Saudi German Hospital profit rises 21% to SAR 72.5 mln in 9M 2020

05/11/2020 Argaam Exclusive

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Middle East Healthcare Co. (MEAHCO), which owns and operates the Saudi German Hospital chain, reported a net profit after Zakat and tax of SAR 72.5 million in the first nine months of 2020, a 21% increase, compared to SAR 60.1 million in the year-earlier period.

The improvement was attributed to increase in revenue due to higher in-patient traffic and case mix, and lower cost of revenue.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	1,090.13	1,301.70	19.4 %
Gross Income	324.35	439.25	35.4 %
Operating Income	59.21	90.21	52.4 %
Net Income	60.10	72.45	20.6 %
Average Shares	92.04	92.04	-
EPS (Riyals)	0.65	0.79	20.6 %

The company’s net profit after Zakat and tax stood at SAR 34.9 million in Q3 2020, up 5% year-on-year (YoY), due to higher revenue and lower cost of revenue.

On a sequential basis, Q3 net profit jumped 113.5%.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	386.76	492.13	27.2 %
Gross Income	119.96	171.91	43.3 %
Operating Income	33.31	42.12	26.4 %
Net Income	33.23	34.91	5.1 %
Average Shares	92.04	92.04	-
EPS (Riyals)	0.36	0.38	5.1 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	373.26	492.13	31.8 %
Gross Income	120.49	171.91	42.7 %
Operating Income	23.73	42.12	77.5 %
Net Income	16.35	34.91	113.5 %
Average Shares	92.04	92.04	-
EPS (Riyals)	0.18	0.38	113.5 %

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