Academy of Learning Co. announces its Annual Financial results for Fiscal year ending on 30-06-2025 (Eighteen Months)
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 227,913,440 | 92,905,710 | 145.32 | ||
| Gross Profit (Loss) | 111,241,805 | 57,563,510 | 93.25 | ||
| Operational Profit (Loss) | 57,263,741 | 29,381,226 | 94.9 | ||
| Net profit (Loss) | 41,456,300 | 28,671,510 | 44.59 | ||
| Total Comprehensive Income | 40,225,673 | 28,512,452 | 41.08 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 144,303,947 | 113,078,274 | 27.61 | ||
| Profit (Loss) per Share | 0.46 | 0.32 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The Company’s revenues for the current financial period (18 months) increased to SAR 227.91 million, representing a growth of 145.32% compared to the audited period of the previous year (12 months), and a growth of 63.54% compared to the audited previous year adjusted to match the current period length (18 months). The main reasons for this revenue growth are as follows:
1. Opening of three new branches in Riyadh (two branches) and Dammam (one branch), with a total maximum capacity of 7,200 students. 2. The number of students benefiting from the Company’s services increased by 64%, reaching 16,520 students during the current period (18 months), compared to 10,100 students during the comparative period of the previous year (12 months). 3. The average revenue per student rose to SAR 13,796 in the current period, compared to SAR 9,199 in the previous period, representing a growth of 50%. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The Company’s net profit for the current financial period (18 months) increased to SAR 41.5 million, representing a growth of 44.59% compared to the audited period of the previous year (12 months), and a decrease of 3.6% compared to the audited previous year adjusted to match the current period length (18 months), despite the following:
1. The Company recorded operating losses for the Riyadh – Granada District (women’s) branch amounting to SAR 18.6 million during the current financial period (18 months), due to the branch’s opening during the current year, with actual operations commencing in mid-August 2024. Consequently, this impacted the Company’s financial results, leading to these operating losses for the branch, which are considered non-recurring as they represent the first-year operating losses of new expansions. Excluding these losses, the Company’s net profit for the period (18 months) would have been approximately SAR 60 million, an increase of 39.6% compared to the corresponding period of the previous year (18 months). Despite the current impact of these expansions, the Company remains committed to its expansion strategy to create sustainable future growth opportunities, with the positive impact of these expansions expected to begin from the second half of 2025, thereby enhancing the Company’s revenues and profitability over the long term.
2. Selling and marketing expenses for the Company during the current financial period (18 months) increased to SAR 27.9 million, representing a growth of 191.08% compared to the audited period of the previous year (12 months), and a growth of 94.06% compared to the audited previous year adjusted to match the current period length (18 months). This was in line with the Company’s plan to market its expansions and products, which positively contributed to revenue growth and is expected to continue reflecting positively on the Company’s results in the coming periods. 3. Finance costs for the Company during the current financial period (18 months) increased to SAR 10.9 million, compared to SAR 2.06 million for the comparative period of the previous year (12 months). This increase was primarily due to new expansions and comprised of: • Finance costs related to right-of-use assets for lease contracts of new branch premises. • Finance costs arising from the use of Shariah-compliant credit facilities. Accordingly, the increase in finance costs resulted from expansions that are expected to strengthen the Company’s future growth rates. |
| Statement of the type of external auditor's report | Notice |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | “We draw attention to Note (1) in the accompanying consolidated financial statements, which describes the change in the fiscal year. Our opinion is not modified in respect of this matter.” |
| Reclassification of Comparison Items | The comparative amount has been reclassified as disclosed in Note (32) to the financial statements to conform with the current year’s presentation. The reclassification had no impact on the previously reported results for the prior year. |
| Additional Information | 1. The Company has changed its fiscal year-end to June 30 of each year instead of December 31. Accordingly, the first fiscal year after the change will be an extended (long) fiscal year of 18 months, from January 1, 2024, to June 30, 2025. This required that the comparative financial statements be prepared for 12 months only. Therefore, the announcement disclosed the changes on both bases: 12 months (as per the financial statements) and 18 months (for comparison purposes over the same number of months). Each item was calculated separately by dividing the comparative item by 12 months and multiplying it by 18 months, to align the comparative period (18 months) with the current period (18 months).
2. The Company signed a five-year cooperation agreement with Bunyan Training Company, starting with an initial phase of one and a half years valued at SAR 6 million, followed by agreements on subsequent phases. This cooperation represents an initial step within several future projects between the two companies, in line with the Company’s strategic vision to build qualitative partnerships and achieve growth and expansion plans. The financial impact of this contract began to be reflected starting from the first half of 2025. 3. The Company signed training contracts with the Education Support Association to train several of its beneficiaries, with a total value of SAR 24.3 million over two years. The financial impact of this contract also began to be reflected starting from the first half of 2025. |
| Attached Documents |  |
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