Specialized Medical Company (4019) Q4 2024 earnings summary

Executive summary

• Consolidated financial statements for the year ended December 31, 2024, were audited and received an unqualified opinion, confirming fair presentation in accordance with IFRS as endorsed in Saudi Arabia.

• The group operates hospitals, clinics, medical centers, and food services, with a wholly owned subsidiary in food and catering.

• A significant event post-year-end: regulatory approval for an IPO, with plans to list on Tadawul Main Market in June 2025.

Financial highlights

• Revenue increased to SR 1,439.6 million in 2024, up from SR 1,367.9 million in 2023 (5.2% year-over-year growth).

• Net profit for 2024 was SR 185.2 million, up from SR 168.7 million in 2023.

• Gross profit rose to SR 392.2 million from SR 356.4 million year-over-year.

• Basic and diluted EPS increased to 0.74 from 0.68.

• Total assets stood at SR 2,043.9 million, with equity at SR 827.1 million as of December 31, 2024.

Outlook and guidance

• The group plans to complete its IPO and list shares on Tadawul Main Market in June 2025.