Fakeeh Care 9M 2026 profit drops 40% to SAR 135.09M; Q3 at SAR 38.75M

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) reported a net profit of SAR 135.09 million for the first nine months of 2026, down 40% from SAR 225.97 million a year earlier.

The company attributed the decline in profits to an 4.8% year-on-year (YoY) decrease in group EBITDA to SAR 357 million, with a margin of 14.5%, reflecting lower contributions from mature and support businesses. This was driven by the restructuring of the group's management and operations agreement, lower home healthcare revenue, and intensifying competition in Jeddah. The impact was partly offset by a 63% reduction in losses at new businesses, which recorded positive EBITDA for the first time in Q3 2026.

Other factors included higher depreciation and amortization expenses, which rose to SAR 168 million from SAR 137 million, and a threefold increase in net financing costs to SAR 48 million, reflecting financing for the acquisition of Dr. Mohammad Alfagih Hospital and its existing debt.

This was despite a 7% YoY increase in revenue to SAR 2.45 billion, driven by 137% growth in new businesses to SAR 510 million, including the consolidation of Dr. Mohammad Alfagih Hospital from July 2026, and a 10% increase in patients served to 1.52 million, while inpatient admissions and surgeries rose 28% and 34%, respectively.

Fakeeh Care’s Q3 net profit fell 45.9% to SAR 38.75 million, from SAR 71.64 million in Q3 2025, and sequentially dropped 33.1% from SAR 57.93 million in Q2 2026.

Total shareholders’ equity, excluding minority interest, increased to SAR 3.23 billion at the end of Sept. 30, 2026, from SAR 3.10 billion in the year-earlier period.

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