Almasar Alshamil Education (6019) Q2 2025 earnings summary

Executive summary

• H1 2025 revenue was SAR 288.1m vs SAR 234.5m YoY; operating profit was SAR 110.8m vs SAR 98.5m and net profit SAR 101.8m vs SAR 88.7m.

• Q2 revenue was SAR 134.3m vs SAR 109.7m YoY; net profit was SAR 53.1m vs SAR 42.8m.

• Review conclusion: no matters came to the auditor’s attention indicating non-compliance with IAS 34 in all material respects.

Financial highlights

• H1 gross profit was SAR 132.3m vs SAR 117.1m; cost of revenue increased to SAR 155.9m from SAR 117.4m.

• H1 G&A expenses were SAR 62.9m vs SAR 46.8m; share of associate results was SAR 23.7m vs SAR 14.9m.

• H1 finance costs were SAR 4.6m vs SAR 3.3m; zakat and income tax expense was SAR 7.3m vs SAR 8.5m.

• H1 profit attributable to equity holders was SAR 90.4m vs SAR 78.1m; basic and diluted EPS was SAR 0.88 vs SAR 0.76.

Outlook and guidance

• SAR 50m long-term financing facility obtained for ongoing expansion projects; no drawdowns had been made by 30 June 2025, and covenants are tested annually.

• UAE corporate tax returns for FY 2024 were due to be filed during 2025; the first UAE corporate tax filing was due 30 September 2025.