Middle East Healthcare Co. (MEAHCO), operator of Saudi German Hospital, reported a net profit of SAR 162.2 million in the first half of 2017, a 9 percent year-on-year (YoY) fall attributed to a 1.9 percent revenue drop, higher caregivers’ salaries and increased cost of financing.
Item | 6m 2016 | 6m 2017 | Change |
---|---|---|---|
Revenues | 831.59 | 744.81 | (10.4 %) |
Gross Income | 429.10 | 319.09 | (25.6 %) |
Operating Income | 180.24 | 166.00 | (7.9 %) |
Net Income | 178.28 | 171.92 | (3.6 %) |
Average Shares | 92.04 | 92.04 | - |
EPS (Riyals) | 1.94 | 1.87 | (3.6 %) |
The company’s net profit for the second quarter dropped by 23 percent YoY to SAR 57.1 million due to lower revenue, seasonality factors as the holy month of Ramadan and Eid al-Fitr fell in Q2, higher caregivers’ salaries in addition to losses pertaining to the newly-opened Hail Hospital.
When compared to the previous quarter, Q2 2017 net profit fell 46 percent, from SAR 105.1 million.
Item | Q2 2016 | Q2 2017 | Change |
---|---|---|---|
Revenues | 410.07 | 351.28 | (14.3 %) |
Gross Income | 212.49 | 138.63 | (34.8 %) |
Operating Income | 76.56 | 58.97 | (23.0 %) |
Net Income | 74.07 | 61.95 | (16.4 %) |
Average Shares | 92.04 | 92.04 | - |
EPS (Riyals) | 0.80 | 0.67 | (16.4 %) |
Item | Q1 2017 | Q2 2017 | Change |
---|---|---|---|
Revenues | 393.53 | 351.28 | (10.7 %) |
Gross Income | 180.47 | 138.63 | (23.2 %) |
Operating Income | 107.04 | 58.97 | (44.9 %) |
Net Income | 109.97 | 61.95 | (43.7 %) |
Average Shares | 92.04 | 92.04 | - |
EPS (Riyals) | 1.19 | 0.67 | (43.7 %) |
Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
---|---|---|---|---|---|---|
Q1 2008 | - | - | - | - | - | - |
Q2 2008 | - | - | - | - | - | - |
Q3 2008 | - | - | - | - | - | - |
Q4 2008 | - | - | - | - | - | - |
2008 | - | - | - | - | - | - |
Q1 2009 | - | - | - | - | - | - |
Q2 2009 | - | - | - | - | - | - |
Q3 2009 | - | - | - | - | - | - |
Q4 2009 | - | - | - | - | - | - |
2009 | - | - | - | - | - | - |
Q1 2010 | - | - | - | - | - | - |
Q2 2010 | - | - | - | - | - | - |
Q3 2010 | - | - | - | - | - | - |
Q4 2010 | - | - | - | - | - | - |
2010 | - | - | - | - | - | - |
Q1 2011 | - | - | - | - | - | - |
Q2 2011 | - | - | - | - | - | - |
Q3 2011 | - | - | - | - | - | - |
Q4 2011 | - | - | - | - | - | - |
2011 | 436.84 | - | 159.99 | - | 40.98 | - |
Q1 2012 | - | - | - | - | - | - |
Q2 2012 | - | - | - | - | - | - |
Q3 2012 | - | - | - | - | - | - |
Q4 2012 | - | - | - | - | - | - |
2012 | 542.22 | 24.1 % | 248.36 | 55.2 % | 72.56 | 77.0 % |
Q1 2013 | - | - | - | - | - | - |
Q2 2013 | - | - | - | - | - | - |
Q3 2013 | - | - | - | - | - | - |
Q4 2013 | - | - | - | - | - | - |
2013 | 828.36 | 52.8 % | 430.49 | 73.3 % | 136.85 | 88.6 % |
Q1 2014 | 359.18 | - | 199.49 | - | 75.11 | - |
Q2 2014 | 347.08 | - | 185.78 | - | 88.17 | - |
Q3 2014 | 323.16 | - | 174.49 | - | 71.53 | - |
Q4 2014 | 369.34 | - | 190.01 | - | 78.37 | - |
2014 | 1,398.75 | 68.9 % | 749.76 | 74.2 % | 313.18 | 128.8 % |
Q1 2015 | 391.64 | 9.0 % | 208.99 | 4.8 % | 102.89 | 37.0 % |
Q2 2015 | 372.00 | 7.2 % | 203.88 | 9.7 % | 89.24 | 1.2 % |
Q3 2015 | 352.20 | 9.0 % | 183.23 | 5.0 % | 88.21 | 23.3 % |
Q4 2015 | 418.69 | 13.4 % | 214.04 | 12.6 % | 97.86 | 24.9 % |
2015 | 1,534.53 | 9.7 % | 810.13 | 8.1 % | 378.20 | 20.8 % |
Q1 2016 | 421.52 | 7.6 % | 216.62 | 3.7 % | 103.68 | 0.8 % |
Q2 2016 | 410.07 | 10.2 % | 212.49 | 4.2 % | 76.56 | (14.2 %) |
Q3 2016 | 379.09 | 7.6 % | 199.40 | 8.8 % | 91.10 | 3.3 % |
Q4 2016 | 404.96 | (3.3 %) | 199.88 | (6.6 %) | 87.04 | (11.1 %) |
2016 | 1,615.64 | 5.3 % | 828.39 | 2.3 % | 358.37 | (5.2 %) |
Q1 2017 | 393.53 | (6.6 %) | 180.47 | (16.7 %) | 107.04 | 3.2 % |
Q2 2017 | 351.28 | (14.3 %) | 138.63 | (34.8 %) | 58.97 | (23.0 %) |
Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
---|---|---|---|---|---|---|
2007 | - | - | - | - | - | - |
2008 | - | - | - | - | - | - |
2009 | - | - | - | - | - | - |
2010 | - | - | - | - | - | - |
2011 | 436.84 | - | 159.99 | - | 40.98 | - |
2012 | 542.22 | 24.1 % | 248.36 | 55.2 % | 72.56 | 77.0 % |
2013 | 828.36 | 52.8 % | 430.49 | 73.3 % | 136.85 | 88.6 % |
2014 | 1,398.75 | 68.9 % | 749.76 | 74.2 % | 313.18 | 128.8 % |
2015 | 1,534.53 | 9.7 % | 810.13 | 8.1 % | 378.20 | 20.8 % |
2016 | 1,615.64 | 5.3 % | 828.39 | 2.3 % | 358.37 | (5.2 %) |
Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
---|---|---|---|---|---|---|
Q1 2008 | - | - | - | - | - | - |
Q2 2008 | - | - | - | - | - | - |
Q3 2008 | - | - | - | - | - | - |
Q4 2008 | - | - | - | - | - | - |
2008 | - | - | - | - | - | - |
Q1 2009 | - | - | - | - | - | - |
Q2 2009 | - | - | - | - | - | - |
Q3 2009 | - | - | - | - | - | - |
Q4 2009 | - | - | - | - | - | - |
2009 | - | - | - | - | - | - |
Q1 2010 | - | - | - | - | - | - |
Q2 2010 | - | - | - | - | - | - |
Q3 2010 | - | - | - | - | - | - |
Q4 2010 | - | - | - | - | - | - |
2010 | - | - | - | - | - | - |
Q1 2011 | - | - | - | - | - | - |
Q2 2011 | - | - | - | - | - | - |
Q3 2011 | - | - | - | - | - | - |
Q4 2011 | - | - | - | - | - | - |
2011 | 36.01 | - | 0.39 | - | 36.01 | 0.39 |
Q1 2012 | - | - | - | - | - | - |
Q2 2012 | - | - | - | - | - | - |
Q3 2012 | - | - | - | - | - | - |
Q4 2012 | - | - | - | - | - | - |
2012 | 61.99 | 72.2 % | 0.67 | - | 61.99 | 0.67 |
Q1 2013 | - | - | - | - | - | - |
Q2 2013 | - | - | - | - | - | - |
Q3 2013 | - | - | - | - | - | - |
Q4 2013 | - | - | - | - | - | - |
2013 | 137.20 | 121.3 % | 1.49 | - | 137.20 | 1.49 |
Q1 2014 | 80.16 | - | 0.87 | - | 80.16 | 0.87 |
Q2 2014 | 92.80 | - | 1.01 | - | 92.80 | 1.01 |
Q3 2014 | 74.36 | - | 0.81 | - | 74.36 | 0.81 |
Q4 2014 | 84.64 | - | 0.92 | - | 84.64 | 0.92 |
2014 | 331.97 | 142.0 % | 3.61 | - | 331.97 | 3.61 |
Q1 2015 | 105.39 | 31.5 % | 1.15 | - | 105.39 | 1.15 |
Q2 2015 | 91.79 | (1.1 %) | 1.00 | - | 91.79 | 1.00 |
Q3 2015 | 90.75 | 22.0 % | 0.99 | - | 90.75 | 0.99 |
Q4 2015 | 102.32 | 20.9 % | 1.11 | - | 102.32 | 1.11 |
2015 | 390.25 | 17.6 % | 4.24 | - | 390.25 | 4.24 |
Q1 2016 | 104.20 | (1.1 %) | 1.13 | - | 104.20 | 1.13 |
Q2 2016 | 74.07 | (19.3 %) | 0.80 | - | 74.07 | 0.80 |
Q3 2016 | 99.64 | 9.8 % | 1.08 | - | 99.64 | 1.08 |
Q4 2016 | 84.73 | (17.2 %) | 0.92 | - | 84.73 | 0.92 |
2016 | 362.64 | (7.1 %) | 3.94 | - | 362.64 | 3.94 |
Q1 2017 | 109.97 | 5.5 % | 1.19 | - | 109.97 | 1.19 |
Q2 2017 | 61.95 | (16.4 %) | 0.67 | - | 61.95 | 0.67 |
Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
---|---|---|---|---|---|---|
2007 | - | - | - | - | - | - |
2008 | - | - | - | - | - | - |
2009 | - | - | - | - | - | - |
2010 | - | - | - | - | - | - |
2011 | 36.01 | - | 0.39 | - | 36.01 | 0.39 |
2012 | 61.99 | 72.2 % | 0.67 | - | 61.99 | 0.67 |
2013 | 137.20 | 121.3 % | 1.49 | - | 137.20 | 1.49 |
2014 | 331.97 | 142.0 % | 3.61 | - | 331.97 | 3.61 |
2015 | 390.25 | 17.6 % | 4.24 | - | 390.25 | 4.24 |
2016 | 362.64 | (7.1 %) | 3.94 | - | 362.64 | 3.94 |
Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
---|---|---|---|
Q1 2008 | - | - | - |
Q2 2008 | - | - | - |
Q3 2008 | - | - | - |
Q4 2008 | - | - | - |
2008 | - | - | - |
Q1 2009 | - | - | - |
Q2 2009 | - | - | - |
Q3 2009 | - | - | - |
Q4 2009 | - | - | - |
2009 | - | - | - |
Q1 2010 | - | - | - |
Q2 2010 | - | - | - |
Q3 2010 | - | - | - |
Q4 2010 | - | - | - |
2010 | - | - | - |
Q1 2011 | - | - | - |
Q2 2011 | - | - | - |
Q3 2011 | - | - | - |
Q4 2011 | - | - | - |
2011 | 36.62 % | 20.91 % | 8.24 % |
Q1 2012 | - | - | - |
Q2 2012 | - | - | - |
Q3 2012 | - | - | - |
Q4 2012 | - | - | - |
2012 | 45.80 % | 20.53 % | 11.43 % |
Q1 2013 | - | - | - |
Q2 2013 | - | - | - |
Q3 2013 | - | - | - |
Q4 2013 | - | - | - |
2013 | 51.97 % | 21.68 % | 16.56 % |
Q1 2014 | - | - | - |
Q2 2014 | - | - | - |
Q3 2014 | - | - | - |
Q4 2014 | 53.60 % | 25.57 % | 23.73 % |
2014 | 53.60 % | 25.57 % | 23.73 % |
Q1 2015 | 53.05 % | 27.10 % | 24.96 % |
Q2 2015 | 53.39 % | 26.84 % | 24.46 % |
Q3 2015 | 52.93 % | 27.56 % | 25.09 % |
Q4 2015 | 52.79 % | 28.05 % | 25.43 % |
2015 | 52.79 % | 28.05 % | 25.43 % |
Q1 2016 | 52.27 % | 27.77 % | 24.87 % |
Q2 2016 | 51.57 % | 26.50 % | 23.17 % |
Q3 2016 | 51.71 % | 26.41 % | 23.34 % |
Q4 2016 | 51.27 % | 26.12 % | 22.45 % |
2016 | 51.27 % | 26.12 % | 22.45 % |
Q1 2017 | 49.90 % | 26.91 % | 23.20 % |
Q2 2017 | 46.99 % | 27.02 % | 23.30 % |
Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
---|---|---|---|
2007 | - | - | - |
2008 | - | - | - |
2009 | - | - | - |
2010 | - | - | - |
2011 | 36.62 % | 20.91 % | 8.24 % |
2012 | 45.80 % | 20.53 % | 11.43 % |
2013 | 51.97 % | 21.68 % | 16.56 % |
2014 | 53.60 % | 25.57 % | 23.73 % |
2015 | 52.79 % | 28.05 % | 25.43 % |
2016 | 51.27 % | 26.12 % | 22.45 % |
Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
---|---|---|---|
Q1 2008 | - | - | - |
Q2 2008 | - | - | - |
Q3 2008 | - | - | - |
Q4 2008 | - | - | - |
Q1 2009 | - | - | - |
Q2 2009 | - | - | - |
Q3 2009 | - | - | - |
Q4 2009 | - | - | - |
Q1 2010 | - | - | - |
Q2 2010 | - | - | - |
Q3 2010 | - | - | - |
Q4 2010 | - | - | - |
Q1 2011 | - | - | - |
Q2 2011 | - | - | - |
Q3 2011 | - | - | - |
Q4 2011 | - | - | - |
Q1 2012 | - | - | - |
Q2 2012 | - | - | - |
Q3 2012 | - | - | - |
Q4 2012 | - | - | - |
Q1 2013 | - | - | - |
Q2 2013 | - | - | - |
Q3 2013 | - | - | - |
Q4 2013 | - | - | - |
Q1 2014 | 55.54 % | 23.76 % | 22.32 % |
Q2 2014 | 53.53 % | 28.54 % | 26.74 % |
Q3 2014 | 54.00 % | 25.72 % | 23.01 % |
Q4 2014 | 51.45 % | 24.43 % | 22.92 % |
Q1 2015 | 53.36 % | 29.47 % | 26.91 % |
Q2 2015 | 54.81 % | 27.44 % | 24.67 % |
Q3 2015 | 52.02 % | 28.83 % | 25.77 % |
Q4 2015 | 51.12 % | 26.62 % | 24.44 % |
Q1 2016 | 51.39 % | 28.30 % | 24.72 % |
Q2 2016 | 51.82 % | 22.50 % | 18.06 % |
Q3 2016 | 52.60 % | 28.28 % | 26.29 % |
Q4 2016 | 49.36 % | 25.48 % | 20.92 % |
Q1 2017 | 45.86 % | 31.64 % | 27.94 % |
Q2 2017 | 39.46 % | 22.25 % | 17.64 % |
Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
---|---|---|---|---|
Q1 2008 | - | - | - | - |
Q2 2008 | - | - | - | - |
Q3 2008 | - | - | - | - |
Q4 2008 | - | - | - | - |
Q1 2009 | - | - | - | - |
Q2 2009 | - | - | - | - |
Q3 2009 | - | - | - | - |
Q4 2009 | - | - | - | - |
Q1 2010 | - | - | - | - |
Q2 2010 | - | - | - | - |
Q3 2010 | - | - | - | - |
Q4 2010 | - | - | - | - |
Q1 2011 | - | - | - | - |
Q2 2011 | - | - | - | - |
Q3 2011 | - | - | - | - |
Q4 2011 | - | - | - | - |
Q1 2012 | - | - | - | - |
Q2 2012 | - | - | - | - |
Q3 2012 | - | - | - | - |
Q4 2012 | - | - | - | - |
Q1 2013 | - | - | - | - |
Q2 2013 | - | - | - | - |
Q3 2013 | - | - | - | - |
Q4 2013 | - | - | - | - |
Q1 2014 | 92.04 | - | - | 10.70 |
Q2 2014 | 92.04 | - | - | 11.69 |
Q3 2014 | 92.04 | - | - | 12.48 |
Q4 2014 | 92.04 | 3.61 | 3.61 | 12.38 |
Q1 2015 | 92.04 | 3.88 | 3.88 | 13.50 |
Q2 2015 | 92.04 | 3.87 | 3.87 | 12.67 |
Q3 2015 | 92.04 | 4.05 | 4.05 | 13.63 |
Q4 2015 | 92.04 | 4.24 | 4.24 | 14.70 |
Q1 2016 | 92.04 | 4.23 | 4.23 | 16.39 |
Q2 2016 | 92.04 | 4.03 | 4.03 | 15.20 |
Q3 2016 | 92.04 | 4.13 | 4.13 | 16.43 |
Q4 2016 | 92.04 | 3.94 | 3.94 | 17.32 |
Q1 2017 | 92.04 | 4.00 | 4.00 | 18.46 |
Q2 2017 | 92.04 | 3.87 | 3.87 | 17.09 |
Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
---|---|---|---|---|
2007 | - | - | - | - |
2008 | - | - | - | - |
2009 | - | - | - | - |
2010 | - | - | - | - |
2011 | 92.04 | 0.39 | 0.39 | 6.03 |
2012 | 92.04 | 0.67 | 0.67 | 6.65 |
2013 | 92.04 | 1.49 | 1.49 | 9.84 |
2014 | 92.04 | 3.61 | 3.61 | 12.38 |
2015 | 92.04 | 4.24 | 4.24 | 14.70 |
2016 | 92.04 | 3.94 | 3.94 | 17.32 |
Period | P/E | Adjusted P/E | Price/book |
---|---|---|---|
Q1 2008 | - | - | - |
Q2 2008 | - | - | - |
Q3 2008 | - | - | - |
Q4 2008 | - | - | - |
Q1 2009 | - | - | - |
Q2 2009 | - | - | - |
Q3 2009 | - | - | - |
Q4 2009 | - | - | - |
Q1 2010 | - | - | - |
Q2 2010 | - | - | - |
Q3 2010 | - | - | - |
Q4 2010 | - | - | - |
Q1 2011 | - | - | - |
Q2 2011 | - | - | - |
Q3 2011 | - | - | - |
Q4 2011 | - | - | - |
Q1 2012 | - | - | - |
Q2 2012 | - | - | - |
Q3 2012 | - | - | - |
Q4 2012 | - | - | - |
Q1 2013 | - | - | - |
Q2 2013 | - | - | - |
Q3 2013 | - | - | - |
Q4 2013 | - | - | - |
Q1 2014 | - | - | - |
Q2 2014 | - | - | - |
Q3 2014 | - | - | - |
Q4 2014 | - | - | - |
Q1 2015 | - | - | - |
Q2 2015 | - | - | - |
Q3 2015 | - | - | - |
Q4 2015 | - | - | - |
Q1 2016 | 17.17 | 17.17 | 4.43 |
Q2 2016 | 17.16 | 17.16 | 4.56 |
Q3 2016 | 12.41 | 12.41 | 3.12 |
Q4 2016 | 18.62 | 18.62 | 4.23 |
Q1 2017 | 18.48 | 18.48 | 4.01 |
Q2 2017 | 19.45 | 19.45 | 4.41 |
Period | P/E | Adjusted P/E | Price/book |
---|---|---|---|
2007 | - | - | - |
2008 | - | - | - |
2009 | - | - | - |
2010 | - | - | - |
2011 | - | - | - |
2012 | - | - | - |
2013 | - | - | - |
2014 | - | - | - |
2015 | - | - | - |
2016 | 18.62 | 18.62 | 4.23 |
Q2 2017
2017
Period | Inpatient clinics | Outpatient clinics | Pharmacy Sales | Others |
---|---|---|---|---|
Q1 2014 | 207.07 | 85.01 | 64.94 | 2.16 |
Q2 2014 | 200.50 | 77.40 | 66.66 | 2.51 |
Q1 2015 | 224.99 | 91.95 | 70.24 | 4.46 |
Q2 2015 | 211.41 | 86.64 | 70.30 | 3.65 |
Q3 2015 | 200.38 | 85.53 | 63.54 | 2.76 |
Q4 2015 | 220.47 | 119.55 | 72.94 | 5.72 |
Q1 2016 | 241.22 | 100.20 | 73.04 | 7.06 |
Q2 2016 | 229.99 | 99.85 | 72.93 | 7.31 |
Q3 2016 | 224.32 | 89.88 | 62.16 | 2.72 |
Q4 2016 | 220.91 | 107.73 | 72.64 | 3.69 |
Q1 2017 | 242.80 | 104.89 | 71.94 | 4.27 |
Q2 2017 | 224.48 | 92.89 | 70.77 | 3.54 |
Period | Inpatient clinics | Outpatient clinics | Pharmacy Sales | Others |
---|---|---|---|---|
2013 | - | - | 159.08 | 1.19 |
2014 | 807.92 | 323.31 | 257.32 | 10.20 |
2015 | 857.25 | 383.67 | 277.02 | 16.59 |
2016 | 916.44 | 397.66 | 280.76 | 20.77 |
Item | Q2 2017 (e) | Q2 2017 (a) | Change |
---|---|---|---|
Average | 85.33 | 61.95 | (27.4 %) |
Item | Q2 2017 (e) | Q2 2017 (a) | Change |
---|---|---|---|
Sico | 81.00 | 61.95 | (23.5) % |
SNB Capital | 86.00 | 61.95 | (28.0) % |
Arbah Capital | 89.00 | 61.95 | (30.4) % |
Current | |
Market Cap (M Riyal) | 6,893.80 |
Enterprise Value (EV) (M) | 9,323.69 |
Shares Outstanding ((M)) | 92.04 |
EPS ( Riyal) (TTM) | 2.20 |
Book Value (BV) ( Riyal) | 17.78 |
Par Value ( Riyal) | 10.00 |
Adjusted P/E (Last12) | 37.56 |
P/E (TTM) | 33.97 |
Price/book | 4.21 |
Return on Average Assets (%) (TTM) | 4.0 |
Return on Average Equity (%) (TTM) | 13.1 |
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