Aldawaa’s H1 2022 profit up 27% to SAR 167.8 mln, Q2 at SAR 80.7 mln

23/08/2022 Argaam Exclusive

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Aldawaa Medical Services Co. (DMSCO) recorded a 27% increase in H1 2022 net profit after Zakat and tax to SAR 167.8 million, from SAR 131.8 million a year earlier.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	2,476.48	2,605.01	5.2 %
Gross Income	909.93	1,000.97	10.0 %
Operating Income	141.26	161.27	14.2 %
Net Income	131.78	167.78	27.3 %
Average Shares	85.00	85.00	-
EPS (Riyals)	1.55	1.97	27.3 %

The company reported an increase of 5.19% year-on-year YoY), or SAR 128.5 million in revenue during the first half of 2022.

The first-half gross profit rose 10% YoY to SAR 1.001 billion, implying a margin of 38.4%.

Operating profit grew by 14.16% YoY to SAR 161 million, accounting for 6.2% from net sales.

In Q2 2022, net profit after Zakat and tax leapt 52% to SAR 80.7 million, from SAR 52.9 million a year earlier, as revenue rose by 3.4% YoY. Gross and operating profit increased by 10.7% and 35.3% YoY, respectively in the three-month period.

The company’s net profit dropped 7.4% from SAR 87.11 million on a sequential basis, hut by a decrease in the fair value gain on swap derivatives liabilities compared to Q1 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2021	Q2 2022	Change‬
Revenues	1,266.77	1,310.19	3.4 %
Gross Income	457.98	506.79	10.7 %
Operating Income	66.91	90.55	35.3 %
Net Income	52.94	80.67	52.4 %
Average Shares	85.00	85.00	-
EPS (Riyals)	0.62	0.95	52.4 %

Item	Q1 2022	Q2 2022	Change‬
Revenues	1,294.82	1,310.19	1.2 %
Gross Income	494.18	506.79	2.6 %
Operating Income	70.71	90.55	28.1 %
Net Income	87.11	80.67	(7.4 %)
Average Shares	85.00	85.00	-
EPS (Riyals)	1.02	0.95	(7.4 %)

Shareholders’ equity, after minority interest, dropped to SAR 1.086 billion by the end of H1 2022, from SAR 1.253 billion a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2013	-	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-	-
2013	-	-	-	-	-	-	-
Q1 2014	-	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-	-
2014	-	-	-	-	-	-	-
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	3,375.63	-	1,310.98	-	120.90	-	1.51
Q1 2018	-	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-	-
2018	3,797.20	12.5 %	1,478.68	12.8 %	228.33	88.9 %	2.86
Q1 2019	-	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-	-
2019	3,962.43	4.4 %	1,586.96	7.3 %	233.20	2.1 %	2.92
Q1 2020	1,176.38	-	446.33	-	23.11	-	0.29
Q2 2020	1,303.84	-	530.76	-	55.35	-	0.69
Q3 2020	-	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-	-
2020	4,962.08	25.2 %	1,881.26	18.5 %	246.44	5.7 %	3.09
Q1 2021	1,209.72	2.8 %	451.96	1.3 %	78.84	241.2 %	0.99
Q2 2021	1,266.77	(2.8 %)	457.98	(13.7 %)	52.94	(4.4 %)	0.62
Q3 2021	1,259.56	-	451.39	-	38.29	-	0.45
Q4 2021	1,298.34	-	533.08	-	69.08	-	0.81
2021	5,034.38	1.5 %	1,894.40	0.7 %	239.15	(3.0 %)	2.81
Q1 2022	1,294.82	7.0 %	494.18	9.3 %	87.11	10.5 %	1.02
Q2 2022	1,310.19	3.4 %	506.79	10.7 %	80.67	52.4 %	0.95

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2012	-	-	-	-	-	-	-
2013	-	-	-	-	-	-	-
2014	-	-	-	-	-	-	-
2015	-	-	-	-	-	-	-
2016	-	-	-	-	-	-	-
2017	3,375.63	-	1,310.98	-	120.90	-	1.51
2018	3,797.20	12.5 %	1,478.68	12.8 %	228.33	88.9 %	2.86
2019	3,962.43	4.4 %	1,586.96	7.3 %	233.20	2.1 %	2.92
2020	4,962.08	25.2 %	1,881.26	18.5 %	246.44	5.7 %	3.09
2021	5,034.38	1.5 %	1,894.40	0.7 %	239.15	(3.0 %)	2.81

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	-	-	-
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	38.84 %	14.78 %	3.55 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	38.94 %	15.71 %	6.16 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	40.05 %	15.25 %	6.28 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	37.91 %	14.07 %	6.88 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	37.63 %	11.95 %	3.49 %
2021	37.63 %	11.95 %	3.49 %
Q1 2022	37.83 %	12.05 %	3.27 %
Q2 2022	38.46 %	12.59 %	3.61 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	38.84 %	14.78 %	3.55 %
2018	38.94 %	15.71 %	6.16 %
2019	40.05 %	15.25 %	6.28 %
2020	37.91 %	14.07 %	6.88 %
2021	37.63 %	11.95 %	3.49 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
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	37.94 %	-	6.46 %
Q2 2020	40.71 %	-	8.99 %
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	37.36 %	12.64 %	4.74 %
Q2 2021	36.15 %	11.68 %	3.72 %
Q3 2021	35.84 %	10.59 %	2.26 %
Q4 2021	41.06 %	12.90 %	3.30 %
Q1 2022	38.17 %	12.98 %	3.78 %
Q2 2022	38.68 %	13.84 %	5.05 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2013	-	-	-	-
Q2 2013	-	-	-	-
Q3 2013	-	-	-	-
Q4 2013	-	-	-	-
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
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	79.85	-	-	-
Q2 2020	79.85	-	-	-
Q3 2020	-	-	-	-
Q4 2020	-	-	-	-
Q1 2021	79.85	-	-	14.62
Q2 2021	85.00	-	-	14.74
Q3 2021	85.00	-	-	12.46
Q4 2021	85.00	2.81	2.07	11.64
Q1 2022	85.00	2.91	1.97	12.61
Q2 2022	85.00	3.24	2.19	12.78

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	-	-	-	-
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	79.85	1.51	1.50	9.29
2018	79.85	2.86	2.93	10.81
2019	79.85	2.92	3.12	12.14
2020	79.85	3.09	4.28	13.94
2021	85.00	2.81	2.07	11.64

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
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	25.59	37.84	5.91
Q2 2022	20.70	30.54	5.24

Period	P/E	Adjusted P/E	Price/book
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-

Business Segments (Million)

Compared With The

Period	Retail Sales	Wholesale
Q1 2021	1,169.76	39.96
Q2 2021	1,234.85	31.92
Q3 2021	1,224.38	35.18
Q4 2021	1,257.00	41.34
Q1 2022	1,260.57	34.25
Q2 2022	1,268.35	41.84

Period	Retail Sales	Wholesale
2020	4,795.48	166.59
2021	4,885.99	148.39

Financial Ratios

	Current
Market Cap (M Riyal)	7,352.50
Enterprise Value (EV) (M)	7,885.18
Shares Outstanding ((M))	85.00
EPS ( Riyal) (TTM)	4.10
Book Value (BV) ( Riyal)	15.28
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	21.11
P/E (TTM)	21.11
Price/book	5.66
Return on Average Assets (%) (TTM)	7.3
Return on Average Equity (%) (TTM)	29.3

Aldawaa Medical Services Co. (ALDAWAA)

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Aldawaa’s H1 2022 profit up 27% to SAR 167.8 mln, Q2 at SAR 80.7 mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2022 Q2

Financial Ratios

Share Price

Aldawaa Medical Services Co. (ALDAWAA)

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Aldawaa’s H1 2022 profit up 27% to SAR 167.8 mln, Q2 at SAR 80.7 mln

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2022

Revenue by Business Segment (Latest) 2022 Q2

Financial Ratios

Share Price

Aldawaa Medical Services Co. (ALDAWAA)

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Business Segments (Million)