Ataa Educational Co. — Earnings Release 2022

Oct 31, 2022

Ataa Educational Co. announces its Annual Financial Results for the Period Ending on 2022-07-31

4292 · 31/10/2022 08:03:38 · Announcement #70706 · View on Saudi Exchange

Ataa Educational Co. announces its Annual Financial Results for the Period Ending on 2022-07-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	577,493	280,347	105.99
Gross Profit (Loss)	131,952	75,894	73.86
Operational Profit (Loss)	103,358	50,297	105.5
Net Profit (Loss) after Zakat and Tax	70,616	35,522	98.8
Total Comprehensive Income	68,383	34,373	98.94
Total Share Holders Equity (after Deducting Minority Equity)	859,646	743,197	15.67
Profit (Loss) per Share	1.76	0.88
All figures are in (Thousands) Saudi Arabia, Riyals

Element List

Explanation

The reason of the increase (decrease) in the net profit during the current year compared to the last year is

1- The reason for the increase in net profit is due to the increase in revenues by 106%, which is resulted of an increase in the number of students from 27 thousand male/female students in 2021 to 42 thousand male/female students in 2022 AD. Also, the new acquisitions made by the company lead the way to such profit increase Despite the increase in operating costs by 123%, the consolidation of the financial statements with the acquired companies keeps rising up.

2- The increase in government grant incom by 740% as a result of the increase in subsidies received from government besides the consolidation of the financial statements with the acquired companies help keeping the situation.

3- The increase of other incom by 97% as a result of the attendance of students on campuses, as well as the consolidation of the financial statements with acquired companies.

4- The increase of administrative and marketing expenses by 164% compared to last year as a result of the consolidation of the financial statements with the acquired companies this year affects.

5- The increase of financing costs by 101% compared to last year due to borrowing related to the Qcquiring of “Alelm International schools", the Arabian Group for Education and Training, as well as the consolidation of the financial statements with them, in addition to the, (SAIBOR) influences.

6- (Non-recurring) gains, resulting from the acquisition of the Arabian Group for Education and Training company at a value of 38 million Saudi riyals, are the difference of value between the net assets of the Arabian Group and consideration paid.

(For more details, please refer to Note No. 27 in the financial statements) Statement of the type of external auditor's report Unmodified opinion Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion There is no notes Reclassification of Comparison Items (For more details, please refer to Note No. 36 in the financial statements) Additional Information During the current year, “Ataa Company" acquired the Arabian Group for Education and Training Company and “Nabaa Educational Company”, and have their financial statements been consolidated with the financial statements of “Ataa Company”.

We would like to draw the attention of our valued shareholders to the consolidated financial statements for the fiscal year ending on July 31, 2022, AD will be available on the company's website at the following link ataa.sa after sending them to concerned authorities.

The company would also like to draw the attention of financial analysts and investors that their inquiries about annual report of business results is through the company's email ir@ataa.sa

This is within 10 days from the date of publishing the financial statements; God bless all.

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