April 15, 2025

One on One Educational Services Limited(ONE)

Unaudited financials for the six months ended February 28, 2025:

One on One Educational Services Limited (ONE) for the six months ended February 28, 2025 reported a 53% increase in Revenues totaling $169.89 million compared to $111.37 million in the corresponding period last year. Revenues for the second quarter had a 38% increase to close at $78.05 million compared to $56.73 million for the comparable quarter of 2024.

Year to date, Direct Cost amounted to $54.35 million (2024: $31.83 million), this represents an increase of 71% year over year. Consequently, gross profit increased by 45% to $115.55 million compared to $79.54 million for the six months ended February 28, 2024. The company booked gross profit of $55.54 million for the second quarter versus $38.71 million reported for the similar quarter of 2024.

Year to date, Other Income increased by 31% to close at $1.19 million (2024: $907, 872), while Administrative Expenses decreased by 20% from $98.99 million in 2024 to $79.10 million in the period under review. Additionally, selling expense for the six months ended February 28, 2025 amounted to $9.18 million, a 32% decrease relative to $13.46 million reported in 2024.

Operating Profit for the six months ended February 28, 2025, amounted to $28.45 million, an 189% increase relative to Operating loss of $31.99 million reported in 2024. Operating Profit for the second quarter amounted to $11.80 million (2024: Operating loss of $15.29 million). Finance costs totaled $9.26 million, a 8% increase from the corresponding period last year. (2024: $8.56 million).

Profit Before Taxation for the six months ended February 28, 2025, amounted to $19.19 million, a 147% increase relative to Loss Before Taxation of $40.56 million reported in 2024. Profit Before Taxation for the second quarter amounted to $7.39 million (2024: Loss before taxation of $21.77 million).

The tax charge incurred for the six months ended February 28, 2025 had a 10% decrease to reach $803, 624 (2024: $890, 671) . As a result, Net Profit for the six months amounted to $18.39 million, a 144% increase from the net loss of $41.45 million reported in 2024. For the second quarter, Net Profit was $7.16 million (2024: Net loss of $19.93 million).

Consequently, Earnings Per Share for the six months amounted to $0.01 (2024: LPS: $0.02), while Earnings Per Share for the quarter totaled $0.004 (2024: LPS: $0.01). The twelve-month trailing EPS was $0.03 and the number of shares used in these calculations was 1,900,000,000.

Notably, ONE’s stock price closed the trading period on April 14, 2025 at a price of $0.87 with a corresponding P/E ratio of 27.20x.

Balance Sheet Highlights

The company’s assets totaled $662.60 million (2024: $609.26 million). The movement in total assets was mainly attributable to a 20% increase in ‘Intangible assets’ amounting to $373.54 million (2023: $310.94 million). Additionally, ‘Cash and Bank balances’ increased by 70% amounting to $110.03 million (2023: $64.90 million), partly offset by a 41% decline in ‘Trade and other receivables’ amounting to $67.82 million (2023: $115.32 million).

Shareholder’s equity was $423.41 million (2024: $362.63 million), representing a book value per share of $0.22 (2024: $0.19).

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