Aldawaa profit climbs 12% to SAR 370.1M in 2024, Q4 at SAR 103.8M

17/03/2025 Argaam Exclusive

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Aldawaa Medical Services Co. reported a net profit of SAR 370.1 million for 2024, an increase of 12% from SAR 329.2 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 5,741.36 6,450.94 12.4 %
Gross Income 2,106.62 2,293.07 8.9 %
Operating Income 479.39 515.36 7.5 %
Net Income 329.22 370.11 12.4 %
Average Shares 85.00 85.00 -
Earnings Per Share before unusual items (Riyals) 3.87 4.35 12.4 %
EPS (Riyal) 3.87 4.35 12.4 %

Revenues soared by 12.4% (SAR 709.5 million) year-on-year (YoY) in 2024, fueled by growth in the company's core pharmacy business, through retail, online, and multi-channel sales. This came as a result of the expanded customer base, which grew 11.7% YoY by year-end.

 

This is besides revenues from the company's other activities, specifically the distribution which leapt 19% YoY in 2024. Further, its healthcare logistics arm, Logistics Solutions System Co. (PROCEED), recorded a 143% YoY surge in 2024 revenues.

 

The company also witnessed a 9% (SAR 186.4 million) YoY rise in its 2024 gross profit. It also cited cost optimization for the same year, which pushed operating profit higher by 10.2% (SAR 47.4 million).

 

The Q4 2024 net profit also rose 12% to SAR 103.8 million, from SAR 92.35 million in the prior-year period.

 

On a quarterly basis, Q4 net profit leapt 38.3% from SAR 75.09 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 1,458.09 1,722.01 18.1 %
Gross Income 525.09 582.57 10.9 %
Operating Income 132.51 136.44 3.0 %
Net Income 92.35 103.81 12.4 %
Average Shares 85.00 85.00 -
Earnings Per Share before unusual items (Riyal) 1.09 1.22 12.4 %
EPS (Riyal) 1.09 1.22 12.4 %

Total shareholders’ equity, no minority interest, elevated to SAR 1.45 billion by Dec. 31, 2024, compared to SAR 1.31 billion a year earlier.

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