Naba Alsaha 2023 profit soars 95% to SAR 52.4M
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Naba Alsaha Medical Services Co. reported a net profit surge of 95% to SAR 52.4 million in 2023, compared to SAR 26.9 million in 2022.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 129.68 | 182.35 | 40.6 % |
| Gross Income | 51.64 | 73.77 | 42.9 % |
| Operating Income | 28.31 | 42.97 | 51.8 % |
| Net Income | 26.92 | 52.38 | 94.6 % |
| Average Shares | 10.50 | 10.50 | - |
| EPS (Riyals) | 2.56 | 4.99 | 94.6 % |
The profit increase was driven by a 40.6% or SAR 52.67 million increase in revenue to SAR 182.35 million compared to the previous period as income from outpatient clinics and inpatients rose by 14% and 31%, respectively, year-on-year (YoY).
In addition, Al-Anwar Medical Hospital reported a revenue of SAR 20.14 million.
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 66.79 | 100.51 | 50.5 % |
| Gross Income | 24.31 | 40.14 | 65.1 % |
| Operating Income | 12.67 | 24.31 | 91.9 % |
| Net Income | 11.53 | 24.61 | 113.5 % |
| Average Shares | 10.50 | 10.50 | - |
| EPS (Riyals) | 1.10 | 2.34 | 113.5 % |
Shareholders’ equity stood at SAR 180.09 million as of Dec. 31, 2023, compared to SAR 130.01 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
56.56 |
14.23 |
1.36 |
|
H2 2021 |
61.12 |
11.60 |
1.10 |
|
H1 2022 |
62.90 |
15.39 |
1.47 |
|
H2 2022 |
66.78 |
11.53 |
1.10 |
|
H1 2023 |
81.84 |
27.77 |
2.64 |
|
H2 2023 |
100.51 |
24.61 |
2.34 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 81.84 | 30.1 % | 33.63 | 23.0 % | 18.66 | 19.3 % |
| H2 2023 | 100.51 | 50.5 % | 40.14 | 65.1 % | 24.31 | 91.9 % |
| 2023 | 182.35 | 40.6 % | 73.77 | 42.9 % | 42.97 | 51.8 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 27.77 | 80.4 % | 2.64 | 9.66 | 18.11 | 1.72 |
| H2 2023 | 24.61 | 113.5 % | 2.34 | - | 24.61 | 2.34 |
| 2023 | 52.38 | 94.6 % | 4.99 | 9.66 | 42.73 | 4.07 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 38.98 % | 26.64 % | 19.94 % |
| H2 2023 | 40.45 % | 28.77 % | 23.43 % |
| 2023 | 40.45 % | 28.77 % | 23.43 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 10.50 | 3.74 | 2.82 | 14.83 |
| H2 2023 | 10.50 | 4.99 | 4.07 | 17.15 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | 12.82 | 16.99 | 3.24 |
| H2 2023 | 12.03 | 14.75 | 3.50 |
Business Segments (Million)
Q4 2023
| Period | Medical Services | Pharmaceuticals |
|---|---|---|
| Q2 2023 | 76.10 | 5.74 |
| Q4 2023 | 94.29 | 6.22 |
| 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 |
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