Financial Results : Sulaiman Al Habib profit jumps 20% in 2022 to SAR 1.65 bln; Q4 at SAR 441.5 mln

Sulaiman Al Habib profit jumps 20% in 2022 to SAR 1.65 bln; Q4 at SAR 441.5 mln

19/02/2023 Argaam Exclusive

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Dr. Sulaiman Al Habib Medical Services Group (HMG) posted a 20% rise in net profit after Zakat and tax to SAR 1.65 billion for 2022, compared to SAR 1.37 billion in 2021.



Financials (M)

Item 2021 2022 Change‬
Revenues 7,250.47 8,310.74 14.6 %
Gross Income 2,330.23 2,748.14 17.9 %
Operating Income 1,466.15 1,700.49 16.0 %
Net Income 1,376.62 1,650.75 19.9 %
Average Shares 350.00 350.00 -
EPS (Riyals) 3.93 4.72 19.9 %

The higher profit was spurred by revenues, which increased by 14.62% year-on-year (YoY) to SAR 83.10 billion, on growth in all segments.

 

The annual revenue growth was mainly driven by the hospital segment, due to the increase in the number of patients and higher occupancy for inpatient. The pharmacy segment sales also rose, driven by a rise in the number of patients compared to the previous year.

 

Earnings before interest, tax, depreciation and amortization (EBITDA) jumped 15.66% YoY to SAR 2.13 billion, driving EBITDA margin to reach 25.70% compared to 25.47% in 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 1,968.13 2,253.68 14.5 %
Gross Income 643.38 737.07 14.6 %
Operating Income 396.25 427.56 7.9 %
Net Income 383.59 441.50 15.1 %
Average Shares 350.00 350.00 -
EPS (Riyals) 1.10 1.26 15.1 %

The fourth-quarter net profit grew by 15% to SAR 441.5 million, from SAR 383.59 million in the prior-year period.

 

Compared to the previous quarter, net profit rose 5% from SAR 420.62 million.

 

Shareholders’ equity, no minority interest, rose to SAR 5.87 billion as of Dec. 31, 2022, from SAR 5.33 billion a year earlier.

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