Aldawaa profit falls to SAR 76.3 mln in Q1 2023

15/05/2023 Argaam Exclusive

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Aldawaa Medical Services Co. (DMSCO) reported a net profit of SAR 76.3 million for Q1 2023, down 12.5% from SAR 87.1 million in the same period last year.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2022	Q1 2023	Change‬
Revenues	1,294.82	1,407.59	8.7 %
Gross Income	494.18	534.98	8.3 %
Operating Income	70.71	116.00	64.0 %
Net Income	87.11	76.25	(12.5 %)
Average Shares	85.00	85.00	-
EPS (Riyals)	1.02	0.90	(12.5 %)

Item	Q4 2022	Q1 2023	Change‬
Revenues	1,458.30	1,407.59	(3.5 %)
Gross Income	533.69	534.98	0.2 %
Operating Income	130.39	116.00	(11.0 %)
Net Income	89.51	76.25	(14.8 %)
Average Shares	85.00	85.00	-
EPS (Riyals)	1.05	0.90	(14.8 %)

The company recorded an 8.7% rise year-on-year (YoY) in revenue to reach SAR 112.8 million during the first quarter due to increased sales activities, own brands, and multi-channels.

Gross profit rose by 8.3% or SAR 40.8 million, YoY during the first three months.

Sequentially, Q1 2023 net profit fell 14.8% from SAR 89.51 million, due to the usual Q4 trend, which consists of seasonality and campaigns across multi-channels to support revenue momentum activities in Q4 2022.

Total shareholders’ equity, no minority interest, stood at SAR 1.076 billion as of March 31, 2023, from SAR 1.071 billion a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	3,375.63	-	1,310.98	-	201.11	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	3,797.20	12.5 %	1,478.68	12.8 %	293.53	46.0 %
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	3,962.43	4.4 %	1,586.96	7.3 %	295.92	0.8 %
Q1 2020	1,176.38	-	446.33	-	91.48	-
Q2 2020	1,303.84	-	530.76	-	131.66	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	4,962.08	25.2 %	1,881.26	18.5 %	392.90	32.8 %
Q1 2021	1,209.72	2.8 %	451.96	1.3 %	74.35	(18.7 %)
Q2 2021	1,266.77	(2.8 %)	457.98	(13.7 %)	66.91	(49.2 %)
Q3 2021	1,259.56	-	451.39	-	50.81	-
Q4 2021	1,298.34	-	533.08	-	75.82	-
2021	5,034.38	1.5 %	1,894.40	0.7 %	267.89	(31.8 %)
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 %
Q4 2022	1,458.30	12.3 %	533.69	0.1 %	130.39	72.0 %
2022	5,372.24	6.7 %	2,019.60	6.6 %	374.35	39.7 %
Q1 2023	1,407.59	8.7 %	534.98	8.3 %	116.00	64.0 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	3,375.63	-	1,310.98	-	201.11	-
2018	3,797.20	12.5 %	1,478.68	12.8 %	293.53	46.0 %
2019	3,962.43	4.4 %	1,586.96	7.3 %	295.92	0.8 %
2020	4,962.08	25.2 %	1,881.26	18.5 %	392.90	32.8 %
2021	5,034.38	1.5 %	1,894.40	0.7 %	267.89	(31.8 %)
2022	5,372.24	6.7 %	2,019.60	6.6 %	374.35	39.7 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	120.90	-	1.51	0.99	119.91	1.50
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	228.33	88.9 %	2.86	(5.66)	233.99	2.93
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	233.20	2.1 %	2.92	(15.65)	248.85	3.12
Q1 2020	23.11	-	0.29	(52.93)	76.04	0.95
Q2 2020	55.35	-	0.69	(61.91)	117.26	1.47
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	246.44	5.7 %	3.09	(94.95)	341.38	4.28
Q1 2021	78.84	241.2 %	0.99	21.49	57.35	0.72
Q2 2021	52.94	(4.4 %)	0.62	5.84	47.10	0.55
Q3 2021	38.29	-	0.45	9.85	28.44	0.33
Q4 2021	69.08	-	0.81	26.24	42.84	0.50
2021	239.15	(3.0 %)	2.81	63.42	175.72	2.07
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
Q4 2022	89.51	29.6 %	1.05	7.74	81.77	0.96
2022	305.45	27.7 %	3.59	59.27	246.18	2.90
Q1 2023	76.25	(12.5 %)	0.90	-	76.25	0.90

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	120.90	-	1.51	0.99	119.91	1.50
2018	228.33	88.9 %	2.86	(5.66)	233.99	2.93
2019	233.20	2.1 %	2.92	(15.65)	248.85	3.12
2020	246.44	5.7 %	3.09	(94.95)	341.38	4.28
2021	239.15	(3.0 %)	2.81	63.42	175.72	2.07
2022	305.45	27.7 %	3.59	59.27	246.18	2.90

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	38.84 %	14.78 %	3.55 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	38.94 %	15.71 %	6.16 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	40.05 %	15.25 %	6.28 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	37.91 %	14.07 %	6.88 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	37.63 %	11.95 %	3.49 %
2021	37.63 %	11.95 %	3.49 %
Q1 2022	37.83 %	12.05 %	3.27 %
Q2 2022	38.46 %	12.59 %	3.61 %
Q3 2022	38.74 %	13.20 %	3.98 %
Q4 2022	37.59 %	13.57 %	4.58 %
2022	37.59 %	13.57 %	4.58 %
Q1 2023	37.56 %	13.96 %	4.99 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	38.84 %	14.78 %	3.55 %
2018	38.94 %	15.71 %	6.16 %
2019	40.05 %	15.25 %	6.28 %
2020	37.91 %	14.07 %	6.88 %
2021	37.63 %	11.95 %	3.49 %
2022	37.59 %	13.57 %	4.58 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	37.94 %	-	6.46 %
Q2 2020	40.71 %	-	8.99 %
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	37.36 %	12.64 %	4.74 %
Q2 2021	36.15 %	11.68 %	3.72 %
Q3 2021	35.84 %	10.59 %	2.26 %
Q4 2021	41.06 %	12.90 %	3.30 %
Q1 2022	38.17 %	12.98 %	3.78 %
Q2 2022	38.68 %	13.84 %	5.05 %
Q3 2022	37.05 %	13.08 %	3.76 %
Q4 2022	36.60 %	14.29 %	5.61 %
Q1 2023	38.01 %	14.56 %	5.42 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	79.85	-	-	-
Q2 2020	79.85	-	-	-
Q3 2020	-	-	-	-
Q4 2020	-	-	-	-
Q1 2021	79.85	-	-	14.62
Q2 2021	85.00	-	-	14.74
Q3 2021	85.00	-	-	12.46
Q4 2021	85.00	2.81	2.07	11.64
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
Q4 2022	85.00	3.59	2.90	12.88
Q1 2023	85.00	3.47	3.22	12.67

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	79.85	1.51	1.50	9.29
2018	79.85	2.86	2.93	10.81
2019	79.85	2.92	3.12	12.14
2020	79.85	3.09	4.28	13.94
2021	85.00	2.81	2.07	11.64
2022	85.00	3.59	2.90	12.88

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	25.59	37.84	5.91
Q2 2022	20.70	30.54	5.24
Q3 2022	23.77	32.69	6.61
Q4 2022	20.01	24.83	5.58
Q1 2023	23.08	24.87	6.31

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	20.01	24.83	5.58

Business Segments (Million)

Compared With The

Period	Retail Sales	Wholesale	Logistic Services
Q1 2021	1,169.76	39.96	-
Q2 2021	1,234.85	31.92	-
Q3 2021	1,224.38	35.18	-
Q4 2021	1,257.00	41.34	-
Q1 2022	1,260.57	34.25	-
Q2 2022	1,268.35	41.84	-
Q3 2022	1,261.85	47.08	-
Q4 2022	1,376.54	81.76	-
Q1 2023	1,341.18	66.41	-

Period	Retail Sales	Wholesale	Logistic Services
2020	4,795.48	166.59	-
2021	4,885.99	148.39	-
2022	5,175.91	196.33	-

Analysts Estimates (Million)

Item	Q1 2023 (e)	Q1 2023 (a)	Change‬
Average	76.00	76.25	0.34 %

Estimates vs Actual (Million)

Item	Q1 2023 (e)	Q1 2023 (a)	Change
JP Morgan	76.00	76.25	0.3 %

Financial Ratios

	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

Aldawaa Medical Services Co. (ALDAWAA)

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Aldawaa profit falls to SAR 76.3 mln in Q1 2023

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Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Aldawaa Medical Services Co. (ALDAWAA)

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Aldawaa profit falls to SAR 76.3 mln in Q1 2023

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Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2023

Revenue by Business Segment (Latest) 2023 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Aldawaa Medical Services Co. (ALDAWAA)

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Business Segments (Million)