Al Hammadi reports 74% profit rise to SAR 62 mln in Q1 2022

Al Hammadi reports 74% profit rise to SAR 62 mln in Q1 2022

19/05/2022 Argaam Exclusive

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Al Hammadi Company for Development and Investment reported a net profit after Zakat and tax of SAR 62 million for Q1 2022, a surge of 74% from SAR 35.5 million a year earlier.

 



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 226.29 250.89 10.9 %
Gross Income 87.41 96.08 9.9 %
Operating Income 22.69 65.16 187.1 %
Net Income 35.54 61.96 74.4 %
Average Shares 160.00 160.00 -
EPS (Riyals) 0.22 0.39 74.4 %

The profit growth was driven by an increase in revenue from the medical services segment of Al Hammadi Hospital Nuzha and Suwaidi branches due to increased number of outpatients and inpatients compared to Q1 2021.

 

The company also recorded a decrease in provisions for credit losses for the current quarter.

 

The healthcare services provider’s Q1 2022 net profit after Zakat and tax jumped over five times from SAR 19.7 million in Q4 2021.

 

Shareholders’ equity, after minority interest, declined to SAR 1.674 billion by the end of Q1 2022, from SAR 1.675 billion a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2013 104.84 - 47.34 - 30.09 -
Q2 2013 108.85 - 45.84 - 22.74 -
Q3 2013 96.26 - 36.81 - 19.02 -
Q4 2013 124.13 - 55.17 - 34.34 -
Q1 2014 122.04 16.4 % 54.71 15.6 % 35.96 19.5 %
Q2 2014 121.66 11.8 % 53.68 17.1 % 35.77 57.3 %
Q3 2014 108.83 13.1 % 44.74 21.5 % 24.77 30.3 %
Q4 2014 129.43 4.3 % 55.99 1.5 % 34.52 0.5 %
Q1 2015 129.48 6.1 % 50.64 (7.4 %) 33.35 (7.3 %)
Q2 2015 137.36 12.9 % 63.56 18.4 % 37.91 6.0 %
Q3 2015 136.80 25.7 % 57.97 29.6 % 31.92 28.8 %
Q4 2015 157.70 21.8 % 68.06 21.6 % 40.39 17.0 %
Q1 2016 144.16 11.3 % 54.75 8.1 % 26.66 (20.0 %)
Q2 2016 138.08 0.5 % 57.56 (9.5 %) 27.63 (27.1 %)
Q3 2016 141.35 3.3 % 56.48 (2.6 %) 25.97 (18.6 %)
Q4 2016 182.65 15.8 % 73.35 7.8 % 18.58 (54.0 %)
Q1 2017 180.23 25.0 % 62.02 13.3 % 33.61 26.0 %
Q2 2017 176.71 28.0 % 58.16 1.0 % 32.88 19.0 %
Q3 2017 163.01 15.3 % 53.91 (4.5 %) 26.46 1.9 %
Q4 2017 188.69 3.3 % 65.08 (11.3 %) 33.93 82.6 %
Q1 2018 200.67 11.3 % 66.84 7.8 % 38.29 13.9 %
Q2 2018 214.49 21.4 % 53.28 (8.4 %) 28.26 (14.0 %)
Q3 2018 250.40 53.6 % 64.92 20.4 % 31.19 17.9 %
Q4 2018 228.04 20.9 % 65.32 0.4 % 29.53 (13.0 %)
Q1 2019 229.68 14.5 % 65.60 (1.9 %) 27.20 (29.0 %)
Q2 2019 253.83 18.3 % 71.08 33.4 % 30.95 9.5 %
Q3 2019 220.00 (12.1 %) 62.22 (4.2 %) 31.85 2.1 %
Q4 2019 270.55 18.6 % 83.72 28.2 % 39.60 34.1 %
Q1 2020 206.69 (10.0 %) 66.48 1.3 % 33.84 24.4 %
Q2 2020 244.30 (3.8 %) 90.81 27.7 % 53.15 71.8 %
Q3 2020 207.85 (5.5 %) 77.59 24.7 % 43.13 35.4 %
Q4 2020 230.47 (14.8 %) 68.48 (18.2 %) 19.33 (51.2 %)
Q1 2021 226.29 9.5 % 87.41 31.5 % 22.69 (32.9 %)
Q2 2021 223.90 (8.4 %) 79.96 (11.9 %) 33.63 (36.7 %)
Q3 2021 219.92 5.8 % 88.16 13.6 % 49.65 15.1 %
Q4 2021 281.78 22.3 % 108.53 58.5 % 19.27 (0.3 %)
Q1 2022 250.89 10.9 % 96.08 9.9 % 65.16 187.1 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 29.83 - 0.19 - 29.83 0.19
Q2 2013 30.06 - 0.19 - 24.06 0.15
Q3 2013 18.32 - 0.11 - 18.32 0.11
Q4 2013 33.29 - 0.21 - 33.29 0.21
Q1 2014 34.23 14.7 % 0.21 - 34.23 0.21
Q2 2014 35.60 18.4 % 0.22 - 35.60 0.22
Q3 2014 25.42 38.7 % 0.16 - 25.42 0.16
Q4 2014 33.71 1.2 % 0.21 - 33.71 0.21
Q1 2015 41.01 19.8 % 0.26 9.80 31.21 0.20
Q2 2015 36.89 3.6 % 0.23 - 36.89 0.23
Q3 2015 27.69 8.9 % 0.17 - 27.69 0.17
Q4 2015 35.75 6.0 % 0.22 - 35.75 0.22
Q1 2016 21.14 (48.5 %) 0.13 - 21.14 0.13
Q2 2016 20.63 (44.1 %) 0.13 - 20.63 0.13
Q3 2016 20.73 (25.1 %) 0.13 - 20.73 0.13
Q4 2016 10.48 (70.7 %) 0.07 - 10.48 0.07
Q1 2017 27.97 32.3 % 0.17 - 27.97 0.17
Q2 2017 25.66 24.4 % 0.16 - 25.66 0.16
Q3 2017 23.59 13.8 % 0.15 - 23.59 0.15
Q4 2017 30.76 193.4 % 0.19 - 30.76 0.19
Q1 2018 30.88 10.4 % 0.19 - 30.88 0.19
Q2 2018 19.93 (22.3 %) 0.12 - 19.93 0.12
Q3 2018 21.31 (9.7 %) 0.13 - 21.31 0.13
Q4 2018 17.70 (42.5 %) 0.11 - 17.70 0.11
Q1 2019 24.17 (21.7 %) 0.15 - 24.17 0.15
Q2 2019 20.01 0.4 % 0.13 - 20.01 0.13
Q3 2019 21.17 (0.6 %) 0.13 - 21.17 0.13
Q4 2019 27.65 56.2 % 0.17 - 27.65 0.17
Q1 2020 24.94 3.2 % 0.16 - 24.94 0.16
Q2 2020 39.10 95.4 % 0.24 (4.99) 44.10 0.28
Q3 2020 36.57 72.7 % 0.23 - 36.57 0.23
Q4 2020 30.21 9.3 % 0.19 - 30.21 0.19
Q1 2021 35.54 42.5 % 0.22 - 35.54 0.22
Q2 2021 40.31 3.1 % 0.25 - 40.31 0.25
Q3 2021 3.58 (90.2 %) 0.02 (39.18) 42.76 0.27
Q4 2021 10.67 (64.7 %) 0.07 (9.69) 20.36 0.13
Q1 2022 61.96 74.4 % 0.39 - 61.96 0.39

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 42.66 % 27.60 % 24.31 %
Q1 2014 42.66 % 27.85 % 24.35 %
Q2 2014 43.18 % 29.90 % 26.17 %
Q3 2014 43.70 % 30.34 % 26.97 %
Q4 2014 43.39 % 30.09 % 26.75 %
Q1 2015 41.90 % 29.13 % 25.73 %
Q2 2015 42.55 % 28.68 % 25.19 %
Q3 2015 42.80 % 29.71 % 24.29 %
Q4 2015 42.80 % 31.06 % 23.43 %
Q1 2016 42.42 % 30.79 % 21.09 %
Q2 2016 41.32 % 30.64 % 18.24 %
Q3 2016 40.74 % 29.96 % 16.90 %
Q4 2016 39.94 % 25.11 % 12.04 %
Q1 2017 38.83 % 24.74 % 12.43 %
Q2 2017 36.71 % 24.09 % 12.46 %
Q3 2017 35.22 % 23.41 % 12.48 %
Q4 2017 33.75 % 25.39 % 15.24 %
Q1 2018 33.46 % 26.03 % 15.21 %
Q2 2018 31.18 % 25.45 % 13.71 %
Q3 2018 29.28 % 24.60 % 12.04 %
Q4 2018 28.02 % 24.14 % 10.05 %
Q1 2019 27.00 % 22.96 % 9.01 %
Q2 2019 27.75 % 22.56 % 8.65 %
Q3 2019 28.36 % 23.59 % 8.92 %
Q4 2019 29.01 % 23.82 % 9.55 %
Q1 2020 29.81 % 25.12 % 9.86 %
Q2 2020 32.21 % 27.70 % 12.52 %
Q3 2020 34.28 % 29.29 % 14.34 %
Q4 2020 34.11 % 28.49 % 15.27 %
Q1 2021 35.68 % 26.87 % 16.11 %
Q2 2021 35.28 % 25.58 % 16.05 %
Q3 2021 35.98 % 26.21 % 16.52 %
Q4 2021 38.24 % 24.65 % 14.60 %
Q1 2022 38.17 % 28.20 % 16.94 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 160.00 - - 3.74
Q2 2013 160.00 - - 3.67
Q3 2013 160.00 - - 3.78
Q4 2013 160.00 0.70 0.66 3.66
Q1 2014 160.00 0.72 0.69 3.87
Q2 2014 160.00 0.76 0.76 7.88
Q3 2014 160.00 0.80 0.80 8.04
Q4 2014 160.00 0.81 0.81 8.25
Q1 2015 160.00 0.85 0.79 8.51
Q2 2015 160.00 0.86 0.80 8.27
Q3 2015 160.00 0.87 0.81 8.44
Q4 2015 160.00 0.88 0.82 8.66
Q1 2016 160.00 0.76 0.76 8.80
Q2 2016 160.00 0.66 0.66 8.37
Q3 2016 160.00 0.61 0.61 8.50
Q4 2016 160.00 0.46 0.46 8.56
Q1 2017 160.00 0.50 0.50 8.75
Q2 2017 160.00 0.53 0.53 8.89
Q3 2017 160.00 0.55 0.55 9.04
Q4 2017 160.00 0.67 0.67 8.67
Q1 2018 160.00 0.69 0.69 8.85
Q2 2018 160.00 0.66 0.66 8.98
Q3 2018 160.00 0.64 0.64 9.11
Q4 2018 160.00 0.56 0.56 9.24
Q1 2019 160.00 0.52 0.52 9.40
Q2 2019 160.00 0.52 0.52 9.51
Q3 2019 160.00 0.52 0.52 9.63
Q4 2019 160.00 0.58 0.58 9.79
Q1 2020 160.00 0.59 0.59 9.95
Q2 2020 160.00 0.71 0.74 10.21
Q3 2020 160.00 0.80 0.83 10.42
Q4 2020 160.00 0.82 0.85 10.62
Q1 2021 160.00 0.88 0.92 10.47
Q2 2021 160.00 0.89 0.89 10.73
Q3 2021 160.00 0.69 0.93 10.75
Q4 2021 160.00 0.56 0.87 10.37
Q1 2022 160.00 0.73 1.03 10.47

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 51.42 51.42 5.14
Q4 2014 48.92 48.92 4.78
Q1 2015 51.53 55.54 5.14
Q2 2015 54.13 58.30 5.61
Q3 2015 44.33 47.69 4.57
Q4 2015 41.63 44.73 4.24
Q1 2016 36.41 36.41 3.14
Q2 2016 45.86 45.86 3.60
Q3 2016 36.32 36.32 2.62
Q4 2016 68.31 68.31 3.64
Q1 2017 61.37 61.37 3.50
Q2 2017 58.51 58.51 3.49
Q3 2017 47.94 47.94 2.91
Q4 2017 41.25 41.25 3.21
Q1 2018 39.28 39.28 3.07
Q2 2018 37.68 37.68 2.76
Q3 2018 32.21 32.21 2.27
Q4 2018 33.55 33.55 2.04
Q1 2019 35.91 35.91 1.98
Q2 2019 30.97 30.97 1.69
Q3 2019 32.09 32.09 1.73
Q4 2019 27.16 27.16 1.61
Q1 2020 24.17 24.17 1.42
Q2 2020 23.40 22.41 1.62
Q3 2020 27.10 26.08 2.08
Q4 2020 26.52 25.54 2.04
Q1 2021 24.66 23.82 2.08
Q2 2021 33.33 33.33 2.77
Q3 2021 42.10 31.02 2.68
Q4 2021 53.70 34.82 2.92
Q1 2022 46.73 32.92 3.25

Business Segments (Million)

Compared With The
Period healthy services and other Pharmaceutical sales revenue - Pharmacies
Q1 2017 150.74 29.49
Q2 2017 147.45 29.26
Q3 2017 136.70 26.31
Q4 2017 155.95 32.73
Q1 2018 140.85 59.82
Q2 2018 143.64 71.39
Q3 2018 140.83 109.03
Q4 2018 154.81 73.23
Q1 2019 146.91 82.77
Q2 2019 151.05 102.78
Q3 2019 149.00 71.00
Q4 2019 177.92 92.62
Q1 2020 152.48 54.21
Q2 2020 192.83 51.46
Q3 2020 47.34 35.26
Q4 2020 185.43 45.04
Q1 2021 168.82 57.47
Q2 2021 163.87 60.02
Q3 2021 180.27 39.64
Q4 2021 224.93 56.85
Q1 2022 195.39 55.50

Analysts Estimates (Million)

Item Q1 2022 (e) Q1 2022 (a) Change‬
Average 33.38 61.96 85.61 %

Estimates vs Actual (Million)

Item Q1 2022 (e) Q1 2022 (a) Change
Hermes 43.00 61.96 44.1 %
OSOOL AND BAKHEET 35.51 61.96 74.5 %
AlJazira Capital 34.40 61.96 80.1 %
Al Rajhi Capital 31.00 61.96 99.9 %
SNB Capital 23.00 61.96 169.4 %


Financial Ratios
Current
Market Cap (M Riyal) 6,144.00
Enterprise Value (EV) (M) 5,905.92
Shares Outstanding ((M)) 160.00
EPS ( Riyal) (TTM) 2.04
Book Value (BV) ( Riyal) 12.11
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 23.23
P/E (TTM) 18.83
Price/book 3.17
Return on Average Assets (%) (TTM) 12.5
Return on Average Equity (%) (TTM) 17.3
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Share Price

Al Hammadi Holding
38.40
(0.60) (1.54 %)

Al Hammadi Holding (ALHAMMADI)

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