Nahdi logs 9% rise in 2022 profit to SAR 887.8 mln; Q4 at SAR 128 mln
Nahdi Medical Co. reported a rise of 9% in 2022 net profit to SAR 887.8 million, from SAR 812.5 million a year earlier.
Financials (M)
Item | 2021 | 2022 | Change |
---|---|---|---|
Revenues | 8,066.22 | 8,616.19 | 6.8 % |
Gross Income | 3,304.68 | 3,545.39 | 7.3 % |
Operating Income | 847.88 | 975.52 | 15.1 % |
Net Income | 812.53 | 887.81 | 9.3 % |
Average Shares | 130.00 | 130.00 | - |
EPS (Riyals) | 6.25 | 6.83 | 9.3 % |
The medical services provider cited a 6.8% year-on-year (YoY) rise in revenue, primarily on the pharma segment growth and improved religious tourism, which normalized to the pre-pandemic levels at the two Holy Mosques in Makkah and Madinah.
Gross profit jumped 6.5% YoY on sales growth. Gross profit margins reached 40.9%, maintaining the same level of 2021.
On the other hand, operating expenses increased by 4.6% YoY, below the top-line growth. The increase was mainly attributed to support the business growth. The net balance of operating expenses and other operating revenue increased by 5.6% YoY in the 12-month period.
Current Quarter Comparison (M)
Item | Q4 2021 | Q4 2022 | Change |
---|---|---|---|
Revenues | 1,973.23 | 2,138.24 | 8.4 % |
Gross Income | 807.21 | 856.31 | 6.1 % |
Operating Income | 99.44 | 148.89 | 49.7 % |
Net Income | 143.23 | 127.99 | (10.6 %) |
Average Shares | 130.00 | 130.00 | - |
EPS (Riyals) | 1.10 | 0.98 | (10.6 %) |
The fourth-quarter net profit dropped 11% to SAR 128 million, from SAR 143.23 million in Q4 2021.
Compared to the previous quarter, Q4 net profit fell by 49.6% from SAR 253.81 million.
Shareholders’ equity, after minority interest, rose to SAR 2.24 billion as of Dec. 31, 2022, from SAR 1.60 billion a year earlier.
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Share Price
Nahdi Medical Co. (NAHDI)
Current | |
Market Cap (M Riyal) | 15,418.00 |
Enterprise Value (EV) (M) | 14,670.35 |
Shares Outstanding ((M)) | 130.00 |
EPS ( Riyal) (TTM) | 6.41 |
Book Value (BV) ( Riyal) | 18.53 |
Par Value ( Riyal) | 10.00 |
Adjusted P/E (Last12) | 19.26 |
P/E (TTM) | 18.50 |
Price/book | 6.40 |
Return on Average Assets (%) (TTM) | 15.1 |
Return on Average Equity (%) (TTM) | 35.6 |
Financial results (Million)
Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
---|---|---|---|---|---|---|
Q1 2022 | 2,079.49 | 5.0 % | 851.73 | 9.2 % | 255.15 | 13.7 % |
Q2 2022 | 2,239.47 | 8.2 % | 926.30 | 7.7 % | 300.00 | 17.6 % |
Q3 2022 | 2,158.98 | 5.7 % | 911.06 | 6.2 % | 271.48 | 0.9 % |
Q4 2022 | 2,138.24 | 8.4 % | 856.31 | 6.1 % | 148.89 | 49.7 % |
2022 | 8,616.19 | 6.8 % | 3,545.39 | 7.3 % | 975.52 | 15.1 % |
Profit Performance (Million)
Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
---|---|---|---|---|---|---|
Q1 2022 | 237.51 | 21.8 % | 1.83 | - | 237.51 | 1.83 |
Q2 2022 | 268.51 | 18.4 % | 2.07 | - | 268.51 | 2.07 |
Q3 2022 | 253.81 | 2.6 % | 1.95 | 2.06 | 251.75 | 1.94 |
Q4 2022 | 127.99 | (10.6 %) | 0.98 | (1.55) | 129.53 | 1.00 |
2022 | 887.81 | 9.3 % | 6.83 | 0.51 | 887.30 | 6.83 |
Profitability
Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
---|---|---|---|
Q1 2022 | 41.36 % | 17.85 % | 10.39 % |
Q2 2022 | 41.31 % | 18.03 % | 10.68 % |
Q3 2022 | 41.37 % | 17.96 % | 10.58 % |
Q4 2022 | 41.15 % | 18.25 % | 10.30 % |
2022 | 41.15 % | 18.25 % | 10.30 % |
Per Share Data (Riyal)
Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
---|---|---|---|---|
Q1 2022 | 130.00 | 6.58 | 6.53 | 14.15 |
Q2 2022 | 130.00 | 6.90 | 6.85 | 16.49 |
Q3 2022 | 130.00 | 6.95 | 6.88 | 16.15 |
Q4 2022 | 130.00 | 6.83 | 6.83 | 17.26 |
Multiple Ratios (End of Period Price)
Period | P/E | Adjusted P/E | Price/book |
---|---|---|---|
Q1 2022 | 23.57 | 23.75 | 10.95 |
Q2 2022 | 23.46 | 23.63 | 9.81 |
Q3 2022 | 27.32 | 27.59 | 11.75 |
Q4 2022 | 24.48 | 24.50 | 9.69 |
Business Segments (Million)
Q4 2022
Period | Front Shop | Pharma | Other |
---|---|---|---|
Q1 2022 | 1,017.79 | 1,044.51 | 17.20 |
Q2 2022 | 1,138.04 | 1,085.84 | 15.58 |
Q3 2022 | 1,114.55 | 1,026.61 | 17.82 |
Q4 2022 | 1,008.13 | 1,106.09 | 24.02 |
Analysts Estimates (Million)
Item | Q4 2022 (e) | Q4 2022 (a) | Change |
---|---|---|---|
Average | 180.00 | 127.99 | (28.9 %) |
Estimates vs Actual (Million)
Item | Q4 2022 (e) | Q4 2022 (a) | Change |
---|---|---|---|
SNB Capital | 180.00 | 127.99 | (28.9) % |
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