Sulaiman Al Habib profit rises 13% to SAR 2.3B in 2024; Q4 at SAR 613.8M

Sulaiman Al Habib profit rises 13% to SAR 2.3B in 2024; Q4 at SAR 613.8M

16/02/2025 Argaam Exclusive

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Dr. Sulaiman Al Habib Medical Services Group reported a net profit of SAR 2.31 billion for 2024, an increase of 13% from SAR 2.04 billion in the year-earlier period.



Financials (M)

Item 2023 2024 Change‬
Revenues 9,508.44 11,200.43 17.8 %
Gross Income 3,270.05 3,744.26 14.5 %
Operating Income 2,095.65 2,356.26 12.4 %
Net Income 2,046.01 2,315.29 13.2 %
Average Shares 350.00 350.00 -
Earnings Per Share before unusual items 5.85 6.49 11.0 %
EPS (Riyals) 5.85 6.62 13.2 %

Revenue grew by 17.79% to SAR 11.2 billion, up from SAR 9.50 billion in the previous year, mainly driven by the growth in both hospital and pharmacy segments. In addition, the increase in patient numbers within the hospital segment had a direct positive impact on the pharmacy segment.

 

The group opened Al-Fayhaa Hospital (Al-Fayhaa - Jeddah) and Shamal Al Riyadh Hospital (Al-Sahafa - Riyadh), where both projects are currently in the revenue ramp-up phase during their first operational year.

 

Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2024 increased by 18% YoY to SAR 2.97 million, as EBITDA margin reached 26.57% from 26.61% a year ago.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 2,486.49 3,128.85 25.8 %
Gross Income 868.16 996.81 14.8 %
Operating Income 534.18 624.13 16.8 %
Net Income 525.01 613.77 16.9 %
Average Shares 350.00 350.00 -
Earnings Per Share before unusual items 1.50 1.63 8.6 %
EPS (Riyals) 1.50 1.75 16.9 %

Q4 2024 net profit rose 17% to SAR 613.77 million from SAR 525.01 million a year ago.

 

On a sequential basis, net earnings grew 3.1% from SAR 595.54 million in Q3 2024.

 

Total shareholders’ equity, after minority interest, stood at SAR 7.17 billion by Dec. 31, 2024, compared to SAR 6.48 billion a year earlier.

 

Attached Documents

 

 



Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
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 216.53 - 0.62 - 216.53 0.62
Q2 2018 151.51 - 0.43 - 151.51 0.43
Q3 2018 207.93 - 0.59 - 207.93 0.59
Q4 2018 225.34 - 0.64 - 225.34 0.64
Q1 2019 234.08 8.1 % 0.67 - 234.08 0.67
Q2 2019 167.97 10.9 % 0.48 - 167.97 0.48
Q3 2019 198.00 (4.8 %) 0.57 - 198.00 0.57
Q4 2019 270.18 19.9 % 0.77 - 270.18 0.77
Q1 2020 246.60 5.3 % 0.70 - 246.60 0.70
Q2 2020 192.25 14.5 % 0.55 - 192.25 0.55
Q3 2020 298.80 50.9 % 0.85 - 298.80 0.85
Q4 2020 317.83 17.6 % 0.91 - 317.83 0.91
Q1 2021 319.00 29.4 % 0.91 - 319.00 0.91
Q2 2021 325.40 69.3 % 0.93 - 325.40 0.93
Q3 2021 348.62 16.7 % 1.00 - 348.62 1.00
Q4 2021 383.59 20.7 % 1.10 - 383.59 1.10
Q1 2022 390.51 22.4 % 1.12 - 390.51 1.12
Q2 2022 398.13 22.4 % 1.14 - 398.13 1.14
Q3 2022 420.62 20.7 % 1.20 - 420.62 1.20
Q4 2022 441.50 15.1 % 1.26 - 441.50 1.26
Q1 2023 489.27 25.3 % 1.40 - 489.27 1.40
Q2 2023 486.97 22.3 % 1.39 - 486.97 1.39
Q3 2023 544.77 29.5 % 1.56 - 544.77 1.56
Q4 2023 525.01 18.9 % 1.50 - 525.01 1.50
Q1 2024 550.95 12.6 % 1.57 - 550.95 1.57
Q2 2024 555.03 14.0 % 1.59 - 555.03 1.59
Q3 2024 595.54 9.3 % 1.70 - 595.54 1.70
Q4 2024 613.77 16.9 % 1.75 43.68 570.10 1.63
2024 2,315.29 13.2 % 6.62 43.68 2,271.61 6.49


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 1,169.41 - 361.40 - 221.01 -
Q2 2018 1,068.31 - 290.57 - 153.73 -
Q3 2018 1,145.35 - 354.30 - 215.17 -
Q4 2018 1,204.57 - 355.74 - 211.62 -
Q1 2019 1,227.90 5.0 % 404.20 11.8 % 248.18 12.3 %
Q2 2019 1,157.19 8.3 % 334.70 15.2 % 163.58 6.4 %
Q3 2019 1,226.74 7.1 % 348.97 (1.5 %) 192.48 (10.5 %)
Q4 2019 1,404.45 16.6 % 435.67 22.5 % 263.49 24.5 %
Q1 2020 1,343.34 9.4 % 399.85 (1.1 %) 258.61 4.2 %
Q2 2020 1,203.01 4.0 % 359.86 7.5 % 203.31 24.3 %
Q3 2020 1,623.91 32.4 % 558.89 60.2 % 323.89 68.3 %
Q4 2020 1,691.35 20.4 % 545.81 25.3 % 329.05 24.9 %
Q1 2021 1,694.79 26.2 % 549.42 37.4 % 349.63 35.2 %
Q2 2021 1,751.21 45.6 % 551.02 53.1 % 339.73 67.1 %
Q3 2021 1,836.35 13.1 % 586.42 4.9 % 380.54 17.5 %
Q4 2021 1,968.13 16.4 % 643.38 17.9 % 396.25 20.4 %
Q1 2022 1,990.86 17.5 % 658.56 19.9 % 422.09 20.7 %
Q2 2022 2,014.01 15.0 % 670.88 21.8 % 414.75 22.1 %
Q3 2022 2,052.19 11.8 % 681.63 16.2 % 436.09 14.6 %
Q4 2022 2,253.68 14.5 % 737.07 14.6 % 427.56 7.9 %
Q1 2023 2,306.88 15.9 % 783.64 19.0 % 510.57 21.0 %
Q2 2023 2,272.27 12.8 % 774.83 15.5 % 498.81 20.3 %
Q3 2023 2,442.81 19.0 % 843.43 23.7 % 552.09 26.6 %
Q4 2023 2,486.49 10.3 % 868.16 17.8 % 534.18 24.9 %
Q1 2024 2,521.41 9.3 % 877.33 12.0 % 556.08 8.9 %
Q2 2024 2,573.62 13.3 % 878.03 13.3 % 551.67 10.6 %
Q3 2024 2,976.56 21.9 % 992.10 17.6 % 624.38 13.1 %
Q4 2024 3,128.85 25.8 % 996.81 14.8 % 624.13 16.8 %
2024 11,200.43 17.8 % 3,744.26 14.5 % 2,356.26 12.4 %

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 29.69 % 21.84 % 17.47 %
Q1 2019 30.24 % 22.28 % 17.62 %
Q2 2019 30.60 % 22.42 % 17.64 %
Q3 2019 29.97 % 21.82 % 17.14 %
Q4 2019 30.37 % 22.40 % 17.35 %
Q1 2020 29.60 % 22.52 % 17.20 %
Q2 2020 29.83 % 23.35 % 17.52 %
Q3 2020 31.47 % 24.38 % 18.08 %
Q4 2020 31.81 % 24.44 % 18.01 %
Q1 2021 32.42 % 24.53 % 18.15 %
Q2 2021 32.61 % 24.54 % 18.65 %
Q3 2021 32.02 % 24.56 % 18.80 %
Q4 2021 32.14 % 24.56 % 18.99 %
Q1 2022 32.32 % 24.53 % 19.19 %
Q2 2022 32.77 % 24.65 % 19.47 %
Q3 2022 33.08 % 24.69 % 19.85 %
Q4 2022 33.07 % 24.18 % 19.86 %
Q1 2023 33.31 % 24.34 % 20.28 %
Q2 2023 33.51 % 24.58 % 20.69 %
Q3 2023 33.84 % 24.81 % 21.16 %
Q4 2023 34.39 % 25.33 % 21.52 %
Q1 2024 34.60 % 25.28 % 21.68 %
Q2 2024 34.59 % 25.19 % 21.70 %
Q3 2024 34.24 % 24.93 % 21.09 %
Q4 2024 33.43 % 24.79 % 20.28 %
2024 33.43 % 24.79 % 20.28 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
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 350.00 - - 11.82
Q2 2018 350.00 - - 12.26
Q3 2018 350.00 - - 12.86
Q4 2018 350.00 2.29 2.29 12.37
Q1 2019 350.00 2.34 2.34 12.43
Q2 2019 350.00 2.39 2.39 11.79
Q3 2019 350.00 2.36 2.36 12.36
Q4 2019 350.00 2.49 2.49 12.55
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
Q4 2020 350.00 3.02 3.02 14.03
Q1 2021 350.00 3.22 3.22 14.33
Q2 2021 350.00 3.60 3.60 14.56
Q3 2021 350.00 3.75 3.75 14.86
Q4 2021 350.00 3.93 3.93 15.25
Q1 2022 350.00 4.14 4.14 15.67
Q2 2022 350.00 4.35 4.35 15.98
Q3 2022 350.00 4.55 4.55 16.32
Q4 2022 350.00 4.72 4.72 16.80
Q1 2023 350.00 5.00 5.00 17.31
Q2 2023 350.00 5.25 5.25 17.71
Q3 2023 350.00 5.61 5.61 18.27
Q4 2023 350.00 5.85 5.85 18.53
Q1 2024 350.00 6.02 6.02 18.96
Q2 2024 350.00 6.22 6.22 19.43
Q3 2024 350.00 6.36 6.36 19.97
Q4 2024 350.00 6.62 6.49 20.50

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 21.77 21.77 4.14
Q2 2020 29.06 29.06 5.67
Q3 2020 33.48 33.48 7.01
Q4 2020 36.14 36.14 7.77
Q1 2021 38.48 38.48 8.65
Q2 2021 45.35 45.35 11.22
Q3 2021 46.46 46.46 11.71
Q4 2021 41.04 41.04 10.58
Q1 2022 46.02 46.02 12.15
Q2 2022 44.60 44.60 12.13
Q3 2022 45.70 45.70 12.74
Q4 2022 46.77 46.77 13.13
Q1 2023 58.30 58.30 16.83
Q2 2023 54.49 54.49 16.16
Q3 2023 42.02 42.02 12.90
Q4 2023 48.58 48.58 15.33
Q1 2024 50.81 50.81 16.14
Q2 2024 46.17 46.17 14.77
Q3 2024 46.62 46.62 14.85
Q4 2024 42.39 43.20 13.68

Business Segments (Million)

Compared With The
Period Hospitals Pharmacies Others
Q1 2018 970.00 189.00 10.00
Q2 2018 865.00 174.00 30.00
Q3 2018 908.00 175.00 62.00
Q4 2018 938.00 199.00 68.00
Q1 2019 999.00 208.00 21.00
Q2 2019 916.00 201.00 40.00
Q3 2019 984.00 203.00 40.00
Q4 2019 1,102.00 242.00 60.00
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
Q4 2020 1,346.00 294.00 52.00
Q1 2021 1,320.00 313.00 62.00
Q2 2021 1,366.00 315.00 70.00
Q3 2021 1,418.00 338.00 80.00
Q4 2021 1,482.00 389.00 97.00
Q1 2022 1,506.00 417.00 68.00
Q2 2022 1,534.00 407.00 73.00
Q3 2022 1,557.00 408.00 87.00
Q4 2022 1,701.00 492.00 61.00
Q1 2023 1,753.00 491.00 63.00
Q2 2023 1,728.00 484.00 60.00
Q3 2023 1,859.00 485.00 99.00
Q4 2023 1,978.00 531.00 (23.00)
Q1 2024 1,903.00 544.00 74.00
Q2 2024 1,952.00 542.00 80.00
Q3 2024 2,303.00 607.00 67.00
Q4 2024 2,400.00 662.00 66.00

Analysts Estimates (Million)

Item Q4 2024 (e) Q4 2024 (a) Change‬
Average 583.04 613.77 5.27 %

Estimates vs Actual (Million)

Item Q4 2024 (e) Q4 2024 (a) Change
SNB Capital 611.00 613.77 0.5 %
OSOOL AND BAKHEET 606.48 613.77 1.2 %
Riyad Capital 603.00 613.77 1.8 %
Al Rajhi Capital 594.00 613.77 3.3 %
AlJazira Capital 642.80 613.77 (4.5) %
United Securities Company 580.00 613.77 5.8 %
Sico 444.00 613.77 38.2 %

Current
Market Cap (M Riyal) 96,390.00
Enterprise Value (EV) (M) 101,694.77
Shares Outstanding ((M)) 350.00
EPS ( Riyal) (TTM) 6.62
Book Value (BV) ( Riyal) 20.50
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 42.43
P/E (TTM) 41.63
Price/book 13.43
Return on Average Assets (%) (TTM) 12.7
Return on Average Equity (%) (TTM) 20.2

Share Price

Dr. Sulaiman Al Habib Medical Services Group (SULAIMAN ALHABIB)


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