Al Hammadi net profit up 41% to SAR 130.8 mln for 2020

28/03/2021 Argaam Exclusive

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Al Hammadi Company for Development and Investment reported net profit after Zakat and tax of SAR 130.8 million in 2020, up 41% from SAR 93 million in 2019.

Financials (M)

Item	2019	2020	Change‬
Revenues	974.06	764.06	(21.6 %)
Gross Income	282.62	252.83	(10.5 %)
Operating Income	129.59	103.91	(19.8 %)
Net Income	93.00	130.83	40.7 %
Average Shares	160.00	160.00	-
EPS (Riyals)	0.58	0.82	40.7 %

This profit rise was backed by higher revenue of medical services segment and increased occupancy rates due to the COVID-19 outbreak.

The Saudi medical services provider also cited an increase in the number of patient transfers from the Ministry of Health, in addition to the improved performance of Al-Hammadi Nuzha branch hospital.

Al Hammadi also reported lower operating costs from the pharmaceutical products segment and decreased financing costs.

Q4 2020 net profit increased by 9% year-on-year (YoY) to SAR 30.2 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	270.55	230.47	(14.8 %)
Gross Income	83.72	68.48	(18.2 %)
Operating Income	39.60	19.33	(51.2 %)
Net Income	27.65	30.21	9.3 %
Average Shares	160.00	160.00	-
EPS (Riyals)	0.17	0.19	9.3 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	207.85	230.47	10.9 %
Gross Income	77.59	68.48	(11.7 %)
Operating Income	43.13	19.33	(55.2 %)
Net Income	36.57	30.21	(17.4 %)
Average Shares	160.00	160.00	-
EPS (Riyals)	0.23	0.19	(17.4 %)

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