Academy of Learning profit leaps 34% to SAR 28.7M in 2023
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Academy of Learning Co. (AOL) reported a net profit of SAR 28.7 million for 2023, a 34% increase from SAR 21.4 million a year earlier.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 62.91 | 92.91 | 47.7 % |
| Gross Income | 39.65 | 57.56 | 45.2 % |
| Operating Income | 22.96 | 28.58 | 24.5 % |
| Net Income | 21.36 | 28.67 | 34.2 % |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.24 | 0.32 | 34.2 % |
The profit growth was driven by higher revenues as the company adopted an expansion policy through the opening of new branches. The firm continuously added new diplomas and training programs that align with the needs of the job market. In addition, it adopted diversification and innovation in marketing strategies.
Shareholders’ equity, no minority interest, stood at SAR 113.07 million as of Dec. 31, 2023, increasing from SAR 105.56 million a year before.
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 36.71 | 54.08 | 47.3 % |
| Gross Income | 22.95 | 32.12 | 40.0 % |
| Operating Income | 13.75 | 14.58 | 6.0 % |
| Net Income | 13.20 | 14.47 | 9.6 % |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.15 | 0.16 | 9.6 % |
|
Historical Change of Financial Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
Earnings Per Share (SAR/Share) |
|
H1 2021 |
18.00 |
7.40 |
0.12 |
|
H2 2021 |
24.28 |
8.8 |
0.15 |
|
H1 2022 |
26.21 |
8.16 |
0.14 |
|
H2 2022 |
36.70 |
13.20 |
0.22 |
|
H1 2023 |
38.82 |
14.20 |
0.24 |
|
H2 2023 |
54.09 |
14.47 |
0.24 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 38.82 | 48.1 % | 25.44 | 52.4 % | 14.00 | 52.1 % |
| H2 2023 | 54.08 | 47.3 % | 32.12 | 40.0 % | 14.58 | 6.0 % |
| 2023 | 92.91 | 47.7 % | 57.56 | 45.2 % | 28.58 | 24.5 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 14.20 | 74.1 % | 0.16 | - | 14.20 | 0.16 |
| H2 2023 | 14.47 | 9.6 % | 0.16 | - | 14.47 | 0.16 |
| 2023 | 28.67 | 34.2 % | 0.32 | - | 28.67 | 0.32 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 64.07 % | 43.42 % | 36.29 % |
| H2 2023 | 61.96 % | 38.83 % | 30.86 % |
| 2023 | 61.96 % | 38.83 % | 30.86 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 90.00 | 0.30 | 0.30 | 1.20 |
| H2 2023 | 90.00 | 0.32 | 0.32 | 1.26 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | 14.71 | 14.71 | 3.74 |
| H2 2023 | 19.87 | 19.87 | 5.04 |
| Current | |
| Market Cap (M Riyal) | 882.90 |
| Enterprise Value (EV) (M) | 856.07 |
| Shares Outstanding ((M)) | 90.00 |
| Book Value (BV) ( Riyal) | 1.26 |
| Par Value ( Riyal) | 1.00 |
| Adjusted P/E (Last12) | 30.79 |
| Price/book | 7.81 |
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