The net profit of Al Habib Group for Medical Services in Saudi Arabia increased by 30% to reach 1.376 billion riyals, with the announcement of the group’s financial statements for the year ending on December 31, 2021, compared to 1.0055 billion for the previous year.
The reason for the increase in net profit during the year compared to the previous year is due to the increase in net income attributable to the shareholders of the company. Revenues grew by 23.69% during 2021 to reach 7,250.47 million riyals, an increase of 1,388.87 million riyals compared to 5,861.60 million riyals in the previous year, as a result of The growth in all the operating sectors of the group in addition to the growth in the hospital sector as a result of the increase in the number of patients and the increase in occupancy rates for the inpatient departments, in addition to the continued growth in the revenues of Al-Khobar Hospital, which was positively reflected in the increase in the sales of the pharmacies sector compared to the previous year, according to a company statement today.
The group indicated an increase in profit before depreciation, amortization, interest, zakat and taxes (EBITDA) during 2021 by 354.26 million riyals compared to the same period of the previous year, reaching 1,846.54 million riyals, with a growth rate of 23.74%, while the group maintained a profit margin before depreciation and amortization And interest, zakat and taxes (EBITDA) at a margin of 25.47%.
It confirmed an increase in net income during 2021 by 30.43%, to reach 1,376.62 million Saudi riyals, and an increase in the net income margin rate by 0.98% to reach 18.99% compared to a profit margin of 18.01% in the previous year.