Financial Results : Horizon Educational posts 16% profit drop to SAR 4.7M in H1 2024/25

Horizon Educational posts 16% profit drop to SAR 4.7M in H1 2024/25

16/02/2025 Argaam Exclusive

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Horizon Educational Co. posted a profit of SAR 4.7 million in the first six months ended Dec. 31, 2024, down from SAR 5.6 million in the year-earlier period.

 


Current Half Annual Comparison (M)

Compared With The
Item H1 2024 H1 2025 Change‬
Revenues 21.15 20.45 (3.3 %)
Gross Income 6.39 5.49 (14.2 %)
Operating Income 5.38 4.35 (19.2 %)
Net Income 5.56 4.68 (15.7 %)
Average Shares 2.00 2.50 25.0 %
Earnings Per Share before unusual items (Riyals) 2.78 1.87 (32.6 %)
EPS (Riyals) 2.78 1.87 (32.6 %)

The year-on-year (YoY) decline is attributed to a 3.35% decrease in the number of students.

 

Moreover, the company endured additional costs from renting the new educational complex land in Dhahrat Laban, according to Standard No. 16 (under construction). Construction is expected to be completed in the second half of 2025 and operational in 2025/26.

 

Total shareholders’ equity, no minority interest, reached SAR 72.61 million as of Dec. 31, 2024, compared to SAR 71.65 million as of June 30, 2024.

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