Alkhaleej Training earns SAR 68.3M in H1 2024; SAR 3.3M in Q2

01/08/2024 Argaam Exclusive

Alkhaleej Training and Training Co. posted a net profit of SAR 68.3 million in H1 2024, compared with SAR 4 million in the prior-year period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 420.18 539.46 28.4 %
Gross Income 79.99 95.31 19.2 %
Operating Income 26.46 28.09 6.1 %
Net Income 4.04 68.31 1592.4 %
Average Shares 65.00 65.00 -
EPS (Riyals) 0.06 1.05 1592.4 %

The six-month revenues grew by 28% year-on-year (YoY) to SAR 119 million, driven mainly by a 42% leap in revenues from the call center segment, a 24% increase in revenues from the schools segment and an 83% leap in revenues from the project management division.

 

Meanwhile, the universities segment fell by 4% YoY due to a decrease in the services provided to clients as compared to H1 2023.

 

In the second quarter, the company reported a surge in net profit to SAR 3.3 million from SAR 320,000 in Q2 2023.

 

Meanwhile, Q2 2024 net earnings dropped 94.9% from SAR 65.02 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 211.86 262.97 24.1 %
Gross Income 39.44 48.41 22.8 %
Operating Income 13.10 23.25 77.6 %
Net Income 0.32 3.29 944.6 %
Average Shares 65.00 65.00 -
EPS (Riyals) 0.00 0.05 944.6 %

Total shareholders’ equity, after minority interest, reached SAR 513.77 million as of June 30, 2024, down from SAR 555.33 million a year earlier.

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Share Price

Alkhaleej Training and Education Co.
28.30
0.60 2.17 %

Alkhaleej Training and Education Co. (ALKHALEEJ TRNG)

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Financial Ratios
Current
Market Cap (M Riyal) 1,839.50
Enterprise Value (EV) (M) 2,355.29
Shares Outstanding ((M)) 65.00
EPS ( Riyal) (TTM) 0.42
Book Value (BV) ( Riyal) 8.43
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) More than 100
Price/book 3.36
Return on Average Assets (%) (TTM) 1.3
Return on Average Equity (%) (TTM) 5.1
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