Nahdi Medical Co. reported a rise of 9% in 2022 net profit to SAR 887.8 million, from SAR 812.5 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 8,066.22 | 8,616.19 | 6.8 % |
| Gross Income | 3,304.68 | 3,545.39 | 7.3 % |
| Operating Income | 847.88 | 975.52 | 15.1 % |
| Net Income | 812.53 | 887.81 | 9.3 % |
| Average Shares | 130.00 | 130.00 | - |
| EPS (Riyals) | 6.25 | 6.83 | 9.3 % |
The medical services provider cited a 6.8% year-on-year (YoY) rise in revenue, primarily on the pharma segment growth and improved religious tourism, which normalized to the pre-pandemic levels at the two Holy Mosques in Makkah and Madinah.
Gross profit jumped 6.5% YoY on sales growth. Gross profit margins reached 40.9%, maintaining the same level of 2021.
On the other hand, operating expenses increased by 4.6% YoY, below the top-line growth. The increase was mainly attributed to support the business growth. The net balance of operating expenses and other operating revenue increased by 5.6% YoY in the 12-month period.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 1,973.23 | 2,138.24 | 8.4 % |
| Gross Income | 807.21 | 856.31 | 6.1 % |
| Operating Income | 99.44 | 148.89 | 49.7 % |
| Net Income | 143.23 | 127.99 | (10.6 %) |
| Average Shares | 130.00 | 130.00 | - |
| EPS (Riyals) | 1.10 | 0.98 | (10.6 %) |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 2,158.98 | 2,138.24 | (1.0 %) |
| Gross Income | 911.06 | 856.31 | (6.0 %) |
| Operating Income | 271.48 | 148.89 | (45.2 %) |
| Net Income | 253.81 | 127.99 | (49.6 %) |
| Average Shares | 130.00 | 130.00 | - |
| EPS (Riyals) | 1.95 | 0.98 | (49.6 %) |
The fourth-quarter net profit dropped 11% to SAR 128 million, from SAR 143.23 million in Q4 2021.
Compared to the previous quarter, Q4 net profit fell by 49.6% from SAR 253.81 million.
Shareholders’ equity, after minority interest, rose to SAR 2.24 billion as of Dec. 31, 2022, from SAR 1.60 billion a year earlier.
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