Financial Results : Tibbiyah earns SAR 38.1M in 2023

Tibbiyah earns SAR 38.1M in 2023

30/03/2024 Argaam Exclusive

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Arabian International Healthcare Holding Co. (Tibbiyah) posted a net profit of SAR 38.1 million for 2023, compared to SAR 20.5 million a year earlier. 



Financials (M)

Item 2022 2023 Change‬
Revenues 642.67 806.92 25.6 %
Gross Income 154.16 190.04 23.3 %
Operating Income 44.03 46.72 6.1 %
Net Income 20.47 38.09 86.0 %
Average Shares 20.00 20.00 -
EPS (Riyals) 1.02 1.90 86.0 %

The company recorded revenue of SAR 806.9 million in 2023, an increase of 25.6% year-on-year (YoY) from SAR 642.7 million. This was driven by a strong core growth on the robust performance of subsidiary Al Faisaliah Medical Systems (FMS) and the continued reliability of International Medical Supplies (Premma). This was supported by the positive contribution of Innovative Healthcare Company Holding Limited (IHC).

 

FMS registered a 37.4% increase YoY in revenue on the back of a solid project backlog with a healthy order intake, increased private sector demand and addition of new suppliers.

 

Although Premma faced a challenging first half of the year, it registered a positive performance overall, demonstrating the resilience and strength of its fundamentals.



Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬
Revenues 427.43 490.96 14.9 %
Gross Income 113.36 126.85 11.9 %
Operating Income 60.94 50.85 (16.6 %)
Net Income 41.15 61.61 49.7 %
Average Shares 20.00 20.00 -
EPS (Riyals) 2.06 3.08 49.7 %

Shareholders' equity, no minority interest, reached SAR 306.59 million at the end of 2023, up from SAR 289.67 million in 2022.

 

Historical Data

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2020

193.65

(30.96)

(1.55)

H2 2020

625.04

126.75

6.34

H1 2021

249.24

5.10

0.25

H2 2021

369.30

77.21

3.86

H1 2022

215.24

(20.68)

(1.03)

H2 2022

427.43

41.15

2.06

H1 2023

315.96

(80.22)

(14.1)

H2 2023

490.96

60.89

3.04

View More Financial Results

 

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