The increase in “Fakih Medical” profits to 263.67 million riyals in 2024

The profits of Dr. Sulaiman Abdel -Qader Fakih (Fakih Medical) company increased in 2024 by 13.6% to 263.67 million riyals, compared to 232.02 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, the net profit included a one -time financial income that caused the impact of a high base of 38.2 million riyals.
With the exception of this unforgiving item, the group’s net profit would record a growth of 36.0% compatible with the growth of its standard revenues. Accordingly, the group’s net profit margin reached 9.4% in the fiscal year 2024 compared to the average margin for the fiscal year 2023 of 8.3%, while the non -average margin for the fiscal year 2023 compared to 10% by 9.4% in 2024.
When modifying EBITDA profits for 2023 by excluding repeated financial income (4.7 million riyals) and unacceptable (38.2 million riyals), which was previously included in other revenue items, the EBITDA group recorded 521.9 million riyals in 2024 compared to 483.4 million riyals in 2023.
This indicates 8 % growth in EBITDA and a margin of 18.7 % in 2024 compared to 20.8 % in 2023.
This impact is due to the group’s expansion initiatives and their associated costs, including the initiatives to keep the employees that led to the high salary costs, and the increase in marketing spending to enhance the group’s position, in addition to the opening of the city hospital. However, the group integrated infrastructure enables it to absorb the pressure of margins in part.
The Fakih Medical Board of Directors approved the distribution of cash dividends of 0.30 Saudi riyals per share of the fiscal year 2024, in mortgage with the approval of the General Assembly.
The company said: The total amount distributed is 69 million riyals, while the number of shares due for profits is 230 million shares.
The share share of the distribution is 0.30 riyals, while the distribution rate to the nominal share value is 30%.
The shareholders ’right to obtain profits is required to own the company’s shares at the end of the date of entitlement (the date of the General Assembly, which will be announced later) and shares of shares in the company’s record at the Securities Depository Center (“ Deposit ”) at the end of the second day of trading after the General Assembly.
She noted the announcement of the date of the distribution later after the approval of the General Assembly.