Emirates Driving Company PJSC (EDC), the exclusive pre-licensing driving institute in Abu Dhabi, announced a modest financial growth in its first quarter of 2024, along with several strategic initiatives aimed at enhancing road safety and driver training quality.
Established in 2000, EDC has been at the forefront of driver education in Abu Dhabi. In collaboration with the Abu Dhabi Police, EDC is focusing on a new joint five-year strategy aligned with the UAE’s national plan. This initiative emphasizes artificial intelligence in training and examinations, sustainability, modern training techniques, and a professional competency framework for instructors.
Financially, Emirates Driving Company reported a revenue increase of 1% in Q1 2024, rising to AED 90,143 thousand from AED 89,389 thousand in the previous year. This growth contributed to an operational profit increase of 3% and an EBITDA jump of 12%, indicating efficient management and operational improvements.
Despite these positive trends, EDC’s total equity saw a 10% decrease, primarily due to dividends declared during the period. Total assets increased by 5%, and cash balances showed significant liquidity with an increase of 10%.
Market capitalisation, however, dipped to AED 3.362 million from AED 3.588 million at the end of 2023, reflecting a slight market revaluation of the company’s value.
The Emirates Driving Company is not just focused on financial metrics but is deeply involved in the broader community and infrastructure development. As a key contributor to the Abu Dhabi road safety education committee, EDC regularly inputs into the Integrated Transport Centre, linking training with traffic engineering to foster safer driving behaviours.
As Abu Dhabi continues to experience rapid population growth and urban development, EDC’s role in promoting safe and secure road mobility becomes increasingly critical. The company’s efforts to integrate AI and other modern technologies into their training programs are expected to set new standards in driver education and road safety in the region.
Khaled Mohammad Al Shemeili, CEO of Emirates Driving Company, emphasized the company’s commitment to its mission: “Our collaboration with Abu Dhabi Police and investment in new technologies and training methodologies reinforce our pledge to deliver the highest standards of driver education and contribute significantly to road safety in Abu Dhabi.”
As EDC continues to navigate through 2024, its strategic focus on technology, sustainability, and high-quality training is set to position it strongly in the marketplace while making a significant impact on road safety and driver competency in Abu Dhabi.
