Aldawaa 9M 2022 net profit up 27% to SAR 215.9 mln; Q3 at SAR 48.15 mln
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Aldawaa Medical Services Co. reported a net profit after Zakat and tax of SAR 215.9 million for the first nine months of 2022, an increase of 27%, compared to SAR 170.07 million in the year-earlier period.
Financials (M)
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 3,736.04 | 3,913.94 | 4.8 % |
| Gross Income | 1,361.32 | 1,485.91 | 9.2 % |
| Operating Income | 192.07 | 243.95 | 27.0 % |
| Net Income | 170.07 | 215.94 | 27.0 % |
| Average Shares | 85.00 | 85.00 | - |
| EPS (Riyals) | 2.00 | 2.54 | 27.0 % |
The company cited a 4.8% year-on-year (YoY) increase in revenue, and stronger gross and operating profits, in addition to improved sales.
Current Quarter Comparison (M)
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 1,259.56 | 1,308.93 | 3.9 % |
| Gross Income | 451.39 | 484.94 | 7.4 % |
| Operating Income | 50.81 | 82.69 | 62.7 % |
| Net Income | 38.29 | 48.15 | 25.7 % |
| Average Shares | 85.00 | 85.00 | - |
| EPS (Riyals) | 0.45 | 0.57 | 25.7 % |
Q3 2022 net profit after Zakat and tax increased 26% YoY to SAR 48.2 million, from SAR 38.29 million in a prior-year period, on a 4% YoY rise in revenue, 37% YoY higher gross profit, a 6.3% YoY growth in operating profit and stronger sales.
On a sequential basis, net profit dropped 40.3% from SAR 80.67 million.
Total shareholders’ equity, excluding minority rights, reached SAR 1.025 billion as of Sept. 30, 2022, compared to SAR 1.059 billion in prior-year period.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2022 | 1,294.82 | 7.0 % | 494.18 | 9.3 % | 70.71 | (4.9 %) |
| Q2 2022 | 1,310.19 | 3.4 % | 506.79 | 10.7 % | 90.55 | 35.3 % |
| Q3 2022 | 1,308.93 | 3.9 % | 484.94 | 7.4 % | 82.69 | 62.7 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2022 | 87.11 | 10.5 % | 1.02 | 38.14 | 48.97 | 0.58 |
| Q2 2022 | 80.67 | 52.4 % | 0.95 | 14.47 | 66.21 | 0.78 |
| Q3 2022 | 48.15 | 25.7 % | 0.57 | (1.08) | 49.24 | 0.58 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2022 | 37.83 % | 12.05 % | 3.27 % |
| Q2 2022 | 38.46 % | 12.59 % | 3.61 % |
| Q3 2022 | 38.74 % | 13.20 % | 3.98 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2022 | 85.00 | 2.91 | 1.97 | 12.61 |
| Q2 2022 | 85.00 | 3.24 | 2.19 | 12.78 |
| Q3 2022 | 85.00 | 3.35 | 2.44 | 12.07 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2022 | 25.59 | 37.84 | 5.91 |
| Q2 2022 | 20.70 | 30.54 | 5.24 |
| Q3 2022 | 23.77 | 32.69 | 6.61 |
Business Segments (Million)
Q3 2022
| Period | Retail Sales | Wholesale |
|---|---|---|
| Q1 2022 | 1,260.57 | 34.25 |
| Q2 2022 | 1,268.35 | 41.84 |
| Q3 2022 | 1,261.85 | 47.08 |
| Current | |
| Market Cap (M Riyal) | 6,808.50 |
| Enterprise Value (EV) (M) | 7,366.97 |
| Shares Outstanding ((M)) | 85.00 |
| EPS ( Riyal) (TTM) | 4.22 |
| Book Value (BV) ( Riyal) | 16.65 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 18.98 |
| P/E (TTM) | 18.98 |
| Price/book | 4.81 |
| Return on Average Assets (%) (TTM) | 7.5 |
| Return on Average Equity (%) (TTM) | 27.4 |
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