AME profit rises 20% to SAR 26.6M in H1 2024

AME profit rises 20% to SAR 26.6M in H1 2024

22/08/2024 Argaam Exclusive

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AME Company for Medical Supplies posted a net profit rise of 20% to SAR 26.6 million in H1 2024 from SAR 22.2 million in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 120.34 133.82 11.2 %
Gross Income 55.69 58.55 5.1 %
Operating Income 24.01 27.78 15.7 %
Net Income 22.20 26.59 19.8 %
Average Shares 7.00 7.00 -
EPS (Riyals) 3.17 3.80 19.8 %

The profit growth was attributed to higher sales of medical supplies and devices by SAR 13.48 million.

 

This increase resulted from the company's acquisition of a larger market share, which reflected growth in sales driven by increased market demand and effective sales strategies by acquiring new customers and introducing new products to the same existing customers. 

 

The company advertised and marketed products. It also appointed new employees in the sales and marketing departments for greater coverage and faster response to customers.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 120.34 133.82 11.2 %
Gross Income 55.69 58.55 5.1 %
Operating Income 24.01 27.78 15.7 %
Net Income 22.20 26.59 19.8 %
Average Shares 7.00 7.00 -
EPS (Riyals) 3.17 3.80 19.8 %

Shareholders’ equity, with no minority interest, reached SAR 139.7 million as of June 30, 2024, up from SAR 115.5 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

H1 2024

133.82

26.59

3.80

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
H1 2024 133.82 11.2 % 58.55 5.1 % 27.78 15.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
H1 2024 26.59 19.8 % 3.80 - 26.59 3.80

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
H1 2024 42.91 % 17.74 % 16.01 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
H1 2024 7.00 5.42 5.42 19.97

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
H1 2024 10.80 10.80 2.93

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
Q2 2024 104.08 26.14 3.24 0.36


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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