Dallah Health profits increase to SAR 95 million during Q1 by 15%

Dallah Healthcare Co. net profit after zakat and tax grew to SAR 95 million during the first quarter, compared to SAR 83 million in the same quarter of last year, by 15%. This came after the announcement on Monday of the interim financial results for the period ended on 31.03.2023 (three months).

The operational profit amounted to SAR 138 million in the first quarter, compared to SAR 115 million in the same quarter of the previous year, an increase of 20%.

Gross profit amounted to SAR 267 million in the current period, compared to SAR 232 million in the same period last year, an increase of 15%.

Profits per share in the current period amounted to SAR 0.98, compared to SAR 0.92 in the same period last year.

Net profit attributable to the shareholders for the first quarter of 2023 increased by 15%, to reach SAR 95 million, compared to SAR 83 million for the same quarter of 2022 is due to:

1- Revenue increased by 18% for the first quarter of 2023 to reach SAR 717 million compared to SAR 609 million for the same quarter of 2022, mainly due to the increase in the number of Patients (out & inpatient) to the company’s hospitals and the increase in occupancy rates in both Beds and clinics which led to an increase in Net profit before zakat, financing cost, depreciation and amortization (EBITDA) by 26% to reach SAR 167 million for the first quarter of 2023, compared to SR 133 million for the same period of 2022.

2- decrease in the company’s share in losses from investment in Investee companies decreased by SR 8 million in the first Quarter of 2023 to reach SAR 2 million compared to SAR 10.4 million for the same quarter of the previous year. This is due to the improved performance of the investee companies.

This is despite the increase in financing expenses, which reached SAR 28 million for the first quarter of 2023, compared to SAR 11 million for the same quarter of 2022.

Revenues for the first quarter of the year 2023 increased by 3% to reach SAR 717 million with an increase by SAR 23 million compared to SAR 694 million for the fourth quarter of 2022, mainly due to the increase in the number of Patients (out & inpatient) to the company’s hospitals and the increase in occupancy rates in both Beds and clinics which is led to the net income attributable to the shareholders of the company for the first quarter of 2023 increased by 21%, to reach SAR 95 million compared to SAR 78 million the fourth quarter of the year 2022 which in turn reflects the earnings per share on the shareholders of the company, to reach SAR 0.98 per share, compared to SAR 0.87 per share.

The company drew the attention to the shareholders that the interim condensed consolidated financial statements for the period ended 31 MAR 2023 will be available through the following link on the company’s website after submitting them to the related authorities.