Future Vision’s profits down 12% to SAR 689,000 in H1 2024

Future Vision’s profits down 12% to SAR 689,000 in H1 2024

06/03/2025 Argaam Exclusive

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Future Vision for Health Training Co., which is under listing for an IPO on Nomu, reported a profit decline of 12% to SAR 689,000 in the first half of 2024, compared to SAR 786,000 in H1 2023.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 7.48 7.15 (4.5 %)
Gross Income 3.91 3.58 (8.4 %)
Operating Income 0.98 0.82 (15.8 %)
Net Income 0.79 0.69 (12.3 %)
Average Shares 8.00 8.00 -
Earnings Per Share before unusual items 0.10 0.09 (12.3 %)
EPS (Riyals) 0.10 0.09 (12.3 %)

The company attributed the profit decline to a decrease in revenue for the current period, which fell to SAR 7.15 million from SAR 7.48 million a year ago.

 

Additionally, the gross profit margin declined to 50%, down from 52% in H1 2023, due to an increase in the cost-to-revenue ratio to 50%.

 

The operating profit margin also dropped to 11.5% in H1 2024, compared to 13% in H1 2023, despite a reduction in general and administrative expenses.

 

Meanwhile, EBITDA increased to SAR 1.3 million in the current period, up from SAR 1.2 million in the year-ago period.

 

Total shareholders’ equity (after minority interest) grew to SAR 10.33 million by the end H1 2024, versus SAR 6.56 million in the same period of last year.



Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
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 0.79 - 0.10 - 0.79 0.10
H2 2023 3.08 - 0.39 - 3.08 0.39
H1 2024 0.69 (12.3 %) 0.09 - 0.69 0.09


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 7.48 - 3.91 - 0.98 -
H2 2023 9.29 - 4.43 - 3.19 -
H1 2024 7.15 (4.5 %) 3.58 (8.4 %) 0.82 (15.8 %)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 49.72 % 28.27 % 23.06 %
H1 2024 49.84 % 25.31 % 19.05 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
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 8.00 - - 0.82
H2 2023 8.00 0.48 0.48 1.20
H1 2024 8.00 0.57 0.57 1.29

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
H1 2024 - - -

Business Segments (Million)

Compared With The
Period Career Development Education Training
Q2 2024 5.65 1.15 0.35


Share Price

Future Vision for Health Training Co.

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