Latest news with #DallahHealthcareCompany
Zawya
16-05-2025
- Business
- Zawya
Saudi: Dallah Healthcare's net profits grow 30% in Q1-25
Riyadh - Dallah Healthcare Company reported 30.39% higher net profits at SAR 155.56 million in the first quarter (Q1) of 2025, compared to SAR 119.30 million in Q1-24. The earnings per share (EPS) stood at SAR 1.59 as of 31 March 2025, marking a 30% hike from SAR 1.22 in Q1-24, as per the financial results. Furthermore, the revenues rose by 6.20% year-on-year (YoY) to SAR 832.75 million in the first three months (3M) of 2025 from SAR 784.06 million. Quarter-on-quarter (QoQ), the net profits in Q1-25 soared by 36.57% from SAR 113.90 million in Q4-24, while the revenues increased by 2.96% from SAR 808.76 million. At the end of December 2024, Dallah Healthcare generated an annual rise in net profits to SAR 471.20 million from SAR 360.12 million. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Argaam
10-03-2025
- Business
- Argaam
Dallah Healthcare Group posts 31% profit leap to SAR 471M in 2024
Having disclosed exceptional financial results for the fiscal year ended December 31, 2024, Eng. Tarek Alkasabi, Chairman of the Board of Directors of Dallah Healthcare Company, said that the company's performance in 2024 continues its growth journey, always driven by a commitment to providing high-quality healthcare services to patients and delivering value to shareholders. He pointed out that the compound annual growth rate (CAGR) of the group's revenues over the past five years has reached 25%, clearly reflecting the success of its strategic expansion plans, ongoing investments in advanced medical technologies, and the company's ability to keep up with the growing demands of the healthcare sector. Eng. Alkasabi affirmed that the year 2024 witnessed strong growth across various financial indicators, supported by the company's expansion, its keenness on enhancing operational efficiency, the continuous increase in patient numbers, and market share growth. He noted that revenues increased by 9%, gross profit by 12%, and net profit by 31% compared to 2023. He added that one of the positive indicators achieved by the company during the year was the operational cash flow, which reached SAR 678 million, compared to SAR 625 million in the previous year. This amount is sufficient to finance asset additions, dividend distributions, and debt servicing, while also generating a surplus. The company earlier previously announced 9% growth in revenue for 2024, reaching SAR 3.206 billion, compared to SAR 2.943 billion in the previous year. This growth was driven by increased operational capacity, enhanced efficiency, and the continuous rise in the number of hospital patients. The number of patients increased by 4% for outpatient and emergency visits and 3% for inpatients, with the company now receiving more than 2.8 million visits annually across its hospitals. Contributors to the increase in the company's annual revenue include the continuous growth in the provision of advanced medical procedures across the group's hospitals. Positive contributions also came from the expansion of Dallah Namar Hospital in 2024, which includes a dedicated outpatient building with 150 clinics across various specialties, as well as the opening of Dallah Clinics in the Al-Yarmouk district, Riyadh. Additionally, Makkah Medical Center experienced higher inpatient and outpatient numbers due to increased demand for healthcare services in Makkah, especially during the Hajj and Umrah seasons. Gross profit jumped 12% year-over-year (YoY), outpacing the revenue growth, reaching SAR 1.207 billion compared to SAR 1.079 billion in the previous year. This led to an improvement in the gross profit margin to 38%, up from 37% last year. EBITDA climbed 19% YoY, reaching SAR 751 million, up from SAR 630 million in the previous year. EBITDA margin also expanded to 23% from 21% last year. Net profit surged 31% to SAR 471 million, compared to SAR 360 million in the previous year, marking an increase of SAR 111 million. The annual net profit margin improved to 15%, up from 13% last year. Consequently, earnings per share (EPS) increased by 31% to SAR 4.83, compared to SAR 3.70 in the previous year. The rise in net profit is primarily attributed to higher revenue, improved spending efficiency, and enhanced performance of affiliated companies. In Q4 2024, the company experienced a decline in revenue and net profit attributable to its shareholders compared to Q3 2024. The group's revenue decreased by SAR 39 million during Q4 2024, primarily due to its investment in Care Shield Holding Co. (CSHC), which saw a drop in revenue during the quarter as a result of settlements with insurance companies—partially non-recurring impacts. Additionally, Makkah Medical Center's revenue in Q4 2024 returned to its usual quarterly level after peaking during the Hajj season, which fell in the second and third quarters of the year. Meanwhile, the rest of the group's companies recorded solid revenue growth in Q4, contributing to an increase of SAR 21 million in their profits. This strong financial momentum is driven by the company's strategic focus on expansion and growth, continuous investment in advanced healthcare infrastructure, and commitment to enhancing the quality of medical services to meet the evolving needs of the community. This is evident in the 6% year-on-year (YoY) increase in total assets, with a compound annual growth rate exceeding 13% over the past five years, reaching SAR 6,615 million by the end of 2024. Dallah Healthcare is listed on Tadawul under the symbol 4004 (ISIN: SA135G51UI10) and is one of the leading providers of healthcare services in the Kingdom of Saudi Arabia.
Zawya
05-03-2025
- Business
- Zawya
Saudi: Dallah Healthcare records $125.5mln net profit in 2024 on back of 9% higher revenue
Dallah Healthcare Company posted a 30.84% increase in 2024 net profit to SAR 471.20 million, compared with SAR 360.12 million in 2023, according to the financial results. The positive result is attributed to an 8.93% growth in revenue to SAR 3.20 billion during the January-December 2024 period from SAR 2.94 billion in the same duration a year earlier. The annual rise in revenue resulted from higher operational capacity, performance efficiency, and continued growth in the number of visitors to the group's hospitals. Moreover, the earnings per share (EPS) stood at SAR 4.83 in 2024, marking a 30.60% increase from SAR 3.70 in the prior year. It is worth noting that during the first nine months (9M) of 2024, Dallah Healthcare logged net profits of SAR 357.29 million as well as SAR 2.39 billion worth of revenue. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
05-03-2025
- Business
- Zawya
Mideast Stocks: Most Gulf markets fall on trade war fears
Most stock markets in the Gulf ended lower on Wednesday after the latest round of U.S. tariffs and countermeasures from Canada and China fuelled global trade war concerns. U.S. President Donald Trump's 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with new duties on Chinese goods, sparking fears of a trade wars. In response, China and Canada imposed their own tariffs on various U.S. products, while Mexico announced that it would reveal its countermeasures on Sunday. Saudi Arabia's benchmark index eased 0.3%, hit by a 1.3% fall in oil giant Saudi Aramco, extending losses from the previous session when the firm reported a drop in annual profit and signalled it will slash its dividend payouts by nearly a third this year to $85.4 billion. The significantly reduced dividends could also result in fewer funds for the kingdom - which directly owns 81.5% of Aramco - and is in a race to complete several large-scale projects and potentially faces a wider budget deficit. Elsewhere, Dallah Healthcare Company slid , despite reporting a rise in annual profit. Dubai's main share index finished 0.8% lower, weighed down by a 3.7% slide in top lender Emirates NBD , as the bank traded ex-dividend. Among other losers, blue-chip developer Emaar Properties lost 1.1% and toll operator Salik was down 0.6%. In Abu Dhabi, the index closed 0.4% lower, with petrochemical firm Borouge tumbling 6%, a day after he announcement of its merger with Borealis to form the world's fourth largest polyolefins firm by production capacity. The Qatari index, however, gained 0.2%, helped by a 2.1% rise in Qatar Gas Transport. Outside the Gulf, Egypt's blue-chip index added 0.4%, with Commercial International Bank rising 1.6%. SAUDI ARABIA down 0.3% to 11,899 Abu Dhabi fell 0.4% to 9,557 Dubai lost 0.8% to 5,313 QATAR added 0.2% to 10,492 EGYPT up 0.4% to 30,876 BAHRAIN was down 0.2% to 1,976 OMAN was flat at 4,411 KUWAIT dropped 0.5% to 8,719 (Reporting by Ateeq Shariff in Bengaluru; Editing by Tasim Zahid)
Zawya
05-03-2025
- Business
- Zawya
Mideast Stocks: Major Gulf markets fall on trade war worries
Major stock markets in the Gulf fell in early trade on Wednesday after the latest round of U.S. tariffs and countermeasures from Canada and China stoked fears of a major global trade war. U.S. President Donald Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with fresh duties on Chinese goods, sparking trade wars that could slam economic growth and raise prices for Americans still smarting from years of high inflation. China and Canada retaliated with their own set of tariffs on a range of U.S. goods, while Mexico said it would announce its response on Sunday. Saudi Arabia's benchmark stock index dropped 0.4%, dragged by a 6.9% fall in Dallah Healthcare Company despite reporting a rise in annual profit. Among other losers, Seera Holding tumbled 5% after the investment group reported a loss for 2024, compared to a profit in the previous year. Dubai's main share index fell 0.4%, pressured by a 3.5% slide in top lender Emirates NBD in ex-dividend trade. Elsewhere, blue-chip developer Emaar Properties was down 0.4% and Emirates Central Cooling Systems Corp retreated 1.2%. In Abu Dhabi, the benchmark index eased 0.1%. Oil prices - a catalyst for the Gulf's financial markets - steadied after hitting multi-month lows in the previous session, but remained under pressure as the market eyed plans by major producers to raise output in April as well as U.S. tariffs on Canada, Mexico and China. The Qatari index lost 0.2%, with Qatar Islamic Bank declining 1.8%.
