Overview of Aldawaa's financials, operating segments in Q3 2023

Logo of Aldawaa Medical Services Co.

Aldawaa Medical Services Co.'s operating income rose by 39% year-on-year (YoY) to SAR 339 million in the nine-month period ended Sept. 30, 2023, driven mainly by sales growth, in addition to continued control of selling and distribution expenses.

The company's nine-month sales amounted to SAR 4.2 billion, a YoY increase of about 9.4%, thanks to the rise in seasonal sales activities and strong campaigns as well as effective multi-channel operations.

Gross profit climbed by 6.4% YoY to SAR 1.58 billion during the same period, backed by sales growth. On the other hand, operating expenses (OpEx) dropped to SAR 1.146 billion in the current nine-month period, compared to SAR 1.147 billion in the first nine months of 2022.

Aldawaa also posted SAR 236.9 million in net profit for the first nine months of 2023, up 9.7% YoY. Meanwhile, net profit rose 44% YoY when excluding earnings from derivatives contracts in the same period last year.

Operating income came in at SAR 102 million in Q3 2023, a rise of 23.3% from SAR 82.7 million in Q3 2022, amid the growth in sales.

The company’s sales surged by nearly 10% YoY to SAR 1.43 billion during the three-month period.

Gross profit jumped by 7.4% to SAR 521 million in Q3 2023 from SAR 485 million in the same period last year, spurred by sales growth.

The medical services provider also posted SAR 71.3 million in net profit for Q3 2023, up 48% YoY.

Additional Information

Shareholders' equity amounted to SAR 1.20 billion in the third quarter of this year, compared to SAR 1.02 billion in Q3 2022.

Cash flow from operating activities (CFO) amounted to SAR 587.8 million in Q3 2023, soaring 13.5% from SAR 517.3 million.

Short- and long-term loans amounted to SAR 831 million in Q3 2023, down SAR 342.5 million from SAR 1.17 billion in Q3 2022. This came despite the SAR 212.5 million cash dividends paid by the company to shareholders during Q3 2023.