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Mouwasat Medical Services Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 722.78 | 664.22 | 8.816 | 773.06 | -6.504 |
| Gross Profit (Loss) | 345.83 | 328.39 | 5.31 | 394.57 | -12.352 |
| Operational Profit (Loss) | 195.28 | 194.2 | 0.556 | 210.37 | -7.173 |
| Net profit (Loss) | 171.58 | 166.61 | 2.983 | 180.69 | -5.041 |
| Total Comprehensive Income | 171.58 | 166.61 | 2.983 | 180.69 | -5.041 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 3,448.64 | 3,089.45 | 11.626 |
| Profit (Loss) per Share | 0.86 | 0.83 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenues during the current quarter increased by 8.8% to reach SAR 723 million compared to SAR 664 million for the same quarter of the previous year due to: 1- The increase in the number of OPD visits and the increase in occupancy rates in inpatient departments supported by the start of operation of the Mouwasat Center in Madinah for rehabilitation and extended care as of January 2024. 2- Improving some contractual terms with the company's customers. 3- Continued performance improvement of newly specialized resources in the company’s hospitals 4- Continuous enhancement of operating efficiency of the available resources |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The company's net profit increased by 3% during the current quarter, reaching SAR 172 million, compared to SAR 167 million for the same quarter of the previous year due to: 1- Growth in revenue 2- Increase in other income In this context, it is noteworthy that despite the increase achieved in the company's profits for the current quarter compared to the same quarter of the previous year, the increase in debt provision formations related to customer balances has put pressure on the profit margins for the current quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenues during the current quarter decreased by 6.5% compared to the previous quarter due to a relative decrease in both the number of visits in the outpatient sector and occupancy rates in the internal departments affected by the seasonality of the current quarter, which coincided with the entry of the blessed month of Ramadan. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The company's net profit decreased by 5% during the current quarter compared to the previous quarter due to a decrease in revenue by 6.5% |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to comply with the current period presentation of the condensed consolidated interim financial statements |
| Additional Information | The company would like to indicate the possibility of sending investors and financial analysts’ inquiries via email (Shares@mouwasat.com) within 6 working days from the date of publishing the financial statements. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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