National Learning net profit soars to SAR 71.1 mln in FY 2021/22; Q4 at SAR 16.2 mln

16/11/2022 Argaam Exclusive

National Company for Learning and Education (NCLE) reported a net profit after Zakat and tax of SAR 71.1 million for the fiscal year ended Aug. 31, 2022, compared to SAR 24.5 million in the year-earlier period.



Financials (M)

Item 2021 2022 Change‬
Revenues 187.19 315.69 68.6 %
Gross Income 70.41 126.51 79.7 %
Operating Income 33.04 78.99 139.1 %
Net Income 24.46 71.05 190.5 %
Average Shares 43.00 43.00 -
EPS (Riyals) 0.57 1.65 190.5 %

The company reported a 75% increase year-on-year (YoY) in revenue, mainly from a 29% rise in student count enrolled from 13,300 students a year earlier to 17,100 by the end of the current year. Further, tuition fees rose from the previous year, including exceptional discounts related to the repercussions of the COVID-19 pandemic that the company announced at that time.

 

In Q4 2021/22, net profit after Zakat and tax more than doubled to SAR 16.2 million, from SAR 6.96 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 47.30 81.97 73.3 %
Gross Income 21.47 34.34 59.9 %
Operating Income 10.02 18.28 82.5 %
Net Income 6.96 16.18 132.5 %
Average Shares 43.00 43.00 -
EPS (Riyals) 0.16 0.38 132.5 %

Compared to the previous quarter, NCLE’s net profit dropped 12.8% from SAR 18.56 million.

 

Total shareholders’ equity, no minority interest, increased to SAR 650.548 million by the end of the fiscal year, from SAR 614.999 million a year earlier.

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Share Price

National Company for Learning and Education
214.20
4.00 1.90 %

National Company for Learning and Education (NCLE)

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Financial Ratios
Current
Market Cap (M Riyal) 9,210.60
Enterprise Value (EV) (M) 9,205.80
Shares Outstanding ((M)) 43.00
EPS ( Riyal) (TTM) 3.67
Book Value (BV) ( Riyal) 18.45
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 11.61
Return on Average Assets (%) (TTM) 12.0
Return on Average Equity (%) (TTM) 21.1
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