Financial Results : Naba Alsaha's 2022 net profit jumps 4% to SAR 26.9 mln

Naba Alsaha's 2022 net profit jumps 4% to SAR 26.9 mln

27/03/2023 Argaam Exclusive

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Naba Alsaha Medical Services Co.’s net profit advanced 4.2% to SAR 26.9 million by the end of 2022, versus SAR 25.8 million in the year before.



Financials (M)

Item 2021 2022 Change‬
Revenues 117.68 129.68 10.2 %
Gross Income 46.78 51.64 10.4 %
Operating Income 26.97 28.31 5.0 %
Net Income 25.83 26.92 4.2 %
Average Shares 10.50 10.50 -
Earnings Per Share before unusual items 2.46 2.56 4.2 %
EPS (Riyals) 2.46 2.56 4.2 %

The profit growth was spurred by an estimated 21% year-on-year (YoY) uptick in the number of patients. This stimulated an increase in the revenues of ancillary services, represented in laboratory, x-ray and pharmacy services, by circa 19% YoY.



Current Half Annual Comparison (M)

Compared With The
Item H2 2021 H2 2022 Change‬
Revenues 61.12 66.79 9.3 %
Gross Income 23.63 24.31 2.9 %
Operating Income 12.80 12.67 (1.0 %)
Net Income 11.60 11.53 (0.6 %)
Average Shares 10.50 10.50 -
Earnings Per Share before unusual items 1.10 1.10 (0.6 %)
EPS (Riyals) 1.10 1.10 (0.6 %)

Shareholders' equity, after minority interest, amounted to SAR 130.01 million as of Dec. 31, 2022, up from SAR 102.86 million a year earlier.

 

Naba Alsaha restated its comparative figures to conform to the current year. Accordingly, SAR 200,000 worth of property and equipment, which were completely depreciated in the past, have been amortized into intangible assets. Some long-term loans, valued at SAR 8 million, have been reclassified as repayable during the current period.

 

The reclassification does not impact financing activities and financials for the period ended Dec. 31, 2021, and the condensed interim financial statements for the six months period ended June 30, 2022.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 56.56 - 23.16 - 14.17 -
H2 2021 61.12 - 23.63 - 12.80 -
H1 2022 62.90 11.2 % 27.34 18.1 % 15.65 10.4 %
H2 2022 66.79 9.3 % 24.31 2.9 % 12.67 (1.0 %)
2022 129.68 10.2 % 51.64 10.4 % 28.31 5.0 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 14.23 - 1.36 - 14.23 1.36
H2 2021 11.60 - 1.10 - 11.60 1.10
H1 2022 15.39 8.2 % 1.47 - 15.39 1.47
H2 2022 11.53 (0.6 %) 1.10 - 11.53 1.10
2022 26.92 4.2 % 2.56 - 26.92 2.56

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 - - -
2022 39.82 % 27.05 % 20.76 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
H1 2013 - - - -
H2 2013 - - - -
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 10.50 - - 8.82
H2 2021 10.50 - - 9.80
H1 2022 10.50 - - 11.26
H2 2022 10.50 - - 12.38

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 - - 2.31

Business Segments (Million)

Compared With The
Period Medical Services Pharmaceuticals
Q2 2022 57.77 5.13
Q4 2022 61.09 5.70


Share Price

Naba Alsaha Medical Services Co.
80.80
(0.10) (0.12 %)

Naba Alsaha Medical Services Co. (NABA ALSAHA)

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