Equipment House H1 2022 net profit down 21% to SAR 34 mln; Q2 at SAR 17.3 mln

Equipment House H1 2022 net profit down 21% to SAR 34 mln; Q2 at SAR 17.3 mln

24/08/2022 Argaam Exclusive

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Scientific and Medical Equipment House Co.’s (Equipment House) net profit after Zakat and tax fell 21% to SAR 34 million in H1 2022, compared to SAR 43.1 million in the year-ago period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 317.64 338.86 6.7 %
Gross Income 76.38 84.74 10.9 %
Operating Income 46.69 44.02 (5.7 %)
Net Income 43.11 34.08 (20.9 %)
Average Shares 30.00 30.00 -
EPS (Riyals) 1.44 1.14 (20.9 %)

The profit decline is attributed to higher financing costs, Zakat expenses and employee expenses, in addition to lower share of profit from subsidiaries.

 

In Q2 2022, the company’s net profit after Zakat and tax dropped 28% to SAR 17.3 million, from SAR 23.9 million in the corresponding period of 2021, driven by improved property sales.

 

Sequentially, the company’s net profit fell by 2% from SAR 16.7 million in Q1 2022.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 166.08 176.30 6.1 %
Gross Income 43.72 46.82 7.1 %
Operating Income 27.30 22.17 (18.8 %)
Net Income 23.92 17.36 (27.4 %)
Average Shares 30.00 30.00 -
EPS (Riyals) 0.80 0.58 (27.4 %)

Total shareholders’ equity, after minority interest, increased to SAR 487.5 million by the end of the six-month period, from SAR 441.1 million a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 151.56 - 32.66 - 19.39 -
Q2 2021 166.08 - 43.72 - 27.30 -
Q3 2021 176.51 - 37.54 - 19.21 -
Q4 2021 205.30 - 39.07 - 17.52 -
Q1 2022 162.56 7.3 % 37.92 16.1 % 21.84 12.7 %
Q2 2022 176.30 6.1 % 46.82 7.1 % 22.17 (18.8 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO 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 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 19.19 - 0.64 3.74 15.45 0.52
Q2 2021 23.92 - 0.80 - 23.92 0.80
Q3 2021 16.97 - 0.57 - 16.97 0.57
Q4 2021 17.45 - 0.58 - 17.45 0.58
Q1 2022 16.73 (12.8 %) 0.56 - 16.73 0.56
Q2 2022 17.36 (27.4 %) 0.58 - 17.36 0.58

Profitability

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 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 21.87 % 13.81 % 10.55 %
Q1 2022 22.27 % 14.03 % 10.57 %
Q2 2022 22.39 % 13.20 % 9.51 %


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 - - - -
Q2 2020 - - - -
Q3 2020 - - - -
Q4 2020 - - - -
Q1 2021 30.00 - - -
Q2 2021 30.00 - - 14.70
Q3 2021 30.00 - - -
Q4 2021 30.00 2.58 2.46 15.78
Q1 2022 30.00 2.50 2.50 16.34
Q2 2022 30.00 2.28 2.28 16.25

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 21.32 21.32 3.27
Q2 2022 18.98 18.98 2.67

Business Segments (Million)

Compared With The
Period Operation and maintenance Sales of medical devices and revenue from after-sales maintenance services Construction Medications and Medical Supplies Meat and Food Eliminations
Q1 2021 123.04 8.50 10.54 7.37 2.34 (0.22)
Q2 2021 137.92 8.50 10.44 8.00 2.87 (1.64)
Q3 2021 145.75 12.85 8.66 5.88 4.01 (0.65)
Q4 2021 164.19 33.17 20.44 (4.60) 1.30 (9.20)
Q1 2022 130.15 11.47 11.04 8.94 3.48 (2.51)


Financial Ratios
Current
Market Cap (M Riyal) 1,578.00
Enterprise Value (EV) (M) 1,785.09
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 1.53
Book Value (BV) ( Riyal) 17.78
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 34.34
P/E (TTM) 34.34
Price/book 2.96
Return on Average Assets (%) (TTM) 4.3
Return on Average Equity (%) (TTM) 8.9
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Share Price

Scientific and Medical Equipment House Co.
52.60
0.50 0.96 %

Scientific and Medical Equipment House Co. (EQUIPMENT HOUSE)

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