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Al Hammadi Holding 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 | 277.04 | 298.6 | -7.22 | 303.68 | -8.772 |
| Gross Profit (Loss) | 91.06 | 120.2 | -24.242 | 106.45 | -14.457 |
| Operational Profit (Loss) | -74.9 | -91.76 | -18.374 | 71.05 | - |
| Net profit (Loss) | 64.04 | 81.42 | -21.346 | 65.19 | -1.764 |
| Total Comprehensive Income | 64.31 | 81.52 | -21.111 | 62.63 | 2.682 |
| 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) | 1,853.23 | 1,736.09 | 6.747 |
| Profit (Loss) per Share | 0.4 | 0.51 | |
| 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 declined 7.2% to SAR 277.04 million in Q1 2024, down from SAR 298.6 million in Q1 2023, due to the anticipated slowdown in patient traffic associated with the holy month of Ramadan and spring break vacations. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit recorded SAR 64.04 million in Q1 2024, down 21.3% from SAR 81.42 million booked during the same period last year. Lower net profitability was mainly driven by the following: 1) Lower revenue which declined 7.2% from the same quarter a year ago. 2) Higher costs, on the back of the increase in medical staff costs owing to annual raises and new hires to staff Al Hammadi’s capacity expansions and new service offerings. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenues declined 8.8% to SAR 277.04 million in Q1 2024, from SAR 303.68 million in Q4 2023. This was primarily driven by lower volumes across both inpatient and outpatient segments owing to an anticipated seasonal slowdown. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net profit marginally declined 1.8% to SAR 64.04 million compared to SAR 65.19 million in Q4 2023.This decline is attributed to an 8.8% decline in revenues for the current quarter compared to the previous quarter. |
| 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) | None |
| Reclassification of Comparison Items | As indicated in note (22) of the condensed consolidated interim financial statements, some comparative figures have been reclassified to conform with the presentation for the current period, to enhance the comparability of information and to make it more relevant to users of the condensed consolidated interim financial statements. |
| Additional Information | - |
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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