Al-Modawat 2023 profit jumps 80% to SAR 18.6M
31/03/2024
Argaam Exclusive
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Al-Modawat Specialized Medical Co.’s net profit leapt 80% to SAR 18.6 million in 2023, from SAR 10.3 million a year earlier.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 58.57 | 74.31 | 26.9 % |
| Gross Income | 28.52 | 40.63 | 42.5 % |
| Operating Income | 11.44 | 20.17 | 76.3 % |
| Net Income | 10.31 | 18.59 | 80.3 % |
| Average Shares | 19.00 | 19.00 | - |
| EPS (Riyals) | 0.54 | 0.98 | 80.3 % |
The company posted higher revenues due to the opening of new departments such as neurology and the increase in the number of internists.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 33.26 | 37.13 | 11.6 % |
| Gross Income | 16.61 | 19.23 | 15.8 % |
| Operating Income | 7.40 | 8.65 | 17.0 % |
| Net Income | 6.67 | 7.66 | 14.8 % |
| Average Shares | 19.00 | 19.00 | - |
| EPS (Riyals) | 0.35 | 0.40 | 14.8 % |
Total shareholders’ equity, no minority interest, stood at SAR 39.25 million by the end of 2023, compared to SAR 30.98 million a year before.
|
Historical Data |
|||
|
Period |
Revenues (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2022 |
25.30 |
3.64 |
1.92 |
|
H2 2022 |
33.27 |
6.67 |
3.51 |
|
H1 2023 |
37.18 |
10.93 |
5.75 |
|
H2 2023 |
37.13 |
7.66 |
4.03 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 37.18 | 46.9 % | 21.40 | 79.8 % | 11.52 | 184.6 % |
| H2 2023 | 37.13 | 11.6 % | 19.23 | 15.8 % | 8.65 | 17.0 % |
| 2023 | 74.31 | 26.9 % | 40.63 | 42.5 % | 20.17 | 76.3 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 10.93 | 200.4 % | 0.58 | - | 10.93 | 0.58 |
| H2 2023 | 7.66 | 14.8 % | 0.40 | - | 7.66 | 0.40 |
| 2023 | 18.59 | 80.3 % | 0.98 | - | 18.59 | 0.98 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 53.96 % | 30.58 % | 25.00 % |
| H2 2023 | 54.67 % | 29.50 % | 25.02 % |
| 2023 | 54.68 % | 29.50 % | 25.02 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 19.00 | 0.93 | 0.93 | 1.95 |
| H2 2023 | 19.00 | 0.98 | 0.98 | 2.07 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | - | - | - |
| H2 2023 | - | - | - |
Business Segments (Million)
Q4 2023
| Period | Medical Services | Pharmaceutical Products |
|---|---|---|
| Q2 2023 | 35.50 | 1.67 |
| Q4 2023 | 35.40 | 1.73 |
| Current | |
| Market Cap (M Riyal) | 364.33 |
| Enterprise Value (EV) (M) | 370.46 |
| Shares Outstanding ((M)) | 23.75 |
| Book Value (BV) ( Riyal) | 2.07 |
| Par Value ( Riyal) | 1.00 |
| Adjusted P/E (Last12) | 19.60 |
| Price/book | 9.28 |
Share Price
Al-Modawat Specialized Medical Co. (ALMODAWAT)
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