Aldawaa H1 profit down slightly to SAR 165.6 mln; Q2 at SAR 89.3 mln

Aldawaa H1 profit down slightly to SAR 165.6 mln; Q2 at SAR 89.3 mln

02/08/2023 Argaam Exclusive

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Aldawaa Medical Services Co. (DMSCO) reported a net profit of SAR 165.6 million in H1 2023, slightly declining from SAR 167.8 million in the year-earlier period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 2,605.01 2,844.33 9.2 %
Gross Income 1,000.97 1,060.62 6.0 %
Operating Income 161.27 242.28 50.2 %
Net Income 167.78 165.59 (1.3 %)
Average Shares 85.00 85.00 -
EPS (Riyals) 1.97 1.95 (1.3 %)

The profit decline was attributed to lower other income year-on-year (YoY).

 

However, the company’s revenue rose 9.2% YoY, while gross profit increased 6% YoY in H1. Operating profit also rose 47% YoY to SAR 237 million. 



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 1,310.19 1,436.74 9.7 %
Gross Income 506.79 525.64 3.7 %
Operating Income 90.55 126.28 39.5 %
Net Income 80.67 89.33 10.7 %
Average Shares 85.00 85.00 -
EPS (Riyals) 0.95 1.05 10.7 %

The company reported a net profit of SAR 89.3 million in Q2 2023, an 11% increase from SAR 80.67 million a year earlier on higher revenue, as well as gross and operating profits.

 

On a sequential basis, net earnings rose 17.2% from SAR 76.26 million in Q1 2023.

Total shareholders’ equity, no minority interest, stood at SAR 1.25 billion as of June 30, 2023, compared to SAR 1.08 billion in the prior-year period.

 

View More Financial Results

 

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 1,176.38 - 446.33 - 91.48 -
Q2 2020 1,303.84 - 530.76 - 131.66 -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
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 -
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 %
Q1 2023 1,407.59 8.7 % 534.98 8.3 % 116.00 64.0 %
Q2 2023 1,436.74 9.7 % 525.64 3.7 % 126.28 39.5 %


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 - - - - - -
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 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 - - - - - -
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
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
Q1 2023 76.25 (12.5 %) 0.90 - 76.25 0.90
Q2 2023 89.33 10.7 % 1.05 - 89.33 1.05

Profitability

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 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 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 %
Q1 2023 37.56 % 13.96 % 4.99 %
Q2 2023 37.05 % 14.35 % 5.29 %


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
Q2 2023 85.00 3.57 3.49 14.74

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
Q2 2023 27.61 28.23 6.68

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 -
Q2 2023 1,366.98 69.76 -

Analysts Estimates (Million)

Item Q2 2023 (e) Q2 2023 (a) Change‬
Average 81.00 89.33 10.29 %

Estimates vs Actual (Million)

Item Q2 2023 (e) Q2 2023 (a) Change
Hermes 81.00 89.33 10.3 %


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
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Share Price

Aldawaa Medical Services Co.
80.10
0.90 1.14 %

Aldawaa Medical Services Co. (ALDAWAA)

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