Ataa Educational net profit drops 51% to SAR 37.1 mln in FY2020/21

29/09/2021 Argaam Exclusive

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Ataa Educational Co. reported a net profit after Zakat and tax of SAR 37.1 million for the fiscal year ending on July 31, 2021, down 51%, compared to SAR 75.8 million a year earlier.

The profit decline was due to a fall in revenue by 17% year-on-year (YoY), driven by additional discounts amid school closures and the continuation of online learning.

Other revenue declined 38% YoY as a result of the suspension of students’ activities and canteens on school closures.

Financials (M)

Item	2020	2021	Change‬
Revenues	336.38	280.35	(16.7 %)
Gross Income	116.26	74.13	(36.2 %)
Operating Income	85.75	48.53	(43.4 %)
Net Income	75.80	35.52	(53.1 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	1.89	0.89	(53.1 %)

The company’s Q4 2020/21 net profit after tax and Zakat fell 35% YoY to SAR 19.4 million.

Shareholders’ equity (excluding minority rights) reached SAR 744.74 million in FY 2020/21, compared to SAR 749.05 million in the same period last year.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	86.70	93.40	7.7 %
Gross Income	40.70	28.14	(30.9 %)
Operating Income	32.95	20.56	(37.6 %)
Net Income	29.92	17.87	(40.3 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	0.75	0.45	(40.3 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	62.53	93.40	49.4 %
Gross Income	15.62	28.14	80.1 %
Operating Income	10.10	20.56	103.6 %
Net Income	6.34	17.87	181.7 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.16	0.45	181.7 %

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