Ataa Educational net profit down 8% to SAR 75.8 mln in FY 2019/2020
26/10/2020
Argaam Exclusive
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Ataa Educational Co. reported a net profit after Zakat and tax of SAR 75.8 for the fiscal year ended July 31, 2020, an 8.4% year-on-year (YoY) decline.
Financials (M)
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 320.59 | 336.38 | 4.9 % |
| Gross Income | 107.85 | 116.26 | 7.8 % |
| Operating Income | 85.42 | 85.75 | 0.4 % |
| Net Income | 82.75 | 75.80 | (8.4 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 2.07 | 1.89 | (8.4 %) |
The decline in net profit was attributed to the increase in allowance for doubtful debts as the company booked additional provisions to meet expected economic impacts of the global outbreak. The company also cited the increase in financing charges as a result of implementing IFRS (16) related to rent contracts starting from August 1, 2019.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 82.94 | 86.70 | 4.5 % |
| Gross Income | 43.69 | 40.70 | (6.9 %) |
| Operating Income | 38.87 | 32.95 | (15.2 %) |
| Net Income | 37.97 | 29.92 | (21.2 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.95 | 0.75 | (21.2 %) |
The company reported a net profit of SAR 29.92 in Q4 ended July 31, 2020, a 21.2% YoY decrease.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2020 | 81.11 | 4.6 % | 25.53 | 11.5 % | 18.50 | 6.5 % |
| Q2 2020 | 84.48 | 5.1 % | 24.89 | 11.1 % | 18.57 | 10.3 % |
| Q3 2020 | 84.09 | 5.5 % | 25.15 | 29.7 % | 15.73 | 22.3 % |
| Q4 2020 | 86.70 | 4.5 % | 40.70 | (6.9 %) | 32.95 | (15.2 %) |
| 2020 | 336.38 | 4.9 % | 116.26 | 7.8 % | 85.75 | 0.4 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2020 | 16.25 | (5.1 %) | 0.41 | - | 16.25 | 0.41 |
| Q2 2020 | 17.28 | 7.0 % | 0.43 | - | 17.28 | 0.43 |
| Q3 2020 | 12.34 | 2.8 % | 0.31 | - | 12.34 | 0.31 |
| Q4 2020 | 29.92 | (21.2 %) | 0.75 | - | 29.92 | 0.75 |
| 2020 | 75.80 | (8.4 %) | 1.89 | - | 75.80 | 1.89 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2020 | 34.24 % | 33.56 % | 25.42 % |
| Q2 2020 | 34.57 % | 35.64 % | 25.44 % |
| Q3 2020 | 35.85 % | 38.12 % | 25.21 % |
| Q4 2020 | 34.56 % | 38.17 % | 22.53 % |
| 2020 | 34.56 % | 38.17 % | 22.53 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2020 | 40.00 | 2.06 | 2.06 | 18.36 |
| Q2 2020 | 40.00 | 2.09 | 2.09 | 17.77 |
| Q3 2020 | 40.00 | 2.10 | 2.10 | 18.10 |
| Q4 2020 | 40.00 | 1.89 | 1.89 | 18.73 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2020 | 16.86 | 16.86 | 1.89 |
| Q2 2020 | 19.15 | 19.15 | 2.25 |
| Q3 2020 | 20.25 | 20.25 | 2.35 |
| Q4 2020 | 21.93 | 21.93 | 2.22 |
Business Segments (Million)
Q4 2020
| Period | National Schools | International Schools | Indian Schools | French Schools |
|---|---|---|---|---|
| Q1 2020 | 49.89 | 21.53 | 7.38 | 2.31 |
| Q2 2020 | 49.62 | 21.55 | 11.01 | 2.31 |
| Q3 2020 | 49.60 | 21.32 | 10.90 | 2.28 |
| Q4 2020 | 48.45 | 20.81 | 15.24 | 2.20 |
| Current | |
| Market Cap (M Riyal) | 3,165.17 |
| Enterprise Value (EV) (M) | 3,763.78 |
| Shares Outstanding ((M)) | 42.09 |
| EPS ( Riyal) (TTM) | 1.51 |
| Book Value (BV) ( Riyal) | 19.04 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 49.95 |
| P/E (TTM) | 49.95 |
| Price/book | 3.95 |
| Return on Average Assets (%) (TTM) | 3.0 |
| Return on Average Equity (%) (TTM) | 8.0 |
Share Price
Ataa Educational Co. (ATAA)
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