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

14/03/2024 Argaam Exclusive

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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 %

Item	Q3 2023	Q4 2023	Change‬
Revenues	749.83	806.01	7.5 %
Gross Income	280.86	295.94	5.4 %
Operating Income	130.97	126.50	(3.4 %)
Net Income	98.87	113.65	14.9 %
Average Shares	97.68	97.68	-
EPS (Riyals)	1.01	1.16	14.9 %

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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