AME profit rises 26% to SAR 33.5M in 2023

25/03/2024 Argaam Exclusive

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AME Company for Medical Supplies posted a net profit rise of 26% to SAR 33.5 million in 2023 from SAR 26.7 million in 2022.

Financials (M)

Item	2022	2023	Change‬
Revenues	193.17	223.32	15.6 %
Gross Income	90.28	98.75	9.4 %
Operating Income	29.98	36.48	21.7 %
Net Income	26.68	33.52	25.6 %
Average Shares	7.00	7.00	-
EPS (Riyals)	3.81	4.79	25.6 %

The company recorded a rise in the annual net revenue (net sales revenues) by SAR 30.15 million, mainly due to increased sales of medical supplies and medical equipment. This increase was backed by AME capturing a larger market share.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	84.82	102.98	21.4 %
Gross Income	41.42	43.06	4.0 %
Operating Income	12.72	12.47	(2.0 %)
Net Income	11.31	11.32	0.1 %
Average Shares	7.00	7.00	-
EPS (Riyals)	1.62	1.62	0.1 %

Item	H1 2023	H2 2023	Change‬
Revenues	120.34	102.98	(14.4 %)
Gross Income	55.69	43.06	(22.7 %)
Operating Income	24.01	12.47	(48.1 %)
Net Income	22.20	11.32	(49.0 %)
Average Shares	7.00	7.00	-
EPS (Riyals)	3.17	1.62	(49.0 %)

Shareholders’ equity, no minority interest, reached SAR 127.16 million as of Dec. 31, 2023, up from SAR 107.34 million a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2020	44.66	4.18	0.60
H2 2020	76.94	16.89	2.41
H1 2021	69.78	7.50	1.07
H2 2021	81.61	13.72	1.96
H1 2022	108.35	15.38	2.20
H2 2022	84.82	11.30	1.61
H1 2023	120.34	22.20	3.17
H2 2023	102.98	11.32	1.62

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