Horizon Educational’s profit rises 25% to SAR 8.9M in FY 2022/23

Horizon Educational’s profit rises 25% to SAR 8.9M in FY 2022/23

22/04/2024 Argaam Exclusive

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Horizon Educational Co.’s earnings increased by 25% to SAR 8.9 million for the fiscal year (FY) ended June 30, 2023, compared to SAR 7.1 million in the year-earlier period.



Financials (M)

Item 2022 2023 Change‬
Revenues 32.32 36.76 13.7 %
Gross Income 11.54 13.97 21.0 %
Operating Income 7.23 8.92 23.4 %
Net Income 7.14 8.94 25.1 %
Average Shares 2.00 2.00 -
EPS (Riyals) 3.57 4.47 25.1 %


The earnings increase was spurred by 14% growth year-on-year (YoY) in revenue to SAR 36.8 million, from SAR 32.3 million a year ago, due to higher tuition fees. In addition, the annual operating profit margins rose from 22% to 23%, despite higher general and administrative expenses (G&As).

 

The company also cited lower Zakat expenses and an increase in other revenues.

 

Shareholders’ equity, no minority interest, stood at SAR 43.5 million by June 30, 2022/2023, compared to SAR 43.6 million a year earlier.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 - - - - - -
H2 2021 - - - - - -
H1 2022 - - - - - -
H2 2022 - - - - - -
H1 2023 - - - - - -
H2 2023 - - - - - -
2023 36.76 13.7 % 13.97 21.0 % 8.92 23.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 - - - - - -
H2 2021 - - - - - -
H1 2022 - - - - - -
H2 2022 - - - - - -
H1 2023 - - - - - -
H2 2023 - - - - - -
2023 8.94 25.1 % 4.47 - 8.94 4.47

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 - - -
H1 2023 - - -
H2 2023 - - -
2023 38.00 % 30.53 % 24.31 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 - - - -
H2 2021 - - - -
H1 2022 - - - -
H2 2022 - - - -
H1 2023 - - - -
H2 2023 - - - -

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 - - -
H1 2023 - - -
H2 2023 - - -

Business Segments (Million)

Compared With The
Period Education Operations and maintenance


Financial Ratios
Current
Market Cap (M Riyal) 187.50
Enterprise Value (EV) (M) 184.49
Shares Outstanding ((M)) 2.50
Book Value (BV) ( Riyal) 21.76
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 20.98
Price/book 4.31
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Share Price

Horizon Educational Co.
75.00
(3.90) (4.94 %)

Horizon Educational Co. (HORIZON EDUCATIONAL)

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