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Aldawaa Medical Services Co. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 1,310,1911,266,7683.431,294,8211.19
Gross Profit (Loss) 506,789457,97710.66494,1752.55
Operational Profit (Loss) 90,55266,91135.3370,71428.05
Net Profit (Loss) after Zakat and Tax 80,67252,93952.3987,109-7.39
Total Comprehensive Income 14,443130,512-88.9382,396-82.47
All figures are in (Thousands) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 2,605,0122,476,4835.19
Gross Profit (Loss) 1,000,965909,93410
Operational Profit (Loss) 161,266141,26214.16
Net Profit (Loss) after Zakat and Tax 167,781131,77627.32
Total Comprehensive Income 96,839219,972-55.98
Total Share Holders Equity (after Deducting Minority Equity) 1,086,0251,253,302-13.35
Profit (Loss) per Share 1.971.55
All figures are in (Thousands) 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 increase of SR 27.7 million (52.4%) in net profit in comparison to the same quarter in year 2021 is due to the following:

Revenues: For the second quarter of 2022, the Company has achieved an increase in revenues of SR 43.4 million (3.4%) in comparison to the same quarter in year 2021.

Gross profit: The gross profit for the second quarter of year 2022 came to be SR 506.8 million with a percentage of 38.7% from revenues, achieving an increase of SR 48.8 million (10.7 %) compared to year 2021 (SR 457.9 million with a margin of 36.2% from revenues).

Operating profit: For the second quarter of 2022, the Company has achieved an increase of SR 23.6 million (35.3%) in operating profit with a total of of SR 91 million (7% from revenues), compared to SR 67 million (5.3% from revenues) for the same quarter of 2021.

Net profit: The net profit margin for the second quarter of year 2022 came to be %6.2 from revenues, compared to 4.2% for the same quarter of year 2021, achieving an increase of SR 27.7 million (52.4%), the reason is mainly due to the increase in sales which came as a result of the opening of new branches during the second half of the year 2021 and the first half of the year 2022 which has increased the gross margin and operating profit.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is The reason for (the decrease) in the net profit for the second quarter of year 2022 compared to the previous quarter with an amount of SR 6.4 million (7.4%) is the following:

Revenues: The Company has achieved an increase in revenues in second quarter with an amount of SR 15.4 million (1.2%) compared to the previous quarter.

Gross profit: The gross profit for the second quarter of the year 2022 has increased with an amount of SR 12.6 million (2.6%) compared to the previous quarter.

Operating profit: The operating profit has increase in the second quarter of the year 2022 compared to the previous quarter with an amount of SR 19.8 million (28.1%).

Net profit: (The net profit has decrease) in the second quarter of 2022 compared to the previous quarter with an amount of SR 6.4 million (7.4%) due to the decrease in the fair value gain on swap derivatives liabilities in comparison to the previous quarter.

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 the increase in net profit for this period of the year 2022 compared to the same period of the year 2021 is the following:

Revenues: the Company has achieved an increase of SR 128.5 million in revenues during the first half of the year 2022 with an increase of 5.19% compared to the first half of the year 2021.

Gross profit: For the first half of the year 2022, the Company achieved a gross profit of SR 1,001 million with a percentage of 38.4% from the revenues, compared to SR 910 million (36.7%) for the first half of the year 2021, making increase of 91 million (10%) between the two periods.

Operating profit: The operating profit for the first half of the year 2022 came to be SR 161 million (6.2% from revenues), making an increase of SR 20 million (14.16%) compared to the first half of the year 2021 which came to be SR 141 million (5.7% from revenues).

Net profit: During the first half of the year 2022, the Company has achieved a net profit of SR 167.7 million with a margin of 6.4% of net revenues, compared to a net profit of SR 131.7 million and a margin of 5.3% for the first half of the year 2021, achieving an increase of SR 36 million (27.32%) compared to the same period of the year 2021, which came as a reason of increase in sales due to the opening of new branches in the second half of 2021 and the first quarter of year 2022 which has increased both gross margin and operating profit.

Statement of the type of external auditor's report Unmodified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion Not applicable
Reclassification of Comparison Items Not applicable
Additional Information Not applicable

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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