4007 · 02/11/2022 16:16:52 · Announcement #70769 · View on Saudi Exchange

Al Hammadi Holding announces its Interim Financial Results for the Period Ending on 2022-09-30 ( Nine Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 246.92219.9212.28281.94-12.42
Gross Profit (Loss) 83.588.16-5.29109.09-23.46
Operational Profit (Loss) 66.1952.2426.773.88-10.41
Net Profit (Loss) after Zakat and Tax 57.113.581,495.2565.1-12.27
Total Comprehensive Income 56.483.371,575.9663.04-10.41
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 779.75670.116.36
Gross Profit (Loss) 288.67255.5212.97
Operational Profit (Loss) 210.17114.2683.94
Net Profit (Loss) after Zakat and Tax 184.1779.42131.89
Total Comprehensive Income 182.9681.77123.75
Total Share Holders Equity (after Deducting Minority Equity) 1,698.251,720.43-1.29
Profit (Loss) per Share 1.150.66
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The net profit for the current quarter has increased to reach 57.11 million Saudi riyals compared to the net profit for the same quarter of the previous year amounted to 3.58 million Saudi riyals, with an increase in the net profit margin ratio for the current quarter to 23.13% compared to1.63% for the same quarter of the previous year. The increase in net profit is mainly due to the following: 1. The increase in revenues of medical services segment of Al Hammadi Nuzha and Suwaidi branch hospitals resulted from the increase in the number of outpatients and inpatients compared with the same quarter last year where the growth rate in revenues for the current quarter compared to the same quarter of the previous year reached 12.28%. 2. The loss from discontinued operations from Al Hammadi Olaya Hospital for the same quarter of the previous year amounted to 36.74 million Saudi riyals as a result of stopping the activities of Al Hammadi Olaya Hospital for the purpose of establishing a new hospital to replace it. 3. The decrease in the provision for credit losses added during the current quarter compared to the provision added during the same quarter last year based on the updated data related to the amounts expected to be recovered and used in the model for calculating expected credit losses in accordance with the requirements of IFRS No. (9).
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is The net profit for the current quarter has decreased compared to the net profit for the previous quarter of the current year due to the decrease in revenues of medical services and pharmaceutical products segments of Al Hammadi Nuzha and Suwaidi branch hospitals for the current quarter, which included the holiday, with a decrease of 12.42% in revenues for the current quarter.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The net profit for the current period has increased to reach184.17 million Saudi riyals, compared to the net profit for the same period of the previous year amounted to 79.42 million Saudi riyals, with an increase in the net profit margin ratio for the current period to 23.62% compared to 11.85% for the same period of the previous year. The increase in net profit is due to the following: 1. The increase in revenues of medical services segment of Al Hammadi Nuzha and Suwaidi branch hospitals resulted from the increase in the number of outpatients and inpatients compared with the same period last year where the growth rate in revenues for the current period compared to the same period of the previous year reached 16.36%. 2. The loss from discontinued operations from Al Hammadi Olaya Hospital for the same period of the previous year amounted to 8.78 million Saudi riyals as a result of stopping the activities of Al Hammadi Olaya Hospital for the purpose of establishing a new hospital to replace it. 3. The decrease in the provision for credit losses added during the current period compared to the provision added during the same period last year based on the updated data related to the amounts expected to be recovered and used in the model for calculating expected credit losses in accordance with the requirements of IFRS No. (9).
Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items The comparative figures for the financial statements for the quarter and the period ended at September 30,2021 have been presented in line with the reclassification of the financial statements referred to in Note No. (38) in the audited financial statements for the year ended December 31, 2021 and Note No. (21) in the condensed consolidated interim financial statements for the period ended September 30, 2022.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.