Ataa Educational net profit drops 62% to SAR 17.7 mln in 9M 2020/21

Ataa Educational net profit drops 62% to SAR 17.7 mln in 9M 2020/21

10/06/2021 Argaam Exclusive

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Ataa Educational Co. reported a net profit after Zakat and tax of SAR 17.7 million for the first nine months of 2020/21 ending on April 30, 2021, down 62%, compared to a net profit of SAR 45.9 million a year earlier.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 249.68 186.95 (25.1 %)
Gross Income 75.56 45.99 (39.1 %)
Operating Income 52.80 27.97 (47.0 %)
Net Income 45.88 17.65 (61.5 %)
Average Shares 40.00 40.00 -
EPS (Riyals) 1.15 0.44 (61.5 %)

The decrease in profit was attributed to a 26% drop in revenue year-on-year (YoY) on higher discounts, up 60% YoY, due to school closures and online learning and 8% lower students count compared to same period last year.

 

In addition, other revenue decreased by 50% due to the suspension of student activities and operation of canteens, as a result of school closures, despite operating cost falling by 20% YoY.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 84.09 62.53 (25.6 %)
Gross Income 25.15 15.62 (37.9 %)
Operating Income 15.73 10.10 (35.8 %)
Net Income 12.34 6.34 (48.6 %)
Average Shares 40.00 40.00 -
EPS (Riyals) 0.31 0.16 (48.6 %)

The company’s net profit after Zakat and tax fell 49% to SAR 6.3 million YoY in Q3 2020/21, on the back of lower revenue and higher operating expenses.

 

On a sequential basis, net profit was down marginally.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 81.26 - 16.60 - 8.58 -
Q4 2018 84.56 - 42.06 - 37.95 -
Q1 2019 77.52 - 22.90 - 17.38 -
Q2 2019 80.39 - 22.39 - 16.83 -
Q3 2019 79.74 (1.9 %) 19.39 16.8 % 12.87 50.0 %
Q4 2019 82.94 (1.9 %) 43.69 3.9 % 38.87 2.4 %
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 %)
Q1 2021 61.23 (24.5 %) 13.71 (46.3 %) 7.86 (57.5 %)
Q2 2021 63.19 (25.2 %) 16.66 (33.0 %) 10.01 (46.1 %)
Q3 2021 62.53 (25.6 %) 15.62 (37.9 %) 10.10 (35.8 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 9.05 - 0.23 - 9.05 0.23
Q4 2018 37.90 - 0.95 - 37.90 0.95
Q1 2019 17.12 - 0.43 - 17.12 0.43
Q2 2019 16.16 - 0.40 - 16.16 0.40
Q3 2019 12.01 32.7 % 0.30 - 12.01 0.30
Q4 2019 37.97 0.2 % 0.95 - 37.97 0.95
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
Q1 2021 4.92 (69.7 %) 0.12 - 4.92 0.12
Q2 2021 6.39 (63.0 %) 0.16 - 6.39 0.16
Q3 2021 6.34 (48.6 %) 0.16 - 6.34 0.16

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 32.11 % 29.72 % 24.78 %
Q3 2019 33.13 % 31.27 % 25.82 %
Q4 2019 33.80 % 31.77 % 25.97 %
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 %
Q1 2021 33.00 % 37.61 % 20.37 %
Q2 2021 32.59 % 37.85 % 18.15 %
Q3 2021 31.68 % 38.97 % 17.38 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 40.00 - - -
Q4 2018 40.00 - - 18.13
Q1 2019 40.00 - - 18.07
Q2 2019 40.00 2.01 2.01 17.45
Q3 2019 40.00 2.08 2.08 17.74
Q4 2019 40.00 2.08 2.08 18.66
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
Q1 2021 40.00 1.61 1.61 18.85
Q2 2021 40.00 1.34 1.34 18.02
Q3 2021 40.00 1.19 1.19 18.18

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 16.14 16.14 1.89
Q4 2019 14.94 14.94 1.67
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
Q1 2021 28.08 28.08 2.40
Q2 2021 43.60 43.60 3.24
Q3 2021 55.12 55.12 3.61

Business Segments (Million)

Compared With The
Period Education sector National Schools International Schools Indian Schools French Schools
Q1 2019 - 48.31 19.46 7.47 2.28
Q2 2019 - 47.86 19.41 10.86 2.25
Q3 2019 - 47.65 19.16 10.70 2.23
Q4 2019 - 50.80 15.60 14.33 2.21
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
Q1 2021 61.23 - - - -
Q2 2021 63.19 - - - -
Q3 2021 62.53 - - - -


Financial Ratios
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
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Share Price

Ataa Educational Co.
75.20
(0.10) (0.13 %)

Ataa Educational Co. (ATAA)

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