Jana Medical narrows losses to SAR 3.3M in H1 2024

20/10/2024 Argaam Exclusive

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Jana Medical Co., on track to list on Nomu-Parallel Market, narrowed its net losses to SAR 3.3 million in the first six months of 2024, compared to SAR 3.8 million a year earlier.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	21.45	24.43	13.9 %
Gross Income	8.09	10.13	25.2 %
Operating Income	(2.87)	0.57	119.9 %
Net Income	(3.85)	(3.35)	13.0 %
Average Shares	2.57	2.57	-
EPS (Riyals)	(1.50)	(1.30)	13.0 %

This came as the first-half revenues grew to SAR 24.4 million, from SAR 21.4 million for the same period last year.

The gross profit margin also rose from 38% in H1 2023 to 41% in H1 2024, along with a decrease in the ratio of cost of sales (COGS) to total revenue to 59%.

Besides, Jana Medical saw a decrease in the expected credit loss provision for the current period to SAR 3.7 million, compared to SAR 5.7 million in the first half of 2023.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) for H1 2024 amounted to SAR 758,000, against a loss of SAR 2.7 million in H1 2023.

On the other hand, financing costs increased to SAR 4.1 million in H1 2024, compared to SAR 894,500 in the year before.

Jana Medical’s top line is represented in sales of consumables, medical supplies and equipment. Its products are solely sold across Saudi Arabia through the company's branches nationwide.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	21.45	24.43	13.9 %
Gross Income	8.09	10.13	25.2 %
Operating Income	(2.87)	0.57	119.9 %
Net Income	(3.85)	(3.35)	13.0 %
Average Shares	2.57	2.57	-
EPS (Riyals)	(1.50)	(1.30)	13.0 %

Item	H2 2023	H1 2024	Change‬
Revenues	39.91	24.43	(38.8 %)
Gross Income	17.70	10.13	(42.8 %)
Operating Income	15.54	0.57	(96.3 %)
Net Income	9.26	(3.35)	(136.1 %)
Average Shares	2.57	2.57	-
EPS (Riyals)	3.60	(1.30)	(136.1 %)

Total shareholders’ equity, no minority interest, stood at SAR 32.91 million as of June 30, 2024, compared to SAR 26.76 million a year earlier.

In 2023, Jana Medical’s extraordinary general meeting (EGM) approved the board’s proposal to transform from a closed joint-stock company to a public joint-stock firm, besides floating all of the share capital on Nomu.

Besides, raising the issued capital from SAR 25.7 million to SAR 32.12 million has been greenlit, by way of cash shares that will be offered for public subscription in Nomu.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	-	-	-	-	-	-
H1 2021	-	-	-	-	-	-
H2 2021	-	-	-	-	-	-
2021	-	-	-	-	-	-
H1 2022	-	-	-	-	-	-
H2 2022	-	-	-	-	-	-
2022	43.05	-	16.97	-	7.74	-
H1 2023	21.45	-	8.09	-	(2.87)	-
H2 2023	39.91	-	17.70	-	15.54	-
2023	61.36	42.5 %	25.79	52.0 %	12.67	63.8 %
H1 2024	24.43	13.9 %	10.13	25.2 %	0.57	119.9 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	-	-	-	-	-	-
2021	-	-	-	-	-	-
2022	43.05	-	16.97	-	7.74	-
2023	61.36	42.5 %	25.79	52.0 %	12.67	63.8 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	-	-	-	-	-	-
H1 2021	-	-	-	-	-	-
H2 2021	-	-	-	-	-	-
2021	-	-	-	-	-	-
H1 2022	-	-	-	-	-	-
H2 2022	-	-	-	-	-	-
2022	5.22	-	2.03	-	5.22	2.03
H1 2023	(3.85)	-	(1.50)	-	(3.85)	(1.50)
H2 2023	9.26	-	3.60	-	9.26	3.60
2023	5.41	3.7 %	2.11	-	5.41	2.11
H1 2024	(3.35)	13.0 %	(1.30)	-	(3.35)	(1.30)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	-	-	-	-	-	-
2021	-	-	-	-	-	-
2022	5.22	-	2.03	-	5.22	2.03
2023	5.41	3.7 %	2.11	-	5.41	2.11

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
2020	-	-	-
H1 2021	-	-	-
H2 2021	-	-	-
2021	-	-	-
H1 2022	-	-	-
H2 2022	-	-	-
2022	39.42 %	18.49 %	12.14 %
H1 2023	-	-	-
H2 2023	42.03 %	21.28 %	8.82 %
2023	42.03 %	21.28 %	8.82 %
H1 2024	43.25 %	25.65 %	9.19 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	39.42 %	18.49 %	12.14 %
2023	42.03 %	21.28 %	8.82 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
H1 2021	-	-	-
H2 2021	-	-	-
H1 2022	-	-	-
H2 2022	-	-	-
H1 2023	37.72 %	(12.51 %)	(17.93 %)
H2 2023	44.35 %	39.45 %	23.21 %
H1 2024	41.46 %	3.10 %	(13.70 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
H1 2015	-	-	-	-
H2 2015	-	-	-	-
H1 2016	-	-	-	-
H2 2016	-	-	-	-
H1 2017	-	-	-	-
H2 2017	-	-	-	-
H1 2018	-	-	-	-
H2 2018	-	-	-	-
H1 2019	-	-	-	-
H2 2019	-	-	-	-
H1 2020	-	-	-	-
H2 2020	-	-	-	-
H1 2021	-	-	-	-
H2 2021	-	-	-	-
H1 2022	-	-	-	-
H2 2022	-	-	-	-
H1 2023	2.57	-	-	10.41
H2 2023	2.57	2.11	2.11	14.11
H1 2024	2.57	2.30	2.30	12.81

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	-	-	-	-
2020	-	-	-	-
2021	-	-	-	-
2022	2.57	2.03	2.03	11.91
2023	2.57	2.11	2.11	14.11

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
H1 2021	-	-	-
H2 2021	-	-	-
H1 2022	-	-	-
H2 2022	-	-	-
H1 2023	-	-	-
H2 2023	-	-	-
H1 2024	-	-	-

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	-	-	-
2023	-	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	135.78
Enterprise Value (EV) (M)	162.18
Shares Outstanding ((M))	3.21
Book Value (BV) ( Riyal)	14.11
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	25.08
Price/book	3.74

Jana Medical Co. (JANA)

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Jana Medical narrows losses to SAR 3.3M in H1 2024

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Financial Ratios

Share Price

Jana Medical Co. (JANA)

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