Dr. Sulaiman Al Habib Medical Services Group (HMG) posted a 25% leap in Q1 2023 net profit to SAR 489.3 million, compared to SAR 390.5 million in the prior-year period.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 1,990.86 | 2,306.88 | 15.9 % |
| Gross Income | 658.56 | 783.64 | 19.0 % |
| Operating Income | 422.09 | 510.57 | 21.0 % |
| Net Income | 390.51 | 489.27 | 25.3 % |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 1.12 | 1.40 | 25.3 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 2,253.68 | 2,306.88 | 2.4 % |
| Gross Income | 737.07 | 783.64 | 6.3 % |
| Operating Income | 427.56 | 510.57 | 19.4 % |
| Net Income | 441.50 | 489.27 | 10.8 % |
| Average Shares | 350.00 | 350.00 | - |
| EPS (Riyals) | 1.26 | 1.40 | 10.8 % |
The first-quarter results were driven by a 15.87% year-on-year (YoY) rise in revenue to SAR 2.30 billion, on growth across all segments.
The higher revenue was mainly driven by the growth in the hospital segment, due to an increase in the number of patients and better inpatient occupancy.
The pharmacy segment’s sales increase was driven also by a rise in the number of patients compared to Q1 2022.
EBITDA for Q1 increased 19.65% YoY to SAR 622.80 million, leading to an EBITDA margin of 27.00% compared to 26.15% in Q1 2022.
Compared to Q4 2022, net profit grew 10.8% from SAR 441.50 million, as revenue grew by 2.36%.
Shareholders’ equity, no minority interest, rose to SAR 6.05 billion as of March 31, 2023, from SAR 5.48 billion a year earlier.
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