AME’s 2022 profits grow 26% to SAR 26.7 mln
22/03/2023
Argaam Exclusive
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AME Company for Medical Supplies posted a 26% rise in 2022 net profit to SAR 26.7 million, from SAR 21.2 million a year earlier.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 151.39 | 193.17 | 27.6 % |
| Gross Income | 69.55 | 90.28 | 29.8 % |
| Operating Income | 28.96 | 29.98 | 3.5 % |
| Net Income | 21.22 | 26.68 | 25.7 % |
| Average Shares | 7.00 | 7.00 | - |
| EPS (Riyals) | 3.03 | 3.81 | 25.7 % |
The profit growth was driven by an increase of SAR 41.78 million year-on-year (YoY) in net revenue for 2022 (net sales proceeds), as well as a rise of SAR 33.8 million and SAR 8 million in the sales of in medical supplies and devices, respectively.
This surge resulted from the company’s acquisition of a larger market share thanks to its participation in local and international conferences, along with more effort to advertise and market its products.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 81.60 | 84.82 | 3.9 % |
| Gross Income | 37.54 | 41.42 | 10.3 % |
| Operating Income | 15.70 | 12.72 | (19.0 %) |
| Net Income | 13.72 | 11.31 | (17.6 %) |
| Average Shares | 7.00 | 7.00 | - |
| EPS (Riyals) | 1.96 | 1.62 | (17.6 %) |
Total shareholders’ equity, no minority interest, rose to SAR 107.3 million as of Dec. 31, 2022, compared to SAR 93.4 million in the year-earlier period.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 108.35 | 55.3 % | 48.86 | 52.7 % | 17.25 | 30.0 % |
| H2 2022 | 84.82 | 3.9 % | 41.42 | 10.3 % | 12.72 | (19.0 %) |
| 2022 | 193.17 | 27.6 % | 90.28 | 29.8 % | 29.98 | 3.5 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | 15.38 | 105.1 % | 2.20 | - | 15.38 | 2.20 |
| H2 2022 | 11.31 | (17.6 %) | 1.62 | - | 11.31 | 1.62 |
| 2022 | 26.68 | 25.7 % | 3.81 | - | 26.68 | 3.81 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 45.49 % | 17.71 % | 15.40 % |
| H2 2022 | 46.74 % | 15.96 % | 13.81 % |
| 2022 | 46.74 % | 15.96 % | 13.81 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 7.00 | 4.16 | 4.18 | 13.79 |
| H2 2022 | 7.00 | 3.81 | 3.81 | 15.34 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | 10.46 | 10.41 | 3.15 |
| H2 2022 | 9.16 | 9.16 | 2.28 |
Business Segments (Million)
Q4 2022
| Period | Medical supplies | Medical equipment sales | Real Estate Management | Others |
|---|---|---|---|---|
| Q2 2022 | 83.97 | 21.46 | 2.76 | 0.15 |
| Q4 2022 | 68.80 | 10.79 | 3.09 | 2.13 |
| Current | |
| Market Cap (M Riyal) | 690.90 |
| Enterprise Value (EV) (M) | 647.50 |
| Shares Outstanding ((M)) | 7.00 |
| Book Value (BV) ( Riyal) | 18.17 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 20.61 |
| Price/book | 5.43 |
Share Price
AME Company for Medical Supplies (AME)
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