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Specialized Medical Company (4019) investor relations material
Specialized Medical Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary10 Nov, 2025
Executive summary
Achieved strong operational and financial progress in Q3 2025, with a strategic shift toward high-margin acute and outpatient services, cost optimization, and improved collections.
Outpatient visits rose 12.1%–12% year-on-year to 353,000 in Q3, driving 13.4% growth in outpatient clinic revenue.
Net profit increased 12.4% year-on-year to SAR 66.2 million, with a margin of 17.3%.
Launched a new mobile app and integrated advanced digital technologies; new outpatient clinic center in Al Malqa District with 35 clinics set to open in H1 2026.
Announced a SAR 200 million special one-time cash dividend, reflecting strong cash generation and financial health.
Financial highlights
Q3 2025 gross revenue reached SAR 465.3 million (+9.5% YoY); net revenue was SAR 382.7 million (-2.2% YoY) due to timing of contractual obligations.
EBITDA rose 8.4% year-on-year to SAR 104.6 million, with margin expanding to 27.3% (+2.7pp).
Operating cash flow surged 58.8% to SAR 107.9 million; free cash flow nearly doubled to SAR 85 million.
Net debt to EBITDA improved to 2.0x, down from 2.4x a year ago; debt-to-equity ratio at 62.1%.
Capital expenditure totaled SAR 23 million in Q3 2025, mainly for new clinics and hospital projects.
Outlook and guidance
Full-year 2025 guidance reaffirmed: net revenues SAR 1.6–1.8 billion, EBITDA margin 23–26%, net profit margin 17.5–19%, net debt/EBITDA 2.3–2.5x.
Plan to maintain 578 inpatient beds and ramp up to 326 clinics by year-end; 19 additional clinics and a 35-clinic center in Al Malqa to open by 2026.
Multi-year growth strategy includes tripling capacity by 2029 with three new hospitals in northern Riyadh.
Anticipate further price increases in early 2026 as part of ongoing contract negotiations.
150-bed mental health facility to commence operations by end of H1 2026 under PPP.
How does patient yield evolve post-LTC phase-out?
Al Malqa clinic: impact on SMC Five plans?
Quantify non-recurring items boosting Q4 guidance.
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Next Specialized Medical Company earnings date
Q4 20254 May, 2026
Next Specialized Medical Company earnings date
Q4 20254 May, 2026
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