Financial Results : Sulaiman Al Habib profit rises 13% to SAR 2.3B in 2024; Q4 at SAR 613.8M

Sulaiman Al Habib profit rises 13% to SAR 2.3B in 2024; Q4 at SAR 613.8M

16/02/2025 Argaam Exclusive

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Dr. Sulaiman Al Habib Medical Services Group reported a net profit of SAR 2.31 billion for 2024, an increase of 13% from SAR 2.04 billion in the year-earlier period.



Financials (M)

Item 2023 2024 Change‬
Revenues 9,508.44 11,200.43 17.8 %
Gross Income 3,270.05 3,744.26 14.5 %
Operating Income 2,095.65 2,356.26 12.4 %
Net Income 2,046.01 2,315.29 13.2 %
Average Shares 350.00 350.00 -
Earnings Per Share before unusual items (Riyals) 5.68 6.49 14.2 %
EPS (Riyals) 5.85 6.62 13.2 %

Revenue grew by 17.79% to SAR 11.2 billion, up from SAR 9.50 billion in the previous year, mainly driven by the growth in both hospital and pharmacy segments. In addition, the increase in patient numbers within the hospital segment had a direct positive impact on the pharmacy segment.

 

The group opened Al-Fayhaa Hospital (Al-Fayhaa - Jeddah) and Shamal Al Riyadh Hospital (Al-Sahafa - Riyadh), where both projects are currently in the revenue ramp-up phase during their first operational year.

 

Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2024 increased by 18% YoY to SAR 2.97 million, as EBITDA margin reached 26.57% from 26.61% a year ago.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 2,486.49 3,128.85 25.8 %
Gross Income 868.16 996.81 14.8 %
Operating Income 534.18 624.13 16.8 %
Net Income 525.01 613.77 16.9 %
Average Shares 350.00 350.00 -
Earnings Per Share before unusual items (Riyals) 1.34 1.63 21.7 %
EPS (Riyals) 1.50 1.75 16.9 %

Q4 2024 net profit rose 17% to SAR 613.77 million from SAR 525.01 million a year ago.

 

On a sequential basis, net earnings grew 3.1% from SAR 595.54 million in Q3 2024.

 

Total shareholders’ equity, after minority interest, stood at SAR 7.17 billion by Dec. 31, 2024, compared to SAR 6.48 billion a year earlier.

 

Attached Documents

 

 

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