Dr. Sulaiman Al Habib Medical Services Group posted a 24% profit jump in H1 2023 to SAR 976.2 million, compared to SAR 788.6 million in H1 2022, thanks to a 14.34% rise year-on-year (YoY) in revenue to SAR 4.57 billion. This was driven by the growth in the hospital and pharmacy segments, due to increased number of patients and inpatients occupancy, which in turn boosted the pharmacy segment sales.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 4,004.87 | 4,579.14 | 14.3 % |
| Gross Income | 1,329.44 | 1,558.47 | 17.2 % |
| Operating Income | 836.84 | 1,009.38 | 20.6 % |
| Net Income | 788.64 | 976.24 | 23.8 % |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 2.25 | 2.79 | 23.8 % |
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 18.26% YoY to SAR 1.23 billion. Net profit margins expanded by 1.63% YoY to 21.32% from 19.69% in H1 2022.
In Q2 2023, the net profit grew 22% to SAR 487 million from SAR 398.13 million in the prior-year period. Revenue grew by 12.82% YoY to SAR 2.27 billion on continued growth in operating segments. EBITDA jumped 16.88% YoY to SAR 615.61 million. Net profit margins also rose to 21.34% from 19.77% in Q2 2022.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 2,014.01 | 2,272.27 | 12.8 % |
| Gross Income | 670.88 | 774.83 | 15.5 % |
| Operating Income | 414.75 | 498.81 | 20.3 % |
| Net Income | 398.13 | 486.97 | 22.3 % |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 1.14 | 1.39 | 22.3 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 2,306.88 | 2,272.27 | (1.5 %) |
| Gross Income | 783.64 | 774.83 | (1.1 %) |
| Operating Income | 510.57 | 498.81 | (2.3 %) |
| Net Income | 489.27 | 486.97 | (0.5 %) |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 1.40 | 1.39 | (0.5 %) |
The net earnings edged down 0.5% from SAR 489.27 million in Q1 2023, as revenue decreased by 1.50% due to seasonal factors in the second quarter of the year.
Shareholders’ equity, after minority interest, stood at SAR 6.19 billion by the end of the six-month period, up from SAR 5.59 billion a year earlier.
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