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Saudi healthcare sector’s Q2 profit misses estimates by 34%
13/08/2018
Argaam Exclusive
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The aggregate net profit of Tadawul-listed healthcare firms, which stood at SAR 181 million for Q2 2018, fell 34 percent short of average forecasts of SAR 275 million, according to data compiled by Argaam.
The results of all healthcare companies missed analysts’ estimates for the period, especially the earnings of Dallah Healthcare Holding Co. and Saudi German Hospital, which missed estimates by 67 percent and 54 percent respectively.
Company Estimates Comparisons
| Company | 2018 - Q2 (net income) | 2018 - Q2 (e) | Change |
| MOUWASAT | 87.88 | 90.36 | (2.7 %) |
| DALLAH HEALTH | 18.73 | 56.02 | (66.6 %) |
| CARE | 20.26 | 26.62 | (23.9 %) |
| ALHAMMADI | 19.93 | 28.45 | (30.0 %) |
| SAUDI GERMAN HEALTH | 34.27 | 73.92 | (53.6 %) |
| Total | 181.07 | 275.36 | (34.2 %) |
Out of six research firms, Albilad Capital’s estimates were in-line with the results of two healthcare firms, while Osool and Bakheet’s forecast met with Mouwasat Medical Services Co.’s Q2 results.
Actual Profit versus Estimates
| Company | 2018 - Q2 (net income) | 2018 - Q2 (e) | Most Accurate Research Company |
| MOUWASAT | 87.88 | 87.60 | OSOOL AND BAKHEET |
| DALLAH HEALTH | 18.73 | 49.00 | Albilad Capital |
| CARE | 20.26 | 24.00 | Al Rajhi Capital |
| ALHAMMADI | 19.93 | 26.00 | Albilad Capital |
| SAUDI GERMAN HEALTH | 34.27 | 66.50 | AlJazira Capital |
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MarketIndices
| TASI | 10,381.51 | (108.14) | (1.03 %) |
Company Indices
| DALLAH HEALTH | 123.80 | (5.80) | (4.46%) |
| MOUWASAT | 65.85 | (2.55) | (3.73%) |
| CARE | 140.10 | 2.40 | 1.72% |
| ALHAMMADI | 27.32 | (0.96) | (3.39%) |
| SAUDI GERMAN HEALTH | 32.06 | (0.52) | (1.58%) |
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