Equipment House net profit after minorities up 4% to SAR 77.6 mln in 2021

31/03/2022 Argaam Exclusive

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Scientific & Medical Equipment House Co. reported a net profit after minorities of SAR 77.6 million for 2021, a 4% increase from SAR 74.8 million in the year-earlier period.

Financials (M)

Item	2020	2021	Change‬
Revenues	617.48	699.45	13.3 %
Gross Income	150.85	152.98	1.4 %
Operating Income	88.06	83.42	(5.3 %)
Net Income	74.76	77.52	3.7 %
Average Shares	30.00	30.00	-
EPS (Riyals)	2.49	2.58	3.7 %

The profit rise was attributed to winning and commencing six new projects during 2021 with total contracts value of SAR 258.4 million, in addition to projects won and commenced at the end of 2020 and continued in 2021 with total value of SAR 267.4 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬

Item	Q3 2021	Q4 2021	Change‬
Revenues	176.51	205.30	16.3 %
Gross Income	37.54	39.07	4.1 %
Operating Income	19.21	17.52	(8.8 %)
Net Income	16.97	17.45	2.9 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.57	0.58	2.9 %

Shareholders’ equity, after minority interest, grew by 10.6% to SAR 473.458 million as of Dec. 31, 2021, from SAR 428.002 million a year earlier.

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