Dallah Healthcare 2021 profit after minorities rises to SAR 258.3 mln, Q4 up 27% to SAR 73.4 mln

22/03/2022 Argaam Exclusive

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Dallah Healthcare Co. reported a net profit after Zakat and tax after minorities of SAR 258.3 million for 2021, an 88% increase, from SAR 137.7 million logged a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	1,318.25	2,105.18	59.7 %
Gross Income	449.73	760.36	69.1 %
Operating Income	125.16	327.92	162.0 %
Net Income	132.00	258.60	95.9 %
Average Shares	90.00	90.00	-
EPS (Riyals)	1.47	2.87	95.9 %

The profit surge was attributed to higher revenue driven by the acquisitions made by the company during the last quarter of the previous year and increasing the number of patients, which led to an increase in occupancy rates for outpatient clinics and inpatient.

Improved gross profit margin due to a decrease in cost of revenue as a percentage of revenue was also cited as a reason for the increase by the company.

Dallah reported a net profit of SAR 73.4 million for Q4 2021, a 27% increase, from SAR 57.7 million in Q4 2020.

On a sequential basis, net earnings fell 13.3% from SAR 84.7 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	405.30	575.57	42.0 %
Gross Income	143.57	222.91	55.3 %
Operating Income	40.26	116.48	189.4 %
Net Income	51.98	108.60	108.9 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.58	1.21	108.9 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	544.12	575.57	5.8 %
Gross Income	192.46	222.91	15.8 %
Operating Income	69.95	116.48	66.5 %
Net Income	49.85	108.60	117.8 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.55	1.21	117.8 %

Total shareholders’ equity, excluding minority interest, grew 4% to SAR 1.867 billion from SAR 1.795 billion a year ago.

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