Naba Alsaha profit rises 80% to SAR 27.8 mln in H1 2023

03/09/2023 Argaam Exclusive

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Naba Alsaha Medical Services Co. posted a net profit of SAR 27.8 million in H1 2023, up 80% from SAR 15.4 million a year earlier.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	62.90	81.84	30.1 %
Gross Income	27.34	33.63	23.0 %
Operating Income	15.65	18.66	19.3 %
Net Income	15.39	27.77	80.4 %
Average Shares	10.50	10.50	-
EPS (Riyals)	1.47	2.64	80.4 %

The profit increase was driven by a 30.1% or SAR 18.94 million increase in revenue to SAR 81.84 million compared to the previous period as income from outpatient clinics and inpatients rose by 15% and 22%, respectively, year-on-year (YoY).

In addition, Al-Anwar Medical Hospital reported a revenue of SAR 4.63 million for the six-month period, which led to an increase in the company’s net profit by SAR 12.38 million or 80.4% YoY.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	62.90	81.84	30.1 %
Gross Income	27.34	33.63	23.0 %
Operating Income	15.65	18.66	19.3 %
Net Income	15.39	27.77	80.4 %
Average Shares	10.50	10.50	-
EPS (Riyals)	1.47	2.64	80.4 %

Item	H2 2022	H1 2023	Change‬
Revenues	66.79	81.84	22.5 %
Gross Income	24.31	33.63	38.4 %
Operating Income	12.67	18.66	47.3 %
Net Income	11.53	27.77	140.8 %
Average Shares	10.50	10.50	-
EPS (Riyals)	1.10	2.64	140.8 %

Shareholders’ equity, no minority interest, stood at SAR 155.69 million as of June 30, 2023, compared to SAR 118.25 million a year earlier.

Quarterly Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2021	56.56	14.23	2.03
H2 2021	61.12	11.60	1.66
H1 2022	62.90	15.39	2.20
H2 2022	66.78	11.53	1.65
H1 2023	81.84	27.77	3.97

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