Ataa’s net profit rises 3% to SAR 45.9 mln in 9M
14/06/2020
Argaam Exclusive
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Ataa Educational Co. reported a rise of 3% year-on-year (YoY) in net profit after Zakat and tax to SAR 45.9 million for the nine-month period ending April 30, 2020, driven by a 5% YoY increase in revenue, as student number grew by 4% YoY.
Financials (M)
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 237.65 | 249.68 | 5.1 % |
| Gross Income | 64.16 | 75.56 | 17.8 % |
| Operating Income | 46.55 | 52.80 | 13.4 % |
| Net Income | 44.77 | 45.88 | 2.5 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 1.12 | 1.15 | 2.5 % |
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 79.74 | 84.09 | 5.5 % |
| Gross Income | 19.39 | 25.15 | 29.7 % |
| Operating Income | 12.87 | 15.73 | 22.3 % |
| Net Income | 12.01 | 12.34 | 2.8 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.30 | 0.31 | 2.8 % |
The third quarter net profit after Zakat and tax grew by 3% YoY to SAR 12.3 million, thanks to higher revenue and student numbers, despite increased doubtful debt provisions and higher provisions for the COVID-19 pandemic.
On a quarterly basis, Q3 earnings dropped 28.6%, on a 39% slump in other income amid suspension of student activities, and lessons as well as closure of schools.
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 % |
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 |
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 % |
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 |
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 |
Business Segments (Million)
Q3 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 |
| 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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