Mouwasat Medical Services Company (4002) Q4 2024 earnings summary

Executive summary

• Revenue increased to SR 2.88 billion in 2024, up 6.4% year-over-year, driven by growth in both medical services and pharmaceutical sales.

• Net profit attributable to shareholders was SR 645.8 million, a 1.8% decrease from 2023, with EPS at SR 3.23 versus SR 3.29.

• Gross profit margin declined slightly to 44.8% from 48.5% due to higher cost of operations and increased impairment losses.

• The Board proposed a cash dividend of SR 2 per share (SR 400 million) for 2024, pending shareholder approval.

• The Group maintained strong liquidity, with cash and cash equivalents rising to SR 426.6 million at year-end.

Financial highlights

• Revenue: SR 2.88 billion (2024), up from SR 2.71 billion (2023).

• Gross profit: SR 1.29 billion, down 1.8% year-over-year.

• Operating profit: SR 724.3 million, down 4.3% from 2023.

• Net profit: SR 669.6 million, down 2.7% year-over-year.

• Cash flow from operations: SR 1.26 billion, up from SR 813.8 million in 2023.

Outlook and guidance

• Management expects continued growth in medical services and pharmaceutical sales, supported by ongoing hospital expansions.

• No significant subsequent events or changes in market conditions reported post year-end.