National Education’s profit rises 3% in FY19
06/11/2019
Argaam Exclusive
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National Company for Learning and Education (NCLE) posted a 3 percent year-on-year (YoY) rise in net profit after zakat and tax to SAR 50.4 million for the fiscal year ending Aug. 31, 2019.
The profit growth was attributed to improved profit margins and other income, along with a decline in the cost of sales, and financing charges.
Financials (M)
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 219.96 | 207.34 | (5.7 %) |
| Gross Income | 82.34 | 87.33 | 6.1 % |
| Operating Income | 54.71 | 49.14 | (10.2 %) |
| Net Income | 48.87 | 50.39 | 3.1 % |
| Average Shares | 30.00 | 43.00 | 43.3 % |
| EPS (Riyals) | 1.63 | 1.17 | (28.1 %) |
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 54.08 | 51.22 | (5.3 %) |
| Gross Income | 20.95 | 23.56 | 12.5 % |
| Operating Income | 14.49 | 13.35 | (7.8 %) |
| Net Income | 13.59 | 13.29 | (2.2 %) |
| Average Shares | 30.00 | 43.00 | 43.3 % |
| EPS (Riyals) | 0.45 | 0.31 | (31.8 %) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2019 | 52.53 | (5.3 %) | 21.08 | 3.5 % | 12.86 | (0.4 %) |
| Q2 2019 | 52.22 | (3.3 %) | 21.37 | 12.6 % | 12.07 | (6.1 %) |
| Q3 2019 | 51.36 | (8.9 %) | 21.32 | (3.3 %) | 10.86 | (24.9 %) |
| Q4 2019 | 51.22 | (5.3 %) | 23.56 | 12.5 % | 13.35 | (7.8 %) |
| 2019 | 207.34 | (5.7 %) | 87.33 | 6.1 % | 49.14 | (10.2 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2019 | 11.48 | 4.2 % | 0.27 | - | 11.48 | 0.27 |
| Q2 2019 | 12.17 | 6.6 % | 0.28 | - | 12.17 | 0.28 |
| Q3 2019 | 13.46 | 4.7 % | 0.31 | 2.50 | 10.96 | 0.25 |
| Q4 2019 | 13.29 | (2.2 %) | 0.31 | - | 13.29 | 0.31 |
| 2019 | 50.39 | 3.1 % | 1.17 | 2.50 | 47.89 | 1.11 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2019 | 38.27 % | 31.36 % | 22.73 % |
| Q2 2019 | 39.70 % | 31.02 % | 23.27 % |
| Q3 2019 | 40.30 % | 29.79 % | 22.93 % |
| Q4 2019 | 42.12 % | 29.36 % | 23.10 % |
| 2019 | 42.12 % | 29.36 % | 23.10 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2019 | 43.00 | 1.15 | 1.15 | 13.51 |
| Q2 2019 | 43.00 | 1.16 | 1.16 | 13.44 |
| Q3 2019 | 43.00 | 1.18 | 1.12 | 13.78 |
| Q4 2019 | 43.00 | 1.17 | 1.11 | 14.08 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2019 | 19.92 | 19.92 | 1.69 |
| Q2 2019 | 19.31 | 19.31 | 1.67 |
| Q3 2019 | 22.31 | 23.47 | 1.91 |
| Q4 2019 | 24.40 | 25.68 | 2.03 |
Business Segments (Million)
Q4 2019
| Period | EL Rayan School | EL Rowaby School | Al Nozaha school | Qortoba School |
|---|---|---|---|---|
| Q1 2019 | 18.62 | 17.86 | 15.27 | 0.78 |
| Q2 2019 | 16.37 | 19.95 | 14.89 | 1.01 |
| Q3 2019 | 17.22 | 18.27 | 14.95 | 0.92 |
| Q4 2019 | 17.30 | 18.47 | 14.70 | 0.75 |
| Current | |
| Market Cap (M Riyal) | 9,399.80 |
| Enterprise Value (EV) (M) | 9,300.84 |
| Shares Outstanding ((M)) | 43.00 |
| EPS ( Riyal) (TTM) | 3.83 |
| Book Value (BV) ( Riyal) | 19.35 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | More than 100 |
| P/E (TTM) | More than 100 |
| Price/book | 11.30 |
| Return on Average Assets (%) (TTM) | 11.8 |
| Return on Average Equity (%) (TTM) | 21.0 |
Share Price
National Company for Learning and Education (NCLE)
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