Financial Results : Sulaiman Al Habib H1 2024 profit rises 13% to SAR 1.10B; Q2 at SAR 555M

Sulaiman Al Habib H1 2024 profit rises 13% to SAR 1.10B; Q2 at SAR 555M

28/07/2024 Argaam Exclusive

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Dr. Sulaiman Al Habib Medical Services Group posted a 13% profit jump in H1 2024 to SAR 1.10 billion, compared to SAR 976.2 million in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 4,579.14 5,095.03 11.3 %
Gross Income 1,558.47 1,755.36 12.6 %
Operating Income 1,009.38 1,107.75 9.7 %
Net Income 976.24 1,105.97 13.3 %
Average Shares 350.00 350.00 -
EPS (Riyals) 2.79 3.16 13.3 %

Revenues grew by 11.27% year-on-year (YoY) to SAR 5.09 billion, as a result of the growth in all group operating segments and the increase in the number of patients

 

Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 10.16% YoY to SAR 1.36 billion. Meanwhile, EBITDA margin reached 26.78% during the six-month period, compared to 27.04% a year earlier.

 

The second-quarter net earnings leapt 14% to SAR 555 million compared with SAR 486.97 million in Q2 2023, as revenue increased by 13.26% to SAR 2.57 billion driven by growth in all group operating segments.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 2,272.27 2,573.62 13.3 %
Gross Income 774.83 878.03 13.3 %
Operating Income 498.81 551.67 10.6 %
Net Income 486.97 555.03 14.0 %
Average Shares 350.00 350.00 -
EPS (Riyals) 1.39 1.59 14.0 %

On a sequential basis, Q2 2024 net earnings rose 0.7% from SAR 550.95 million in Q1 2024.

 

Shareholders’ equity, after minority interest, stood at SAR 6.79 billion by the end of the six-month period, up from SAR 6.19 billion a year earlier.

 

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