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Dr. Sulaiman Al Habib Medical Services Group announces its Interim Financial Results for the Period Ending on 2021-03-31 ( Three Months )

SULAIMAN ALHABIB 4013 -5.54% 313.60 -18.40
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 1,694.79 1,343.34 26.162 1,691.35 0.203
Gross Profit (Loss) 549.42 399.85 37.406 545.81 0.661
Operational Profit (Loss) 349.63 258.61 35.195 329.05 6.254
Net Profit (Loss) after Zakat and Tax 319 246.6 29.359 317.83 0.368
Total Comprehensive Income 312.97 242.57 29.022 311.04 0.62
All figures are in (Millions) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Total Share Holders Equity (after Deducting Minority Equity) 5,014.71 4,636.45 8.158
Profit (Loss) per Share 0.91 0.7
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 Income attributable to the company’s shareholders for Q1 2021 increased by 29.36% to reach SAR 319.00 million as compared to SAR 246.60 million in the corresponding quarter of the previous year, which is primarily due to the following:

1. Revenues: the revenues grew by 26.16% in Q1 2021 reaching SAR 1,694.79 million, with an increase of SAR 351.45 million as compared to SAR 1,343.34 in the corresponding quarter of the previous year, as a result of the growth in all group segments.

Revenue growth for Q1 2021 was mainly driven by the growth in hospital segment, due to the increase in both numbers of patients and the increase in inpatient occupancy in addition to Al-Khobar Hospital revenue growth. Hospital segment growth was positively reflected in the increase in pharmacy segment revenue as well, in addition to the increase in HMG solutions segment revenue as compared to the corresponding quarter of the previous year.

2. EBITDA has increased by SAR 92.62 million reaching SAR 445.89 million, with an increase of 26.22%, while the group continue to maintain EBITDA margin at 26.31% compared to 26.30% in the corresponding quarter of the previous year.

3. Net Income for Q1 2021 increased by 29.36% to reach approximately SAR 319 million, with an improved net income margin reaching 18.82% of revenue compared to 18.36% for the corresponding quarter of the previous year. Net Income has improved driven by the growth in revenues due to the increase in both the numbers of patients and the increase in inpatient occupancy. In addition to the acceleration of growth in Al-Khobar Hospital during Q1 2021 compared to the corresponding quarter of the previous year.

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 0.37% in Q1 2021 compared to Q4 2020 which was mainly due to the slight increase in revenue by 0.20% during Q1 2021 compared to Q4 2020. Revenue was not impacted by the usual seasonality between the first and fourth quarter during this period due to the preventive measures imposed by Covid-19 pandemic.
Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items N/A
Attached Documents   
Dr. Sulaiman Al Habib Medical Services Group (HMG) reports Q1 2021 net income growth of 29.36%

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