Tibbiyah turns to losses of SAR 20.7 mln in H1 2022

Tibbiyah turns to losses of SAR 20.7 mln in H1 2022

29/08/2022 Argaam Exclusive

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Arabian International Healthcare Holding Co. (Tibbiyah) reported a net loss after Zakat and tax of SAR 20.7 million for the first half of 2022, against a profit of SAR 5.1 million in the same period a year earlier.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 249.24 215.24 (13.6 %)
Gross Income 57.73 40.80 (29.3 %)
Operating Income 9.40 (16.92) (280.1 %)
Net Income 5.10 (20.68) (505.8 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 0.25 (1.03) (505.8 %)

The losses were attributed to delayed sales in H1 2022 due to global supply chain disruptions and higher profitability due to COVID-19-related sales in H1 2021, in addition to investment in human capital to support the company’s ambitious growth strategy.



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 249.24 215.24 (13.6 %)
Gross Income 57.73 40.80 (29.3 %)
Operating Income 9.40 (16.92) (280.1 %)
Net Income 5.10 (20.68) (505.8 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 0.25 (1.03) (505.8 %)

Total shareholders’ equity (after excluding minority interest) stood at SAR 252.711 million as of June 30, 2022, compared to SAR 254.858 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2013 - - - - - -
H2 2013 - - - - - -
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 193.65 - 38.94 - (10.98) -
H2 2020 625.04 - 159.44 - 109.27 -
H1 2021 249.24 28.7 % 57.73 48.2 % 9.40 185.5 %
H2 2021 369.30 (40.9 %) 85.79 (46.2 %) 60.70 (44.4 %)
H1 2022 215.24 (13.6 %) 40.80 (29.3 %) (16.92) (280.1 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2013 - - - - - -
H2 2013 - - - - - -
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 (30.96) - (1.55) - (30.96) (1.55)
H2 2020 126.75 - 6.34 36.37 90.37 4.52
H1 2021 5.10 116.5 % 0.25 - 5.10 0.25
H2 2021 77.22 (39.1 %) 3.86 14.63 62.59 3.13
H1 2022 (20.68) (505.8 %) (1.03) - (20.68) (1.03)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2013 - - -
H2 2013 - - -
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 24.23 % 12.88 % 7.26 %
H1 2021 24.84 % 14.38 % 10.92 %
H2 2021 23.20 % 12.41 % 10.94 %
H1 2022 21.66 % 8.60 % 7.17 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2013 - - - -
H2 2013 - - - -
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 20.00 - - -
H2 2020 20.00 4.79 2.97 16.62
H1 2021 20.00 6.59 4.77 12.74
H2 2021 20.00 4.12 3.38 16.67
H1 2022 20.00 2.83 2.10 12.64

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2013 - - -
H2 2013 - - -
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 18.43 24.86 4.12

Business Segments (Million)

Compared With The
Period Medical devices Medical supplies Other activities
Q2 2021 123.93 125.30 -
Q4 2021 180.28 189.03 -
Q2 2022 73.94 141.30 -


Financial Ratios
Current
Market Cap (M Riyal) 770.00
Enterprise Value (EV) (M) 1,211.97
Shares Outstanding ((M)) 20.00
Book Value (BV) ( Riyal) 15.33
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
Price/book 2.51
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Share Price

Arabian International Healthcare Holding Co.
38.50
0.50 1.32 %

Arabian International Healthcare Holding Co. (TIBBIYAH)

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