ProMedEx profits leap 77% to SAR 9.2 mln in H1 2023

ProMedEx profits leap 77% to SAR 9.2 mln in H1 2023

03/09/2023 Argaam Exclusive

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Professional Medical Expertise Co. (ProMedEx) reported a net profit jump of 77% to SAR 9.2 million in the first half of 2023 from SAR 5.2 million in the prior-year period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 73.85 118.81 60.9 %
Gross Income 34.21 52.99 54.9 %
Operating Income 8.74 14.10 61.2 %
Net Income 5.18 9.16 76.9 %
Average Shares 3.50 3.50 -
EPS (Riyals) 1.48 2.62 76.9 %

The company attributed the profit growth to the rise in contracts concluded with clients.

 

Shareholders’ equity, no minority interest, rose to SAR 72.35 million as of June 30, 2023, from SAR 59.72 million a year earlier.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 73.85 118.81 60.9 %
Gross Income 34.21 52.99 54.9 %
Operating Income 8.74 14.10 61.2 %
Net Income 5.18 9.16 76.9 %
Average Shares 3.50 3.50 -
EPS (Riyals) 1.48 2.62 76.9 %

Historical Quarterly Performance

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

Profit Share

(SAR/ Share)

H1 2022

73.85

5.18

5.52

H2 2022

102.20

13.84

3.95

H1 2023

118.81

9.16

2.62

View More Financial Results

 


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 - - - - - -
H2 2021 - - - - - -
H1 2022 73.85 - 34.21 - 8.74 -
H2 2022 102.20 - 49.44 - 17.27 -
H1 2023 118.81 60.9 % 52.99 54.9 % 14.10 61.2 %


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 - - - - - -
H2 2021 - - - - - -
H1 2022 5.18 - 1.48 - 5.18 1.48
H2 2022 13.83 - 3.95 - 13.83 3.95
H1 2023 9.16 76.9 % 2.62 - 9.16 2.62

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 - - -
H1 2022 - - -
H2 2022 47.51 % 16.52 % 10.80 %
H1 2023 46.35 % 16.07 % 10.41 %


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 - - - -
H2 2021 - - - -
H1 2022 3.50 - - 17.06
H2 2022 3.50 5.43 5.43 20.91
H1 2023 3.50 6.57 6.57 20.67

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 - - -
H1 2023 - - -

Business Segments (Million)

Compared With The
Period Public sector sales Private sector sales
Q2 2022 44.16 29.69
Q4 2022 76.46 25.74
Q2 2023 82.13 36.68


Financial Ratios
Current
Market Cap (M Riyal) 320.25
Enterprise Value (EV) (M) 378.95
Shares Outstanding ((M)) 3.50
Book Value (BV) ( Riyal) 27.77
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 12.89
Price/book 3.29
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Share Price

Professional Medical Expertise Co.
91.50
2.50 2.81 %

Professional Medical Expertise Co. (PRO MEDEX)

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