Financial Results : National Education posts 1% profit rise in Q1 2019/2020

National Education posts 1% profit rise in Q1 2019/2020

07/01/2020 Argaam Exclusive

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National Company for Learning and Education (NCLE) posted a marginal rise of 1.4% year-on-year (YoY) in net profit after zakat and tax to SAR 11.63 million for Q1 ending on Nov. 30, 2019.

 

The profit growth was driven by improved revenue and lower financing costs.

 

In addition, NCLE’s net profit increased despite a decrease in government grants and subsidization, and increase in zakat expenses during the current quarter.

When compared to the previous quarter, net profit after zakat and tax fell 12.4%, due to a decline in the last quarter’s cost of sales amid schools’ summer vacation.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 52.53 52.10 (0.8 %)
Gross Income 21.08 20.23 (4.0 %)
Operating Income 12.86 12.34 (4.0 %)
Net Income 11.48 11.64 1.4 %
Average Shares 43.00 43.00 -
EPS (Riyals) 0.27 0.27 1.4 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 59.74 - 23.32 - 16.56 -
Q2 2017 60.43 - 22.14 - 17.17 -
Q3 2017 58.07 - 22.32 - 14.73 -
Q4 2017 58.48 - 33.38 - 26.07 -
Q1 2018 55.47 (7.2 %) 20.36 (12.7 %) 12.91 (22.0 %)
Q2 2018 54.00 (10.6 %) 18.98 (14.3 %) 12.85 (25.2 %)
Q3 2018 56.41 (2.9 %) 22.05 (1.2 %) 14.46 (1.8 %)
Q4 2018 54.08 (7.5 %) 20.95 (37.2 %) 14.49 (44.4 %)
Q1 2019 52.53 (5.3 %) 21.08 3.5 % 12.86 (0.4 %)
Q2 2019 52.22 (3.3 %) 21.37 12.6 % 12.07 (6.1 %)
Q3 2019 51.36 (8.9 %) 21.32 (3.3 %) 10.86 (24.9 %)
Q4 2019 51.22 (5.3 %) 23.56 12.5 % 13.35 (7.8 %)
Q1 2020 52.10 (0.8 %) 20.23 (4.0 %) 12.34 (4.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 15.06 - 0.50 - 15.06 0.50
Q2 2017 15.82 - 0.53 - 15.82 0.53
Q3 2017 13.27 - 0.44 - 13.27 0.44
Q4 2017 23.74 - 0.79 - 23.74 0.79
Q1 2018 11.01 (26.9 %) 0.37 - 11.01 0.37
Q2 2018 11.42 (27.9 %) 0.38 - 11.42 0.38
Q3 2018 12.86 (3.1 %) 0.43 - 12.86 0.43
Q4 2018 13.59 (42.7 %) 0.45 - 13.59 0.45
Q1 2019 11.48 4.2 % 0.27 - 11.48 0.27
Q2 2019 12.17 6.6 % 0.28 - 12.17 0.28
Q3 2019 13.46 4.7 % 0.31 2.50 10.96 0.25
Q4 2019 13.29 (2.2 %) 0.31 - 13.29 0.31
Q1 2020 11.64 1.4 % 0.27 - 11.64 0.27

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 42.73 % 34.24 % 28.68 %
Q1 2018 42.25 % 33.42 % 27.47 %
Q2 2018 42.05 % 33.99 % 26.30 %
Q3 2018 42.24 % 35.66 % 26.31 %
Q4 2018 37.43 % 31.21 % 22.22 %
Q1 2019 38.27 % 31.36 % 22.73 %
Q2 2019 39.70 % 31.02 % 23.27 %
Q3 2019 40.30 % 29.79 % 22.93 %
Q4 2019 42.12 % 29.36 % 23.10 %
Q1 2020 41.80 % 29.20 % 23.23 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2011 - - - -
Q2 2011 - - - -
Q3 2011 - - - -
Q4 2011 - - - -
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 30.00 - - 10.20
Q2 2017 30.00 - - -
Q3 2017 30.00 - - 10.58
Q4 2017 30.00 2.26 2.26 11.30
Q1 2018 30.00 2.13 2.13 11.63
Q2 2018 30.00 1.98 1.98 11.22
Q3 2018 30.00 1.97 1.97 11.65
Q4 2018 30.00 1.63 1.63 11.42
Q1 2019 43.00 1.15 1.15 13.51
Q2 2019 43.00 1.16 1.16 13.44
Q3 2019 43.00 1.18 1.12 13.78
Q4 2019 43.00 1.17 1.11 14.08
Q1 2020 43.00 1.18 1.12 14.44

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 19.90 19.90 2.84
Q1 2019 19.92 19.92 1.69
Q2 2019 19.31 19.31 1.67
Q3 2019 22.31 23.47 1.91
Q4 2019 24.40 25.68 2.03
Q1 2020 25.09 26.40 2.04

Business Segments (Million)

Compared With The
Period EL Rayan School EL Rowaby School Al Nozaha school Al Ghad National Schools Breda Schools Qortoba School Al-Khoarizmy Schools
Q1 2017 19.87 19.13 14.95 - - - -
Q4 2017 20.23 19.48 14.97 - - - -
Q1 2018 18.99 17.68 14.15 - - 0.33 -
Q2 2018 17.64 18.36 14.22 - - 0.31 -
Q3 2018 17.24 20.04 14.15 - - 0.43 -
Q4 2018 18.60 17.98 13.67 - - 0.48 -
Q1 2019 18.62 17.86 15.27 - - 0.78 -
Q2 2019 16.37 19.95 14.89 - - 1.01 -
Q3 2019 17.22 18.27 14.95 - - 0.92 -
Q4 2019 17.30 18.47 14.70 - - 0.75 -
Q1 2020 17.68 18.92 13.42 - 0.44 1.64 -


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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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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