Financial Results : Smile Care profit up 29% to SAR 6.3M in 2024; H2 at SAR 3.9M

Smile Care profit up 29% to SAR 6.3M in 2024; H2 at SAR 3.9M

12/03/2025 Argaam Exclusive

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Basma Adeem Medical Co. (Smile Care) reported a net profit of SAR 6.3 million for 2024, an increase of 29% from SAR 4.9 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 26.52 33.92 27.9 %
Gross Income 8.35 11.01 32.0 %
Operating Income 5.25 6.97 32.7 %
Net Income 4.87 6.30 29.4 %
Average Shares 8.26 16.00 93.8 %
Earnings Per Share before unusual items (Riyals) 0.59 0.39 (33.2 %)
EPS (Riyal) 0.59 0.39 (33.2 %)

The profit increase was driven by an increase in revenue by 27.88% to SAR 33.91 million compared to SAR 26.52 million in the previous year, due to higher capacity and higher number of doctors and patients.

 

Meanwhile the company’s gross profit grew 31.97%.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 14.79 18.51 25.1 %
Gross Income 4.86 6.40 31.6 %
Operating Income 3.01 4.33 43.8 %
Net Income 2.89 3.92 35.4 %
Average Shares 8.26 16.00 93.8 %
Earnings Per Share before unusual items (Riyal) 0.35 0.24 (30.1 %)
EPS (Riyal) 0.35 0.24 (30.1 %)

In H2 2024, net profit rose 35.4% to SAR 3.92 million from SAR 2.89 million a year earlier.

 

Sequentially, H2 2024 profit grew 64.4% from SAR 2.38 million in H1 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 22.3 million as of Dec. 31, 2024, up from SAR 9.8 million in the prior-year period.

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