Academy of Learning inks SAR 405.14M training agreement with Hadaf
Academy of Learning Co. signed a SAR 405 million training contract with Hadaf, boosting its project backlog. The deal ties training directly to job placement, AOL said.
Academy of Learning Co. signed a SAR 405.14 million contract with the Human Resources Development Fund, Hadaf, to deliver employment-linked training and qualification programs. The agreement runs through a phased implementation schedule, AOL said in a filing.
The contract falls under Hadaf's training and employment support initiative, which ties government-funded courses to actual job placements. AOL will provide the training infrastructure, curriculum, and certification pathways, according to the company.
The deal adds to AOL's project backlog, a key metric for the company's revenue visibility. At the end of the last reported quarter, AOL's backlog stood at SAR 1.2 billion. The new contract represents roughly one-third of that amount.
Hadaf, the Saudi government's employment fund, has awarded multiple training contracts this year as part of the Vision 2030 push to boost private-sector hiring of nationals. AOL did not disclose the expected revenue recognition timeline or the contract's impact on current-year earnings.
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