‎“Saudi German Health” profits jump 337% during 2022 to SR75 ‎mln

The net profit after zakat and tax of the Middle East Healthcare Company “Saudi German Health” jumped to 75 million riyals during the year 2022 AD, compared to 17 million riyals in the previous year, at a rate of 337%. This came after the announcement today of the annual financial results ending in 12-31-2022.

The operational profit amounted to 140 million riyals in the current year, compared to 54 million riyals in the previous year, an increase of 159%.

The gross profit amounted to 680 million riyals during the year ending in 2022, compared to 608 million riyals in the previous year, with a growth of 12%.

Earnings per share in the current year amounted to 0.82 riyals, compared to 0.19 riyals in the previous year.

The reason for the increase in net profit for the current year compared to last year is due to:

1- Increasing the number of patients in both outpatient and inpatient clinics

2- Increased revenue due to adjusted pricing with key clients, approval and case mix

3- An increase in efficiency due to the intensification of new facilities

The company said that during the year 2022 AD, three health care facilities were opened in Jeddah, Abha and Makkah Al-Mukarramah, bringing the number of the group’s facilities to 8 hospitals and 2 clinic complexes in seven cities in the Kingdom of Saudi Arabia. Note that the result of the current period included a negative result achieved by the three new facilities, with a value of 54 million riyals.