Financial Results : Mouwasat posts higher net profit at SAR 52.5mln in I1 of 2013

Mouwasat posts higher net profit at SAR 52.5mln in I1 of 2013

31/03/2013 Argaam Exclusive

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Mouwasat Medical Services Co., active in the operation and management of hospitals and medical clinics, reported SAR 52.5m net profit at the end of the first quarter of 2013, a 13% increase compared to the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2012 Q1 2013 Change‬
Revenues 195.57 219.23 12.1 %
Gross Income 94.32 110.39 17.0 %
Operating Income 53.36 58.25 9.2 %
Net Income 46.34 52.52 13.3 %
Average Shares 200.00 200.00 -
EPS (Riyals) 0.23 0.26 13.3 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 113.83 - 52.37 - 27.91 -
Q2 2008 118.48 - 53.79 - 29.33 -
Q3 2008 104.92 - 47.23 - 23.73 -
Q4 2008 117.32 - 47.51 - 29.27 -
Q1 2009 124.60 9.5 % 56.25 7.4 % 30.77 10.2 %
Q2 2009 140.62 18.7 % 67.77 26.0 % 41.29 40.8 %
Q3 2009 115.21 9.8 % 54.05 14.4 % 29.09 22.6 %
Q4 2009 137.16 16.9 % 49.94 5.1 % 20.05 (31.5 %)
Q1 2010 143.79 15.4 % 68.04 21.0 % 39.35 27.9 %
Q2 2010 148.78 5.8 % 71.36 5.3 % 41.41 0.3 %
Q3 2010 134.72 16.9 % 63.30 17.1 % 29.14 0.2 %
Q4 2010 160.20 16.8 % 74.36 48.9 % 32.98 64.5 %
Q1 2011 166.82 16.0 % 84.05 23.5 % 45.72 16.2 %
Q2 2011 164.93 10.9 % 76.76 7.6 % 41.80 0.9 %
Q3 2011 156.92 16.5 % 74.10 17.1 % 39.80 36.6 %
Q4 2011 189.77 18.5 % 89.09 19.8 % 41.95 27.2 %
Q1 2012 195.57 17.2 % 94.32 12.2 % 53.36 16.7 %
Q2 2012 200.62 21.6 % 93.28 21.5 % 51.87 24.1 %
Q3 2012 187.28 19.3 % 84.01 13.4 % 37.08 (6.8 %)
Q4 2012 213.04 12.3 % 101.10 13.5 % 43.73 4.3 %
Q1 2013 219.23 12.1 % 110.39 17.0 % 58.25 9.2 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 25.90 - 0.13 - 25.90 0.13
Q2 2008 26.63 - 0.13 - 26.63 0.13
Q3 2008 20.47 - 0.10 - 20.47 0.10
Q4 2008 24.07 - 0.12 - 24.07 0.12
Q1 2009 26.55 2.5 % 0.13 - 26.55 0.13
Q2 2009 34.03 27.8 % 0.17 - 34.03 0.17
Q3 2009 21.88 6.9 % 0.11 - 21.88 0.11
Q4 2009 24.58 2.1 % 0.12 - 24.58 0.12
Q1 2010 32.37 21.9 % 0.16 - 32.37 0.16
Q2 2010 34.77 2.2 % 0.17 - 34.77 0.17
Q3 2010 23.14 5.8 % 0.12 - 23.14 0.12
Q4 2010 28.28 15.1 % 0.14 - 28.28 0.14
Q1 2011 39.14 20.9 % 0.20 - 39.14 0.20
Q2 2011 40.49 16.4 % 0.20 - 40.49 0.20
Q3 2011 33.71 45.7 % 0.17 - 33.71 0.17
Q4 2011 34.72 22.8 % 0.17 - 34.72 0.17
Q1 2012 46.34 18.4 % 0.23 - 46.34 0.23
Q2 2012 47.26 16.7 % 0.24 - 47.26 0.24
Q3 2012 35.44 5.1 % 0.18 - 35.44 0.18
Q4 2012 42.56 22.6 % 0.21 - 42.56 0.21
Q1 2013 52.52 13.3 % 0.26 - 52.52 0.26

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 44.20 % 30.76 % 21.36 %
Q1 2009 44.01 % 30.89 % 21.00 %
Q2 2009 44.88 % 32.07 % 21.57 %
Q3 2009 45.32 % 32.67 % 21.40 %
Q4 2009 44.05 % 30.06 % 20.68 %
Q1 2010 44.67 % 30.72 % 21.03 %
Q2 2010 44.66 % 30.02 % 20.85 %
Q3 2010 44.76 % 28.94 % 20.35 %
Q4 2010 47.16 % 30.15 % 20.18 %
Q1 2011 48.00 % 29.97 % 20.53 %
Q2 2011 47.63 % 29.54 % 20.91 %
Q3 2011 47.66 % 30.31 % 21.83 %
Q4 2011 47.76 % 30.40 % 21.82 %
Q1 2012 47.27 % 30.32 % 21.95 %
Q2 2012 47.22 % 30.30 % 21.81 %
Q3 2012 46.65 % 28.88 % 21.18 %
Q4 2012 46.79 % 28.28 % 21.54 %
Q1 2013 47.40 % 28.13 % 21.68 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2004 - - - -
Q2 2004 - - - -
Q3 2004 - - - -
Q4 2004 - - - -
Q1 2005 - - - -
Q2 2005 - - - -
Q3 2005 - - - -
Q4 2005 - - - -
Q1 2006 - - - -
Q2 2006 - - - -
Q3 2006 - - - -
Q4 2006 - - - -
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 - - - -
Q1 2008 200.00 - - 1.90
Q2 2008 200.00 - - 1.92
Q3 2008 200.00 - - 2.02
Q4 2008 200.00 0.49 0.49 2.05
Q1 2009 200.00 0.49 0.49 2.18
Q2 2009 200.00 0.53 0.53 2.27
Q3 2009 200.00 0.53 0.53 2.28
Q4 2009 200.00 0.54 0.54 2.40
Q1 2010 200.00 0.56 0.56 2.56
Q2 2010 200.00 0.57 0.57 2.61
Q3 2010 200.00 0.57 0.57 2.72
Q4 2010 200.00 0.59 0.59 2.86
Q1 2011 200.00 0.63 0.63 3.06
Q2 2011 200.00 0.66 0.66 3.01
Q3 2011 200.00 0.71 0.71 3.18
Q4 2011 200.00 0.74 0.74 3.34
Q1 2012 200.00 0.78 0.78 3.57
Q2 2012 200.00 0.81 0.81 3.44
Q3 2012 200.00 0.82 0.82 3.61
Q4 2012 200.00 0.86 0.86 3.82
Q1 2013 200.00 0.89 0.89 4.08

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 14.20 14.20 3.31
Q4 2009 14.31 14.31 3.19
Q1 2010 13.68 13.68 3.02
Q2 2010 14.64 14.64 3.19
Q3 2010 14.75 14.75 3.11
Q4 2010 15.18 15.18 3.15
Q1 2011 13.52 13.52 2.77
Q2 2011 16.08 16.08 3.50
Q3 2011 13.29 13.29 2.96
Q4 2011 15.92 15.92 3.53
Q1 2012 16.83 16.83 3.66
Q2 2012 13.89 13.89 3.27
Q3 2012 15.57 15.57 3.53
Q4 2012 15.66 15.66 3.52
Q1 2013 18.00 18.00 3.92

Business Segments (Million)

Compared With The
Period Medical Services Pharmaceutical Products Administration Fees
Q1 2008 86.60 26.81 0.43
Q2 2008 91.71 26.38 0.40
Q3 2008 84.21 20.23 0.47
Q4 2008 84.07 31.65 1.61
Q1 2009 94.61 29.63 0.36
Q2 2009 105.22 28.44 6.97
Q3 2009 92.73 26.15 (3.67)
Q4 2009 103.72 33.04 0.40
Q1 2010 109.41 32.47 1.92
Q2 2010 114.73 34.05 -
Q3 2010 102.85 31.87 -
Q4 2010 118.91 41.29 -
Q1 2011 129.63 37.19 -
Q2 2011 128.04 36.89 -
Q3 2011 123.09 33.84 -
Q4 2011 149.24 40.52 -
Q1 2012 155.38 40.19 -
Q2 2012 159.24 41.38 -
Q3 2012 149.51 37.77 -
Q4 2012 168.11 44.93 -
Q1 2013 177.18 42.05 -

Current
Market Cap (M Riyal) 19,160.00
Enterprise Value (EV) (M) 19,980.65
Shares Outstanding ((M)) 200.00
EPS ( Riyal) (TTM) 3.29
Book Value (BV) ( Riyal) 17.69
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 29.11
P/E (TTM) 29.11
Price/book 5.42
Return on Average Assets (%) (TTM) 13.0
Return on Average Equity (%) (TTM) 19.8

Share Price

Mouwasat Medical Services Co. (MOUWASAT)


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