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Mouwasat Medical Services Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 530.98549.06-3.292526.70.812
Gross Profit (Loss) 244.4271.52-9.988246.46-0.835
Operational Profit (Loss) 150.1173.32-13.397154.77-3.017
Net Profit (Loss) after Zakat and Tax 142.66161.1-11.446141.350.926
Total Comprehensive Income 142.66161.1-11.446141.350.926
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 1,591.811,511.445.317
Gross Profit (Loss) 745.16711.084.792
Operational Profit (Loss) 463.37427.498.393
Net Profit (Loss) after Zakat and Tax 431.19384.8612.038
Total Comprehensive Income 431.19384.8612.038
Total Share Holders Equity (after Deducting Minority Equity) 2,460.332,140.3714.948
Profit (Loss) per Share 4.313.85
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
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 reason for the decrease in net profit during the current quarter compared to the corresponding quarter of the previous year due to: -

1- decrease in revenue by 3.3% resulting from: -

A. change in the seasonal pattern for the third quarter of the previous year, due to the impact of decrease in travel for summer vacations as a result of the exceptional conditions imposed by the Corona pandemic, which led to an unprecedented rise in operating rates for that quarter.

B. decrease in transfers from Ministry of Health during the current quarter compared to the same quarter of the previous year.

2- increase in certain operating and general costs and expenses during the current quarter compared to the same quarter of the previous year

3- increase in zakat expense during the current quarter compared to the same quarter of the previous year to match the zakat base for the year 2021.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is The reason for the increase in net profit during the current quarter compared to the previous quarter is due to:

1- marginal increase in operating revenues.

2- Increase in company’s share of profits from an associate company during the current quarter compared to the previous quarter

3- decrease in the financing cost due to the decrease in the balance of the loans with the value of the instalments paid.

The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is the Reason for increase in net profit for current period compared to the similar period of the previous year is due to:

1- Increase in revenue by 5.3% resulting from: -

A. continuous effective utilization of newly specialized resources.

B. enhancement of contractual terms with customers.

C. continuous enhancement of operating efficiency of the available resources.

2- Decrease in certain items of selling and distribution expenses during the current Period compared to corresponding Period.

3- Increase in company’s share of profits from an associate company during the current Period compared to corresponding Period.

4- Decrease in the financing cost due to the decrease in the balance of the loans with the value of the instalments paid.

Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items N-A
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 the Saudi Stock 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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