AME net profit edges up to SAR 21.2 mln in 2021

27/03/2022 Argaam Exclusive

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AME Company for Medical Supplies (AME) reported a marginal rise of 0.7% in its 2021 net profit after Zakat and tax to SAR 21.2 million, from SAR 21.07 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	121.60	151.39	24.5 %
Gross Income	55.28	69.55	25.8 %
Operating Income	22.64	28.96	27.9 %
Net Income	21.07	21.22	0.7 %
Average Shares	7.00	7.00	-
EPS (Riyals)	3.01	3.03	0.7 %

The medical equipment manufacturer attributed the slight increase in net profit to revenue growth as the sales of medical supplies and equipment increased by SAR 19.5 million and SAR 8.6 million year-on-year (YoY), respectively.

AME also reported a rise in other income on disposal of a fixed asset.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2020	H2 2021	Change‬
Revenues	76.94	81.60	6.1 %
Gross Income	33.27	37.54	12.8 %
Operating Income	17.70	15.70	(11.3 %)
Net Income	16.89	13.72	(18.7 %)
Average Shares	7.00	7.00	-
EPS (Riyals)	2.41	1.96	(18.7 %)

Item	H1 2021	H2 2021	Change‬
Revenues	69.78	81.60	16.9 %
Gross Income	32.00	37.54	17.3 %
Operating Income	13.27	15.70	18.3 %
Net Income	7.50	13.72	83.0 %
Average Shares	7.00	7.00	-
EPS (Riyals)	1.07	1.96	83.0 %

Shareholders' equity, excluding minority interest, increased to SAR 93.414 million in 2021, compared to SAR 63.548 million in 2020.

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