Dr. Sulaiman Al Habib Medical Services Group (HMG) posted a net profit after Zakat and tax of SAR 390.5 million in Q1 2022, a rise of 22%, from SAR 319 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 1,694.79 | 1,990.86 | 17.5 % |
| Gross Income | 549.42 | 658.56 | 19.9 % |
| Operating Income | 349.63 | 422.09 | 20.7 % |
| Net Income | 319.00 | 390.51 | 22.4 % |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 0.91 | 1.12 | 22.4 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 1,968.13 | 1,990.86 | 1.2 % |
| Gross Income | 643.38 | 658.56 | 2.4 % |
| Operating Income | 396.25 | 422.09 | 6.5 % |
| Net Income | 383.59 | 390.51 | 1.8 % |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 1.10 | 1.12 | 1.8 % |
The profit rise came on the back of an increase of 17.47% year-on-year (YoY) in revenue to SAR 1.990 billion amid continued growth in all segments. The revenue growth was primarily bolstered by the hospital segment, due to the increase in numbers of patients and inpatient occupancy. This growth was positively reflected on better sales of the pharmacy segment on annual and quarterly bases.
Meanwhile, EBITDA for Q1 2022 increased by SAR 74.63 million YoY to reach SAR 520.52 million.
When compared to Q4 2021, net profit rose 1.8% from SAR 383.59 million.
Shareholders’ equity, excluding minority interest, rose 9.4% to SAR 5.485 billion in Q1 2022, from SAR 5.014 billion in the same period last year.
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