Ataa Educational Co. — Interim / Quarterly Report 2021

Jun 10, 2021

Ataa Educational Co. announces its Interim Financial Results for the Period Ending on 2021-04-30 ( Nine Months )

4292 · 10/06/2021 15:55:08 · Announcement #63731 · View on Saudi Exchange

Ataa Educational Co. announces its Interim Financial Results for the Period Ending on 2021-04-30 ( Nine Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	62,532	84,089	-25.635	63,188	-1.038
Gross Profit (Loss)	15,620	25,148	-37.887	16,664	-6.265
Operational Profit (Loss)	11,586	18,679	-37.973	11,623	-0.318
Net Profit (Loss) after Zakat and Tax	6,343	12,344	-48.614	6,391	-0.751
Total Comprehensive Income	6,598	12,976	-49.152	6,646	-0.722
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	186,946	249,678	-25.125
Gross Profit (Loss)	45,992	75,560	-39.131
Operational Profit (Loss)	33,068	64,120	-48.427
Net Profit (Loss) after Zakat and Tax	17,650	45,879	-61.529
Total Comprehensive Income	18,313	45,257	-59.535
Total Share Holders Equity (after Deducting Minority Equity)	727,362	723,934	0.473
Profit (Loss) per Share	0.44	1.15
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The decrease in net profit for the current quarter compared to the same quarter of the previous year is due to:

1-The decrease in revenue by 26% compared to last year as a result of making additional discounts due to continuing to close schools & continuing on online learning, The increase in these discounts reached 60% compared to the same quarter of last year, as well as due to the decrease in the number of students by 8% compared to the same quarter of the last year

2-The decrease in other revenue by 50%, due to the suspension of student activities, and operation of canteens as a result of school closures, despite the decrease in operating cost by 20% compared to the same quarter of last yearThe reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is The decrease in net profit during the current quarter compared to the previous quarter is due to:

1-The decrease in revenues by 1% As a result of the higher discounts associated with the collection process

2- Operational expenses increased by 0.8% as a result of the increase in the item of travel tickets allowance for departing workers during the current period.The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The decrease in net profit for the current period compared to the same period of the previous year is due to:

1-The decrease in revenue by 25% compared to last year as a result of making additional discounts due to continuing to close schools & still offering online learning, The increase in these discounts reached 60% compared to the same period of last year, as well as due to the decrease in the number of students by 8% compared to the same quarter of last year

2- The decrease in other revenue by 55%, due to the suspension of student activities, and the operating of canteens as a result of school closures, despite of the decrease in operating costs by 19% compared to the same period of last year.Statement of the type of external auditor's report Unmodified conclusionModification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion There is no notesReclassification of Comparison Items The components and notes of the interim condensed consolidated financial statements for the comparative period have been presented and reclassified

1- An increase in the payables by an amount of 3.6 million riyals (Orouba Complex lease contract obligations)

2- An increase in the amount due to related parties by an amount of 8.9 million riyals (obligations of the lease contract of Dr. Ahmed Al-Mutib - a member of the Board of Directors) in return for reducing the liabilities of the lease contracts by 12.4 million riyals and other receivables and credit balances by an amount of 0.1 million riyals

3- An increase in general and administrative expenses by 1.6 million riyals (bank expenses) in return for reducing financing costs by the same amount

For more information, please refer to note No. 7 (right to use assets) and note No. 15 (transactions and balances with related parties), and note No. 16 (financing costs) in the interim condensed consolidated financial statements for the period ending on April 30, 2021.Additional Information We would like to draw the attention of the shareholders that the condensed consolidated interim financial statements for the period ending on April 30, 2021, will be available on Ataa Educational Company website

at the following link

ataa.sa

After sending it to the competent authorities, the company also wishes to draw the attention of the financial analysts and investors to send their inquiries about the results of business to the company's email

ir@ataa.sa

And that is within 10 days from the date of publishing the financial statements.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.