Aldawaa 9M 2022 net profit up 27% to SAR 215.9 mln; Q3 at SAR 48.15 mln

02/11/2022 Argaam Exclusive

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Aldawaa Medical Services Co. reported a net profit after Zakat and tax of SAR 215.9 million for the first nine months of 2022, an increase of 27%, compared to SAR 170.07 million in the year-earlier period.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	3,736.04	3,913.94	4.8 %
Gross Income	1,361.32	1,485.91	9.2 %
Operating Income	192.07	243.95	27.0 %
Net Income	170.07	215.94	27.0 %
Average Shares	85.00	85.00	-
EPS (Riyals)	2.00	2.54	27.0 %

The company cited a 4.8% year-on-year (YoY) increase in revenue, and stronger gross and operating profits, in addition to improved sales.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	1,259.56	1,308.93	3.9 %
Gross Income	451.39	484.94	7.4 %
Operating Income	50.81	82.69	62.7 %
Net Income	38.29	48.15	25.7 %
Average Shares	85.00	85.00	-
EPS (Riyals)	0.45	0.57	25.7 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	1,310.19	1,308.93	(0.1 %)
Gross Income	506.79	484.94	(4.3 %)
Operating Income	90.55	82.69	(8.7 %)
Net Income	80.67	48.15	(40.3 %)
Average Shares	85.00	85.00	-
EPS (Riyals)	0.95	0.57	(40.3 %)

Q3 2022 net profit after Zakat and tax increased 26% YoY to SAR 48.2 million, from SAR 38.29 million in a prior-year period, on a 4% YoY rise in revenue, 37% YoY higher gross profit, a 6.3% YoY growth in operating profit and stronger sales.

On a sequential basis, net profit dropped 40.3% from SAR 80.67 million.

Total shareholders’ equity, excluding minority rights, reached SAR 1.025 billion as of Sept. 30, 2022, compared to SAR 1.059 billion in prior-year period.

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