Dallah Healthcare’s net profit up 31% to SAR 360.1M in 2023, Q4 at SAR 113.7M

Dallah Healthcare’s net profit up 31% to SAR 360.1M in 2023, Q4 at SAR 113.7M

14/03/2024 Argaam Exclusive

View other reports

Dallah Healthcare Co. reported a net profit of SAR 360.1 million for 2023, growth of 31% from SAR 274.5 million a year earlier



Financials (M)

Item 2022 2023 Change‬
Revenues 2,487.98 2,942.90 18.3 %
Gross Income 895.10 1,078.67 20.5 %
Operating Income 392.49 471.60 20.2 %
Net Income 274.46 360.12 31.2 %
Average Shares 90.00 97.68 8.5 %
EPS (Riyals) 3.05 3.69 20.9 %

Revenues rose by 18.3% year-on-year (YoY) to SAR 2.94 billion, due to the increase in the number of visitors to the group’s hospitals and higher occupancy rates following improved operations and capacity.

 

Gross profit led up 21% YoY on higher revenue. Meanwhile, Dallah noted associates’ improved performance and the company’s acquisition of an additional interest in an associated company in 2023.

 

Dallah recorded Zakat provisions at SAR 18.5 million in 2022, while in 2023 amended Zakat assessments were received in favor of the company.

 

Q4 2023 net profit rose 45% YoY to SAR 113.7 million.

 

On a quarterly basis, net profit grew 14.9%, from SAR 98.87 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 693.88 806.01 16.2 %
Gross Income 239.81 295.94 23.4 %
Operating Income 101.69 126.50 24.4 %
Net Income 78.44 113.65 44.9 %
Average Shares 90.00 97.68 8.5 %
EPS (Riyals) 0.87 1.16 33.5 %

Total shareholders’ equity, after minority interest, stood at SAR 3.20 billion by Dec. 31, 2023, compared to SAR 1.98 billion a year earlier.

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2014 207.57 13.0 % 87.60 3.8 % 40.50 3.7 % 0.45
Q2 2014 219.45 16.9 % 93.78 16.2 % 34.33 45.2 % 0.38
Q3 2014 192.79 15.4 % 75.36 13.0 % 21.94 0.5 % 0.24
Q4 2014 240.08 13.8 % 103.54 8.2 % 50.35 (3.4 %) 0.56
Q1 2015 240.40 15.8 % 102.13 16.6 % 47.82 18.1 % 0.53
Q2 2015 245.23 11.7 % 100.89 7.6 % 35.86 4.4 % 0.40
Q3 2015 223.93 16.2 % 87.92 16.7 % 26.78 22.1 % 0.30
Q4 2015 276.50 15.2 % 116.81 12.8 % 54.60 8.4 % 0.61
Q1 2016 285.03 18.6 % 132.53 29.8 % 58.07 21.4 % 0.65
Q2 2016 288.35 17.6 % 129.78 28.6 % 54.14 51.0 % 0.60
Q3 2016 273.17 22.0 % 122.38 39.2 % 60.80 127.0 % 0.68
Q4 2016 316.24 14.4 % 151.01 29.3 % 51.71 (5.3 %) 0.57
Q1 2017 302.75 6.2 % 143.60 8.4 % 85.05 46.5 % 0.94
Q2 2017 288.20 0.0 % 130.48 0.5 % 69.99 29.3 % 0.78
Q3 2017 295.25 8.1 % 136.77 11.8 % 76.82 26.3 % 0.85
Q4 2017 325.87 3.0 % 148.23 (1.8 %) 63.12 22.1 % 0.70
Q1 2018 308.59 1.9 % 131.73 (8.3 %) 58.09 (31.7 %) 0.65
Q2 2018 273.13 (5.2 %) 92.38 (29.2 %) 18.73 (73.2 %) 0.21
Q3 2018 280.94 (4.8 %) 101.37 (25.9 %) 32.48 (57.7 %) 0.36
Q4 2018 318.28 (2.3 %) 110.86 (25.2 %) 32.47 (48.6 %) 0.36
Q1 2019 321.15 4.1 % 120.26 (8.7 %) 35.17 (39.5 %) 0.39
Q2 2019 286.00 4.7 % 92.46 0.1 % 15.35 (18.1 %) 0.17
Q3 2019 301.34 7.3 % 107.78 6.3 % 26.62 (18.1 %) 0.30
Q4 2019 343.60 8.0 % 127.34 14.9 % 69.79 115.0 % 0.78
Q1 2020 314.61 (2.0 %) 105.76 (12.1 %) 19.24 (45.3 %) 0.21
Q2 2020 247.56 (13.4 %) 67.77 (26.7 %) 6.99 (54.4 %) 0.08
Q3 2020 350.79 16.4 % 132.62 23.0 % 53.78 102.1 % 0.60
Q4 2020 405.30 18.0 % 143.57 12.7 % 51.98 (25.5 %) 0.58
Q1 2021 494.67 57.2 % 176.82 67.2 % 52.61 173.4 % 0.58
Q2 2021 490.83 98.3 % 168.17 148.1 % 47.54 579.9 % 0.53
Q3 2021 544.12 55.1 % 192.46 45.1 % 49.85 (7.3 %) 0.55
Q4 2021 575.57 42.0 % 222.91 55.3 % 108.60 108.9 % 1.21
Q1 2022 609.40 23.2 % 231.69 31.0 % 82.63 57.1 % 0.92
Q2 2022 583.82 18.9 % 212.13 26.1 % 69.52 46.2 % 0.77
Q3 2022 600.89 10.4 % 211.47 9.9 % 43.87 (12.0 %) 0.49
Q4 2022 693.88 20.6 % 239.81 7.6 % 78.44 (27.8 %) 0.87
Q1 2023 716.64 17.6 % 266.79 15.1 % 94.66 14.6 % 0.97
Q2 2023 670.42 14.8 % 235.08 10.8 % 53.01 (23.8 %) 0.54
Q3 2023 749.83 24.8 % 280.86 32.8 % 98.87 125.4 % 1.01
Q4 2023 806.01 16.2 % 295.94 23.4 % 113.65 44.9 % 1.16
2023 2,942.90 18.3 % 1,078.67 20.5 % 360.12 31.2 % 3.69

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 42.75 % 23.14 % 17.85 %
Q2 2014 42.69 % 22.94 % 18.48 %
Q3 2014 42.42 % 22.43 % 17.92 %
Q4 2014 41.90 % 22.11 % 17.11 %
Q1 2015 41.98 % 21.38 % 15.76 %
Q2 2015 41.58 % 21.72 % 15.48 %
Q3 2015 41.54 % 21.77 % 15.49 %
Q4 2015 41.35 % 21.81 % 15.34 %
Q1 2016 42.51 % 23.29 % 17.20 %
Q2 2016 43.49 % 24.24 % 18.50 %
Q3 2016 44.66 % 25.57 % 19.88 %
Q4 2016 46.07 % 24.94 % 19.47 %
Q1 2017 46.32 % 26.38 % 21.29 %
Q2 2017 46.38 % 27.68 % 22.38 %
Q3 2017 46.73 % 29.19 % 24.08 %
Q4 2017 46.13 % 30.34 % 25.30 %
Q1 2018 44.93 % 28.26 % 22.97 %
Q2 2018 42.33 % 24.50 % 18.99 %
Q3 2018 39.86 % 21.41 % 15.49 %
Q4 2018 36.95 % 18.60 % 12.00 %
Q1 2019 35.60 % 17.66 % 9.96 %
Q2 2019 35.23 % 17.77 % 9.57 %
Q3 2019 35.16 % 17.58 % 8.93 %
Q4 2019 35.77 % 19.73 % 10.66 %
Q1 2020 34.79 % 18.58 % 9.44 %
Q2 2020 33.85 % 18.13 % 9.05 %
Q3 2020 34.50 % 19.13 % 9.55 %
Q4 2020 34.12 % 16.71 % 6.13 %
Q1 2021 34.76 % 18.09 % 7.62 %
Q2 2021 35.67 % 19.32 % 8.88 %
Q3 2021 35.20 % 18.83 % 8.64 %
Q4 2021 36.12 % 21.04 % 11.79 %
Q1 2022 36.72 % 21.66 % 12.54 %
Q2 2022 37.15 % 22.13 % 12.98 %
Q3 2022 37.06 % 22.17 % 12.42 %
Q4 2022 35.98 % 20.37 % 11.03 %
Q1 2023 35.84 % 20.47 % 11.04 %
Q2 2023 35.54 % 19.47 % 10.07 %
Q3 2023 36.12 % 19.94 % 11.48 %
Q4 2023 36.65 % 20.29 % 12.24 %
2023 36.65 % 20.29 % 12.24 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 90.00 1.53 1.53 13.75
Q2 2014 90.00 1.65 1.65 13.36
Q3 2014 90.00 1.65 1.65 13.65
Q4 2014 90.00 1.63 1.63 14.15
Q1 2015 90.00 1.72 1.56 14.74
Q2 2015 90.00 1.73 1.58 14.63
Q3 2015 90.00 1.79 1.63 14.86
Q4 2015 90.00 1.83 1.68 15.48
Q1 2016 90.00 1.95 1.97 16.15
Q2 2016 90.00 2.15 2.21 15.76
Q3 2016 90.00 2.53 2.48 16.26
Q4 2016 90.00 2.50 2.52 16.85
Q1 2017 90.00 2.80 2.79 17.78
Q2 2017 90.00 2.97 2.93 17.24
Q3 2017 90.00 3.15 3.22 18.05
Q4 2017 90.00 3.28 3.41 18.80
Q1 2018 90.00 2.98 3.11 19.41
Q2 2018 90.00 2.41 2.54 17.98
Q3 2018 90.00 1.92 2.05 18.34
Q4 2018 90.00 1.58 1.58 17.79
Q1 2019 90.00 1.32 1.32 18.07
Q2 2019 90.00 1.28 1.28 16.24
Q3 2019 90.00 1.22 1.22 16.54
Q4 2019 90.00 1.63 1.48 16.91
Q1 2020 90.00 1.46 1.31 16.57
Q2 2020 90.00 1.36 1.21 16.65
Q3 2020 90.00 1.66 1.33 17.25
Q4 2020 90.00 1.47 0.90 19.94
Q1 2021 90.00 1.84 1.27 19.89
Q2 2021 90.00 2.29 1.72 20.42
Q3 2021 90.00 2.24 1.86 20.86
Q4 2021 90.00 2.87 2.76 20.74
Q1 2022 90.00 3.21 3.09 21.70
Q2 2022 90.00 3.45 3.34 22.47
Q3 2022 90.00 3.38 3.27 21.96
Q4 2022 90.00 3.05 3.05 22.11
Q1 2023 97.68 2.93 2.93 32.03
Q2 2023 97.68 2.76 2.76 32.07
Q3 2023 97.68 3.33 3.33 32.64
Q4 2023 97.68 3.69 3.69 32.79

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 33.02 33.02 3.69
Q2 2014 33.91 33.91 4.19
Q3 2014 43.67 43.67 5.29
Q4 2014 45.25 45.25 5.23
Q1 2015 40.15 44.08 4.67
Q2 2015 45.84 50.27 5.43
Q3 2015 32.29 35.31 3.88
Q4 2015 27.26 29.73 3.23
Q1 2016 27.46 27.14 3.31
Q2 2016 28.54 27.81 3.89
Q3 2016 21.29 21.71 3.31
Q4 2016 27.05 26.85 4.01
Q1 2017 25.95 25.99 4.08
Q2 2017 26.81 27.16 4.62
Q3 2017 24.63 24.12 4.30
Q4 2017 21.93 21.10 3.82
Q1 2018 24.80 23.77 3.80
Q2 2018 28.42 26.97 3.81
Q3 2018 22.92 21.46 2.39
Q4 2018 25.39 25.39 2.25
Q1 2019 32.81 32.81 2.40
Q2 2019 34.90 34.90 2.76
Q3 2019 36.10 36.10 2.66
Q4 2019 25.93 28.53 2.50
Q1 2020 28.43 31.66 2.50
Q2 2020 31.13 34.94 2.55
Q3 2020 30.78 38.40 2.97
Q4 2020 35.71 58.36 2.63
Q1 2021 31.13 45.10 2.88
Q2 2021 37.67 50.14 4.22
Q3 2021 34.24 41.38 3.68
Q4 2021 28.37 29.55 3.93
Q1 2022 34.32 35.59 5.07
Q2 2022 34.85 36.05 5.35
Q3 2022 50.66 52.45 7.81
Q4 2022 52.67 52.67 7.27
Q1 2023 52.51 52.51 4.81
Q2 2023 60.71 60.71 5.23
Q3 2023 42.86 42.86 4.37
Q4 2023 46.59 46.59 5.24

Business Segments (Million)

Compared With The
Period Medical Services Medicine and Pharmaceutical Products
Q1 2014 195.44 12.12
Q2 2014 201.76 17.69
Q3 2014 177.26 15.52
Q4 2014 223.36 16.72
Q1 2015 224.02 16.38
Q2 2015 228.38 16.85
Q3 2015 215.41 8.52
Q4 2015 257.40 18.49
Q1 2016 276.15 8.88
Q2 2016 277.42 10.93
Q3 2016 265.04 8.13
Q4 2016 307.51 8.73
Q1 2017 239.94 62.81
Q2 2017 229.31 58.90
Q3 2017 235.08 60.17
Q4 2017 241.44 84.43
Q1 2018 236.76 71.84
Q2 2018 205.73 67.39
Q3 2018 218.43 62.50
Q4 2018 228.74 89.55
Q1 2019 239.22 81.93
Q2 2019 210.95 75.06
Q3 2019 232.55 68.79
Q4 2019 259.40 84.20
Q1 2020 227.83 86.77
Q2 2020 166.96 80.60
Q3 2020 260.50 90.30
Q4 2020 309.74 95.55
Q1 2021 378.70 115.97
Q2 2021 374.54 116.29
Q3 2021 412.23 131.88
Q4 2021 472.23 103.34
Q1 2022 470.53 138.87
Q2 2022 475.30 108.52
Q3 2022 438.86 162.03
Q4 2022 547.10 146.77
Q1 2023 530.59 186.05
Q2 2023 513.01 157.40
Q3 2023 518.40 231.43
Q4 2023 597.28 208.74

Analysts Estimates (Million)

Item Q4 2023 (e) Q4 2023 (a) Change‬
Average 99.33 113.65 14.41 %

Estimates vs Actual (Million)

Item Q4 2023 (e) Q4 2023 (a) Change
SNB Capital 97.60 113.65 16.4 %
AlJazira Capital 95.90 113.65 18.5 %
OSOOL AND BAKHEET 92.70 113.65 22.6 %
Hermes 155.00 113.65 (26.7) %
Al Rajhi Capital 89.00 113.65 27.7 %
U-Capital 87.00 113.65 30.6 %
Goldman Sachs 78.14 113.65 45.4 %


Financial Ratios
Current
Market Cap (M Riyal) 15,023.18
Enterprise Value (EV) (M) 16,926.66
Shares Outstanding ((M)) 97.68
EPS ( Riyal) (TTM) 3.94
Book Value (BV) ( Riyal) 34.02
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 39.04
P/E (TTM) 39.04
Price/book 4.52
Return on Average Assets (%) (TTM) 6.2
Return on Average Equity (%) (TTM) 11.9
more

Share Price

Dallah Healthcare Co.
153.80
(1.80) (1.16 %)

Dallah Healthcare Co. (DALLAH HEALTH)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.