Sulaiman Al Habib Group posts 23% profit rise to SAR 737.7 mln in 9M 2020
25/10/2020
Argaam Exclusive
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Dr. Sulaiman Al Habib Medical Group (HMG) reported a net profit after Zakat and tax of SAR 737.7 million for the first nine months of 2020, a 23% year-on-year (YoY) increase, compared to SAR 600.1 million in the same period a year ago.
Financials (M)
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 3,611.83 | 4,170.26 | 15.5 % |
| Gross Income | 1,087.87 | 1,318.60 | 21.2 % |
| Operating Income | 604.23 | 785.81 | 30.1 % |
| Net Income | 600.05 | 737.65 | 22.9 % |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 1.71 | 2.11 | 22.9 % |
The company attributed the profit rise to 15.46% increase in revenues, 24.47%% increase in EBITDA, and higher net income by 22.93%.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 1,226.74 | 1,623.91 | 32.4 % |
| Gross Income | 348.97 | 558.89 | 60.2 % |
| Operating Income | 192.48 | 323.89 | 68.3 % |
| Net Income | 198.00 | 298.80 | 50.9 % |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 0.57 | 0.85 | 50.9 % |
The company’s Q3 net profit after Zakat and tax increased by 51% YoY to SAR 298.8 million due to a 32.38% rise in revenues, higher net income by 50.9%, and a 47.11% rise in EBITDA.
On a quarterly basis, Q3 net profit surged 55.4% due to seasonality of revenue as travel during the summer period remained limited due to COVID-19.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2020 | 1,343.34 | 9.4 % | 399.85 | (1.1 %) | 246.60 | 5.3 % | 0.70 |
| Q2 2020 | 1,203.01 | 4.0 % | 359.86 | 7.5 % | 192.25 | 14.5 % | 0.55 |
| Q3 2020 | 1,623.91 | 32.4 % | 558.89 | 60.2 % | 298.80 | 50.9 % | 0.85 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2020 | 29.60 % | 22.52 % | 17.20 % |
| Q2 2020 | 29.83 % | 23.35 % | 17.52 % |
| Q3 2020 | 31.47 % | 24.38 % | 18.08 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2020 | 350.00 | 2.52 | 2.52 | 13.25 |
| Q2 2020 | 350.00 | 2.59 | 2.59 | 13.29 |
| Q3 2020 | 350.00 | 2.88 | 2.88 | 13.74 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2020 | 21.77 | 21.77 | 4.14 |
| Q2 2020 | 29.06 | 29.06 | 5.67 |
| Q3 2020 | 33.48 | 33.48 | 7.01 |
Business Segments (Million)
Q3 2020
| Period | Hospitals | Pharmacies | Others |
|---|---|---|---|
| Q1 2020 | 1,053.00 | 237.00 | 53.00 |
| Q2 2020 | 931.00 | 209.00 | 63.00 |
| Q3 2020 | 1,272.00 | 261.00 | 91.00 |
Analysts Estimates (Million)
| Item | Q3 2020 (e) | Q3 2020 (a) | Change |
|---|---|---|---|
| Average | 242.23 | 298.80 | 23.35 % |
Estimates vs Actual (Million)
| Item | Q3 2020 (e) | Q3 2020 (a) | Change |
|---|---|---|---|
| Riyad Capital | 252.00 | 298.80 | 18.6 % |
| SNB Capital | 242.00 | 298.80 | 23.5 % |
| OSOOL AND BAKHEET | 232.70 | 298.80 | 28.4 % |
| Current | |
| Market Cap (M Riyal) | 100,380.00 |
| Enterprise Value (EV) (M) | 103,708.16 |
| Shares Outstanding ((M)) | 350.00 |
| EPS ( Riyal) (TTM) | 6.02 |
| Book Value (BV) ( Riyal) | 18.96 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 48.96 |
| P/E (TTM) | 47.63 |
| Price/book | 15.13 |
| Return on Average Assets (%) (TTM) | 13.8 |
| Return on Average Equity (%) (TTM) | 33.2 |
Share Price
Dr. Sulaiman Al Habib Medical Services Group (SULAIMAN ALHABIB)
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