Financial Results : Ataa Educational profit reaches SAR 67.8 mln in FY2022/23; Q4 at SAR 26.5 mln

Ataa Educational profit reaches SAR 67.8 mln in FY2022/23; Q4 at SAR 26.5 mln

26/10/2023 Argaam Exclusive

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Ataa Educational Co. reported a net profit of SAR 67.8 million for the fiscal year ended July 31, 2023, compared to SAR 70.6 million in the same period the previous year. 



Financials (M)

Item 2022 2023 Change‬
Revenues 592.32 680.36 14.9 %
Gross Income 133.62 195.24 46.1 %
Operating Income 67.20 106.75 58.9 %
Net Income 70.62 67.79 (4.0 %)
Average Shares 42.09 42.09 -
Earnings Per Share before unusual items (Riyals) 0.77 1.56 101.8 %
EPS (Riyal) 1.68 1.61 (4.0 %)

The profit decline was due to recording an increase in operating costs by 6% year-on-year (YoY), mainly due to salaries and wages. 

  

Financing costs rose by 31% YoY due to the financing related to the acquisition of the Arab Group for Education and Training, in addition to the increase in SIBOR prices. 

  

Marketing expenses related to the company’s marketing campaigns soared by 167% YoY. 

  

The company's Q4 2022/2023 earnings fell 76% to SAR 26.5 million, compared to SAR 15 million a year before. 

  

On a sequential basis, Ataa's fourth-quarter earnings soared from SAR 10.73 million. 



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 173.73 178.42 2.7 %
Gross Income 45.85 72.72 58.6 %
Operating Income 28.24 37.73 33.6 %
Net Income 15.04 26.45 75.8 %
Average Shares 42.09 42.09 -
Earnings Per Share before unusual items (Riyal) 0.36 0.58 61.1 %
EPS (Riyal) 0.36 0.63 75.8 %

Shareholders’ equity, no minority rights, reached SAR 824.98 million by the end of FY2022/23, compared to SAR 859.64 million a year before. 

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