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.
| 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 | - |
| EPS (Riyals) | 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.
| 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 | - |
| EPS (Riyals) | 0.36 | 0.63 | 75.8 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 159.89 | 178.42 | 11.6 % |
| Gross Income | 36.07 | 72.72 | 101.6 % |
| Operating Income | 20.65 | 37.73 | 82.7 % |
| Net Income | 10.73 | 26.45 | 146.6 % |
| Average Shares | 42.09 | 42.09 | - |
| EPS (Riyals) | 0.25 | 0.63 | 146.6 % |
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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