IssuerAnnouncementDetailsV2Portlet
Actions
Al Hammadi Holding announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 276.66 | 281.94 | -1.87 | 298.6 | -7.35 |
| Gross Profit (Loss) | 92.08 | 109.09 | -15.59 | 120.4 | -23.52 |
| Operational Profit (Loss) | 93.19 | 73.88 | 26.14 | 91.76 | 1.56 |
| Net Profit (Loss) after Zakat and Tax | 81.85 | 65.1 | 25.73 | 81.42 | 0.53 |
| Total Comprehensive Income | 81.11 | 63.04 | 28.66 | 81.52 | -0.5 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 575.26 | 532.83 | 7.96 |
| Gross Profit (Loss) | 212.49 | 205.17 | 3.57 |
| Operational Profit (Loss) | 184.95 | 143.97 | 28.46 |
| Net Profit (Loss) after Zakat and Tax | 163.27 | 127.06 | 28.5 |
| Total Comprehensive Income | 162.63 | 126.48 | 28.58 |
| Total Share Holders Equity (after Deducting Minority Equity) | 1,761.19 | 1,689.77 | 4.23 |
| Profit (Loss) per Share | 1.02 | 0.79 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| 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 during Q2 2023 recorded SAR 81.85 million, increasing 25.73% year-on-year from the SAR 65.1 million booked during the same quarter of the previous year. Net profit growth was mainly driven by the following: • Expected credit loss provision, which booked a credit loss reversal of SAR 17.84 million during the second quarter of 2023 as the Company continued improving collection rates. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Net profit during Q2 2023 recorded SAR 81.85 million, up a marginal 0.53% q-o-q from SAR 81.42 million in Q1 2023. The increase in net profit during the quarter is mainly attributable to: • Expected credit loss provision, due to the Company recording a credit loss reversal of SAR 17.84 million during Q2 2023 compared to an expected credit loss of SAR 5.88 million in the previous quarter. The effects of the credit loss reversal, however, were mostly counteracted by lower revenues and gross profitability as a result of lower patient volumes due to the holy month of Ramadan and Eid vacations falling in the second quarter of the year. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit reached SAR 163.27 million during 1H 2023, increasing 28.58% y-o-y from SAR 127.06 million in 1H 2022. The increase in net profit during the period was mainly driven by the following: • Revenues, which grew by 7.96% y-o-y to SAR 575.26 million during 1H 2023. Increased revenues for the period were dual driven by higher revenues reported by both Al Hammadi’s medical services and pharmaceutical segments. • Expected credit loss provision, which booked a credit loss reversal of SAR 17.84 million during the second quarter of 2023 bringing the net provision for expected credit losses reversed for the current period to SAR 11.96 million, compared to an expected credit loss of SAR 24.31 million in the same period of the previous year. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | 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.
Share
Company Performance
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions