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.
Compared With The
Current Quarter Comparison (M)
| 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 %) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2021 | 61.23 | (24.5 %) | 13.71 | (46.3 %) | 4.92 | (69.7 %) | 0.12 |
| Q2 2021 | 63.19 | (25.2 %) | 16.66 | (33.0 %) | 6.39 | (63.0 %) | 0.16 |
| Q3 2021 | 62.53 | (25.6 %) | 15.62 | (37.9 %) | 6.34 | (48.6 %) | 0.16 |
| Q4 2021 | 93.40 | 7.7 % | 28.14 | (30.9 %) | 17.87 | (40.3 %) | 0.45 |
| 2021 | 280.35 | (16.7 %) | 74.13 | (36.2 %) | 35.52 | (53.1 %) | 0.89 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2021 | 33.00 % | 37.61 % | 20.37 % |
| Q2 2021 | 32.59 % | 37.85 % | 18.15 % |
| Q3 2021 | 31.68 % | 38.97 % | 17.38 % |
| Q4 2021 | 26.44 % | 34.56 % | 12.67 % |
| 2021 | 26.44 % | 34.56 % | 12.67 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2021 | 40.00 | 1.61 | 1.61 | 18.85 |
| Q2 2021 | 40.00 | 1.34 | 1.34 | 18.02 |
| Q3 2021 | 40.00 | 1.19 | 1.19 | 18.18 |
| Q4 2021 | 40.00 | 0.89 | 0.89 | 18.58 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2021 | 28.08 | 28.08 | 2.40 |
| Q2 2021 | 43.60 | 43.60 | 3.24 |
| Q3 2021 | 55.12 | 55.12 | 3.61 |
| Q4 2021 | 68.61 | 68.61 | 3.28 |
Business Segments (Million)
Q4 2021
| Period | Education sector | National Schools | International Schools | Indian Schools | French Schools |
|---|---|---|---|---|---|
| Q1 2021 | 61.23 | - | - | - | - |
| Q2 2021 | 63.19 | - | - | - | - |
| Q3 2021 | 62.53 | - | - | - | - |
| Q4 2021 | 93.40 | - | - | - | - |
| Current | |
| Market Cap (M Riyal) | 2,525.40 |
| Enterprise Value (EV) (M) | 3,123.49 |
| Shares Outstanding ((M)) | 42.09 |
| EPS ( Riyal) (TTM) | 1.68 |
| Book Value (BV) ( Riyal) | 18.65 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 36.79 |
| P/E (TTM) | 35.64 |
| Price/book | 3.22 |
| Return on Average Assets (%) (TTM) | 3.4 |
| Return on Average Equity (%) (TTM) | 8.8 |
Share Price
Ataa Educational Co. (ATAA)
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