Care’s H1 profit rises 31% on lower costs, expenses

31/07/2018 Argaam Exclusive

View other reports

National Medical Care Co. (Care), which operates and owns hospitals and medical centers, reported a net profit of SAR 45.9 million for the first six months of 2018, an increase of nearly 31 percent year-on-year (YoY) due to a decrease in the cost of revenues, along with lower administrative and general expenses.



Financials (M)

Item 6m 2017 6m 2018 Change‬
Revenues 418.98 405.72 (3.2 %)
Gross Income 91.44 101.32 10.8 %
Operating Income 34.05 51.81 52.2 %
Net Income 35.04 45.87 30.9 %
Average Shares 44.85 44.85 -
EPS (Riyals) 0.78 1.02 30.9 %

The net profit for second quarter rose 4 percent YoY to SAR 20.3 million on lower costs and expenses.

 

Compared to the previous quarter, the Q2 profit was down nearly 21 percent.



Current Quarter Comparison (M)

Compared With The
Item Q2 2017 Q2 2018 Change‬
Revenues 216.54 199.05 (8.1 %)
Gross Income 50.25 49.59 (1.3 %)
Operating Income 20.01 23.40 17.0 %
Net Income 19.50 20.26 3.9 %
Average Shares 44.85 44.85 -
EPS (Riyals) 0.43 0.45 3.9 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2009 91.40 - 20.01 - 18.07 - 0.40
Q2 2009 95.71 - 19.86 - 17.04 - 0.38
Q3 2009 91.41 - 13.72 - 15.88 - 0.35
Q4 2009 95.93 - 22.60 - 5.72 - 0.13
Q1 2010 110.53 20.9 % 29.63 48.1 % 25.67 42.1 % 0.57
Q2 2010 110.45 15.4 % 26.13 31.6 % 20.70 21.5 % 0.46
Q3 2010 95.98 5.0 % 23.35 70.2 % 20.51 29.2 % 0.46
Q4 2010 109.27 13.9 % 24.73 9.4 % 17.87 212.4 % 0.40
Q1 2011 114.09 3.2 % 34.44 16.2 % 28.58 11.3 % 0.64
Q2 2011 119.28 8.0 % 34.44 31.8 % 28.64 38.4 % 0.64
Q3 2011 106.50 11.0 % 24.26 3.9 % 18.54 (9.6 %) 0.41
Q4 2011 118.41 8.4 % 28.19 14.0 % 18.96 6.1 % 0.42
Q1 2012 128.87 13.0 % 35.53 3.2 % 28.88 1.0 % 0.64
Q2 2012 137.27 15.1 % 37.60 9.2 % 29.59 3.3 % 0.66
Q3 2012 121.00 13.6 % 30.07 23.9 % 21.46 15.7 % 0.48
Q4 2012 137.61 16.2 % 31.93 13.3 % 25.03 32.0 % 0.56
Q1 2013 145.36 12.8 % 38.75 9.0 % 31.12 7.8 % 0.69
Q2 2013 142.20 3.6 % 31.78 (15.5 %) 22.19 (25.0 %) 0.49
Q3 2013 134.56 11.2 % 24.08 (19.9 %) 18.80 (12.4 %) 0.42
Q4 2013 164.16 19.3 % 33.54 5.0 % 20.39 (18.6 %) 0.45
Q1 2014 181.82 25.1 % 42.99 10.9 % 32.40 4.1 % 0.72
Q2 2014 179.74 26.4 % 56.27 77.0 % 31.06 40.0 % 0.69
Q3 2014 177.44 31.9 % 40.16 66.8 % 20.76 10.4 % 0.46
Q4 2014 194.99 18.8 % 37.85 12.9 % 10.28 (49.6 %) 0.23
Q1 2015 219.43 20.7 % 54.12 25.9 % 27.72 (14.4 %) 0.62
Q2 2015 227.86 26.8 % 64.96 15.4 % 42.29 36.1 % 0.94
Q3 2015 210.78 18.8 % 50.78 26.5 % 25.47 22.7 % 0.57
Q4 2015 220.60 13.1 % 50.34 33.0 % 35.24 242.7 % 0.79
Q1 2016 253.94 15.7 % 67.29 24.3 % 33.12 19.5 % 0.74
Q2 2016 259.77 14.0 % 84.30 29.8 % 59.29 40.2 % 1.32
Q3 2016 197.01 (6.5 %) 50.54 (0.5 %) 27.55 8.2 % 0.61
Q4 2016 189.94 (13.9 %) 4.86 (90.3 %) (69.69) (297.8 %) (1.55)
Q1 2017 202.44 (20.3 %) 41.19 (38.8 %) 15.54 (53.1 %) 0.35
Q2 2017 216.54 (16.6 %) 50.25 (40.4 %) 19.50 (67.1 %) 0.43
Q3 2017 208.34 5.8 % 46.97 (7.1 %) 27.00 (2.0 %) 0.60
Q4 2017 227.76 19.9 % 57.00 1072.0 % 23.26 133.4 % 0.52
Q1 2018 206.67 2.1 % 51.73 25.6 % 25.60 64.8 % 0.57
Q2 2018 199.05 (8.1 %) 49.59 (1.3 %) 20.26 3.9 % 0.45

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 20.35 % 20.91 % 15.14 %
Q1 2010 21.80 % 22.04 % 16.34 %
Q2 2010 22.55 % 22.04 % 16.65 %
Q3 2010 24.63 % 23.32 % 17.58 %
Q4 2010 24.36 % 25.12 % 19.88 %
Q1 2011 25.28 % 25.61 % 20.40 %
Q2 2011 26.67 % 26.85 % 21.80 %
Q3 2011 26.24 % 26.11 % 20.85 %
Q4 2011 26.48 % 26.55 % 20.67 %
Q1 2012 25.88 % 25.84 % 20.09 %
Q2 2012 25.57 % 25.38 % 19.54 %
Q3 2012 25.99 % 25.46 % 19.56 %
Q4 2012 25.75 % 25.14 % 20.00 %
Q1 2013 25.56 % 24.89 % 19.81 %
Q2 2013 24.27 % 23.17 % 18.27 %
Q3 2013 22.61 % 21.99 % 17.36 %
Q4 2013 21.86 % 20.98 % 15.78 %
Q1 2014 21.26 % 20.31 % 15.06 %
Q2 2014 23.76 % 21.17 % 15.55 %
Q3 2014 24.60 % 20.97 % 14.88 %
Q4 2014 24.15 % 19.46 % 12.88 %
Q1 2015 24.42 % 18.66 % 11.64 %
Q2 2015 24.04 % 18.90 % 12.33 %
Q3 2015 24.35 % 19.23 % 12.40 %
Q4 2015 25.06 % 21.32 % 14.88 %
Q1 2016 25.56 % 21.44 % 14.91 %
Q2 2016 26.74 % 23.27 % 16.20 %
Q3 2016 27.11 % 23.91 % 16.67 %
Q4 2016 22.98 % 16.07 % 9.33 %
Q1 2017 21.30 % 14.58 % 7.82 %
Q2 2017 18.22 % 10.27 % 3.31 %
Q3 2017 17.53 % 9.96 % 3.19 %
Q4 2017 22.85 % 18.52 % 10.12 %
Q1 2018 23.97 % 20.17 % 11.24 %
Q2 2018 24.39 % 20.91 % 11.57 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2009 44.85 - - 8.46
Q2 2009 44.85 - - 8.84
Q3 2009 44.85 - - 9.19
Q4 2009 44.85 1.26 1.26 9.29
Q1 2010 44.85 1.43 1.43 9.87
Q2 2010 44.85 1.52 1.52 9.99
Q3 2010 44.85 1.62 1.62 10.45
Q4 2010 44.85 1.89 1.89 10.85
Q1 2011 44.85 1.95 1.95 10.85
Q2 2011 44.85 2.13 2.13 11.49
Q3 2011 44.85 2.09 2.09 11.90
Q4 2011 44.85 2.11 2.11 12.32
Q1 2012 44.85 2.12 2.12 12.97
Q2 2012 44.85 2.14 2.14 12.57
Q3 2012 44.85 2.20 2.20 13.04
Q4 2012 44.85 2.34 2.34 13.60
Q1 2013 44.85 2.39 2.39 18.19
Q2 2013 44.85 2.23 2.23 17.24
Q3 2013 44.85 2.17 2.17 17.65
Q4 2013 44.85 2.06 2.06 18.11
Q1 2014 44.85 2.09 2.09 17.28
Q2 2014 44.85 2.29 2.29 17.97
Q3 2014 44.85 2.33 2.33 18.46
Q4 2014 44.85 2.11 2.11 18.69
Q1 2015 44.85 2.00 2.00 19.26
Q2 2015 44.85 2.25 2.25 18.66
Q3 2015 44.85 2.36 2.36 19.22
Q4 2015 44.85 2.91 2.91 20.01
Q1 2016 44.85 3.03 3.03 20.60
Q2 2016 44.85 3.41 3.41 21.16
Q3 2016 44.85 3.46 3.46 21.75
Q4 2016 44.85 1.12 1.87 20.18
Q1 2017 44.85 0.73 1.48 20.51
Q2 2017 44.85 (0.16) 0.59 20.93
Q3 2017 44.85 (0.17) 0.58 21.52
Q4 2017 44.85 1.90 1.93 21.98
Q1 2018 44.85 2.13 2.15 22.38
Q2 2018 44.85 2.14 2.17 21.83

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 30.02 30.02 3.94
Q2 2013 26.07 26.07 3.37
Q3 2013 25.16 25.16 3.09
Q4 2013 26.43 26.43 3.01
Q1 2014 29.41 29.41 3.56
Q2 2014 32.48 32.48 4.14
Q3 2014 32.55 32.55 4.11
Q4 2014 26.03 26.03 2.94
Q1 2015 30.88 30.88 3.21
Q2 2015 28.44 28.44 3.44
Q3 2015 22.37 22.37 2.74
Q4 2015 19.04 19.04 2.77
Q1 2016 16.69 16.69 2.46
Q2 2016 18.71 18.71 3.02
Q3 2016 15.98 15.98 2.54
Q4 2016 58.81 35.19 3.27
Q1 2017 73.26 36.05 2.60
Q2 2017 NEG 79.11 2.25
Q3 2017 NEG 69.35 1.87
Q4 2017 22.90 22.57 1.98
Q1 2018 26.45 26.11 2.51
Q2 2018 27.67 27.32 2.72

Business Segments (Million)

Compared With The
Period Medical Services Pharmacies
Q1 2010 85.68 24.84
Q2 2010 84.16 26.29
Q3 2010 74.56 21.42
Q4 2010 84.07 25.20
Q1 2011 89.20 24.89
Q2 2011 94.51 24.77
Q3 2011 84.02 22.49
Q4 2011 93.61 24.79
Q1 2012 102.83 26.04
Q2 2012 109.44 27.83
Q3 2012 96.87 24.14
Q4 2012 109.84 27.76
Q1 2013 117.72 27.65
Q2 2013 115.21 26.98
Q3 2013 109.28 25.28
Q4 2013 134.04 30.12
Q1 2014 149.16 32.67
Q2 2014 149.31 30.43
Q3 2014 149.57 27.87
Q4 2014 161.93 33.06
Q1 2015 184.80 34.63
Q2 2015 196.41 31.45
Q3 2015 180.37 30.41
Q4 2015 191.80 28.80
Q1 2016 220.78 33.16
Q2 2016 230.14 29.62
Q3 2016 173.08 23.93
Q4 2016 162.66 27.28
Q1 2017 176.04 26.40
Q2 2017 190.13 26.41
Q3 2017 185.07 23.27
Q4 2017 202.08 25.76
Q1 2018 183.47 23.20
Q2 2018 175.85 23.20

Analysts Estimates (Million)

Item Q2 2018 (e) Q2 2018 (a) Change‬
Average 26.62 20.26 (23.9 %)

Estimates vs Actual (Million)

Item Q2 2018 (e) Q2 2018 (a) Change
Al Rajhi Capital 24.00 20.26 (15.6) %
Arbah Capital 24.90 20.26 (18.6) %
Albilad Capital 25.00 20.26 (18.9) %
AlJazira Capital 28.00 20.26 (27.6) %
OSOOL AND BAKHEET 28.80 20.26 (29.6) %
Sico 29.00 20.26 (30.1) %

Current
Market Cap (M Riyal) 9,014.85
Enterprise Value (EV) (M) 8,711.86
Shares Outstanding ((M)) 44.85
EPS ( Riyal) (TTM) 5.93
Book Value (BV) ( Riyal) 34.22
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 36.04
P/E (TTM) 33.90
Price/book 5.87
Return on Average Assets (%) (TTM) 13.2
Return on Average Equity (%) (TTM) 18.6

Share Price

201.00
1.60 0.80 %

National Medical Care Co. (CARE)


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.