Nahdi 2021 net profit down 4% to SAR 812.5 mln; Q4 at SAR 143.2 mln
Nahdi Medical Co. reported a net profit after Zakat and tax of SAR 812.5 million in 2021, a decline of 4% from SAR 849.1 million a year earlier.
The company attributed the decline in net profit to a drop of 6.7% year-on-year (YoY) in revenue to SAR 8.06 billion.
Meanwhile, the impact of lower was partially offset by the favorable product mix and reversal of inventory provision for COVID-19 related items. Additionally, the annual profit was positively impacted by one-off non-recurring items of SAR 60 million related to the reversal of provision for operated pharmacies, other provisions and adjustment to IFRS-15 for Loyalty accruals.
Financials (M)
Item | 2020 | 2021 | Change |
---|---|---|---|
Revenues | 8,642.21 | 8,066.22 | (6.7 %) |
Gross Income | 3,249.67 | 3,304.68 | 1.7 % |
Operating Income | 925.09 | 847.88 | (8.3 %) |
Net Income | 849.12 | 812.53 | (4.3 %) |
Average Shares | 130.00 | 130.00 | - |
EPS (Riyals) | 6.53 | 6.25 | (4.3 %) |
In Q4 2021, net profit after Zakat and tax declined by 14% YoY to SAR 143.2 million.
When compared to the previous quarter, net profit fell by 42.1% from SAR 247.45 million.
Current Quarter Comparison (M)
Item | Q4 2020 | Q4 2021 | Change |
---|---|---|---|
Revenues | 1,986.14 | 1,973.23 | (0.7 %) |
Gross Income | 765.27 | 807.21 | 5.5 % |
Operating Income | 183.65 | 99.44 | (45.9 %) |
Net Income | 166.81 | 143.23 | (14.1 %) |
Average Shares | 130.00 | 130.00 | - |
EPS (Riyals) | 1.28 | 1.10 | (14.1 %) |
Shareholders’ equity, after minority interest, dropped to SAR 1.603 billion as of Dec. 31, 2021, from SAR 2.078 billion a year earlier.
Accumulated losses stood at SAR 200.4 million in 2021, accounting for 16% of the company’s capital.
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Share Price
Nahdi Medical Co. (NAHDI)
Current | |
Market Cap (M Riyal) | 15,496.00 |
Enterprise Value (EV) (M) | 14,748.35 |
Shares Outstanding ((M)) | 130.00 |
EPS ( Riyal) (TTM) | 6.41 |
Book Value (BV) ( Riyal) | 18.53 |
Par Value ( Riyal) | 10.00 |
Adjusted P/E (Last12) | 19.35 |
P/E (TTM) | 18.59 |
Price/book | 6.43 |
Return on Average Assets (%) (TTM) | 15.1 |
Return on Average Equity (%) (TTM) | 35.6 |
Financial results (Million)
Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
---|---|---|---|---|---|---|
Q1 2021 | 1,981.11 | (5.5 %) | 779.71 | 2.7 % | 224.35 | (31.5 %) |
Q2 2021 | 2,070.14 | (14.6 %) | 859.97 | (9.2 %) | 255.14 | (15.3 %) |
Q3 2021 | 2,041.74 | (4.4 %) | 857.80 | 10.2 % | 268.95 | 139.2 % |
Q4 2021 | 1,973.23 | (0.7 %) | 807.21 | 5.5 % | 99.44 | (45.9 %) |
2021 | 8,066.22 | (6.7 %) | 3,304.68 | 1.7 % | 847.88 | (8.3 %) |
Profit Performance (Million)
Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
---|---|---|---|---|---|---|
Q1 2021 | 195.02 | (38.2 %) | 1.50 | - | 195.02 | 1.50 |
Q2 2021 | 226.83 | (15.6 %) | 1.74 | - | 226.83 | 1.74 |
Q3 2021 | 247.45 | 153.0 % | 1.90 | - | 247.45 | 1.90 |
Q4 2021 | 143.23 | (14.1 %) | 1.10 | 6.70 | 136.54 | 1.05 |
2021 | 812.53 | (4.3 %) | 6.25 | 6.70 | 805.83 | 6.20 |
Profitability
Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
---|---|---|---|
Q1 2021 | 38.35 % | 14.17 % | 8.33 % |
Q2 2021 | 38.95 % | 15.99 % | 8.18 % |
Q3 2021 | 40.38 % | 18.24 % | 10.13 % |
Q4 2021 | 40.97 % | 17.60 % | 9.99 % |
2021 | 40.97 % | 17.60 % | 9.99 % |
Per Share Data (Riyal)
Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
---|---|---|---|---|
Q1 2021 | 130.00 | 5.60 | 5.46 | 17.49 |
Q2 2021 | 130.00 | 5.28 | 5.14 | 15.54 |
Q3 2021 | 130.00 | 6.43 | 6.29 | 11.26 |
Q4 2021 | 130.00 | 6.25 | 6.20 | 12.34 |
Multiple Ratios (End of Period Price)
Period | P/E | Adjusted P/E | Price/book |
---|---|---|---|
Q1 2021 | - | - | - |
Q2 2021 | - | - | - |
Q3 2021 | - | - | - |
Q4 2021 | - | - | - |
Business Segments (Million)
Q4 2021
Period | Front Shop | Pharma | Other |
---|---|---|---|
Q1 2021 | 1,065.84 | 913.56 | 1.71 |
Q2 2021 | 1,135.41 | 924.12 | 10.61 |
Q3 2021 | 1,081.26 | 950.21 | 10.27 |
Q4 2021 | 1,016.84 | 944.85 | 11.54 |
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