Financial Results : Miral H1 2024 net profit up 8% to SAR 6.5M

Miral H1 2024 net profit up 8% to SAR 6.5M

27/08/2024 Argaam Exclusive

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Miral Dental Clinics Co. posted SAR 6.5 million in net profit for H1 2024, a rise of 8% from SAR 6.1 million a year ago.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 30.70 33.98 10.7 %
Gross Income 11.24 12.15 8.0 %
Operating Income 6.77 8.00 18.2 %
Net Income 6.06 6.54 7.9 %
Average Shares 2.00 2.00 -
EPS (Riyals) 3.03 3.27 7.9 %


Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 30.70 33.98 10.7 %
Gross Income 11.24 12.15 8.0 %
Operating Income 6.77 8.00 18.2 %
Net Income 6.06 6.54 7.9 %
Average Shares 2.00 2.00 -
EPS (Riyals) 3.03 3.27 7.9 %

The annual profit growth was driven by the 11% year-on-year (YoY) revenue hike to SAR 3.28 million on the expanded number of clinics in the Al-Malqa branch and the higher doctor count at the main branches of Al-Tahlia and Al-Malqa districts.

 

Shareholders' equity (no minority interest) climbed to SAR 49.42 million, compared to SAR 36.65 million in H1 2023.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2022

26.52

5.27

2.64

H2 2022

31.94

5.97

2.98

H1 2023

30.70

6.06

3.03

H2 2023

34.67

5.91

2.95

H1 2024

33.97

6.54

3.27
 

 

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 30.70 - 11.24 - 6.77 -
H2 2023 34.67 - 12.95 - 6.40 -
H1 2024 33.98 10.7 % 12.15 8.0 % 8.00 18.2 %


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 - - - - - -
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 6.06 - 3.03 - 6.06 3.03
H2 2023 5.91 - 2.95 - 5.91 2.95
H1 2024 6.54 7.9 % 3.27 (1.14) 7.68 3.84

Profitability

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 - - -
H2 2023 37.01 % 26.83 % 18.31 %
H1 2024 36.56 % 27.79 % 19.79 %


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 2.00 - - 17.94
H2 2023 2.00 5.99 5.99 20.92
H1 2024 2.00 6.22 6.79 24.71

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 16.07 14.72 4.05

Business Segments (Million)

Compared With The
Period Revenue from providing dental services Revenue from individuals Revenue from insurance companies
Q2 2022 - 21.15 5.36
Q4 2022 - 10.76 15.46
Q2 2023 30.70 - -


Financial Ratios
Current
Market Cap (M Riyal) 185.00
Enterprise Value (EV) (M) 159.56
Shares Outstanding ((M)) 2.00
Book Value (BV) ( Riyal) 20.92
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 15.46
Price/book 4.42
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Share Price

Miral Dental Clinics Co.
92.50
1.50 1.65 %

Miral Dental Clinics Co. (MIRAL)

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