Saudi German Health net profit up 18% to SAR 42 mln in 9M 2022; Q3 at SAR 11.1 mln

03/11/2022 Argaam Exclusive

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Share Price

Middle East Healthcare Co.
89.70
0.40 0.45 %

Middle East Healthcare Co. (SAUDI GERMAN HEALTH)

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Middle East Healthcare Co. (Saudi German Health) reported a net profit after Zakat and tax of SAR 42 million in the first nine months of 2022, an 18% increase, compared to SAR 35.6 million in the year-ago period. 

 



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 1,373.67 1,533.79 11.7 %
Gross Income 448.07 476.00 6.2 %
Operating Income 47.54 82.38 73.3 %
Net Income 35.59 42.02 18.1 %
Average Shares 92.04 92.04 -
EPS (Riyals) 0.39 0.46 18.1 %

In Q3 2022, net profit after Zakat and tax saw a 23% decline to SAR 11.1 million, from SAR 14.35 million in the year before, on opening of new hospitals and higher financing costs. 

  

Sequentially, the company’s net profit rose 7% from SAR 10.43 million in Q2 2022. 



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 498.73 512.37 2.7 %
Gross Income 172.27 152.21 (11.6 %)
Operating Income 27.46 26.26 (4.4 %)
Net Income 14.35 11.11 (22.6 %)
Average Shares 92.04 92.04 -
EPS (Riyals) 0.16 0.12 (22.6 %)

Shareholders’ equity, with no minority interest, grew to SAR 1.292 billion as of Sept. 30, 2022, from SAR 1.257 billion in the year-earlier period. 

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