AOL profit drops 17% to SAR 12.1M in H1 2024/25

Academy of Learning (AOL) reported a net profit of SAR 12.1 million for H1 2024-2025, which ended in December 2024, marking a 17% year-on-year (YoY) decline from SAR 14.5 million.

AOL recorded SAR 11.4 million operational losses in the new branches in Riyadh and Dammam as they are in the initial operating stage. It is expected to enter the actual operating stage in August 2025.

Excluding this non-recurring item, the net income for the period is SAR 23.4 million, with a growth rate of 61% compared to the year-earlier period.

In addition, marketing and selling expenses increased to SAR 11.9 million in H1 2024/25, compared to SAR 6.9 million in the year-earlier period.

Moreover, financing costs increased to SAR 3.66 million in H1 2024/25, compared to SAR 1.49 million in the year-earlier period. This rise is due to the financing costs related to the right-of-use assets for the lease of new branch premises, which are expected to enhance the company’s future growth rates.

On the other hand, the company’s revenue increased in H1 2024/25 to SAR 75.56 million, at a growth rate of 40% YoY. The increased revenue was driven by the rise in the number of branches and the addition of new programs at the previously established branches, resulting in an increase in the number of students and a rise in occupancy rates.

Shareholders’ equity, excluding minority interest, increased in H1 2024/25 to SAR 123.07 million from SAR 111.77 million in H2 2023/2024.

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