Aldawaa’s H1 2022 profit up 27% to SAR 167.8 mln, Q2 at SAR 80.7 mln

23/08/2022 Argaam Exclusive

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Aldawaa Medical Services Co. (DMSCO) recorded a 27% increase in H1 2022 net profit after Zakat and tax to SAR 167.8 million, from SAR 131.8 million a year earlier.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	2,476.48	2,605.01	5.2 %
Gross Income	909.93	1,000.97	10.0 %
Operating Income	141.26	161.27	14.2 %
Net Income	131.78	167.78	27.3 %
Average Shares	85.00	85.00	-
EPS (Riyals)	1.55	1.97	27.3 %

The company reported an increase of 5.19% year-on-year YoY), or SAR 128.5 million in revenue during the first half of 2022.

The first-half gross profit rose 10% YoY to SAR 1.001 billion, implying a margin of 38.4%.

Operating profit grew by 14.16% YoY to SAR 161 million, accounting for 6.2% from net sales.

In Q2 2022, net profit after Zakat and tax leapt 52% to SAR 80.7 million, from SAR 52.9 million a year earlier, as revenue rose by 3.4% YoY. Gross and operating profit increased by 10.7% and 35.3% YoY, respectively in the three-month period.

The company’s net profit dropped 7.4% from SAR 87.11 million on a sequential basis, hut by a decrease in the fair value gain on swap derivatives liabilities compared to Q1 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2021	Q2 2022	Change‬
Revenues	1,266.77	1,310.19	3.4 %
Gross Income	457.98	506.79	10.7 %
Operating Income	66.91	90.55	35.3 %
Net Income	52.94	80.67	52.4 %
Average Shares	85.00	85.00	-
EPS (Riyals)	0.62	0.95	52.4 %

Item	Q1 2022	Q2 2022	Change‬
Revenues	1,294.82	1,310.19	1.2 %
Gross Income	494.18	506.79	2.6 %
Operating Income	70.71	90.55	28.1 %
Net Income	87.11	80.67	(7.4 %)
Average Shares	85.00	85.00	-
EPS (Riyals)	1.02	0.95	(7.4 %)

Shareholders’ equity, after minority interest, dropped to SAR 1.086 billion by the end of H1 2022, from SAR 1.253 billion a year earlier.

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