Financial Results : AME’s 2022 profits grow 26% to SAR 26.7 mln

AME’s 2022 profits grow 26% to SAR 26.7 mln

22/03/2023 Argaam Exclusive

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AME Company for Medical Supplies posted a 26% rise in 2022 net profit to SAR 26.7 million, from SAR 21.2 million a year earlier.



Financials (M)

Item 2021 2022 Change‬
Revenues 151.39 193.17 27.6 %
Gross Income 69.55 90.28 29.8 %
Operating Income 28.96 29.98 3.5 %
Net Income 21.22 26.68 25.7 %
Average Shares 7.00 7.00 -
Earnings Per Share before unusual items (Riyals) 3.67 3.81 3.9 %
EPS (Riyal) 3.03 3.81 25.7 %

The profit growth was driven by an increase of SAR 41.78 million year-on-year (YoY) in net revenue for 2022 (net sales proceeds), as well as a rise of SAR 33.8 million and SAR 8 million in the sales of in medical supplies and devices, respectively.

 

This surge resulted from the company’s acquisition of a larger market share thanks to its participation in local and international conferences, along with more effort to advertise and market its products.

 



Current Half Annual Comparison (M)

Compared With The
Item H2 2021 H2 2022 Change‬
Revenues 81.60 84.82 3.9 %
Gross Income 37.54 41.42 10.3 %
Operating Income 15.70 12.72 (19.0 %)
Net Income 13.72 11.31 (17.6 %)
Average Shares 7.00 7.00 -
Earnings Per Share before unusual items (Riyal) 1.98 1.62 (18.5 %)
EPS (Riyal) 1.96 1.62 (17.6 %)

Total shareholders’ equity, no minority interest, rose to SAR 107.3 million as of Dec. 31, 2022, compared to SAR 93.4 million in the year-earlier period.

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