Ataa Educational Co. — Interim / Quarterly Report 2024

Feb 28, 2024

Ataa Educational Co. announces its Interim Financial results for the Period Ending on 2024-01-31 ( Six Months )

4292 · 28/02/2024 15:54:02 · Announcement #78447 · View on Saudi Exchange

Ataa Educational Co. announces its Interim Financial results for the Period Ending on 2024-01-31 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	166,520	166,830	-0.185	170,498	-2.333
Gross Profit (Loss)	39,489	36,487	8.227	55,399	-28.718
Operational Profit (Loss)	25,206	18,783	34.195	32,975	-23.56
Net profit (Loss)	11,458	9,552	19.953	22,051	-48.038
Total Comprehensive Income	11,458	9,552	19.953	22,051	-48.038
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	337,018	334,618	0.717
Gross Profit (Loss)	94,888	86,453	9.756
Operational Profit (Loss)	58,181	48,369	20.285
Net profit (Loss)	33,509	30,612	9.463
Total Comprehensive Income	33,509	30,612	9.463
Total Share Holders Equity (After Deducting the Minority Equity)	773,982	810,050	-4.452
Profit (Loss) per Share	0.8	0.73
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Percentage of the capital (%)	Amount
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	The revenue decrease in the current quarter compared to the same quarter a year ago is the result of:

The Recruitment and Training sectors have low incomes.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 reason for the increase in net profit during the current quarter compared to the same quarter last year is due to:

Acquisition of minority interest in the Companies (Al-Yasmine - Al-Alsun –Jeel AlMajd) and A decrease in operational costs by 2.5% compared to the same quarter of last year.

This is despite :

An increase in financing costs by 27% compared to the same quarter of the previous year due to borrowing related to the Acquiring of minority interest in the Companies (Al-Yasmine, Al-Alson, Jel AlMajd), and the purchase of Irqa land in addition to the increase in SIBOR Rate.The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The revenue decrease in the current quarter compared to the previous quarter is the result of:

Additional discounts on tuition fees.The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The reason for the decrease in net profit during the current quarter compared to the previous quarter is due to:

An increase in operating costs by 11% as a result of an increase in the salaries and wages by 10% compared to the previous quarter, which includes a lower salaries and wages in August due to the dates of teachers’ return from vacation in August.The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The reason for the increase in revenues during the current period compared to the same period last year is due to:

an increase in tuition fees in some educational complexesThe reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reason for the increase in net profit during the current period compared to the same period last year is due to:

1-An increase in revenues by 1% and a decrease in operational costs by 3%

2- The Acquisition of minority interest in the Companies (Al-Yasmine - Al-Alsun –Jeel AlMajd).

This is despite:

An increase in financing costs by 35% due to borrowing related to the Acquiring of minority interest in the Companies (Al-Yasmine, Al-Alson, Jel AlMajd), and the purchase of Irqa land in addition to the rise in SIBOR Rate.Statement of the type of external auditor's report Unmodified conclusionComment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) There is no notesReclassification of Comparison Items Some opening balances have been adjusted as shown in the financial statements.

For more details, please refer to disclosure No. (14) in the financial statements.Additional Information We would like to bring our appreciated shareholders' attention to the fact that the interim condensed consolidated financial statements for the current half ending January 31, 2024, will be accessible on the company's website ataa.sa after sending to the competent authorities

The company would also like to draw the attention of financial analysts and investors to send their inquiries about the Financials results to the company’s email.

ir@ataa.sa. within 10 days of the financial statements being published; God bless all.

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.