Mouwasat Medical Services Co. announces its Annual Financial results for the period ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 2,705.51 | 2,334.11 | 15.91 | ||
| Gross Profit (Loss) | 1,313.08 | 1,101.57 | 19.2 | ||
| Operational Profit (Loss) | 756.86 | 672.7 | 12.51 | ||
| Net profit (Loss) | 657.69 | 599.3 | 9.74 | ||
| Total Comprehensive Income | 654.21 | 593.66 | 10.2 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 3,277.06 | 2,922.85 | 12.12 | ||
| Profit (Loss) per Share | 3.29 | 3 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Revenues during the year 2023 increased by 15.9% to reach 2,706 million Saudi riyals, compared to 2,334 million Saudi riyals for the year 2022 due to:
1- The increase in the number of OPD visits and the increase in occupancy rates in inpatient departments, supported by the start of operation of new projects during the second half of 2022. 2- Continued performance improvement of newly specialized resources in the company’s hospitals 3- Continuous enhancement of operating efficiency of the available resources |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The company's net profit increased by 10.2% during the year 2023, reaching 654.2 million SR, compared to 593.7 million SR for the year 2022, which led to an increase in earnings per share for the year 2023 to reach 3.29 Riyals per share compared to the year 2022, where earnings per share reached 3 Riyals. This increase is due to:
1- Growth in revenues 2- The gross profit margin improved during the year 2023, reaching 48.5%, while the gross profit margin for the year 2022 reached 47.2%. 3- An increase in other revenues |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to comply with the current period presentation of the consolidated financial statements. |
| 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. |
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