Tibbiyah incurs SAR 31.8M losses in H1 2024

01/09/2024 Argaam Exclusive

Arabian International Healthcare Holding Co. (Tibbiyah) reported a net loss of SAR 31.8 million for H1 2024, compared to a loss of SAR 23.5 million a year earlier.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 315.96 274.10 (13.3 %)
Gross Income 63.19 61.96 (1.9 %)
Operating Income (4.13) (16.48) (299.0 %)
Net Income (23.52) (31.81) (35.3 %)
Average Shares 20.00 20.00 -
EPS (Riyals) (1.18) (1.59) (35.3 %)

Losses widened in H1 2024 on lower revenues, due to the effective implementation of backlog projects at Al Faisaliah Medical Systems Co. (FMS) in the second half of 2023, which led to a reduction in available work during the first half of 2024.

 

Gross profit dropped 1.9% year-on-year (YoY) to SAR 62 million in H1 2024. However, margins improved from 20.0% to 22.6% YoY on the company's strategic focus on managing costs across its core segments.

 

Tibbiyah recorded an operating loss excluding goodwill impairment of SAR 12.8 million in H1 2024, compared to an operating loss of SAR 0.3 million in H1 2023.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 315.96 274.10 (13.3 %)
Gross Income 63.19 61.96 (1.9 %)
Operating Income (4.13) (16.48) (299.0 %)
Net Income (23.52) (31.81) (35.3 %)
Average Shares 20.00 20.00 -
EPS (Riyals) (1.18) (1.59) (35.3 %)

Total shareholders’ equity, after excluding minority interest, rose to SAR 277.34 million as of June 30, 2024, from SAR 251.47 million a year earlier.

 

Attached Documents

 

 

Historical Data

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

249.24

5.10

0.25

H2 2021

369.30

77.21

3.87

H1 2022

215.24

(20.68)

(1.03)

H2 2022

427.43

41.15

2.05

H1 2023

315.96

(23.52)

(1.18)

H2 2023

490.96

61.61

3.08

H1 2024

274.10

(31.81)

(1.59)

 

View more financial results

 

View other reports

Share Price

Arabian International Healthcare Holding Co.
41.20
(0.50) (1.20 %)

Arabian International Healthcare Holding Co. (TIBBIYAH)

More


Financial Ratios
Current
Market Cap (M Riyal) 824.00
Enterprise Value (EV) (M) 1,265.97
Shares Outstanding ((M)) 20.00
Book Value (BV) ( Riyal) 15.33
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
Price/book 2.69
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request