Current Margin
+7.7%
SAR 12.5M operating profit · FY24-25
~16pp below peer median
Year 1 Target
10%
Board commitment by 30 July 2026
+2.3pp from baseline
Year 5 Path
20.0%
FY30-31 steady state
operating margin
Net Revenue · FY24-25
162.8M
SAR · total tuitions less fee discounts · FY24-25 actuals
Net Income · FY24-25
+16.2M
after SAR 3.7M other income · 10.0% net margin
non-recurring
⚠️ BUPA expires
16 days
SAR 10.3M · 24 May 2026 · 1,244 lives
act this week
Total Employees
607
338 Saudi · 269 Expat
55.7% Saudi
Students
~3,960
Capacity 4,500 · ~173 usable Intl seats
Identified Savings
SAR 23M+
Over 3 years · steady-state run-rate
22 actions
EOSB Liability
SAR 35.5M
Conservative reserve SAR 41M
Cash Position
SAR 26.7M
FY25-26 YTD: -SAR 2.7M cash flow
deteriorating
Margin trajectory: +7.7% operating profit to ~20% by FY30-31 (net income 10.0% today)
Selected scenario plotted against NCLE / Ataa / Al-Ofok benchmarks
Riyadh Schools is 15-21pp behind peer set
Operating margin comparison · FY24-25 baselines
Cost gaps by category, FY24-25 actual vs target
The four cost categories that drove the engagement
Year 1 profit lift by move
Base case · annualized run-rate, before transition timing
P&L: baseline → Year 1 → Year 5
FY24-25 management accounts to FY30-31 steady state
Scenario Builder
Toggle recommendations to see live P&L impact
Selected actions22 of 22
Annualized P&L liftSAR 23.5M
Year 1 capexSAR 1.5M
Year 1 EOSB cashSAR 0.6M
New margin (steady state)
21.0%
Projected P&L impact
Operating P&L in selected scenario, steady-state run-rate
Cost gaps closed in selected scenario
How much each cost category drops vs. baseline
Year 1 profit bridge: baseline to outcome
Where the lift comes from, with capex and EOSB drag
Execution progress against the 22 actions
Click any status to update: Not Started → In Progress → Blocked → Complete. Live state persists in this browser.
⚠️ Expires this month
BUPA medical insurance
24 May 2026 · SAR 10.3M annual · 1,244 lives
Expires Q3 2026
3 contracts
SAR 1.7M total · review now
Expires Q4 2026
7 contracts
SAR 13.4M total · plan retender
2026 contract obligations timeline
When SAR exposure expires by month
Contract register
Sorted by expiry. Urgent items in red, high-priority in amber.
| Contract | Annual SAR | Expiry | Priority | Recommended action |
|---|
Five decisions for the board this meeting
Each has an owner, a deadline, and a financial gate. None can wait.
Cash side: P&L benefit is not cash
FY24-25 ended +SAR 0.5M, FY25-26 YTD is -SAR 2.7M. Capex and EOSB land before savings do.
Companion materials
The plan is now active. Tracking, retender support, and the FY30 model are the next phase of work.
The Final Recommendations document is at this link. Use the Progress Tracker tab to mark actions as they advance. Status persists locally between sessions. Green CPA remains available for follow-on support including weekly tracker review, retender execution, RSG chargeback modeling, and the FY30 steady-state operating model. Coordinate via your Green CPA partner contact.
5-Year Financial Sustainability Model
Starting from the Year 1 post-recommendations baseline (SAR 162.8M net revenue, SAR 140.7M opex, 13.6% margin). Adjust growth assumptions to model the 5-year outlook.
5.0%
0%15%
3.0%
0%10%
Year 5 Revenue
—
FY30-31 projected
Year 5 Total Opex
—
FY30-31 projected
Year 5 Operating Profit
—
FY30-31 projected
Year 5 Op. Margin
—
FY30-31 projected
Revenue vs. Operating Expenses & Margin Trajectory
SAR M (bars, left axis) · Operating margin % (line, right axis)
Operating Profit by Year
SAR M · Green ≥ SAR 20M · Gold ≥ SAR 10M
Revenue vs. Cost Growth Index
FY24-25 baseline = 100 · Gap = margin expansion
Model assumptions:
Year 1 baseline is the post-recommendations state (SAR 162.8M net revenue, SAR 140.7M opex after SAR 9.6M net savings including SAR 1.9M EOSB/transition cost). Revenue is net of fee discounts (CFO-confirmed actuals). Revenue growth is applied to Year 1 revenue each subsequent year. Opex growth is applied to Year 1 opex each subsequent year. No additional cost-saving initiatives are modelled beyond Year 1 unless the land development toggle is enabled.
Figures are directional management estimates, not audited projections.
RM Academy — Net Contribution Analysis
FY26-27 budget · All figures SAR
| Subscription Revenue | +SAR 3,780,000 |
| Payroll (14 FTE) | −SAR 1,981,315 |
| RM Franchise fee (consulting) | −SAR 350,000 |
| Events, sport, media, other | −SAR 886,177 |
| After-hours utilities (est.) | −SAR 105,258 |
| Gross Profit (direct costs) | +SAR 562,508 (14.9%) |
| Central overhead allocation (est.) | −SAR 370–500K |
| Net contribution (fully-loaded) | ⚠ SAR 0 to −SAR 130K |
Action required: Commission a value review before the next RM cycle — verify after-hours utility consumption by metering, build fully-loaded P&L with overhead allocation, and quantify the enrolment/retention benefit of the RM brand.
Adjacent Land — Housing Development
Expert feasibility study, May 2026 · 102 units · SAR 26.5M project cost
📐 Expert Study Findings
Total units: 102 apartments
Unit size: 100 m² each
Spec: 2BR + living room
Build area: 11,298 m²
Basement cost: SAR 8.5M
Construction: SAR 18.0M
Total project cost: SAR 26.5M · Build timeline: 1 year
30
1050
Staff units allocated: 72 · Rental rate: SAR 40,000 / yr / unit
| Current annual housing lease cost | −SAR 4.3M / yr |
| Lease savings (Year 2 onward) | +SAR 4.3M / yr |
| Rental income (30 units × SAR 40K) | +SAR 1.20M / yr |
| Total annual benefit (Year 2+) | +SAR 5.50M / yr |
| Project cost (Year 1 capex) | SAR 26.5M |
| Simple payback period | 4.8 years |
| Other income current (RM + sponsors + DSS + PR) | SAR 6.66M (3.4% of gross rev) |
| Other income with rental | SAR 7.86M (4.0%) |
Decision trigger: Al-Aqiq lease expires October 2026.
Board approval at Oct 2026 meeting → construction during FY26-27 → staff move-in FY27-28 → full P&L benefit from Year 2.
This option is now supported by a verified expert cost estimate and should graduate from flagged optionality to a board decision item.
KSA peer other-income range: 3–8% of gross revenue. Current: 3.4%. With base-case rental: 4.0%.
Wave 1
Immediate
Now → Aug 2026
SAR 4.4M
year 1 savings
Wave 2
Contract renewals
Q3–Q4 2026
SAR 6.8M
potential savings
Wave 3
Org & Asset
6–18 months
SAR 6.7M
potential savings
Wave 4
RSG Migration
FY27 onward
SAR 5.2M
potential savings
Wave 5
National wind-down
Through FY30
SAR 3.8M
net benefit
Implementation Timeline
Five waves · May 2026 → FY30-31
Actions by Wave
Deadline · Category · Saving · EOSB cost
Critical Milestones
Departmental Correction Plans
Facilities Management
Suggested 3-phase roadmap from the Facilities workshop. Pending department confirmation & RSG alignment.
Facilities Correction Plan — Phases & Roadmap
Phase · Corrective action · Owner · Expected impact · RSG alignment