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Aldawaa net profit up 8% to SAR 329.2M in 2023, Q4 at SAR 92.4M
18/03/2024
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Aldawaa Medical Services Co. reported a net profit of SAR 329.2 million for 2023, an increase of 8% from SAR 305.4 million a year earlier.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 5,372.24 | 5,741.36 | 6.9 % |
| Gross Income | 2,019.60 | 2,106.62 | 4.3 % |
| Operating Income | 374.35 | 479.39 | 28.1 % |
| Net Income | 305.45 | 329.22 | 7.8 % |
| Average Shares | 85.00 | 85.00 | - |
| Earnings Per Share before unusual items | 2.90 | 3.87 | 33.7 % |
| EPS (Riyals) | 3.59 | 3.87 | 7.8 % |
This was propelled by the company’s positive sales momentum, which led to a year-on-year (YoY) rise of 4.3%, or SAR 87 million, in gross profit, in addition to its effective asset management and cost control. It also cited a 24.2% YoY hike in operating profit.
Q4 2023 net profit rose 3% YoY to SAR 92.4 million, from SAR 89.51 million in the prior-year period.
On a quarterly basis, net profit grew 29.6% from SAR 71.28 million.
Current Quarter Comparison (M)
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 1,458.30 | 1,458.09 | 0.0 % |
| Gross Income | 533.69 | 525.09 | (1.6 %) |
| Operating Income | 130.39 | 140.39 | 7.7 % |
| Net Income | 89.51 | 92.35 | 3.2 % |
| Average Shares | 85.00 | 85.00 | - |
| Earnings Per Share before unusual items | 0.96 | 1.09 | 12.9 % |
| EPS (Riyals) | 1.05 | 1.09 | 3.2 % |
Total shareholders’ equity, no minority interest, stood at SAR 1.31 billion by Dec. 31, 2023, compared to SAR 1.09 billion a year earlier.
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Share Price
Aldawaa Medical Services Co. (ALDAWAA)
| Current | |
| Market Cap (M Riyal) | 5,924.50 |
| Enterprise Value (EV) (M) | 6,482.97 |
| Shares Outstanding ((M)) | 85.00 |
| EPS ( Riyal) (TTM) | 4.22 |
| Book Value (BV) ( Riyal) | 16.65 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 16.52 |
| P/E (TTM) | 16.52 |
| Price/book | 4.19 |
| Return on Average Assets (%) (TTM) | 7.5 |
| Return on Average Equity (%) (TTM) | 12.0 |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | Earnings Per Share before unusual items |
|---|---|---|---|---|---|---|
| Q1 2023 | 76.25 | (12.5 %) | 0.90 | - | 76.25 | 0.90 |
| Q2 2023 | 89.33 | 10.7 % | 1.05 | - | 89.33 | 1.05 |
| Q3 2023 | 71.28 | 48.0 % | 0.84 | - | 71.28 | 0.84 |
| Q4 2023 | 92.35 | 3.2 % | 1.09 | - | 92.35 | 1.09 |
| 2023 | 329.22 | 7.8 % | 3.87 | - | 329.22 | 3.87 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2023 | 1,407.59 | 8.7 % | 534.98 | 8.3 % | 116.00 | 64.0 % |
| Q2 2023 | 1,436.74 | 9.7 % | 525.64 | 3.7 % | 126.29 | 39.5 % |
| Q3 2023 | 1,438.95 | 9.9 % | 520.91 | 7.4 % | 104.60 | 26.5 % |
| Q4 2023 | 1,458.09 | 0.0 % | 525.09 | (1.6 %) | 140.39 | 7.7 % |
| 2023 | 5,741.36 | 6.9 % | 2,106.62 | 4.3 % | 479.39 | 28.1 % |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2023 | 37.56 % | 13.96 % | 4.99 % |
| Q2 2023 | 37.05 % | 14.35 % | 5.29 % |
| Q3 2023 | 36.84 % | 14.47 % | 5.55 % |
| Q4 2023 | 36.69 % | 14.82 % | 5.73 % |
| 2023 | 36.69 % | 14.69 % | 5.73 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2023 | 85.00 | 3.47 | 3.22 | 12.67 |
| Q2 2023 | 85.00 | 3.57 | 3.49 | 14.74 |
| Q3 2023 | 85.00 | 3.84 | 3.75 | 14.17 |
| Q4 2023 | 85.00 | 3.87 | 3.87 | 15.45 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2023 | 23.08 | 24.87 | 6.31 |
| Q2 2023 | 27.61 | 28.23 | 6.68 |
| Q3 2023 | 24.77 | 25.37 | 6.71 |
| Q4 2023 | 27.32 | 27.32 | 6.85 |
Business Segments (Million)
Q4 2023
| Period | Retail Sales | Wholesale | Logistic Services |
|---|---|---|---|
| Q1 2023 | 1,341.18 | 66.41 | - |
| Q2 2023 | 1,366.98 | 69.76 | - |
| Q3 2023 | 1,352.17 | 86.77 | - |
| Q4 2023 | 1,382.63 | 58.37 | 17.09 |
Analysts Estimates (Million)
| Item | Q4 2023 (e) | Q4 2023 (a) | Change |
|---|---|---|---|
| Average | 95.85 | 92.35 | (3.7 %) |
Estimates vs Actual (Million)
| Item | Q4 2023 (e) | Q4 2023 (a) | Change |
|---|---|---|---|
| Riyad Capital | 94.00 | 92.35 | (1.8) % |
| SNB Capital | 97.70 | 92.35 | (5.5) % |
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