Aldawaa net profit up 8% to SAR 329.2M in 2023, Q4 at SAR 92.4M

18/03/2024 Argaam Exclusive

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Aldawaa Medical Services Co. reported a net profit of SAR 329.2 million for 2023, an increase of 8% from SAR 305.4 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	5,372.24	5,741.36	6.9 %
Gross Income	2,019.60	2,106.62	4.3 %
Operating Income	374.35	479.39	28.1 %
Net Income	305.45	329.22	7.8 %
Average Shares	85.00	85.00	-
EPS (Riyals)	3.59	3.87	7.8 %

This was propelled by the company’s positive sales momentum, which led to a year-on-year (YoY) rise of 4.3%, or SAR 87 million, in gross profit, in addition to its effective asset management and cost control. It also cited a 24.2% YoY hike in operating profit.

Q4 2023 net profit rose 3% YoY to SAR 92.4 million, from SAR 89.51 million in the prior-year period.

On a quarterly basis, net profit grew 29.6% from SAR 71.28 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	1,458.30	1,458.09	0.0 %
Gross Income	533.69	525.09	(1.6 %)
Operating Income	130.39	140.39	7.7 %
Net Income	89.51	92.35	3.2 %
Average Shares	85.00	85.00	-
EPS (Riyals)	1.05	1.09	3.2 %

Item	Q3 2023	Q4 2023	Change‬
Revenues	1,438.95	1,458.09	1.3 %
Gross Income	520.91	525.09	0.8 %
Operating Income	104.60	140.39	34.2 %
Net Income	71.28	92.35	29.6 %
Average Shares	85.00	85.00	-
EPS (Riyals)	0.84	1.09	29.6 %

Total shareholders’ equity, no minority interest, stood at SAR 1.31 billion by Dec. 31, 2023, compared to SAR 1.09 billion a year earlier.

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