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Dr. Sulaiman Al Habib Medical Services Group announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 1,990.861,694.7917.4691,968.131.154
Gross Profit (Loss) 658.56549.4219.864643.382.359
Operational Profit (Loss) 422.09349.6320.724396.256.521
Net Profit (Loss) after Zakat and Tax 390.531922.413383.591.801
Total Comprehensive Income 391.29312.9725.024383.022.159
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after Deducting Minority Equity) 5,485.465,014.719.387
Profit (Loss) per Share 1.120.91
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 Net Income attributable to the company’s shareholders for Q1 - 2022 increased by 22.42% to reach SAR 390.50 million as compared to SAR 319.00 million in the corresponding quarter of the previous year, which is primarily due to the following:

1. Revenues: the revenues grew by 17.47% in Q1 - 2022 reaching SAR 1,990.86 million, with an increase of SAR 296.07 million as compared to SAR 1,694.79 million in the corresponding quarter of the previous year, as a result of the growth in all group segments.

Revenue growth for Q1 - 2022 was mainly driven by the continuous growth in hospital segment, due to the increase in both numbers of patients and the increase in occupancy for both inpatient and outpatient. Hospital segment growth was positively reflected in the increase in pharmacy segment revenue as compared to the corresponding quarter of the previous year.

2. EBITDA for Q1 - 2022 increased by SAR 74.63 million reaching SAR 520.52 million, with an increase of 16.74% compared to the same quarter of the previous year, while the group continue to maintain EBITDA margin at 26.15%.

3. Net Income for Q1 - 2022 increased by 22.42% to reach SAR 390.50 million, with an improved net income margin reaching 19.61% of revenue compared to 18.82% for the corresponding quarter of the previous year. Net Income has improved, driven by the revenue growth due to the increase in the number of patients and the increase in occupancy for both inpatient and outpatient.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is Net income attributable to the company’s shareholders increased slightly by 1.80% in Q1 - 2022 compared to Q4 - 2021 which was mainly due to the slight increase in revenue by 1.16% during Q1 - 2022 compared to Q4 - 2021.
Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items None
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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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