Naba Alsaha profit rises 80% to SAR 27.8 mln in H1 2023

Naba Alsaha profit rises 80% to SAR 27.8 mln in H1 2023

03/09/2023 Argaam Exclusive

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Naba Alsaha Medical Services Co. posted a net profit of SAR 27.8 million in H1 2023, up 80% from SAR 15.4 million a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 62.90 81.84 30.1 %
Gross Income 27.34 33.63 23.0 %
Operating Income 15.65 18.66 19.3 %
Net Income 15.39 27.77 80.4 %
Average Shares 10.50 10.50 -
EPS (Riyals) 1.47 2.64 80.4 %

The profit increase was driven by a 30.1% or SAR 18.94 million increase in revenue to SAR 81.84 million compared to the previous period as income from outpatient clinics and inpatients rose by 15% and 22%, respectively, year-on-year (YoY).

 

 In addition, Al-Anwar Medical Hospital reported a revenue of SAR 4.63 million for the six-month period, which led to an increase in the company’s net profit by SAR 12.38 million or 80.4% YoY.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 62.90 81.84 30.1 %
Gross Income 27.34 33.63 23.0 %
Operating Income 15.65 18.66 19.3 %
Net Income 15.39 27.77 80.4 %
Average Shares 10.50 10.50 -
EPS (Riyals) 1.47 2.64 80.4 %

Shareholders’ equity, no minority interest, stood at SAR 155.69 million as of June 30, 2023, compared to SAR 118.25 million a year earlier.

 

Quarterly Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

56.56

14.23

2.03

H2 2021

61.12

11.60

1.66

H1 2022

62.90

15.39

2.20

H2 2022

66.78

11.53

1.65

H1 2023

81.84

27.77

3.97

 

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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 - - - - - -
H2 2020 - - - - - -
H1 2021 56.56 - 23.16 - 14.17 -
H2 2021 61.12 - 23.63 - 12.80 -
H1 2022 62.90 11.2 % 27.34 18.1 % 15.65 10.4 %
H2 2022 66.79 9.3 % 24.31 2.9 % 12.67 (1.0 %)
H1 2023 81.84 30.1 % 33.63 23.0 % 18.66 19.3 %


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 - - - - - -
H2 2020 - - - - - -
H1 2021 14.23 - 1.36 - 14.23 1.36
H2 2021 11.60 - 1.10 - 11.60 1.10
H1 2022 15.39 8.2 % 1.47 - 15.39 1.47
H2 2022 11.53 (0.6 %) 1.10 - 11.53 1.10
H1 2023 27.77 80.4 % 2.64 9.66 18.11 1.72

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 - - -
H1 2021 - - -
H2 2021 39.75 % 28.12 % 21.95 %
H1 2022 41.09 % 27.54 % 21.76 %
H2 2022 39.82 % 27.05 % 20.76 %
H1 2023 38.98 % 26.64 % 19.94 %


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 - - - -
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
H2 2022 10.50 2.56 2.56 12.38
H1 2023 10.50 3.74 2.82 14.83

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 - - -
H2 2022 11.17 11.17 2.31
H1 2023 12.82 16.99 3.24

Business Segments (Million)

Compared With The
Period Medical Services Pharmaceuticals
Q2 2022 57.77 5.13
Q4 2022 61.09 5.70
Q2 2023 76.10 5.74


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
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Share Price

Naba Alsaha Medical Services Co.
81.00
0.00 0.00 %

Naba Alsaha Medical Services Co. (NABA ALSAHA)

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