddah."
Cash Dividends
The board members recommended final dividends of AED 40 million, equivalent to 1.60 fils per share.
Subject to the approval of the annual general assembly (AGM), the proposal brings the total cash dividend payout to AED 115 million, amounting to 4.60 fils per share.
Vayalil commented: "Our performance and commitment to returning value to shareholders enables us to pay an attractive dividend with a final dividend, subject to shareholder approval, of AED 40 million for 2024, bringing our total payout for the year to AED 115 million.”
In the first nine months (9M) of 2024, the net profits plummeted to AED 78.36 million from AED 88.24 million in 9M-23.
