Mouwasat Medical Services Company (4002) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024, reached SR 2.12 billion, up from SR 1.93 billion year-over-year.

• Net profit for the nine-month period was SR 489.9 million, compared to SR 495.9 million in the prior year.

• The company operates primarily in medical services and pharmaceutical sales, with all activities in Saudi Arabia.

Financial highlights

• Medical services revenue for nine months: SR 1.79 billion (2023: SR 1.66 billion); pharmaceuticals: SR 334.5 million (2023: SR 276.4 million).

• Gross profit for nine months: SR 971.2 million, up from SR 919.7 million year-over-year.

• Basic and diluted EPS for nine months: SR 2.37, unchanged from prior year.

• Total assets as of September 30, 2024: SR 5.37 billion (Dec 31, 2023: SR 4.96 billion).

• Net cash from operating activities for nine months: SR 811.5 million (2023: SR 667.2 million).

Outlook and guidance

• Management expects no material impact from forthcoming IFRS amendments.

• No significant events after September 30, 2024, that would materially affect financial position.