Ataa Educational Co. — Interim / Quarterly Report 2021

Mar 7, 2021

Ataa Educational Co. announces its Interim Financial Results for the Period Ending on 2021-01-31 ( Six Months )

4292 · 07/03/2021 15:47:18 · Announcement #62149 · View on Saudi Exchange

Ataa Educational Co. announces its Interim Financial Results for the Period Ending on 2021-01-31 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	63,188	84,479	-25.202	61,226	3.204
Gross Profit (Loss)	16,664	24,886	-33.038	13,708	21.564
Operational Profit (Loss)	11,623	23,363	-50.25	9,859	17.892
Net Profit (Loss) after Zakat and Tax	6,391	17,283	-63.021	4,917	29.977
Total Comprehensive Income	6,646	16,634	-60.045	5,069	31.11
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	124,414	165,590	-24.866
Gross Profit (Loss)	30,372	50,412	-39.752
Operational Profit (Loss)	21,482	45,441	-52.725
Net Profit (Loss) after Zakat and Tax	11,307	33,536	-66.283
Total Comprehensive Income	11,715	32,281	-63.709
Total Share Holders Equity (after Deducting Minority Equity)	720,764	710,958	1.379
Profit (Loss) per Share	0.28	0.84
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 current quarter compared to the same quarter of the previous year is due to:

1- The decreas in revenues by 25% compared to last year as a result of giving additional discounts due to continuing to close schools & teach students online, The increase in these discounts reached 83% compared to the same quarter of last year, as well as due to the decrease in the number of students by 10% compared to the same quarter of last year

2- The decrease in other revenues by 66%, due to the suspension of student activities, additional teaching programs and operatiion of canteens as a result of school closures, despite the decrease in operating costs by 22% compared to the same quarter of last year.The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is The increase in net profit during the current quarter compared to the previous quarter is due to:

1- The increase in revenues by 3% due to an increase in the number of students by 0.5%

2- Reducing operating expenses by 2% due to the decrease in maintenance expenses, educational publications and stationery related to the beginning of the school year.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 current period compared to the same period of the previous year is due to:

1-The decreas in revenues by 25% compared to last year as a result of giving additional discounts due to continuing to close schools & teach students online, The increase in these discounts reached 83% compared to the same period of last year, as well as due to the decrease in the number of students by 10% compared to the same quarter of last year

2- The decrease in other revenues by 57%, due to the suspension of student activities, additional teaching programs and operation of canteens as a result of school closures, despite the decrease in operating costs by 18% 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-Mutaib - 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 1.3 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 January 31, 2021.Additional Information We would like to draw the attention of the shareholders that the condensed consolidated interim financial statements for the current half ending on January 31, 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 the midterm 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.