Canadian Medical Center reports SAR 15.7M profit in 2023

26/03/2024 Argaam Exclusive

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Canadian Medical Center Co. reported a net profit of SAR 15.7 million for 2023, compared to SAR 15.65 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	81.23	100.34	23.5 %
Gross Income	24.97	31.54	26.3 %
Operating Income	17.26	15.90	(7.9 %)
Net Income	15.65	15.71	0.4 %
Average Shares	77.00	77.00	-
EPS (Riyals)	0.20	0.20	0.4 %

Revenue increased by 23.53% year-on-year to SAR 100 million in 2023 due to expansions in Saudi Arabia.

Net profit was also supported by the increase in operating income. The provision for doubtful debts rose by SAR 5.87 million.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	42.31	55.13	30.3 %
Gross Income	12.34	17.33	40.4 %
Operating Income	8.15	7.59	(6.8 %)
Net Income	7.72	7.71	(0.1 %)
Average Shares	77.00	77.00	-
EPS (Riyals)	0.10	0.10	(0.1 %)

Item	H1 2023	H2 2023	Change‬
Revenues	45.22	55.13	21.9 %
Gross Income	14.21	17.33	21.9 %
Operating Income	8.31	7.59	(8.6 %)
Net Income	8.00	7.71	(3.7 %)
Average Shares	77.00	77.00	-
EPS (Riyals)	0.10	0.10	(3.7 %)

Total shareholders’ equity, no minority interest, stood at SAR 91.83 million by Dec. 31, 2023, compared to SAR 87.01 million a year ago.

Historical Data
Period	Revenue (SAR mln)	Net profit (SAR mln)	EPS (SAR /share)
H1 2020	29.83	8.4	0.11
H2 2020	34.38	7.75	0.10
H1 2021	30.18	4.96	0.06
H2 2021	40.46	9.1	0.12
H1 2022	38.92	7.94	0.10
H2 2022	42.31	7.71	0.10
H1 2023	45.22	8.00	0.10
H2 2023	55.12	7.71	0.10

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