Almasar Alshamil Education (6019) Q3 2025 earnings summary

Executive summary

• 9M 2025 revenue rose to SAR336,023k from SAR271,635k YoY; net profit increased to SAR83,624k from SAR79,894k.

• Q3 revenue reached SAR47,913k versus SAR37,101k YoY, while net loss widened to SAR18,207k from SAR8,798k.

• 9M EBITDA was SAR129m, up 7% YoY; total students and beneficiaries reached 28.0k, up 22%.

• Deloitte's review found no matter indicating the interim financial information was not prepared, in all material respects, under IAS 34.

Financial highlights

• 9M gross profit rose to SAR132,322k from SAR114,715k; operating profit was SAR88,313k versus SAR89,419k.

• 9M profit before zakat and income tax was SAR86,023k versus SAR86,986k; basic and diluted EPS was SAR0.69 versus SAR0.66.

• Adjusted 9M EBITDA was SAR130,312k versus SAR122,035k; adjusted profit was SAR80,040k versus SAR80,779k.

• Q3 operating loss was SAR22,449k versus SAR9,129k; gross profit was SAR69k versus a gross loss of SAR2,375k.

• Q3 EBITDA was a SAR8m loss versus SAR2m profit; additional head-office costs were SAR8m YoY.

Outlook and guidance

• Summer-break seasonality typically lowers Q3 revenue; results for periods ended 30 September are not indicative of full-year performance.

• Positive Q4 2025 EBITDA and remainder-of-academic-year outlook, supported by enrollment growth and operational efficiencies as operations scale.

• Strategic priorities include organic growth in special needs and higher education, expanding HDC's network, attracting MDX international students and exploring complementary education verticals.

• IPO price range was announced on 2 November 2025; final pricing follows book building, and listing remains subject to milestones and regulatory requirements.