National Learning net profit triples to SAR 54.9 mln in 9M 2021/22; Q3 at SAR 18.6 mln

National Learning net profit triples to SAR 54.9 mln in 9M 2021/22; Q3 at SAR 18.6 mln

30/06/2022 Argaam Exclusive

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National Co. for Learning and Education reported a net profit after Zakat and tax of SAR 54.9 million for the nine months ended May 31, 2022, a 214% increase from SAR 17.5 million in the same period a year earlier.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 139.90 233.72 67.1 %
Gross Income 48.94 92.17 88.3 %
Operating Income 23.02 60.71 163.7 %
Net Income 17.50 54.87 213.6 %
Average Shares 43.00 43.00 -
EPS (Riyals) 0.41 1.28 213.6 %

The increase in net profit is mainly due to the higher number of students enrolled in the company’s schools and the rise in tuition fees compared to the year-ago period, which included exceptional discounts to combat the COVID-19 repercussions.



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 48.85 82.05 68.0 %
Gross Income 18.52 31.99 72.8 %
Operating Income 10.97 20.60 87.8 %
Net Income 9.15 18.56 102.9 %
Average Shares 43.00 43.00 -
EPS (Riyals) 0.21 0.43 102.9 %

National Learning posted a net profit of SAR 18.56 million for Q3 2021/2022, an increase of 102% from SAR 9.1 million in the same period last year.

 

Sequentially, net profit rose slightly compared to SAR 18.2 million in Q2 2021/2022.

Total shareholders’ equity, excluding minority interest, stood at SAR 635.67 million as of May 31, 2022, rising from SAR 607.83 million a year earlier.

 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 59.74 - 23.32 - 16.56 -
Q2 2017 60.43 - 22.14 - 17.17 -
Q3 2017 58.07 - 22.32 - 14.73 -
Q4 2017 58.48 - 33.38 - 26.07 -
Q1 2018 55.47 (7.2 %) 20.36 (12.7 %) 12.91 (22.0 %)
Q2 2018 54.00 (10.6 %) 18.98 (14.3 %) 12.85 (25.2 %)
Q3 2018 56.41 (2.9 %) 22.05 (1.2 %) 14.46 (1.8 %)
Q4 2018 54.08 (7.5 %) 20.95 (37.2 %) 14.49 (44.4 %)
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 %)
Q1 2020 52.10 (0.8 %) 20.23 (4.0 %) 12.34 (4.0 %)
Q2 2020 56.49 8.2 % 24.22 13.3 % 14.18 17.5 %
Q3 2020 57.21 11.4 % 24.44 14.6 % 14.23 31.1 %
Q4 2020 59.49 16.1 % 36.35 54.3 % 24.40 82.7 %
Q1 2021 44.45 (14.7 %) 13.91 (31.2 %) 5.29 (57.1 %)
Q2 2021 46.60 (17.5 %) 16.51 (31.8 %) 6.76 (52.3 %)
Q3 2021 48.85 (14.6 %) 18.52 (24.2 %) 10.97 (22.9 %)
Q4 2021 47.30 (20.5 %) 21.47 (40.9 %) 10.02 (58.9 %)
Q1 2022 74.38 67.3 % 30.38 118.4 % 20.41 285.9 %
Q2 2022 77.29 65.9 % 29.80 80.5 % 19.70 191.3 %
Q3 2022 82.05 68.0 % 31.99 72.8 % 20.60 87.8 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 15.06 - 0.50 - 15.06 0.50
Q2 2017 15.82 - 0.53 - 15.82 0.53
Q3 2017 13.27 - 0.44 - 13.27 0.44
Q4 2017 23.74 - 0.79 - 23.74 0.79
Q1 2018 11.01 (26.9 %) 0.37 - 11.01 0.37
Q2 2018 11.42 (27.9 %) 0.38 - 11.42 0.38
Q3 2018 12.86 (3.1 %) 0.43 - 12.86 0.43
Q4 2018 13.59 (42.7 %) 0.45 - 13.59 0.45
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
Q1 2020 11.64 1.4 % 0.27 - 11.64 0.27
Q2 2020 13.44 10.5 % 0.31 - 13.44 0.31
Q3 2020 12.13 (9.9 %) 0.28 - 12.13 0.28
Q4 2020 20.59 54.9 % 0.48 - 20.59 0.48
Q1 2021 3.79 (67.5 %) 0.09 - 3.79 0.09
Q2 2021 4.56 (66.0 %) 0.11 - 4.56 0.11
Q3 2021 9.15 (24.6 %) 0.21 - 9.15 0.21
Q4 2021 6.96 (66.2 %) 0.16 - 6.96 0.16
Q1 2022 18.10 377.9 % 0.42 - 18.10 0.42
Q2 2022 18.21 298.9 % 0.42 - 18.21 0.42
Q3 2022 18.56 102.9 % 0.43 - 18.56 0.43

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 42.73 % 34.24 % 28.68 %
Q1 2018 42.25 % 33.42 % 27.47 %
Q2 2018 42.05 % 33.99 % 26.30 %
Q3 2018 42.24 % 35.66 % 26.31 %
Q4 2018 37.43 % 31.21 % 22.22 %
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 %
Q1 2020 41.80 % 29.20 % 23.23 %
Q2 2020 42.30 % 29.27 % 23.36 %
Q3 2020 42.60 % 29.89 % 23.27 %
Q4 2020 46.71 % 32.78 % 25.66 %
Q1 2021 45.45 % 31.09 % 22.95 %
Q2 2021 43.91 % 29.84 % 19.77 %
Q3 2021 42.78 % 30.15 % 19.10 %
Q4 2021 37.61 % 26.13 % 13.07 %
Q1 2022 40.01 % 30.58 % 17.86 %
Q2 2022 40.42 % 33.10 % 21.15 %
Q3 2022 40.44 % 33.63 % 22.00 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 30.00 - - 10.20
Q2 2017 30.00 - - -
Q3 2017 30.00 - - 10.58
Q4 2017 30.00 2.26 2.26 11.30
Q1 2018 30.00 2.13 2.13 11.63
Q2 2018 30.00 1.98 1.98 11.22
Q3 2018 30.00 1.97 1.97 11.65
Q4 2018 30.00 1.63 1.63 11.42
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
Q1 2020 43.00 1.18 1.12 14.44
Q2 2020 43.00 1.21 1.15 13.83
Q3 2020 43.00 1.17 1.17 14.13
Q4 2020 43.00 1.34 1.34 14.53
Q1 2021 43.00 1.16 1.16 14.59
Q2 2021 43.00 0.96 0.96 13.89
Q3 2021 43.00 0.89 0.89 14.14
Q4 2021 43.00 0.57 0.57 14.30
Q1 2022 43.00 0.90 0.90 14.68
Q2 2022 43.00 1.22 1.22 14.30
Q3 2022 43.00 1.44 1.44 14.78

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 19.90 19.90 2.84
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
Q1 2020 25.09 26.40 2.04
Q2 2020 37.33 39.22 3.25
Q3 2020 41.34 41.34 3.44
Q4 2020 38.83 38.83 3.59
Q1 2021 40.85 40.85 3.25
Q2 2021 64.18 64.18 4.41
Q3 2021 71.80 71.80 4.50
Q4 2021 More than 100 More than 100 4.20
Q1 2022 56.12 56.12 3.45
Q2 2022 48.98 48.98 4.17
Q3 2022 43.12 43.12 4.19

Business Segments (Million)

Compared With The
Period EL Rayan School EL Rowaby School Al Qairwan schools Al Nozaha school Al Aridh Schools Al Ghad National Schools Breda Schools Qortoba School Al-Khoarizmy Schools Other activities Consolidation adjustments & eliminations
Q1 2017 19.87 19.13 - 14.95 - - - - - - -
Q4 2017 20.23 19.48 - 14.97 - - - - - - -
Q1 2018 18.99 17.68 - 14.15 - - - 0.33 - - -
Q2 2018 17.64 18.36 - 14.22 - - - 0.31 - - -
Q3 2018 17.24 20.04 - 14.15 - - - 0.43 - - -
Q4 2018 18.60 17.98 - 13.67 - - - 0.48 - - -
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 - - -
Q1 2020 17.68 18.92 - 13.42 - - 0.44 1.64 - - -
Q2 2020 15.42 19.03 - 15.89 - - 0.49 1.67 3.98 - -
Q3 2020 16.15 18.49 - 14.35 - 2.18 0.48 1.62 3.93 - -
Q4 2020 15.40 17.81 - 13.86 - 6.23 0.63 1.64 3.92 - -
Q1 2021 10.16 12.22 2.37 9.42 - 5.39 1.00 1.01 2.90 - -
Q2 2021 10.49 12.74 2.47 9.61 - 5.29 1.24 1.13 2.85 0.78 -
Q3 2021 11.05 13.52 3.06 10.15 - 5.89 1.18 1.16 2.83 1.32 (1.33)
Q4 2021 11.21 13.43 3.02 9.79 - 5.84 0.94 1.06 2.77 1.70 (2.47)
Q1 2022 14.08 16.18 9.76 12.80 4.44 7.75 2.81 2.32 4.26 1.80 (1.80)
Q2 2022 14.42 16.26 10.28 13.17 5.25 7.89 2.95 2.62 4.44 1.85 (1.85)
Q3 2022 15.22 16.88 11.33 13.56 5.96 8.27 3.32 3.09 4.41 1.84 (1.84)


Financial Ratios
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
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Share Price

National Company for Learning and Education
218.80
(1.20) (0.55 %)

National Company for Learning and Education (NCLE)

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