Almasar Alshamil Education (6019) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was SAR 153.8m and net profit SAR 48.8m, compared with SAR 124.8m and SAR 45.9m in Q1 2024; basic and diluted EPS was SAR 0.39 versus SAR 0.37.

• Interim financial information received a review conclusion stating that nothing came to the auditor’s attention indicating it was not prepared, in all material respects, under IAS 34.

Financial highlights

• Revenue was SAR 153.8m versus SAR 124.8m; gross profit was SAR 72.9m versus SAR 64.1m for the three months ended 31 March.

• Operating profit was SAR 53.8m versus SAR 50.2m; profit before zakat and income tax was SAR 52.7m versus SAR 49.4m.

• Net profit was SAR 48.8m versus SAR 45.9m; profit attributable to equity holders was SAR 40.2m versus SAR 37.4m.

• Reported EBITDA was SAR 66.7m versus SAR 60.5m; EPS was SAR 0.39 versus SAR 0.37.

• General, selling and administrative expenses rose to SAR 34.0m from SAR 24.7m; direct costs were SAR 80.9m versus SAR 60.7m.

Segment performance

• Operations are reported as one education segment, spanning Saudi Arabia and the UAE.

• Revenue by geography: Saudi Arabia SAR 69.6m versus SAR 55.8m; UAE SAR 84.2m versus SAR 69.0m in Q1 2024.

• Revenue by service: tuition fees net of scholarships SAR 85.5m versus SAR 70.6m; special education and care services SAR 53.8m versus SAR 42.8m.

• Student administrative and other fees were SAR 10.7m versus SAR 7.0m; joint-services revenue was SAR 3.8m versus SAR 4.4m.