Latest news with #Nahdi
Trade Arabia
12-05-2025
- Business
- Trade Arabia
Nahdi partners with Emerge for rooftop solar plant
Nahdi Medical Company, a major retail pharmacy chain in Saudi Arabia, has announced a new partnership with Emerge, a joint venture between Masdar and the EDF Group, to develop a 3 megawatt-peak (MWp) rooftop solar installation to power Imdad, Nahdi's distribution centre. With a tenure of 15 years, Emerge will provide a full turnkey solution for the project, including the finance, design, procurement, construction, operations and maintenance for the entire length of the agreement. The solar installation at Imdad will help to avoid more than 3,000 tonnes of CO₂ annually, decarbonising Nahdi's central logistical operations and yielding substantial environmental advantages for all its business aspects. The emissions reduction achieved by the project will be equivalent to meeting the electricity consumption of 625 households for one year, the company said. Eng Yasir Jamal, Chief Supply Chain Officer, stated: 'As a proud national Saudi company and the Kingdom's leading pharmacy retailer, Nahdi is fully aligned with the ambitions of Vision 2030. Developing strategic partnerships is a core element of our strategy, and our collaboration with Emerge reflects our deep commitment to sustainability and clean energy—key pillars in building a healthier and more vibrant future for our guests and for the kingdom. By embracing renewable energy, we affirm our environmental responsibility and continue to enhance the long-term value we bring to the community. This initiative further reinforces our role in the healthcare sector and our mission to add beats to the lives of our guests every day.' Michel Abi Saab, Emerge General Manager, said: 'The abundant, year-round sunshine in Saudi Arabia makes solar power the obvious choice for any business looking to transform its energy supply to a cleaner, greener power source. Our turnkey solutions, with no upfront costs, make it as easy as can be for those ready to make the jump. We're excited to support Nahdi on its sustainability journey and contribute to the broader goals of Vision 2030.'
Zawya
12-05-2025
- Business
- Zawya
Nahdi and Emerge partner to power IMDAD with rooftop solar
Nahdi, Saudi Arabia's largest pharmacy business, partners with Emerge to develop rooftop solar panels at IMDAD. The 3MWp distributed solar project will provide the facility with clean energy, avoiding more than 3,000 tonnes of CO₂ annually. The announcement grows Emerge's foothold in the Saudi market and highlights Nahdi's commitment to sustainability under Vision 2030 Jeddah, Saudi Arabia – In line with the ambitious sustainability targets of Saudi Vision 2030 and contributing actively to the goals of the Saudi Green Initiative, Nahdi Medical Company, the largest retail pharmacy chain in Saudi Arabia, has announced a new partnership with Emerge, a joint venture between Masdar and the EDF Group. The partnership aims to develop a 3 megawatt-peak (MWp) rooftop solar installation to power IMDAD, Nahdi's Distribution Center. With a tenure of 15 years, Emerge will provide a full turnkey solution for the project, including the finance, design, procurement, construction, operations and maintenance for the entire length of the agreement. The solar installation at IMDAD will help to avoid more than 3,000 tonnes of CO₂ annually, decarbonizing Nahdi's central logistical operations and yielding substantial environmental advantages for all its business aspects. The emissions reduction achieved by the project will be equivalent to meeting the electricity consumption of 625 households for one year. Eng. Yasir Jamal, Chief Supply Chain Officer, stated: 'As a proud national Saudi company and the Kingdom's leading pharmacy retailer, Nahdi is fully aligned with the ambitions of Vision 2030. Developing strategic partnerships is a core element of our strategy, and our collaboration with Emerge reflects our deep commitment to sustainability and clean energy—key pillars in building a healthier and more vibrant future for our Guests and for the Kingdom. By embracing renewable energy, we affirm our environmental responsibility and continue to enhance the long-term value we bring to the community. This initiative further reinforces our role in the healthcare sector and our mission to add beats to the lives of our Guests every day.' Michel Abi Saab, Emerge General Manager, said: 'The abundant, year-round sunshine in Saudi Arabia makes solar power the obvious choice for any business looking to transform its energy supply to a cleaner, greener power source. Our turnkey solutions, with no upfront costs, make it as easy as can be for those ready to make the jump. We're excited to support Nahdi on its sustainability journey and contribute to the broader goals of Vision 2030.' Emerge was formed in 2021 to develop distributed solar, battery storage, off-grid solar and hybrid solutions for commercial and industrial clients. The company today supplies clean electricity to more than 40 commercial, industrial, educational and hospitality sites across the region. Building on this expertise, Nahdi Medical Company has partnered with Emerge to advance its sustainability ambitions across its extensive operations. This collaboration between a leading energy solutions provider and the largest retail pharmacy and healthcare network reflects a shared commitment to driving a greener, more sustainable future for the region. About Nahdi Nahdi Medical Company is a purpose-driven healthcare and wellbeing Company with a heart. It is the largest retail pharmacy chain in Saudi Arabia with an integrated healthcare services platform. The Company was established in 1986 as a sole proprietor of two stores in Jeddah and today, operates 1,150+ stores in 140 cities in the Kingdom and the UAE, including 10 polyclinics. Serving around 100 million Guests yearly, Nahdi's guest-centric philosophy ensures all Guests have access to high quality and competitively priced products and services across healthcare, medicine, wellness, mom & baby products, beauty and other FMCG goods. Leveraging the latest technologies and supply chain innovations, Nahdi aims to bring the full healthcare and retail pharmacy ecosystem to the fingertips and doorsteps of all its Guests. Nahdi empowers and equips its employees with in-depth training opportunities across the business, to ensure every employee unlocks their potential. Beyond the business, Nahdi always looks to make a positive impact on the community through thoughtful and meaningful corporate social responsibility initiatives from awareness campaigns to personalized health solutions. Over the past 38 years, Nahdi has received numerous awards and has been celebrated for its positive work culture and commitment to local communities. Nahdi exists to add beats to its Guests' lives every day. Contacts: For media inquiries, please contact: media@ For more information please visit: About Emerge Emerge is a joint venture between Masdar and EDF Group established to develop solar generation, energy storage and hybrid solutions in the Middle East. We support our business partners in achieving their sustainability goals. A home-grown company, Emerge was founded in 2021 and has since established a robust performance record. Emerge provides clients with comprehensive renewable energy solutions via solar power agreements. Clients do not have to make any initial financial commitments. This empowers our customers to concentrate on their core operations while reducing operational and energy expenditures. Contacts: Website: LinkedIn: About Masdar: Masdar (Abu Dhabi Future Energy Company) is one of the world's fastest-growing renewable energy companies. As a global clean energy leader, Masdar is advancing the development and deployment of solar, wind, geothermal, battery storage and green hydrogen technologies to accelerate the energy transformation and help the world meet its net-zero ambitions. Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of 51 gigawatts (GW), providing affordable clean energy access to those who need it most and helping to power a more sustainable future. Masdar is jointly owned by TAQA, ADNOC, and Mubadala, and is targeting a renewable energy portfolio capacity of 100GW by 2030 while aiming to be a leading producer of green hydrogen by the same year. Contacts: For media inquiries, please contact: press@ For more information please visit: and connect: and About EDF Group The EDF Group is a key player in the energy transition, as an integrated energy operator engaged in all aspects of the energy business: power generation, distribution, trading, energy sales and energy services. The Group is a world leader in low-carbon energy, with a low carbon output of 5204TWh, a diverse generation mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support the energy transition. EDF's raison d'être is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The Group supplies energy and services to approximately 40.9 million customers and generated consolidated sales of €118.7 billion in 2024. Contacts: For more information: Follow us on LinkedIn
Zawya
12-05-2025
- Business
- Zawya
Saudi: Nahdi partners with Emerge for rooftop solar plant
Saudi Arabia - Nahdi Medical Company, a major retail pharmacy chain in Saudi Arabia, has announced a new partnership with Emerge, a joint venture between Masdar and the EDF Group, to develop a 3 megawatt-peak (MWp) rooftop solar installation to power Imdad, Nahdi's distribution centre. With a tenure of 15 years, Emerge will provide a full turnkey solution for the project, including the finance, design, procurement, construction, operations and maintenance for the entire length of the agreement. The solar installation at Imdad will help to avoid more than 3,000 tonnes of CO₂ annually, decarbonising Nahdi's central logistical operations and yielding substantial environmental advantages for all its business aspects. The emissions reduction achieved by the project will be equivalent to meeting the electricity consumption of 625 households for one year, the company said. Eng Yasir Jamal, Chief Supply Chain Officer, stated: 'As a proud national Saudi company and the Kingdom's leading pharmacy retailer, Nahdi is fully aligned with the ambitions of Vision 2030. Developing strategic partnerships is a core element of our strategy, and our collaboration with Emerge reflects our deep commitment to sustainability and clean energy—key pillars in building a healthier and more vibrant future for our guests and for the kingdom. By embracing renewable energy, we affirm our environmental responsibility and continue to enhance the long-term value we bring to the community. This initiative further reinforces our role in the healthcare sector and our mission to add beats to the lives of our guests every day.' Michel Abi Saab, Emerge General Manager, said: 'The abundant, year-round sunshine in Saudi Arabia makes solar power the obvious choice for any business looking to transform its energy supply to a cleaner, greener power source. Our turnkey solutions, with no upfront costs, make it as easy as can be for those ready to make the jump. We're excited to support Nahdi on its sustainability journey and contribute to the broader goals of Vision 2030.' Emerge was formed in 2021 to develop distributed solar, battery storage, off-grid solar and hybrid solutions for commercial and industrial clients. The company today supplies clean electricity to more than 40 commercial, industrial, educational and hospitality sites across the region. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Argaam
10-03-2025
- Business
- Argaam
Nahdi pharmacies expand to 1,156 in Saudi Arabia: CEO
Nahdi Medical Co. continued expanding its network in 2024, bringing the number of its pharmacies in Saudi Arabia to 1,156 and 25 in the UAE, CEO Yasser Joharji said. In a company statement commenting on financial results, Joharji said Nahdi's private-label portfolio has flourished, generating exceptional sales of SAR 1.2 billion. He highlighted the company's focus on digital transformation, noting that the launch of its new website and mobile app has significantly enhanced the digital experience, driving a 40% increase in revenue from online channels. Nahdi remains committed to investing in cutting-edge technologies, strengthening primary healthcare services, and advancing preventive care and chronic disease management, in line with Saudi Vision 2030, he added. The company aims to improve healthcare quality and build a healthier future. Joharji said Nahdi has expanded its presence to more than 140 cities, reaching 97% of Saudi Arabia's population, while also strengthening its footprint in the UAE. The company's loyalty program, 'Nuhdeek,' attracted over 800,000 new members in 2024, contributing more than 70% of total revenue. Looking ahead, Nahdi will focus on enhancing customer experience in 2025, with a clear vision to expand its operations, strengthen its integrated health platform, and pursue ambitious goals for 2030, he said. According to Argaam data, Nahdi Medical's net profit fell 8% to SAR 820.7 million in 2024 from SAR 892.6 million in 2023. Fourth-quarter earnings stood at SAR 157.9 million.
Mid East Info
10-03-2025
- Business
- Mid East Info
NAHDI CLOSES 2024 WITH 8.4% YOY REVENUE GROWTH AND MEETING THE PROFITABILITY GUIDANCE - Middle East Business News and Information
Jeddah, Saudi Arabia – March 2025 : Nahdi Medical Company ('Nahdi' or 'the Company'), Saudi Arabia's leading purpose-driven healthcare and wellbeing Company, today reported its financial results for the fourth quarter of 2024 ('Q4 2024') and fiscal year 2024 ('FY 2024'). Q4 2024 HIGHLIGHTS: For the fifth consecutive quarter, revenue grew by 6.7% year-on-year, driven by a 4.8% increase in the Retail business. Strategic initiatives continue to deliver strong performance with Healthcare & UAE revenue growth of 84.5% & 85.1%, respectively. Net profit declined by SAR 12.7 million, despite the increase in the gross profit which was offset by higher investment to support future strategic initiatives. FY 2024 HIGHLIGHTS: Ahead of Nahdi's initial plans, revenue surged by 8.4% reaching SAR 9.45 billion driven by the strong performance of the Pharmacy retail business. The emerging businesses continued to experience remarkable growth, doubling revenues for the third consecutive year, with increases of 98.3% in Healthcare & 132.6% in UAE. Nahdi achieved a market-leading gross margin of 37.4% and recorded a 0.3% increase in gross profit. This was achieved despite the strategic adjustment in pricing to maintain competitive value for our guests while aligning with global offerings. These actions supported sales performance and fueled strong top-line growth. Efficient OPEX management reduced operating expenses as a percentage of revenue to 28.5% in 2024, while the operating expense increased by SAR 104 million, driven by continued strategic investments. As a result, operating profit recorded SAR 873 million. Net profit reached SAR 821 million, supported by the income from Islamic Murabaha time deposits and a one-time Zakat provision release. EBITDA for 2024 slightly grew by 0.9%, reaching SAR 1,595 million compared to SAR 1,581 million in the previous year. Nahdi remained a highly profitable business, achieving a best-in-class EBITDA margin in the sector for another year at 16.9%. Strategic key highlights (as of 31 December 2024) Nahdi continued winning with its Guests, as shown through the highest Brand equity score in the sector of 6.9, Net Promoter Score (NPS) of 90, which is reflected in the growth of Nahdi's market share. Prioritized Guests' access to health and well-being by ensuring they are within 5 minutes reach of our services, with 1,156 Nahdi Pharmacies across Saudi Arabia serving 135+ cities & villages. Strengthened regional presence with reaching 25 pharmacies in the UAE. Sales contribution from e-commerce platforms increased to 22% from 16.6%, reflecting Nahdi's commitment to being with its Guests wherever they are. Nahdi continued to grow its global offering with all global trends through a wide selection of products beyond the pharmacy premises. Nahdi managed to add more than 21,000 SKUs into the company's product portfolio that gives a wider variety of choice to its Guests. Private Label and Differentiated Brands contribution reached 13%, with the introduction of Private Label products in Medicine, supporting local content and the 'Made in Saudi' program. The Company's Omnihealth footprint added 4 new NahdiCare polyclinics extending its total network to 10 polyclinics across 7 cities, including Jeddah, Makkah, Taif, Madina, Yanbu, Najran, and Khamis Mushait. This was delivered two years ahead of its 2026 target. Nahdi's omnihealth system served 1.4 million of Guests within 2024 with an NPS 81, elevating the experience and clinical outcome for Saudi patients. Nahdi closed the year with more than 60,000 ez-pill delivered to chronic patients which helped increase their medical adherence by 100 bps. Awarded as 'Best Company in the Healthcare Sector for Social Responsibility', from the Ministry of Human Resources and Social Development, which reflects our commitment to healthcare leadership within the Kingdom. Ranked among the top three 'Great Place to Work' in the Pharma & Healthcare and Large Organizations categories in Saudi Arabia and the Middle East, and among the top eight across Asia in 2024. Eng. Yasser Joharji, CEO of Nahdi Medical Company said : 'In today's rapidly evolving healthcare landscape, Nahdi remains dedicated to keeping Guests firmly in the center of all our activities. We recognize that innovation is crucial to delivering the personalized, convenient, and accessible care that our Guests deserve. This guest-centric approach is at the heart of our success with all stakeholders. Inspired by the ambitious goals of Vision 2030, we are embracing technological advancements, strengthening primary care, and focusing on preventive care and chronic management initiatives to create a healthier future. Our Guests and communities are at the core of this transformation, and we are committed to empowering them on their journey to well-being. In 2024, Nahdi has made significant progress towards its vision of becoming the most beloved and trusted partner in health and wellbeing for all its Guests, and serving their needs, through a purpose-driven mindset embedded throughout our organization. This commitment is reflected in exceeding expectations, and achieving substantial growth across all strategic pillars, effectively solidifying its foundation for long-term success. This year, Nahdi's brand equity soared to an impressive 6.9 on the Nielsen Store Equity Index, significantly outpacing both regional and sector averages. The company facilitated around 90 million Guest transactions and expanded its presence to more than 140 cities, proudly reaching 97% of the Saudi population while rapidly gaining loyalty among Guests in the UAE too. To further enhance accessibility for our Guests, Nahdi has successfully broadened its pharmacy network, increasing its footprint in Saudi Arabia to 1,156 pharmacies and 25 pharmacies in the UAE, ensuring that quality health and wellness products are always within reach. Retail revenues experienced a remarkable increase of 6.5%, driven by an expanding Guest base and deepened loyalty. The Nuhdeek loyalty program welcomed 800,000+ new members in 2024, contributing to more than 70% of the company's total revenue. This growth underscores Nahdi's ability to cultivate lasting relationships with its Guests. Focusing on seamless and personalized experiences, Nahdi has embraced innovation by revamping its online platform. The launch of a new website and mobile application led to a significant surge in online revenue by 40%. Additionally, NahdiCare polyclinics served more than 1.4 million Guests, showcasing a notable rise in visits and reinforcing the company's commitment to integrated health services. At the core of Nahdi's success is a relentless focus on engagement, efficiency, and innovation, coupled with the company's unwavering commitment to social responsibility, key element of its healthcare leadership within the Kingdom, has earned us the prestigious 'Best Company in the Healthcare Sector for Social Responsibility' award. This achievement underscores Nahdi's dedication to enhancing community well-being across Saudi Arabia and serves as a powerful motivator to further expand our impactful CSR initiatives, ensuring broader access to quality healthcare. Furthermore, Nahdi's recognition as a 'Great Place to Work' reflects Nahdi's commitment to fostering a positive, engaging, and productive workplace. To support this, the company continually implements initiatives that enhance operational efficiency while investing in cutting-edge technology. This dual commitment to both its people and its operations creates a thriving environment for both employees and Guests alike. Nahdi's dedication to technological advancement, including the integration of AI and cloud infrastructure, has revolutionized the Guest experience. Strategic partnerships with local and international brands, along with collaborations with insurance companies, have further solidified Nahdi's market presence. The company's Private Label portfolio is flourishing, achieving an impressive turnover of SAR 1.2 billion, demonstrating Nahdi's ability to provide high-quality offerings with competitive values reinforcing its position as a trusted healthcare partner in the Kingdom. As Nahdi moves into 2025, it maintains an unwavering focus on Guest satisfaction, steadfast in its mission to expand geographically, and enhance the Omnihealth platform. With its sights set on ambitious 2030 goals, Nahdi is poised to lead the health and wellness industry, enriching the lives of its Guests and continuing to add beats to their lives. Through strategic growth, a commitment to innovation, and a focus on adapting to rapidly evolving market dynamics, Nahdi is not just responding to market demands; it is actively shaping the future of healthcare and wellbeing in the region, creating value for our Guests, shareholders, and all key stakeholders.' Commenting on the financial results, Mohammed Alkhubani, Chief Financial Officer of Nahdi, said : 'Nahdi delivered strong financial results in 2024, with a focus on executing its ambitious growth strategy while maintaining a debt-free position. The company reported revenue of SAR 9,446 million, marking an 8.4% increase year-on-year. This performance was driven by a significant surge of 6.5% in retail revenue, supported by the growth of Nahdi's pharmacy business, increased prescription flow, expanded insurance partnerships, and a broader product assortment. Digital growth was also a key contributor, with online revenue contribution of 22%, driven by an expanded SKU range and omnichannel initiatives. Nahdi's continued expansion saw the opening of 10 new pharmacies in the UAE, contributing to a 132.6% increase in revenue. The Healthcare sector, which operates across 7 cities with a network of 10 operational clinics, also performed exceptionally well, with revenue rising by 98.3%. Additionally, 4 mature polyclinics are now profit generating with a combined margin of 15%+. The company's investments in retail expansion, digital platforms, and regional growth helped solidify its position as a leading healthcare provider in Saudi Arabia. Nahdi achieved a market-leading gross margin of 37.4% and recorded a slight increase by 0.3% in the gross profit, while refining its pricing strategy to offer competitive value to Guests, aligning with global offerings. This has supported sales performance and drove solid top-line growth. Operational efficiency initiatives, including cost-saving programs such as Refuel and Road to Efficiency Excellence (R2E), resulted in a 1.2% improvement in operating expenses as a percentage of revenue. OPEX reached 28.5% of revenue in 2024, with absolute OPEX increasing by 104 million to support strategic investments. Accordingly, operating profit recorded SAR 873 million. Net profit reached SAR 821 million, with a solid 8.7% margin, supported by the income generated from Islamic Murabaha time deposits and a one-time Zakat provision release of SAR 32.7 million. EBITDA slightly increased by 0.9% reaching SAR 1,595 million, with a best-in-class margin of 16.9% in the sector. In summary, Nahdi's performance in 2024 showcases its resilience, strategic foresight, and commitment to long-term shareholder value, driving growth through market expansion, operational efficiency, and digital transformation. In the year ahead, Nahdi expects steady growth despite a competitive market, driven by our growth strategy and strong financial management. Our focus will be on both topline and bottom-line growth, with the ongoing investments in key strategic initiatives. In 2025, we plan to strengthen our retail presence, solidify our position as a national healthcare leader, and enhance our capabilities to better serve our Guests. Continuous investment in digital platforms and the UAE market will be central to our strategy for sustainable growth, innovation, and value creation for our shareholders.' Financial Performance: Nahdi maintained a strong financial position in 2024, with a solid balance sheet highlighting its financial strength and future growth potential. The company continued its zero-debt strategy, generating strong cash flows. Capital expenditures for the year totaled SAR 383 million, representing 4.1% of sales. Cash and cash equivalents reached SAR 957 million by year end. Total assets grew by 14.9% to SAR 6,173 million, up from SAR 5,371 million at the end of 2023. Total equity reached SAR 2,586 million, while total liabilities stood at SAR 3,587 million. Nahdi's performance was further underscored by best-in-class key performance indicators, with Return on Assets at 13.3% and Return on Equity at 31.7%. In recognition of this strong performance, the Board of Directors approved a cash dividend distribution of SAR 2.5 per share for H1 2024, with a second-half dividend of SAR 390 million (SAR 3.0 per share) planned for Q1 2025. This brings the total dividend payout to SAR 715 million, representing 87% of 2024's net profit.
