Financial Results : Miral profit jumps 35% to SAR 16.7M in 2024; H2 at SAR 10.2M

Miral profit jumps 35% to SAR 16.7M in 2024; H2 at SAR 10.2M

16/03/2025 Argaam Exclusive

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Miral Dental Clinics Co. reported a bottom line of SAR 16.7 million in 2024, a rise of 35% compared to SAR 12.4 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 65.37 74.45 13.9 %
Gross Income 24.02 27.64 15.1 %
Operating Income 13.80 18.37 33.1 %
Net Income 12.36 16.71 35.2 %
Average Shares 2.00 2.00 -
Earnings Per Share before unusual items (Riyals) 6.18 8.92 44.3 %
EPS (Riyals) 6.18 8.35 35.2 %

Revenues grew 13.9% year-on-year (YoY) to SAR 74.4 million, due to contracting with new insurance companies. In addition, Miral brought in doctors to work at two branches after new clinics opened in the Al-Malqa branch.

 

Additionally, the gross profit margin witnessed a notable improvement during the year, as revenues grew at a higher rate than costs, reflecting the company's success in achieving sustainable revenue growth without a significant increase in expenses, demonstrating high operational efficiency.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 34.67 40.47 16.7 %
Gross Income 12.78 15.50 21.3 %
Operating Income 7.03 10.37 47.4 %
Net Income 6.30 10.17 61.4 %
Average Shares 2.00 2.00 -
Earnings Per Share before unusual items (Riyals) 3.15 5.08 61.4 %
EPS (Riyals) 3.15 5.08 61.4 %

In H2 2024, net profit grew 61% to SAR 10.2 million from SAR 6.3 million in H2 2023.

 

Sequentially, H2 2024 profit rose 55.5% from SAR 6.54 million in H1 2024.

 

Shareholders' equity, with no minority interest, amounted to SAR 59.38 million by the end of Dec. 31, 2024, compared to SAR 41.69 million in the prior-year period.

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