Middle East Healthcare Co. (MEAHCO), which owns and operates the Saudi German Hospital chain, reported a net profit after Zakat and tax of SAR 101 million for 2020, an increase of 4%, from SAR 97.6 million in 2019.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 1,496.65 | 1,750.59 | 17.0 % |
| Gross Income | 472.93 | 578.37 | 22.3 % |
| Operating Income | 103.27 | 107.41 | 4.0 % |
| Net Income | 97.57 | 81.99 | (16.0 %) |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 1.06 | 0.89 | (16.0 %) |
The increase in net profit was attributed to higher in-patient traffic and case mix, in addition to lower cost of revenue due to effective procurement policy.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 406.51 | 448.89 | 10.4 % |
| Gross Income | 148.59 | 139.12 | (6.4 %) |
| Operating Income | 44.06 | 17.20 | (61.0 %) |
| Net Income | 37.47 | 9.54 | (74.5 %) |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.41 | 0.10 | (74.5 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 492.13 | 448.89 | (8.8 %) |
| Gross Income | 171.91 | 139.12 | (19.1 %) |
| Operating Income | 42.12 | 17.20 | (59.2 %) |
| Net Income | 34.91 | 9.54 | (72.7 %) |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.38 | 0.10 | (72.7 %) |
The company reported a net profit after Zakat and tax of SAR 28.5 million in Q4 2020, a 24% year-on-year (YoY) decline.
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