Al Hammadi Company for Development and Investment reported a net profit after Zakat and tax of SAR 257.3 million for 2022, more than doubling from SAR 90.1 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 951.89 | 1,122.40 | 17.9 % |
| Gross Income | 364.05 | 419.67 | 15.3 % |
| Operating Income | 125.24 | 262.81 | 109.8 % |
| Net Income | 90.09 | 257.34 | 185.6 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.56 | 1.61 | 185.6 % |
This profit growth was driven by revenue that grew by 17.91% in 2022, thanks to the medical services and pharmaceuticals segments that recorded solid growth of 18.00% and 17.60%, respectively.
The firm also cited a decrease in expected credit loss provision of 64.82% compared with a year earlier. This is in addition to a SAR 8.78 million loss from discontinued operations at Al Hammadi Olaya Hospital in 2021.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 281.78 | 342.64 | 21.6 % |
| Gross Income | 108.53 | 131.00 | 20.7 % |
| Operating Income | 19.27 | 75.30 | 290.7 % |
| Net Income | 10.67 | 73.17 | 586.0 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.07 | 0.46 | 586.0 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 246.92 | 342.64 | 38.8 % |
| Gross Income | 83.50 | 131.00 | 56.9 % |
| Operating Income | 52.33 | 75.30 | 43.9 % |
| Net Income | 57.11 | 73.17 | 28.1 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.36 | 0.46 | 28.1 % |
Q4 2022 net profit also soared to SAR 73.2 million, from SAR 10.67 million in Q4 2021.
On a sequential basis, net earnings leapt 28.1% from SAR 57.11 million.
Total shareholders’ equity, no minority interest, reached SAR 1.71 billion at the end of 2022, compared with SAR 1.65 billion a year earlier.
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