Naba Alsaha earns SAR 13M in H1 2024

Naba Alsaha earns SAR 13M in H1 2024

25/08/2024 Argaam Exclusive

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Naba Alsaha Medical Services Co. reported a net profit of SAR 13 million in the first half of 2024, compared to SAR 27.8 million in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 81.84 96.27 17.6 %
Gross Income 33.63 31.53 (6.3 %)
Operating Income 18.66 14.69 (21.3 %)
Net Income 27.77 13.04 (53.0 %)
Average Shares 10.50 10.50 -
EPS (Riyals) 2.64 1.24 (53.0 %)


Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 81.84 96.27 17.6 %
Gross Income 33.63 31.53 (6.3 %)
Operating Income 18.66 14.69 (21.3 %)
Net Income 27.77 13.04 (53.0 %)
Average Shares 10.50 10.50 -
EPS (Riyals) 2.64 1.24 (53.0 %)
The lower profit was attributed to the one-off gains included on the acquisition of Al-Anwar Medical Hospital in Hail during H1 2023. Naba Alsaha opened new facilities at the newly-acquired hospital, which led the company to incur higher operating expenses. The positive financial impact of these expansions is expected to show in H1 2025.
Meanwhile, Naba Alsaha reported higher revenue on the increased inpatient and outpatient count, as well as the improved utilization rate.
Shareholders’ equity, no minority interest, reached SAR 193.13 million as of June 30, 2024, up from SAR 155.68 million a year earlier.
 

Historical 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

2.64

H2 2023

100.51

24.61

2.34

H1 2024

96.27

13.04

1.24
 

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 - - - - - -
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 %
H2 2023 100.51 50.5 % 40.14 65.1 % 24.31 91.9 %
H1 2024 96.27 17.6 % 31.53 (6.3 %) 14.69 (21.3 %)


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 - - - - - -
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
H2 2023 24.61 113.5 % 2.34 - 24.61 2.34
H1 2024 13.04 (53.0 %) 1.24 - 13.04 1.24

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 - - -
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 %
H2 2023 40.45 % 28.77 % 23.43 %
H1 2024 36.42 % 25.07 % 19.14 %


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 - - - -
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
H2 2023 10.50 4.99 4.07 17.15
H1 2024 10.50 3.59 3.59 18.39

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 - - -
H2 2022 11.17 11.17 2.31
H1 2023 12.82 16.99 3.24
H2 2023 12.03 14.75 3.50
H1 2024 29.00 29.00 5.65

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
Q4 2023 94.29 6.22
Q2 2024 90.39 5.89


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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