Dr Sulaiman Al Habib Medical Services (4013) Q4 2024 earnings summary

Executive summary

• Achieved strong revenue growth of 17.8% year-over-year, reaching SAR 11.2 billion for FY 2024.

• Net income rose 13.2% year-over-year to SAR 2.32 billion, with a net income margin of 20.7%.

• Opened six new facilities, expanded partnerships in medical education, and performed 91 kidney transplants under a philanthropic initiative.

• Recognized with multiple awards, including "Top Employer" in the private sector and several investor relations accolades.

Financial highlights

• Gross profit increased 14.5% year-over-year to SAR 3.74 billion, with a gross margin of 33.4%.

• EBITDA grew 18.2% to SAR 2.35 billion, maintaining a margin of 21.0%.

• Total assets rose to SAR 20.56 billion from SAR 15.80 billion, and equity increased to SAR 7.61 billion.

• Cash dividends for FY 2024 totaled SAR 4.77 per share, with a payout ratio of 72.1%.

Outlook and guidance

• Robust expansion plans with multiple hospitals and medical centers under construction, targeting completion in 2025 and beyond.

• Continued focus on technology, operational efficiency, and broadening service offerings to drive future growth.