Academy of Learning H1 2024 net profit drops 46% to SAR 7.7M

14/08/2024 Argaam Exclusive

Academy of Learning (AOL) reported a net profit of SAR 7.7 million by the end of H1 2024, a decrease of 46% year-on-year (YoY) from SAR 14.2 million. 



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 38.82 51.46 32.5 %
Gross Income 25.44 23.16 (9.0 %)
Operating Income 14.00 7.99 (42.9 %)
Net Income 14.20 7.69 (45.9 %)
Average Shares 90.00 90.00 -
EPS (Riyals) 0.16 0.09 (45.9 %)

AOL recorded SAR 12.9 million operational losses in Riyadh as the branch is in the initial operating stage. It is expected to enter the actual operating stage in H2 2024.

 

Excluding this non-recurring item, the net income for the period is SAR 21 million, with a growth rate of 45% compared to H1 2023.

 

In addition, marketing and selling expenses increased to SAR 7.4 million in H1 2024, compared to SAR 4.1 million in the year-earlier period. Profitability was also affected by the high expenses of branches under construction (two branches).



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 38.82 51.46 32.5 %
Gross Income 25.44 23.16 (9.0 %)
Operating Income 14.00 7.99 (42.9 %)
Net Income 14.20 7.69 (45.9 %)
Average Shares 90.00 90.00 -
EPS (Riyals) 0.16 0.09 (45.9 %)

On the other hand, the company’s revenue increased in H1 2024 to SAR 51.46 million, at a growth rate of 32.54% YoY. The increased revenue was driven by the rise in the number of branches to 10 branches compared to seven in H1 2023.

 

Shareholders’ equity, no minority interest, increased in H1 2024 to SAR 111.77 million from SAR 107.77 million in H1 2023.

 

 

Historical Data

Period

Revenue (SAR mln)

Net Profit (SAR mln)

EPS (SAR)

H1 2021

18.00

7.40

0.08

H2 2021

24.28

8.8

0.10

H1 2022

26.21

8.16

0.09

H2 2022

36.70

13.20

0.15

H1 2023

38.82

14.20

0.16

H2 2023

54.09

14.47

0.16

H1 2024

51.46

7.69

0.09

View More Financial Results

 

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Share Price

Academy of Learning Co.
9.80
(0.05) (0.51 %)

Academy of Learning Co. (ACADEMY OF LEARNING)

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Financial Ratios
Current
Market Cap (M Riyal) 882.00
Enterprise Value (EV) (M) 855.17
Shares Outstanding ((M)) 90.00
Book Value (BV) ( Riyal) 1.26
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 30.76
Price/book 7.80
more


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 18.00 - 11.80 - 7.93 -
H2 2021 24.28 - 15.18 - 10.57 -
H1 2022 26.21 45.6 % 16.70 41.5 % 9.20 16.0 %
H2 2022 36.71 51.2 % 22.95 51.2 % 13.75 30.1 %
H1 2023 38.82 48.1 % 25.44 52.4 % 14.00 52.1 %
H2 2023 54.08 47.3 % 32.12 40.0 % 14.58 6.0 %
H1 2024 51.46 32.5 % 23.16 (9.0 %) 7.99 (42.9 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 7.40 - 0.08 - 7.40 0.08
H2 2021 8.80 - 0.10 - 8.80 0.10
H1 2022 8.16 10.3 % 0.09 - 8.16 0.09
H2 2022 13.20 50.0 % 0.15 - 13.20 0.15
H1 2023 14.20 74.1 % 0.16 - 14.20 0.16
H2 2023 14.47 9.6 % 0.16 - 14.47 0.16
H1 2024 7.69 (45.9 %) 0.09 - 7.69 0.09

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 63.81 % 51.53 % 38.31 %
H1 2022 63.14 % 46.35 % 33.59 %
H2 2022 63.02 % 43.14 % 33.95 %
H1 2023 64.07 % 43.42 % 36.29 %
H2 2023 61.96 % 38.83 % 30.86 %
H1 2024 52.38 % 32.96 % 20.99 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 90.00 - - 0.94
H2 2021 90.00 0.18 0.18 1.04
H1 2022 90.00 0.19 0.19 1.13
H2 2022 90.00 0.24 0.24 1.17
H1 2023 90.00 0.30 0.30 1.20
H2 2023 90.00 0.32 0.32 1.26
H1 2024 90.00 0.25 0.25 1.24

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 11.54 11.54 2.34
H1 2023 14.71 14.71 3.74
H2 2023 19.87 19.87 5.04
H1 2024 33.31 33.31 6.60

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