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National Medical Care Company announces its Annual Financial Results for the Period Ending on 2022-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 917,935 | 845,381 | 8.58 | ||
| Gross Profit (Loss) | 289,681 | 246,469 | 17.53 | ||
| Operational Profit (Loss) | 198,502 | 164,402 | 20.74 | ||
| Net Profit (Loss) after Zakat and Tax | 170,075 | 136,357 | 24.73 | ||
| Total Comprehensive Income | 184,164 | 132,176 | 39.33 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 1,263,589 | 1,124,275 | 12.39 | ||
| Profit (Loss) per Share | 3.79 | 3.04 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net profit of SR 170.1 million (2021: SR 136.4 million) for the current year improved by 24.7% compared to previous year due to the following. - Net revenue improved by 8.6% during 2022 compared to the previous year due to higher volume of business and increased patient visits including surgeries and admissions. - Lower cost of sale expense ratio relative to revenue due to improved absorption of costs resulting in higher gross profit and margin. - GP margin improved from 29.2% in the previous year to 31.6% in the current year. - Reduced sales and marketing expenses in the current year due to lower provisions against expected credit losses. - Decrease in Zakat charge due to reduced zakat base for the year. The above gains were partially offset by the following: - Increase in general and administrative expenses. - Reduced other income. EBITDA for the year reached SR 244.2 million compared to SR 214.6 million during 2021 with improved margin of 26.6% - a 1.2 ppt improvement over previous year. Net profit margin for the year increased from 16.1% in the previous year to 18.5% in 2022. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None |
| Reclassification of Comparison Items | Certain prior year figures have been reclassified to conform with current year’s presentation. Please refer to the notes in the financial statements. |
| Additional Information | None |
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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