EQUIPMENT HOUSE Profits Fall 35% to SAR 24.6 Million by End-2024

Scientific & Medical Equipment House Co. announced on Tuesday that its net profit declined to SAR 24.6 million by the end of 2024, compared to SAR 38 million in 2023, following the announcement today of the preliminary financial results for the duration ending December 31, 2024.

The operational profit decreased by 3% to SAR 76 million by the end of 2024, compared to SAR 77 million in 2023.

The shareholders’ equity (excluding non-controlling interests) for the current year decreased by 0.4% to SAR 505 million, compared to SAR 507 million in 2023.

The profits per share for the current year amounted to SAR 0.87, compared to SAR 1.34 in 2023.

The Company stated in a statement today on Tadawul that the reason for the SAR 100 million increase in revenues, or 13%, this year compared to the previous year is due to the following:

• An 11% increase in revenues of operation and supply divisions due to the commencement of several new projects in the sub-divisions of non-medical operations, catering sectors and biomedical maintenance, that had been announced in previous durations;

• A 24% increase in revenues from the contracting sector due to higher completion rates of projects; and

• A 24% increase in sales from the medical devices and equipment division.