AME profit rises 26% to SAR 33.5M in 2023

AME profit rises 26% to SAR 33.5M in 2023

25/03/2024 Argaam Exclusive

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AME Company for Medical Supplies posted a net profit rise of 26% to SAR 33.5 million in 2023 from SAR 26.7 million in 2022.



Financials (M)

Item 2022 2023 Change‬
Revenues 193.17 223.32 15.6 %
Gross Income 90.28 98.75 9.4 %
Operating Income 29.98 36.48 21.7 %
Net Income 26.68 33.52 25.6 %
Average Shares 7.00 7.00 -
EPS (Riyals) 3.81 4.79 25.6 %

The company recorded a rise in the annual net revenue (net sales revenues) by SAR 30.15 million, mainly due to increased sales of medical supplies and medical equipment. This increase was backed by AME capturing a larger market share.



Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬
Revenues 84.82 102.98 21.4 %
Gross Income 41.42 43.06 4.0 %
Operating Income 12.72 12.47 (2.0 %)
Net Income 11.31 11.32 0.1 %
Average Shares 7.00 7.00 -
EPS (Riyals) 1.62 1.62 0.1 %

Shareholders’ equity, no minority interest, reached SAR 127.16 million as of Dec. 31, 2023, up from SAR 107.34 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2020

44.66

4.18

0.60

H2 2020

76.94

16.89

2.41

H1 2021

69.78

7.50

1.07

H2 2021

81.61

13.72

1.96

H1 2022

108.35

15.38

2.20

H2 2022

84.82

11.30

1.61

H1 2023

120.34

22.20

3.17

H2 2023

102.98

11.32

1.62

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 44.66 - 22.01 - 4.94 -
H2 2020 76.94 - 33.27 - 17.70 -
H1 2021 69.78 56.2 % 32.00 45.4 % 13.27 168.5 %
H2 2021 81.60 6.1 % 37.54 12.8 % 15.70 (11.3 %)
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 %)
H1 2023 120.34 11.1 % 55.69 14.0 % 24.01 39.2 %
H2 2023 102.98 21.4 % 43.06 4.0 % 12.47 (2.0 %)
2023 223.32 15.6 % 98.75 9.4 % 36.48 21.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 4.18 - 0.60 - 4.18 0.60
H2 2020 16.89 - 2.41 - 16.89 2.41
H1 2021 7.50 79.3 % 1.07 (4.32) 11.82 1.69
H2 2021 13.72 (18.7 %) 1.96 (0.15) 13.87 1.98
H1 2022 15.38 105.1 % 2.20 - 15.38 2.20
H2 2022 11.31 (17.6 %) 1.62 - 11.31 1.62
H1 2023 22.20 44.4 % 3.17 - 22.20 3.17
H2 2023 11.32 0.1 % 1.62 - 11.32 1.62
2023 33.52 25.6 % 4.79 - 33.52 4.79

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 45.46 % 18.86 % 17.33 %
H1 2021 44.49 % 21.31 % 19.57 %
H2 2021 45.94 % 19.44 % 16.97 %
H1 2022 45.49 % 17.71 % 15.40 %
H2 2022 46.74 % 15.96 % 13.81 %
H1 2023 47.34 % 18.49 % 16.33 %
H2 2023 44.22 % 17.02 % 15.01 %
2023 44.22 % 17.02 % 15.01 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 7.00 - - 3.20
H2 2020 7.00 3.01 3.01 9.08
H1 2021 7.00 3.48 4.10 11.72
H2 2021 7.00 3.03 3.67 13.34
H1 2022 7.00 4.16 4.18 13.79
H2 2022 7.00 3.81 3.81 15.34
H1 2023 7.00 4.79 4.79 16.51
H2 2023 7.00 4.79 4.79 18.17

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 10.46 10.41 3.15
H2 2022 9.16 9.16 2.28
H1 2023 9.86 9.86 2.86
H2 2023 10.48 10.48 2.76

Business Segments (Million)

Compared With The
Period Medical supplies Medical equipment sales Real Estate Management Others
Q2 2020 34.27 8.38 1.86 0.15
Q4 2020 65.25 9.20 2.45 0.04
Q2 2021 51.04 15.33 3.24 0.18
Q4 2021 67.96 11.75 2.07 -
Q2 2022 83.97 21.46 2.76 0.15
Q4 2022 68.80 10.79 3.09 2.13
Q2 2023 94.68 22.95 2.52 0.18
Q4 2023 83.22 13.73 2.90 3.13


Financial Ratios
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
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Share Price

AME Company for Medical Supplies
98.70
(0.20) (0.20 %)

AME Company for Medical Supplies (AME)

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