Naba Alsaha posts 8% growth in H1 2022 net profit to SAR 15.4 mln

15/09/2022 Argaam Exclusive

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Naba Alsaha Medical Services Co. posted a rise of 8% in H1 2022 net profit after Zakat and tax to SAR 15.4 million, compared to SAR 14.2 million in the year-earlier period.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	56.56	62.90	11.2 %
Gross Income	23.16	27.34	18.1 %
Operating Income	14.17	15.65	10.4 %
Net Income	14.23	15.39	8.2 %
Average Shares	10.50	10.50	-
EPS (Riyals)	1.36	1.47	8.2 %

The profit growth was spurred by eased COVID-19 restrictions, which led to a significant improvement in outpatient revenues. Accordingly, it had a positive impact on improving the bed occupancy rate in the suites, which stood at 97% during the first half of 2022 compared to 86% in H1 2021.

Shareholders equity, after minority interest, reached SAR 118.25 million as of June 30, 2022, up from SAR 102.86 million a year earlier.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2021	H1 2022	Change‬
Revenues	56.56	62.90	11.2 %
Gross Income	23.16	27.34	18.1 %
Operating Income	14.17	15.65	10.4 %
Net Income	14.23	15.39	8.2 %
Average Shares	10.50	10.50	-
EPS (Riyals)	1.36	1.47	8.2 %

Item	H2 2021	H1 2022	Change‬
Revenues	61.12	62.90	2.9 %
Gross Income	23.63	27.34	15.7 %
Operating Income	12.80	15.65	22.2 %
Net Income	11.60	15.39	32.7 %
Average Shares	10.50	10.50	-
EPS (Riyals)	1.10	1.47	32.7 %

Naba Alsaha restated its 2021 financial statements to accommodate the first time adoption of “IFRS 16 – Leases”. Required adjustments and disclosure were made in that financial statements in accordance with “IAS 8 - Accounting policies, change in accounting estimates and errors”.

Accordingly, required adjustments were also made to the comparative figures in these condensed interim financial statements for the six months period ended June 30, 2022.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2013	-	-	-	-	-	-
H2 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	115.68	-	45.93	-	27.65	-
H1 2021	56.56	-	23.16	-	14.17	-
H2 2021	61.12	-	23.63	-	12.80	-
2021	117.68	1.7 %	46.78	1.9 %	26.97	(2.4 %)
H1 2022	62.90	11.2 %	27.34	18.1 %	15.65	10.4 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	115.68	-	45.93	-	27.65	-
2021	117.68	1.7 %	46.78	1.9 %	26.97	(2.4 %)

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	-	-	-	-	-	-
2013	-	-	-	-	-	-
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	26.65	-	2.54	-	26.65	2.54
H1 2021	14.23	-	1.36	-	14.23	1.36
H2 2021	11.60	-	1.10	-	11.60	1.10
2021	25.83	(3.1 %)	2.46	-	25.83	2.46
H1 2022	15.39	8.2 %	1.47	-	15.39	1.47

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	26.65	-	2.54	-	26.65	2.54
2021	25.83	(3.1 %)	2.46	-	25.83	2.46

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2013	-	-	-
H2 2013	-	-	-
2013	-	-	-
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
2020	39.71 %	29.16 %	23.04 %
H1 2021	-	-	-
H2 2021	39.75 %	28.12 %	21.95 %
2021	39.75 %	28.12 %	21.95 %
H1 2022	41.09 %	27.54 %	21.76 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	39.71 %	29.16 %	23.04 %
2021	39.75 %	28.12 %	21.95 %

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	-	-	-
H1 2021	40.94 %	31.62 %	25.16 %
H2 2021	38.66 %	24.89 %	18.97 %
H1 2022	43.46 %	30.12 %	24.47 %

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	-	-	-	-
H2 2020	-	-	-	-
H1 2021	10.50	-	-	8.82
H2 2021	10.50	2.46	2.46	9.80
H1 2022	10.50	2.57	2.57	11.26

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	-	-	-	-
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	-	-	-	-
2020	10.50	2.54	2.54	7.47
2021	10.50	2.46	2.46	9.80

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	-	-	-

Period	P/E	Adjusted P/E	Price/book
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-

Business Segments (Million)

Compared With The

Period	Medical Services	Pharmaceuticals
Q2 2022	57.77	5.13

Period	Medical Services	Pharmaceuticals
2021	108.56	9.12

Financial Ratios

	Current
Market Cap (M Riyal)	850.50
Enterprise Value (EV) (M)	887.82
Shares Outstanding ((M))	10.50
Book Value (BV) ( Riyal)	17.15
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	19.91
Price/book	4.72

Naba Alsaha Medical Services Co. (NABA ALSAHA)

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Naba Alsaha posts 8% growth in H1 2022 net profit to SAR 15.4 mln

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million)

Revenue by Business Segment (Latest) 2022 Q2

Financial Ratios

Share Price

Naba Alsaha Medical Services Co. (NABA ALSAHA)

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Naba Alsaha posts 8% growth in H1 2022 net profit to SAR 15.4 mln

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million) Q2 2022

Revenue by Business Segment (Latest) 2022 Q2

Financial Ratios

Share Price

Naba Alsaha Medical Services Co. (NABA ALSAHA)

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Business Segments (Million)