Specialized Medical Company (4019) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached SR 368.9 million, up 1.6% year-over-year from SR 363.1 million.

• Net profit for the period was SR 29.6 million, a 39.7% decrease from SR 49.2 million in Q1 2024.

• Gross profit margin declined to 25.6% from 27.5% year-over-year.

• The Group received regulatory approval for an IPO, targeting Tadawul Main Market listing in June 2025.

Financial highlights

• Operating profit dropped to SR 40.7 million from SR 61.4 million year-over-year.

• General and administrative expenses rose to SR 47.7 million, up from SR 36.6 million in Q1 2024.

• Cash and cash equivalents stood at SR 65.6 million, down from SR 92.5 million at year-end 2024.

• Total assets increased to SR 2.14 billion from SR 2.04 billion at December 2024.

• Net cash from operating activities was SR 118.4 million, more than double the prior year.

Outlook and guidance

• IPO planned for June 2025, with regulatory approval already obtained.