Dallah Healthcare’s net profit up 31% to SAR 360.1M in 2023, Q4 at SAR 113.7M

14/03/2024 Argaam Exclusive

Dallah Healthcare Co. reported a net profit of SAR 360.1 million for 2023, growth of 31% from SAR 274.5 million a year earlier



Financials (M)

Item 2022 2023 Change‬
Revenues 2,487.98 2,942.90 18.3 %
Gross Income 895.10 1,078.67 20.5 %
Operating Income 392.49 471.60 20.2 %
Net Income 274.46 360.12 31.2 %
Average Shares 90.00 97.68 8.5 %
EPS (Riyals) 3.05 3.69 20.9 %

Revenues rose by 18.3% year-on-year (YoY) to SAR 2.94 billion, due to the increase in the number of visitors to the group’s hospitals and higher occupancy rates following improved operations and capacity.

 

Gross profit led up 21% YoY on higher revenue. Meanwhile, Dallah noted associates’ improved performance and the company’s acquisition of an additional interest in an associated company in 2023.

 

Dallah recorded Zakat provisions at SAR 18.5 million in 2022, while in 2023 amended Zakat assessments were received in favor of the company.

 

Q4 2023 net profit rose 45% YoY to SAR 113.7 million.

 

On a quarterly basis, net profit grew 14.9%, from SAR 98.87 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 693.88 806.01 16.2 %
Gross Income 239.81 295.94 23.4 %
Operating Income 101.69 126.50 24.4 %
Net Income 78.44 113.65 44.9 %
Average Shares 90.00 97.68 8.5 %
EPS (Riyals) 0.87 1.16 33.5 %

Total shareholders’ equity, after minority interest, stood at SAR 3.20 billion by Dec. 31, 2023, compared to SAR 1.98 billion a year earlier.

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Share Price

Dallah Healthcare Co.
157.00
(0.40) (0.25 %)

Dallah Healthcare Co. (DALLAH HEALTH)

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Financial Ratios
Current
Market Cap (M Riyal) 15,335.76
Enterprise Value (EV) (M) 17,255.36
Shares Outstanding ((M)) 97.68
EPS ( Riyal) (TTM) 4.82
Book Value (BV) ( Riyal) 34.96
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 32.56
P/E (TTM) 32.56
Price/book 4.49
Return on Average Assets (%) (TTM) 7.5
Return on Average Equity (%) (TTM) 14.3
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