Naba Alsaha earns SAR 13M in H1 2024

25/08/2024 Argaam Exclusive

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Naba Alsaha Medical Services Co. reported a net profit of SAR 13 million in the first half of 2024, compared to SAR 27.8 million in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 81.84 96.27 17.6 %
Net Income 27.77 13.04 (53.0 %)
Average Shares 10.50 10.50 -
EPS (Riyals) 2.64 1.24 (53.0 %)

The lower profit was attributed to the one-off gains included on the acquisition of Al-Anwar Medical Hospital in Hail during H1 2023. Naba Alsaha opened new facilities at the newly-acquired hospital, which led the company to incur higher operating expenses. The positive financial impact of these expansions is expected to show in H1 2025.
Meanwhile, Naba Alsaha reported higher revenue on the increased inpatient and outpatient count, as well as the improved utilization rate.
Shareholders’ equity, no minority interest, reached SAR 193.13 million as of June 30, 2024, up from SAR 155.68 million a year earlier.
 

Historical 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

2.64

H2 2023

100.51

24.61

2.34

H1 2024

96.27

13.04

1.24
 

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