Fakeeh Care profit slightly up to SAR 72.7M in Q1 2024

03/07/2024 Argaam Exclusive

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Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care)) posted a net profit of SAR 72.7 million for Q1 2024, slightly up from SAR 72 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Revenues	529.41	680.33	28.5 %
Gross Income	144.40	188.58	30.6 %
Operating Income	78.44	103.15	31.5 %
Net Income	72.04	72.72	1.0 %
Average Shares	200.00	200.00	-
EPS (Riyals)	0.36	0.36	1.0 %

Item	Q4 2023	Q1 2024	Change‬
Revenues	662.32	680.33	2.7 %
Gross Income	182.10	188.58	3.6 %
Operating Income	79.73	103.15	29.4 %
Net Income	73.99	72.72	(1.7 %)
Average Shares	200.00	200.00	-
EPS (Riyals)	0.37	0.36	(1.7 %)

The healthcare provider reported an increase in revenue by 28.5% to SAR 680.3 million from SAR 529.4 million in Q1 2023, driven by growing patient numbers in Jeddah and Riyadh, further supported by the group's operate and manage (O&M) contract in NEOM.

Meanwhile, earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 10.7% to reach SAR 144.5 million from SAR 130.6 million in Q1 2023, reflecting strong revenue growth and optimized cost structure. EBITDA in Q1 2023 also included a one-off finance income of SAR 11.9 million from a long-term receivable balance which was settled in September 2023.

On a quarter-on-quarter basis, net earnings decreased 1.7% from SAR 73.99 million in Q4 2023 on higher financing costs and Zakat provisions.

Total shareholders' equity, after minority interest, reached SAR 1.09 billion at the end of March 2024, compared with SAR 1.96 billion a year before.

Attached Document:

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	1,715.43	-	442.37	-	280.08	-
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	1,964.68	14.5 %	638.08	44.2 %	376.41	34.4 %
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	461.82	-	132.35	-	97.21	-
Q4 2022	540.37	-	176.32	-	97.59	-
2022	2,012.39	2.4 %	612.25	(4.0 %)	369.69	(1.8 %)
Q1 2023	529.41	-	144.40	-	78.44	-
Q2 2023	545.67	-	126.18	-	58.59	-
Q3 2023	589.29	27.6 %	173.37	31.0 %	96.08	(1.2 %)
Q4 2023	662.32	22.6 %	182.10	3.3 %	79.73	(18.3 %)
2023	2,326.69	15.6 %	616.68	0.7 %	312.84	(15.4 %)
Q1 2024	680.33	28.5 %	188.58	30.6 %	103.15	31.5 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	1,715.43	-	442.37	-	280.08	-
2021	1,964.68	14.5 %	638.08	44.2 %	376.41	34.4 %
2022	2,012.39	2.4 %	612.25	(4.0 %)	369.69	(1.8 %)
2023	2,326.69	15.6 %	616.68	0.7 %	312.84	(15.4 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	203.18	-	1.02	-	203.18	1.02
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	334.28	64.5 %	1.67	-	334.28	1.67
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	69.48	-	0.35	-	69.48	0.35
Q4 2022	104.91	-	0.52	-	104.91	0.52
2022	326.32	(2.4 %)	1.63	-	326.32	1.63
Q1 2023	72.04	-	0.36	11.92	60.12	0.30
Q2 2023	53.92	-	0.27	12.91	41.00	0.21
Q3 2023	79.65	14.6 %	0.40	13.38	66.27	0.33
Q4 2023	73.99	(29.5 %)	0.37	-	73.99	0.37
2023	279.59	(14.3 %)	1.40	38.21	241.39	1.21
Q1 2024	72.72	1.0 %	0.36	-	72.72	0.36

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	203.18	-	1.02	-	203.18	1.02
2021	334.28	64.5 %	1.67	-	334.28	1.67
2022	326.32	(2.4 %)	1.63	-	326.32	1.63
2023	279.59	(14.3 %)	1.40	38.21	241.39	1.21

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	25.79 %	22.38 %	11.84 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	32.48 %	24.51 %	17.01 %
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
2022	30.42 %	23.81 %	16.22 %
Q1 2023	-	-	-
Q2 2023	27.88 %	21.28 %	13.26 %
Q3 2023	28.13 %	21.76 %	12.35 %
Q4 2023	26.91 %	19.87 %	10.37 %
2023	26.50 %	19.87 %	10.37 %
Q1 2024	27.05 %	19.78 %	10.25 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	25.79 %	22.38 %	11.84 %
2021	32.48 %	24.51 %	17.01 %
2022	30.42 %	23.81 %	16.22 %
2023	26.50 %	19.87 %	10.37 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	28.66 %	-	15.04 %
Q4 2022	32.63 %	25.34 %	19.41 %
Q1 2023	27.28 %	21.33 %	11.36 %
Q2 2023	23.12 %	17.41 %	7.51 %
Q3 2023	29.42 %	22.87 %	11.25 %
Q4 2023	27.49 %	18.05 %	11.17 %
Q1 2024	27.72 %	20.67 %	10.69 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	-	-	-	-
Q2 2020	-	-	-	-
Q3 2020	-	-	-	-
Q4 2020	-	-	-	-
Q1 2021	-	-	-	-
Q2 2021	-	-	-	-
Q3 2021	-	-	-	-
Q4 2021	-	-	-	-
Q1 2022	-	-	-	-
Q2 2022	-	-	-	-
Q3 2022	200.00	-	-	9.00
Q4 2022	200.00	-	-	9.49
Q1 2023	200.00	-	-	9.85
Q2 2023	200.00	1.50	1.38	9.87
Q3 2023	200.00	1.55	1.36	4.77
Q4 2023	200.00	1.40	1.21	5.10
Q1 2024	200.00	1.40	1.27	5.46

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	-	-	-	-
2020	200.00	1.02	1.02	6.54
2021	200.00	1.67	1.67	8.07
2022	200.00	1.63	1.63	9.49
2023	200.00	1.40	1.21	5.10

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
Q1 2023	-	-	-
Q2 2023	-	-	-
Q3 2023	-	-	-
Q4 2023	-	-	-
Q1 2024	-	-	-

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

Business Segments (Million)

Compared With The

Period	Medical Services	Education	Trade, retail and others
Q4 2022	503.17	21.68	15.52
Q1 2023	487.77	22.33	19.31
Q2 2023	510.24	22.95	12.49
Q3 2023	540.29	26.06	22.94
Q4 2023	623.18	22.83	16.32
Q1 2024	635.99	26.25	18.09

Period	Medical Services	Education	Trade, retail and others
2022	1,861.19	87.69	63.51
2023	2,161.47	94.17	71.05

Financial Ratios

	Current
Market Cap (M Riyal)	13,664.80
Enterprise Value (EV) (M)	13,808.12
Shares Outstanding ((M))	232.00
EPS ( Riyal) (TTM)	1.24
Book Value (BV) ( Riyal)	12.45
Par Value ( Riyal)	1.00
Adjusted P/E (Last12)	47.49
P/E (TTM)	47.49
Price/book	4.73
Return on Average Assets (%) (TTM)	6.2
Return on Average Equity (%) (TTM)	15.0

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (FAKEEH CARE)

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Fakeeh Care profit slightly up to SAR 72.7M in Q1 2024

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Current Quarter 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)

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q1

Financial Ratios

Share Price

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (FAKEEH CARE)

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Fakeeh Care profit slightly up to SAR 72.7M in Q1 2024

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Current Quarter 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)

Business Segments (Million) Q1 2024

Revenue by Business Segment (Latest) 2024 Q1

Financial Ratios

Share Price

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (FAKEEH CARE)

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Business Segments (Million)