SPIMACO turns to SAR 24.5M profits in 2024, loses SAR 36.2M in Q4

27/03/2025 Argaam Exclusive

Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) reported a net profit of SAR 24.5 million for 2024, against a net loss of SAR 50.7 million a year earlier.



Financials (Million Riyal)

Item 2023 2024 Change‬
Revenues 1,655.44 1,682.00 1.6 %
Gross Income 703.13 837.03 19.0 %
Operating Income 1.17 119.19 10113.1 %
Net Income (50.73) 24.54 148.4 %
Average Shares 120.00 120.00 -
Earnings Per Share before unusual items (Riyals) (0.57) 0.00 100.8 %
EPS (Riyal) (0.42) 0.20 148.4 %

The company’s return to profit-making came as the topline advanced by 1.6% year-on-year (YoY) to SAR 26.56 million by 2024-end, driven by higher sales from the private-sector segment.

 

The 12-month gross profit also climbed YoY by 19.04% to SAR 837 million. This followed the discontinuation of low-margin contracts, reflecting improved operating efficiency. The gross profit margin expanded to 49.76% in 2024, from 42.47% in 2023.

 

Furthermore, selling, marketing, general and administrative expenses fell 2.22% to SAR 604.4 million in 2024, versus SAR 618 million in 2023, thanks to tighter cost controls and the elevated operating efficiency.

 

Operating profits, in addition, jumped to SAR 137.46 million by the end of 2024, from SAR 52.15 million in the year before. This was supported by strong gross income and lower operating expenses on cost management.

 

The Q4 2024 net loss narrowed to SAR 36.2 million, from SAR 64.33 million in the year-earlier period.

 

On a sequential basis, however, the three-month net losses widened from SAR 8.03 million in Q3 2024.



Current Quarter Comparison (Million Riyal)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 334.52 385.24 15.2 %
Gross Income 95.67 194.09 102.9 %
Operating Income (107.44) 7.18 106.7 %
Net Income (64.33) (16.86) 73.8 %
Average Shares 120.00 120.00 -
Earnings Per Share before unusual items (Riyal) (0.89) (0.28) 68.2 %
EPS (Riyal) (0.54) (0.14) 73.8 %

Total shareholders’ equity, after minority interest, stood at SAR 1.378 billion by Dec. 31, 2024, inching up from SAR 1.375 billion a year ago.

 

Accumulated losses amounted to SAR 120.27 million by the end of 2024, representing 10.02% of SPIMACO’s capital.

 

Attached Documents:

 

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Share Price

Saudi Pharmaceutical Industries and Medical Appliances Corp.
24.80
(0.19) (0.76 %)

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Financial Ratios
Current
Market Cap (M Riyal) 2,976.00
Enterprise Value (EV) (M Riyal) 4,253.51
Shares Outstanding ((M)) 120.00
Recurring EPS ( Riyal) (TTM) 1.35
Book Value (BV) ( Riyal) 13.65
Par Value ( Riyal) 10.00
Recurring P/E (TTM) 18.37
P/E (TTM) 21.41
Price/book 1.82
Dividend Yield (%) (Last Year) 1.41
Return on Average Assets (%) (TTM) 3.1
Return on Average Equity (%) (TTM) 8.7
EV/adj EBITDA 12.49
EV/Revenues 2.49
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Financial results (Million Riyal)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2003 112.37 - 46.81 - 19.91 -
Q2 2003 130.72 - 39.94 - 7.01 -
Q3 2003 140.51 - 34.88 - 6.59 -
Q4 2003 172.32 - 52.86 - 1.25 -
Q1 2004 170.56 51.8 % 58.50 25.0 % 23.69 19.0 %
Q2 2004 139.75 6.9 % 55.03 37.8 % 17.09 143.9 %
Q3 2004 120.00 (14.6 %) 43.24 24.0 % 12.98 97.1 %
Q4 2004 152.19 (11.7 %) 57.92 9.6 % 8.49 579.4 %
Q1 2005 166.00 (2.7 %) 74.42 27.2 % 34.55 45.8 %
Q2 2005 152.77 9.3 % 59.58 8.3 % 20.33 19.0 %
Q3 2005 141.13 17.6 % 58.99 36.4 % 22.00 69.5 %
Q4 2005 189.00 24.2 % 78.09 34.8 % 25.02 194.6 %
Q1 2006 194.37 17.1 % 91.95 23.6 % 37.75 9.3 %
Q2 2006 185.74 21.6 % 71.43 19.9 % 24.97 22.8 %
Q3 2006 156.57 10.9 % 64.50 9.4 % 23.63 7.4 %
Q4 2006 191.16 1.1 % 80.54 3.1 % 21.73 (13.1 %)
Q1 2007 203.37 4.6 % 91.01 (1.0 %) 40.00 6.0 %
Q2 2007 209.28 12.7 % 66.46 (7.0 %) 3.13 (87.5 %)
Q3 2007 149.40 (4.6 %) 66.84 3.6 % 24.13 2.1 %
Q4 2007 235.70 23.3 % 102.31 27.0 % 30.48 40.3 %
Q1 2008 220.58 8.5 % 99.57 9.4 % 41.61 4.0 %
Q2 2008 211.66 1.1 % 74.78 12.5 % 11.06 253.2 %
Q3 2008 145.45 (2.6 %) 74.34 11.2 % 21.36 (11.5 %)
Q4 2008 294.26 24.8 % 114.28 11.7 % 38.48 26.3 %
Q1 2009 257.88 16.9 % 108.57 9.0 % 46.06 10.7 %
Q2 2009 229.00 8.2 % 81.53 9.0 % 16.76 51.6 %
Q3 2009 171.15 17.7 % 72.49 (2.5 %) 18.81 (11.9 %)
Q4 2009 292.71 (0.5 %) 157.00 37.4 % 64.46 67.5 %
Q1 2010 274.33 6.4 % 118.90 9.5 % 52.94 14.9 %
Q2 2010 252.34 10.2 % 100.50 23.3 % 21.50 28.3 %
Q3 2010 191.40 11.8 % 85.88 18.5 % 20.68 9.9 %
Q4 2010 319.57 9.2 % 181.12 15.4 % 70.70 9.7 %
Q1 2011 252.08 (8.1 %) 123.51 3.9 % 49.79 (6.0 %)
Q2 2011 292.08 15.7 % 123.61 23.0 % 30.59 42.3 %
Q3 2011 209.24 9.3 % 106.76 24.3 % 33.19 60.5 %
Q4 2011 375.82 17.6 % 206.69 14.1 % 76.86 8.7 %
Q1 2012 303.14 20.3 % 153.21 24.0 % 63.10 26.7 %
Q2 2012 286.64 (1.9 %) 140.91 14.0 % 34.78 13.7 %
Q3 2012 227.40 8.7 % 113.28 6.1 % 39.61 19.3 %
Q4 2012 365.97 (2.6 %) 211.16 2.2 % 63.57 (17.3 %)
Q1 2013 361.37 19.2 % 184.62 20.5 % 70.64 11.9 %
Q2 2013 344.22 20.1 % 179.12 27.1 % 40.64 16.8 %
Q3 2013 222.91 (2.0 %) 118.64 4.7 % 35.37 (10.7 %)
Q4 2013 382.01 4.4 % 226.14 7.1 % 60.19 (5.3 %)
Q1 2014 405.21 12.1 % 206.72 12.0 % 76.05 7.7 %
Q2 2014 371.14 7.8 % 193.14 7.8 % 44.90 10.5 %
Q3 2014 266.02 19.3 % 134.45 13.3 % 31.26 (11.6 %)
Q4 2014 431.06 12.8 % 261.80 15.8 % 90.22 49.9 %
Q1 2015 432.20 6.7 % 225.86 9.3 % 91.35 20.1 %
Q2 2015 435.80 17.4 % 210.95 9.2 % 48.02 6.9 %
Q3 2015 308.27 15.9 % 131.32 (2.3 %) 24.69 (21.0 %)
Q4 2015 520.38 20.7 % 266.38 1.7 % 101.91 13.0 %
Q1 2016 322.20 (25.4 %) 194.26 (14.0 %) 53.22 (41.7 %)
Q2 2016 339.54 (22.1 %) 183.58 (13.0 %) 27.50 (42.7 %)
Q3 2016 257.21 (16.6 %) 140.54 7.0 % 9.14 (63.0 %)
Q4 2016 339.59 (34.7 %) 194.16 (27.1 %) 13.46 (86.8 %)
Q1 2017 393.10 22.0 % 212.58 9.4 % 50.03 (6.0 %)
Q2 2017 304.63 (10.3 %) 156.13 (15.0 %) 49.40 79.6 %
Q3 2017 277.62 7.9 % 128.68 (8.4 %) 8.30 (9.2 %)
Q4 2017 410.69 20.9 % 207.07 6.7 % 58.60 335.5 %
Q1 2018 390.79 (0.6 %) 197.32 (7.2 %) 67.66 35.2 %
Q2 2018 295.62 (3.0 %) 155.28 (0.5 %) 10.00 (79.8 %)
Q3 2018 224.95 (19.0 %) 137.89 7.2 % 3.59 (56.8 %)
Q4 2018 600.79 46.3 % 127.79 (38.3 %) (48.39) (182.6 %)
Q1 2019 444.80 13.8 % 152.43 (22.7 %) 16.97 (74.9 %)
Q2 2019 355.03 20.1 % 95.10 (38.8 %) (65.02) (750.4 %)
Q3 2019 342.69 52.3 % 170.82 23.9 % 46.71 1201.2 %
Q4 2019 344.32 (42.7 %) 79.28 (38.0 %) (78.77) (62.8 %)
Q1 2020 475.72 7.0 % 198.73 30.4 % 57.44 238.5 %
Q2 2020 328.14 (7.6 %) 150.49 58.2 % 12.82 119.7 %
Q3 2020 372.91 8.8 % 195.71 14.6 % 70.05 50.0 %
Q4 2020 378.52 9.9 % 145.55 83.6 % 2.91 103.7 %
Q1 2021 454.81 (4.4 %) 142.00 (28.5 %) 19.82 (65.5 %)
Q2 2021 325.96 (0.7 %) 173.50 15.3 % 29.91 133.3 %
Q3 2021 311.36 (16.5 %) 145.71 (25.5 %) 18.69 (73.3 %)
Q4 2021 367.67 (2.9 %) 159.50 9.6 % (13.76) (572.9 %)
Q1 2022 389.33 (14.4 %) 185.71 30.8 % 47.81 141.2 %
Q2 2022 310.62 (4.7 %) 120.18 (30.7 %) (45.26) (251.3 %)
Q3 2022 357.02 14.7 % 123.19 (15.5 %) (39.65) (312.1 %)
Q4 2022 364.83 (0.8 %) 137.92 (13.5 %) (70.95) (415.8 %)
Q1 2023 531.77 36.6 % 257.32 38.6 % 72.40 51.4 %
Q2 2023 408.06 31.4 % 183.85 53.0 % 27.64 161.1 %
Q3 2023 381.09 6.7 % 166.30 35.0 % 8.57 121.6 %
Q4 2023 334.52 (8.3 %) 95.67 (30.6 %) (107.44) (51.4 %)
Q1 2024 475.96 (10.5 %) 251.14 (2.4 %) 73.56 1.6 %
Q2 2024 373.50 (8.5 %) 176.13 (4.2 %) 22.49 (18.6 %)
Q3 2024 447.31 17.4 % 215.67 29.7 % 15.96 86.3 %
Q4 2024 385.24 15.2 % 194.09 102.9 % 7.18 106.7 %
2024 1,682.00 1.6 % 837.03 19.0 % 119.19 10113.1 %


Profit Performance (Million Riyal)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2003 21.38 - 0.21 - 21.38 0.21
Q2 2003 8.74 - 0.09 - 8.74 0.09
Q3 2003 7.07 - 0.07 - 7.07 0.07
Q4 2003 2.93 - 0.03 - 2.93 0.03
Q1 2004 23.45 9.7 % 0.23 - 23.45 0.23
Q2 2004 19.02 117.6 % 0.19 - 19.02 0.19
Q3 2004 13.68 93.6 % 0.13 - 13.68 0.13
Q4 2004 9.34 219.4 % 0.09 - 9.34 0.09
Q1 2005 35.38 50.9 % 0.35 - 35.38 0.35
Q2 2005 24.28 27.7 % 0.24 - 24.28 0.24
Q3 2005 20.68 51.2 % 0.20 - 20.68 0.20
Q4 2005 15.80 69.2 % 0.16 - 15.80 0.16
Q1 2006 37.65 6.4 % 0.37 - 37.65 0.37
Q2 2006 19.13 (21.2 %) 0.19 - 19.13 0.19
Q3 2006 23.80 15.1 % 0.23 - 23.80 0.23
Q4 2006 24.46 54.8 % 0.24 - 24.46 0.24
Q1 2007 39.50 4.9 % 0.39 - 39.50 0.39
Q2 2007 22.57 18.0 % 0.22 - 22.57 0.22
Q3 2007 26.53 11.4 % 0.26 - 26.53 0.26
Q4 2007 33.28 36.1 % 0.33 - 33.28 0.33
Q1 2008 40.93 3.6 % 0.40 - 40.93 0.40
Q2 2008 34.24 51.7 % 0.34 (0.45) 34.70 0.34
Q3 2008 15.62 (41.1 %) 0.15 (3.69) 19.83 0.20
Q4 2008 37.48 12.6 % 0.37 - 37.48 0.37
Q1 2009 42.69 4.3 % 0.42 (0.18) 42.87 0.42
Q2 2009 37.81 10.4 % 0.37 0.00 37.81 0.37
Q3 2009 15.84 1.4 % 0.16 0.00 15.84 0.16
Q4 2009 58.48 56.0 % 0.58 (3.12) 61.60 0.61
Q1 2010 45.32 6.2 % 0.38 (3.24) 48.56 0.40
Q2 2010 43.09 14.0 % 0.36 - 43.09 0.36
Q3 2010 18.07 14.1 % 0.15 - 18.07 0.15
Q4 2010 70.04 19.8 % 0.58 - 70.04 0.58
Q1 2011 45.71 0.9 % 0.38 - 45.71 0.38
Q2 2011 60.75 41.0 % 0.51 - 60.75 0.51
Q3 2011 29.75 64.6 % 0.25 - 29.75 0.25
Q4 2011 74.06 5.7 % 0.62 - 74.06 0.62
Q1 2012 56.45 23.5 % 0.47 - 56.45 0.47
Q2 2012 90.14 48.4 % 0.75 - 90.14 0.75
Q3 2012 32.33 8.7 % 0.27 - 32.33 0.27
Q4 2012 53.73 (27.5 %) 0.45 - 53.73 0.45
Q1 2013 63.15 11.9 % 0.53 - 63.15 0.53
Q2 2013 113.71 26.1 % 0.95 - 113.71 0.95
Q3 2013 34.19 5.8 % 0.28 - 34.19 0.28
Q4 2013 57.01 6.1 % 0.48 - 57.01 0.48
Q1 2014 91.17 44.4 % 0.76 - 91.17 0.76
Q2 2014 97.72 (14.1 %) 0.81 - 97.72 0.81
Q3 2014 36.69 7.3 % 0.31 - 36.69 0.31
Q4 2014 91.29 60.1 % 0.76 - 91.29 0.76
Q1 2015 99.39 9.0 % 0.83 - 99.39 0.83
Q2 2015 237.63 143.2 % 1.98 151.31 86.32 0.72
Q3 2015 29.16 (20.5 %) 0.24 - 29.16 0.24
Q4 2015 (9.12) (110.0 %) (0.08) (118.50) 109.38 0.91
Q1 2016 88.91 (10.5 %) 0.74 15.46 73.45 0.61
Q2 2016 39.61 (83.3 %) 0.33 - 39.61 0.33
Q3 2016 4.76 (83.7 %) 0.04 - 4.76 0.04
Q4 2016 143.48 1673.8 % 1.20 189.84 (46.36) (0.39)
Q1 2017 101.22 13.8 % 0.84 46.14 55.08 0.46
Q2 2017 46.56 17.5 % 0.39 - 46.56 0.39
Q3 2017 (17.03) (457.9 %) (0.14) - (17.03) (0.14)
Q4 2017 66.61 (53.6 %) 0.56 13.40 53.21 0.44
Q1 2018 55.23 (45.4 %) 0.46 - 55.23 0.46
Q2 2018 22.67 (51.3 %) 0.19 - 22.67 0.19
Q3 2018 (12.12) 28.8 % (0.10) - (12.12) (0.10)
Q4 2018 19.01 (71.5 %) 0.16 - 19.01 0.16
Q1 2019 (21.71) (139.3 %) (0.18) - (21.71) (0.18)
Q2 2019 (186.49) (922.8 %) (1.55) (108.90) (77.59) (0.65)
Q3 2019 28.11 332.0 % 0.23 - 28.11 0.23
Q4 2019 (259.65) (1466.1 %) (2.16) (130.02) (129.64) (1.08)
Q1 2020 45.60 310.1 % 0.38 - 45.60 0.38
Q2 2020 24.98 113.4 % 0.21 - 24.98 0.21
Q3 2020 67.41 139.8 % 0.56 - 67.41 0.56
Q4 2020 (13.20) 94.9 % (0.11) - (13.20) (0.11)
Q1 2021 26.15 (42.7 %) 0.22 - 26.15 0.22
Q2 2021 31.07 24.4 % 0.26 - 31.07 0.26
Q3 2021 7.40 (89.0 %) 0.06 - 7.40 0.06
Q4 2021 (38.15) (189.1 %) (0.32) - (38.15) (0.32)
Q1 2022 33.33 27.5 % 0.28 - 33.33 0.28
Q2 2022 (46.65) (250.2 %) (0.39) - (46.65) (0.39)
Q3 2022 (45.05) (709.1 %) (0.38) - (45.05) (0.38)
Q4 2022 (106.76) (179.8 %) (0.89) - (106.76) (0.89)
Q1 2023 43.78 31.4 % 0.36 - 43.78 0.36
Q2 2023 15.35 132.9 % 0.13 - 15.35 0.13
Q3 2023 (45.52) (1.0 %) (0.38) (24.84) (20.68) (0.17)
Q4 2023 (64.33) 39.7 % (0.54) 42.02 (106.35) (0.89)
Q1 2024 35.35 (19.3 %) 0.29 - 35.35 0.29
Q2 2024 17.10 11.4 % 0.14 2.65 14.45 0.12
Q3 2024 (11.05) 75.7 % (0.09) 4.33 (15.38) (0.13)
Q4 2024 (16.86) 73.8 % (0.14) 17.01 (33.87) (0.28)
2024 24.54 148.4 % 0.20 23.99 0.55 0.00

Profitability

Period Gross Margin Adjusted EBITDA margin Net Margin Before Unusual Items
Q1 2003 - - -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 31.39 % 11.76 % 7.21 %
Q1 2004 30.32 % 11.28 % 6.87 %
Q2 2004 32.30 % 12.38 % 8.42 %
Q3 2004 34.79 % 13.47 % 9.80 %
Q4 2004 36.86 % 14.75 % 11.24 %
Q1 2005 39.90 % 16.36 % 13.40 %
Q2 2005 39.79 % 16.55 % 13.99 %
Q3 2005 40.99 % 17.10 % 14.65 %
Q4 2005 41.77 % 18.97 % 14.82 %
Q1 2006 42.61 % 18.61 % 14.53 %
Q2 2006 42.30 % 18.33 % 13.13 %
Q3 2006 42.16 % 18.23 % 13.28 %
Q4 2006 42.37 % 17.65 % 14.43 %
Q1 2007 41.73 % 17.98 % 14.51 %
Q2 2007 39.78 % 14.82 % 14.51 %
Q3 2007 40.47 % 15.48 % 15.01 %
Q4 2007 40.94 % 15.79 % 15.28 %
Q1 2008 41.13 % 15.70 % 15.13 %
Q2 2008 42.03 % 16.67 % 16.57 %
Q3 2008 43.15 % 16.47 % 15.83 %
Q4 2008 41.63 % 16.30 % 15.25 %
Q1 2009 40.91 % 16.13 % 14.83 %
Q2 2009 40.87 % 16.44 % 14.89 %
Q3 2009 39.57 % 15.73 % 14.07 %
Q4 2009 44.13 % 18.49 % 16.63 %
Q1 2010 44.45 % 18.88 % 16.94 %
Q2 2010 45.32 % 18.93 % 17.07 %
Q3 2010 45.73 % 18.73 % 16.95 %
Q4 2010 46.88 % 18.85 % 17.32 %
Q1 2011 48.36 % 18.99 % 17.42 %
Q2 2011 48.73 % 19.12 % 18.44 %
Q3 2011 49.86 % 19.99 % 19.22 %
Q4 2011 49.64 % 19.57 % 18.62 %
Q1 2012 50.01 % 19.86 % 18.73 %
Q2 2012 51.72 % 20.36 % 21.31 %
Q3 2012 51.47 % 20.54 % 21.21 %
Q4 2012 52.28 % 19.56 % 19.66 %
Q1 2013 52.36 % 19.26 % 19.28 %
Q2 2013 52.98 % 18.87 % 20.24 %
Q3 2013 53.58 % 18.66 % 20.45 %
Q4 2013 54.06 % 18.26 % 20.45 %
Q1 2014 53.95 % 17.92 % 21.86 %
Q2 2014 53.91 % 17.74 % 20.28 %
Q3 2014 53.39 % 16.79 % 19.84 %
Q4 2014 54.03 % 18.15 % 21.50 %
Q1 2015 54.34 % 18.90 % 21.67 %
Q2 2015 53.23 % 18.31 % 20.04 %
Q3 2015 51.63 % 17.40 % 19.05 %
Q4 2015 49.19 % 17.17 % 19.11 %
Q1 2016 50.60 % 15.90 % 18.80 %
Q2 2016 52.04 % 15.52 % 16.88 %
Q3 2016 54.52 % 15.09 % 15.79 %
Q4 2016 56.62 % 10.25 % 5.68 %
Q1 2017 54.97 % 9.67 % 3.99 %
Q2 2017 54.34 % 11.85 % 4.64 %
Q3 2017 52.59 % 11.94 % 2.91 %
Q4 2017 50.83 % 14.96 % 9.94 %
Q1 2018 49.81 % 16.45 % 9.97 %
Q2 2018 50.07 % 14.49 % 8.30 %
Q3 2018 52.76 % 15.07 % 9.00 %
Q4 2018 40.89 % 5.68 % 5.61 %
Q1 2019 36.61 % 2.64 % 0.50 %
Q2 2019 31.57 % (2.89 %) (5.68 %)
Q3 2019 31.33 % 0.66 % (2.99 %)
Q4 2019 33.47 % 1.46 % (13.51 %)
Q1 2020 35.84 % 4.49 % (8.80 %)
Q2 2020 40.20 % 10.74 % (2.08 %)
Q3 2020 41.04 % 11.13 % 0.55 %
Q4 2020 44.40 % 14.83 % 8.02 %
Q1 2021 41.30 % 12.43 % 6.86 %
Q2 2021 42.86 % 13.79 % 7.27 %
Q3 2021 41.26 % 10.94 % 3.50 %
Q4 2021 42.52 % 9.78 % 1.81 %
Q1 2022 47.65 % 12.35 % 2.41 %
Q2 2022 44.31 % 6.97 % (3.20 %)
Q3 2022 41.31 % 2.84 % (6.78 %)
Q4 2022 39.88 % (1.35 %) (11.61 %)
Q1 2023 40.83 % 0.24 % (9.89 %)
Q2 2023 42.26 % 4.48 % (5.58 %)
Q3 2023 44.22 % 7.20 % (4.05 %)
Q4 2023 42.47 % 5.02 % (4.10 %)
2023 42.47 % 5.02 % (4.10 %)
Q1 2024 43.57 % 5.27 % (4.77 %)
Q2 2024 44.04 % 5.16 % (4.93 %)
Q3 2024 45.28 % 5.57 % (4.41 %)
Q4 2024 49.76 % 12.12 % 0.03 %
2024 49.76 % 12.12 % 0.03 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2003 101.51 - - 11.83
Q2 2003 101.51 - - 11.92
Q3 2003 101.51 - - 11.99
Q4 2003 101.51 0.40 0.40 12.00
Q1 2004 101.51 0.42 0.42 11.72
Q2 2004 101.51 0.52 0.52 11.91
Q3 2004 101.51 0.58 0.58 12.04
Q4 2004 101.51 0.65 0.65 15.40
Q1 2005 101.51 0.76 0.76 18.03
Q2 2005 101.51 0.81 0.81 18.64
Q3 2005 101.51 0.88 0.88 20.02
Q4 2005 101.51 0.95 0.95 20.18
Q1 2006 101.51 0.97 0.97 25.43
Q2 2006 101.51 0.92 0.92 21.37
Q3 2006 101.51 0.95 0.95 27.26
Q4 2006 101.51 1.03 1.03 19.65
Q1 2007 101.51 1.05 1.05 19.84
Q2 2007 101.51 1.09 1.09 19.42
Q3 2007 101.51 1.11 1.11 21.04
Q4 2007 101.51 1.20 1.20 28.41
Q1 2008 101.51 1.21 1.21 26.83
Q2 2008 101.51 1.33 1.33 27.74
Q3 2008 101.51 1.22 1.27 21.88
Q4 2008 101.51 1.26 1.31 13.76
Q1 2009 101.51 1.28 1.33 14.17
Q2 2009 101.51 1.32 1.36 17.62
Q3 2009 101.51 1.32 1.32 19.72
Q4 2009 101.51 1.53 1.56 21.46
Q1 2010 120.00 1.31 1.36 22.04
Q2 2010 120.00 1.36 1.41 19.98
Q3 2010 120.00 1.37 1.43 21.69
Q4 2010 120.00 1.47 1.50 24.48
Q1 2011 120.00 1.47 1.47 25.41
Q2 2011 120.00 1.62 1.62 27.29
Q3 2011 120.00 1.72 1.72 25.92
Q4 2011 120.00 1.75 1.75 26.50
Q1 2012 120.00 1.84 1.84 30.26
Q2 2012 120.00 2.09 2.09 25.75
Q3 2012 120.00 2.11 2.11 26.24
Q4 2012 120.00 1.94 1.94 25.28
Q1 2013 120.00 1.99 1.99 27.18
Q2 2013 120.00 2.19 2.19 26.14
Q3 2013 120.00 2.21 2.21 27.35
Q4 2013 120.00 2.23 2.23 32.18
Q1 2014 120.00 2.47 2.47 32.96
Q2 2014 120.00 2.33 2.33 33.21
Q3 2014 120.00 2.35 2.35 35.74
Q4 2014 120.00 2.64 2.64 28.75
Q1 2015 120.00 2.71 2.71 27.84
Q2 2015 120.00 3.87 2.61 28.72
Q3 2015 120.00 3.81 2.55 24.87
Q4 2015 120.00 2.98 2.70 22.17
Q1 2016 120.00 2.89 2.49 20.84
Q2 2016 120.00 1.24 2.10 20.49
Q3 2016 120.00 1.03 1.89 20.40
Q4 2016 120.00 2.31 0.60 22.59
Q1 2017 120.00 2.41 0.44 23.27
Q2 2017 120.00 2.47 0.50 21.52
Q3 2017 120.00 2.29 0.32 22.01
Q4 2017 120.00 1.64 1.15 22.78
Q1 2018 120.00 1.26 1.15 25.04
Q2 2018 120.00 1.06 0.95 25.74
Q3 2018 120.00 1.10 0.99 24.32
Q4 2018 120.00 0.71 0.71 21.17
Q1 2019 120.00 0.07 0.07 22.80
Q2 2019 120.00 (1.68) (0.77) 19.63
Q3 2019 120.00 (1.34) (0.43) 18.36
Q4 2019 120.00 (3.66) (1.67) 16.20
Q1 2020 120.00 (3.10) (1.11) 14.14
Q2 2020 120.00 (1.34) (0.26) 14.67
Q3 2020 120.00 (1.01) 0.07 15.63
Q4 2020 120.00 1.04 1.04 15.96
Q1 2021 120.00 0.88 0.88 16.29
Q2 2021 120.00 0.93 0.93 15.54
Q3 2021 120.00 0.43 0.43 15.53
Q4 2021 120.00 0.22 0.22 15.31
Q1 2022 120.00 0.28 0.28 15.53
Q2 2022 120.00 (0.37) (0.37) 14.54
Q3 2022 120.00 (0.80) (0.80) 14.13
Q4 2022 120.00 (1.38) (1.38) 12.10
Q1 2023 120.00 (1.29) (1.29) 13.29
Q2 2023 120.00 (0.77) (0.77) 12.78
Q3 2023 120.00 (0.78) (0.57) 12.30
Q4 2023 120.00 (0.42) (0.57) 11.46
Q1 2024 120.00 (0.49) (0.64) 11.79
Q2 2024 120.00 (0.48) (0.64) 11.81
Q3 2024 120.00 (0.19) (0.60) 11.75
Q4 2024 120.00 0.20 0.00 11.49

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2003 - - 1.40
Q2 2003 - - 1.86
Q3 2003 - - 1.79
Q4 2003 54.10 54.10 1.78
Q1 2004 56.73 56.73 2.01
Q2 2004 56.68 56.68 2.46
Q3 2004 58.18 58.18 2.81
Q4 2004 51.34 51.34 2.15
Q1 2005 64.94 64.94 2.75
Q2 2005 95.64 95.64 4.18
Q3 2005 95.14 95.14 4.20
Q4 2005 More than 100 More than 100 6.89
Q1 2006 More than 100 More than 100 4.07
Q2 2006 97.11 97.11 4.18
Q3 2006 89.06 89.06 3.10
Q4 2006 33.13 33.13 1.74
Q1 2007 30.19 30.19 1.60
Q2 2007 28.33 28.33 1.59
Q3 2007 28.70 28.70 1.52
Q4 2007 33.83 33.83 1.43
Q1 2008 27.68 27.68 1.25
Q2 2008 26.79 26.70 1.28
Q3 2008 20.49 19.74 1.14
Q4 2008 12.99 12.53 1.19
Q1 2009 14.92 14.39 1.35
Q2 2009 17.20 16.65 1.28
Q3 2009 18.29 18.26 1.22
Q4 2009 15.25 14.94 1.08
Q1 2010 16.69 16.04 0.99
Q2 2010 14.70 14.15 1.00
Q3 2010 14.64 14.10 0.93
Q4 2010 15.82 15.53 0.95
Q1 2011 17.65 17.65 1.02
Q2 2011 15.68 15.68 0.93
Q3 2011 14.41 14.41 0.96
Q4 2011 15.03 15.03 0.99
Q1 2012 17.92 17.92 1.09
Q2 2012 12.56 12.56 1.02
Q3 2012 13.70 13.70 1.10
Q4 2012 14.74 14.74 1.13
Q1 2013 13.60 13.60 1.00
Q2 2013 15.51 15.51 1.30
Q3 2013 15.70 15.70 1.27
Q4 2013 19.02 19.02 1.32
Q1 2014 19.07 19.07 1.43
Q2 2014 19.29 19.29 1.36
Q3 2014 21.41 21.41 1.41
Q4 2014 12.89 12.89 1.18
Q1 2015 14.78 14.78 1.44
Q2 2015 11.59 17.18 1.56
Q3 2015 9.46 14.14 1.45
Q4 2015 11.16 12.29 1.50
Q1 2016 11.15 12.96 1.55
Q2 2016 29.96 17.69 1.81
Q3 2016 30.18 16.49 1.53
Q4 2016 17.72 68.63 1.81
Q1 2017 15.03 81.82 1.56
Q2 2017 14.32 70.59 1.64
Q3 2017 14.43 More than 100 1.50
Q4 2017 18.25 26.14 1.32
Q1 2018 24.34 26.70 1.23
Q2 2018 30.03 33.56 1.24
Q3 2018 28.37 31.57 1.29
Q4 2018 41.61 41.61 1.39
Q1 2019 More than 100 More than 100 1.21
Q2 2019 NEG NEG 1.35
Q3 2019 NEG NEG 1.43
Q4 2019 NEG NEG 1.68
Q1 2020 NEG NEG 1.91
Q2 2020 NEG NEG 1.98
Q3 2020 NEG More than 100 2.34
Q4 2020 37.70 37.70 2.46
Q1 2021 46.94 46.94 2.53
Q2 2021 62.14 62.14 3.71
Q3 2021 More than 100 More than 100 3.00
Q4 2021 More than 100 More than 100 2.57
Q1 2022 More than 100 More than 100 2.40
Q2 2022 NEG NEG 1.79
Q3 2022 NEG NEG 1.85
Q4 2022 NEG NEG 1.80
Q1 2023 NEG NEG 1.79
Q2 2023 NEG NEG 2.98
Q3 2023 NEG NEG 2.87
Q4 2023 NEG NEG 3.30
Q1 2024 NEG NEG 3.00
Q2 2024 NEG NEG 2.49
Q3 2024 NEG NEG 2.97
Q4 2024 More than 100 More than 100 2.78

Business Segments (Million Riyal)

Compared With The
Period Pharmaceutical Manufacturing Healthcare services Trading & Distribution Services Contract manufacturing arrangements Medical & Pharmaceutical production segment Investment activity Eliminations
Q1 2005 - - - - 166.00 - -
Q2 2005 - - - - 152.77 - -
Q3 2005 - - - - 141.13 - -
Q4 2005 - - - - 189.00 - -
Q1 2006 - - - - 194.37 - -
Q2 2006 - - - - 185.74 - -
Q3 2006 - - - - 156.57 - -
Q4 2006 - - - - 191.16 - -
Q1 2007 - - - - 203.37 - -
Q2 2007 - - - - 209.28 - -
Q3 2007 - - - - 149.40 - -
Q4 2007 - - - - 235.69 - -
Q1 2008 - - - - 220.58 - -
Q2 2008 - - - - 211.66 - -
Q3 2008 - - - - 145.45 - -
Q4 2008 - - - - 294.25 - -
Q1 2009 - - - - 257.88 - -
Q2 2009 - - - - 229.00 - -
Q3 2009 - - - - 171.15 - -
Q4 2009 - - - - 292.71 - -
Q1 2010 - - - - 274.33 - -
Q2 2010 - - - - 252.34 - -
Q3 2010 - - - - 191.41 - -
Q4 2010 - - - - 319.57 - -
Q1 2011 - - - - 252.08 - -
Q2 2011 - - - - 292.08 - -
Q3 2011 - - - - 209.24 - -
Q4 2011 - - - - 375.82 - -
Q1 2012 - - - - 303.14 - -
Q2 2012 - - - - 286.65 - -
Q3 2012 - - - - 227.40 - -
Q4 2012 - - - - 365.97 - -
Q1 2013 - - - - 361.37 - -
Q2 2013 - - - - 344.22 - -
Q3 2013 - - - - 222.91 - -
Q4 2013 - - - - 382.01 - -
Q1 2014 - - - - 405.21 - -
Q2 2014 - - - - 374.14 - -
Q3 2014 - - - - 266.02 - -
Q4 2014 - - - - 427.82 - -
Q1 2015 - - - - 432.29 14.84 -
Q2 2015 - - - - 436.99 195.93 -
Q3 2015 - - - - 308.38 9.55 -
Q4 2015 - - - - 529.24 - -
Q1 2016 - - - - 513.97 25.27 -
Q2 2016 - - - - 494.92 9.41 -
Q3 2016 - - - - 100.39 6.23 -
Q4 2016 - - - - 401.35 247.84 -
Q1 2017 - - - - 446.00 50.90 (51.45)
Q2 2017 - - - - 350.01 1.39 (43.30)
Q3 2017 - - - - 317.29 4.01 (36.78)
Q4 2017 - - - - 486.15 - (54.74)
Q1 2018 - - - - 450.19 7.00 (57.49)
Q3 2018 172.41 34.26 1.75 16.54 - - -
Q1 2019 419.76 22.19 2.03 0.82 - - -
Q2 2019 334.00 19.00 0.91 1.12 - - -
Q3 2019 313.52 20.79 7.10 1.29 - - -
Q1 2020 449.65 22.39 1.55 2.13 - - -
Q2 2020 295.05 27.32 5.12 0.65 - - -
Q3 2020 348.38 22.04 0.75 1.74 - - -
Q4 2020 349.04 20.89 6.83 1.76 - - -
Q1 2021 407.34 20.92 26.29 0.25 - - -
Q2 2021 314.20 27.04 - 2.98 - - -
Q3 2021 276.02 28.96 0.06 6.32 - - -
Q4 2021 336.97 26.95 - 6.42 - - -
Q1 2022 354.53 30.22 4.44 0.14 - - -
Q2 2022 244.52 27.85 38.40 - - - -
Q3 2022 298.78 33.20 25.04 - - - -
Q1 2023 431.67 37.35 62.75 - - - -
Q2 2023 342.23 38.90 26.93 - - - -
Q3 2023 308.91 42.42 29.76 - - - -
Q4 2023 213.90 42.73 77.90 - - - -
Q1 2024 391.86 43.60 40.50 - - - -
Q3 2024 353.54 40.10 53.68 - - - -

Analysts Estimates (Million Riyal)

Item Profit (Expected) Profit (Actual) Change
Average 11.50 (16.86)

Estimates vs Actual (Million Riyal)

Item Profit (Expected) Profit (Actual) Change‬ Profit Before Unusual Items Change‬
Al Rajhi Capital (12.00) (16.86) (33.87)
United Securities Company 35.00 (16.86) (33.87)

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