Dr. Sulaiman Al Habib Medical Group (HMG) reported a net profit after Zakat and tax of SAR 438.9 million for the first half of 2020, a 9% year-on-year (YoY) increase, compared to SAR 402.1 million in the same period a year ago.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 2,385.09 | 2,546.35 | 6.8 % |
| Gross Income | 738.90 | 759.71 | 2.8 % |
| Operating Income | 411.75 | 461.92 | 12.2 % |
| Net Income | 402.05 | 438.85 | 9.2 % |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 1.15 | 1.25 | 9.2 % |
The company attributed the profit rise to 6.76% increase in revenues, higher gross profit and operating income, a 17.23% increase in net income margin, and 14.58% increase in EBITDA.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 1,157.19 | 1,203.01 | 4.0 % |
| Gross Income | 334.70 | 359.86 | 7.5 % |
| Operating Income | 163.58 | 203.31 | 24.3 % |
| Net Income | 167.97 | 192.25 | 14.5 % |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 0.48 | 0.55 | 14.5 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 1,343.34 | 1,203.01 | (10.4 %) |
| Gross Income | 399.85 | 359.86 | (10.0 %) |
| Operating Income | 258.61 | 203.31 | (21.4 %) |
| Net Income | 246.60 | 192.25 | (22.0 %) |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 0.70 | 0.55 | (22.0 %) |
The company’s Q2 net profit after Zakat and tax increased by 15% YoY to SAR 192.3 million due to a 3.96% rise in revenues, higher net income by 14.46%, a 7.52% rise in gross profit, and 24.29% growth in operating income.
However, on a quarterly basis, Q2 net profit slumped 22% due to seasonality of revenue, which dropped by 10.45% quarter-on-quarter, in addition to the effect of the curfew in the second quarter.
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