Academy of Learning net profit up 12% to SAR 16.2 mln in 2021

31/05/2022 Argaam Exclusive

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Academy of Learning Co. (AOL), which is in the process for direct listing in Nomu-Parallel Market, reported a net profit of SAR 16.2 million for 2021, a 12% increase from SAR 14.5 million in 2020.

Financials (M)

Item	2020	2021	Change‬
Revenues	33.79	42.28	25.1 %
Gross Income	19.46	26.98	38.6 %
Operating Income	15.12	18.50	22.3 %
Net Income	14.53	16.20	11.5 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.16	0.18	11.5 %

The increase in the net profit is driven by higher revenue and gross profit margin, despite the increase in general and administrative expenses as well as selling and marketing expenses.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2020	H2 2021	Change‬

Item	H1 2021	H2 2021	Change‬
Revenues	18.00	24.28	34.9 %
Gross Income	11.80	15.18	28.6 %
Operating Income	7.93	10.57	33.2 %
Net Income	7.40	8.80	18.9 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.08	0.10	18.9 %

Shareholders’ equity, excluding minority interest, stood at SAR 93.2 million as of Dec. 31, 2021, increasing from SAR 20.7 million in 2020.

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