Care net profit falls 16% to SAR 30 mln in Q1 2022

16/05/2022 Argaam Exclusive

National Medical Care Co. (Care) reported a net profit after Zakat and tax of SAR 30 million in Q1 2022, a 16% decline from SAR 35.7 million in the previous year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 214.19 211.48 (1.3 %)
Gross Income 63.64 61.44 (3.5 %)
Operating Income 42.18 35.17 (16.6 %)
Net Income 35.73 30.00 (16.0 %)
Average Shares 44.85 44.85 -
EPS (Riyals) 0.80 0.67 (16.0 %)

The lower earnings were attributed to a 1.3 fall year-on-year (YoY) in net revenue due to reduced referrals from the Ministry of Health (MoH) and General Organization for Social Insurance (GOSI).  Gross profit margin declined to 29.1% YoY on a reduction in higher-margin business from MoH and GOSI.  

 

Additionally, selling and marketing expenses, and general and administrative expenses surged. 

 

Sequentially, net profit after Zakat and tax declined 18.3% from SAR 36.71 million in Q4 2021. 

 

Total shareholders’ equity, excluding minority interest, rose 7.6% to SAR 1.154 billion in Q1 2022, compared to SAR 1.072 billion in the year-ago period.

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Share Price

National Medical Care Co.
171.00
4.00 2.40 %

National Medical Care Co. (CARE)

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Financial Ratios
Current
Market Cap (M Riyal) 7,669.35
Enterprise Value (EV) (M) 7,653.84
Shares Outstanding ((M)) 44.85
EPS ( Riyal) (TTM) 6.12
Book Value (BV) ( Riyal) 34.35
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 31.25
P/E (TTM) 27.94
Price/book 4.98
Return on Average Assets (%) (TTM) 13.3
Return on Average Equity (%) (TTM) 18.7
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