Aldawaa profit climbs 12% to SAR 370.1M in 2024, Q4 at SAR 103.8M

17/03/2025 Argaam Exclusive

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Aldawaa Medical Services Co. reported a net profit of SAR 370.1 million for 2024, an increase of 12% from SAR 329.2 million a year earlier.

Financials (M)

Item	2023	2024	Change‬
Revenues	5,741.36	6,450.94	12.4 %
Gross Income	2,106.62	2,293.07	8.9 %
Operating Income	466.69	514.08	10.2 %
Net Income	329.22	370.11	12.4 %
Average Shares	85.00	85.00	-
Earnings Per Share before unusual items (Riyals)	3.87	4.35	12.4 %
EPS (Riyals)	3.87	4.35	12.4 %

Revenues soared by 12.4% (SAR 709.5 million) year-on-year (YoY) in 2024, fueled by growth in the company's core pharmacy business, through retail, online, and multi-channel sales. This came as a result of the expanded customer base, which grew 11.7% YoY by year-end.

This is besides revenues from the company's other activities, specifically the distribution which leapt 19% YoY in 2024. Further, its healthcare logistics arm, Logistics Solutions System Co. (PROCEED), recorded a 143% YoY surge in 2024 revenues.

The company also witnessed a 9% (SAR 186.4 million) YoY rise in its 2024 gross profit. It also cited cost optimization for the same year, which pushed operating profit higher by 10.2% (SAR 47.4 million).

The Q4 2024 net profit also rose 12% to SAR 103.8 million, from SAR 92.35 million in the prior-year period.

On a quarterly basis, Q4 net profit leapt 38.3% from SAR 75.09 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	1,458.09	1,722.01	18.1 %
Gross Income	525.09	582.57	10.9 %
Operating Income	126.38	139.06	10.0 %
Net Income	92.35	103.81	12.4 %
Average Shares	85.00	85.00	-
Earnings Per Share before unusual items (Riyals)	1.09	1.22	12.4 %
EPS (Riyals)	1.09	1.22	12.4 %

Item	Q3 2024	Q4 2024	Change‬
Revenues	1,626.23	1,722.01	5.9 %
Gross Income	570.11	582.57	2.2 %
Operating Income	110.23	139.06	26.2 %
Net Income	75.09	103.81	38.3 %
Average Shares	85.00	85.00	-
Earnings Per Share before unusual items (Riyals)	0.88	1.22	38.3 %
EPS (Riyals)	0.88	1.22	38.3 %

Total shareholders’ equity, no minority interest, elevated to SAR 1.45 billion by Dec. 31, 2024, compared to SAR 1.31 billion a year earlier.

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Company	Estimated	Actual	Change
BUDGET SAUDI	77.68	100.11	28.9 %
ALDAWAA	86.13	103.81	20.5 %
ARABIAN MILLS	56.00	57.22	2.2 %
YCC	39.56	27.95	(29.3 %)

Company	Estimated	Actual	Change
BUDGET SAUDI	77.68	100.11	28.9 %
ALDAWAA	86.13	103.81	20.5 %
ARABIAN MILLS	56.00	57.22	2.2 %

Company	Estimated	Actual	Change
YCC	39.56	27.95	(29.3 %)

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