Ataa expects improved results on educational segment gains: CEO

Fahad Altuwaijry, CEO of Ataa Educational Co.

Ataa Educational Co.’s CEO Fahad Altuwaijry expects an improvement in the company’s financial results, particularly in the educational segment, driven by increased student enrollment during the second semester, the implementation of a cost-efficiency plan and the acquisition of new projects.

In a statement to Argaam on the company’s financial results for Q1 2024/2025, Altuwaijry said that revenues were dragged down by a 33% year-on-year (YoY) decline in the training segment’s revenue and operating expenses associated with the opening of Buckswood International Schools.

 He added that the education segment’s profits declined by 7.8% YoY due to higher operational costs related to the opening of the new schools, which is the normal outcome for new projects.

The CEO said that the narrowing of recruitment segment’s losses was supported by the cost-efficiency plan.

The Rowad Al-Izdihar Complex continues to be the largest contributor to the company’s revenues, he said.

Meanwhile, Altuwaijry pointed out that the number of students increased by 1.4% in Q1 2024/2025 to about 44,960, up from 44,350 in the same quarter a year earlier.

The following table shows the segments’ performance as per the CEO’s statement:

According to Argaam, Ataa Educational reported a decline in net profit to SAR 19.6 million at the end of Q1 2024/2025, from SAR 22.1 million in 2023.