Fakeeh Medical’s profits decreased to 57.11 million riyals in the third quarter
The profits of Dr. Soliman Abdul Qader Fakeeh Hospital Company decreased "Fakih Medical" In the third quarter of 2025, by 37.7% to 57.11 million riyals, compared to 91.72 million riyals in the same quarter of last year.
According to the company’s statement on the website "Saudi Arabia trading" The decline in net profit reflects:
(1) Gradual occupancy losses at the newly commissioned Medina Hospital.
(2) Higher non-recurring provisions for receivables.
The impact of these two factors was outweighed by strong revenue growth and the benefit of lower financing costs. Net profit attributable to shareholders amounted to 71.6 million riyals (a decrease of 23.5% on an annual basis) and earnings per share amounted to 0.31 riyals.
Net profit decreased by 16.2% on a quarterly basis to 57.1 million riyals. The second quarter of 2025 benefited from profits related to the non-recurring Hajj contract, while the new Medina Hospital recorded progressively higher occupancy losses in the third quarter of 2025 as a result of operating the entire quarter (compared to part of the quarter in the second quarter of 2025).
Net profit amounted to 192.6 million riyals during the first nine months, declining slightly from last year (-1.4%); The improved profitability of the established business segment, despite wage pressures and intensifying competition in the markets in which we operate, was offset by an increase in non-recurring provisions for receivables, in addition to a decrease in the operating and management contract margin.
The gradual occupancy losses at the newly commissioned Medina Hospital were limited by the impact of lower financing costs.
Net profit attributable to shareholders increased by 5.7% to reach 226 million riyals as a result of non-controlling shareholders bearing a portion of the gradual occupancy losses. Earnings per share amounted to 0.98 riyals (a decrease of 2.2% year-on-year).
Resignation and appointment of a board member
The Board of Directors of Dr. Sulaiman Abdul Qadir Fakeeh Hospital Company approved ("DSFH") and its subsidiaries "Fakih Medical" On the resignation of Board Member Nour Rahman Abed (non-executive member), which he submitted on November 4, 2025, for personal reasons.
It is noteworthy that his resignation includes his membership in the Audit Committee and the Nominations and Remuneration Committee.
The Board of Directors decided to appoint Dr. Ziyad bin Othman Al-Hogail (independent member) to the Board of Directors to complete the term of the current session, which ends on 12/31/2027 AD.
Resignation of a committee member Review
Dr. Soliman Abdul Qader Fakeeh Hospital Company announced ("DSFH") and its subsidiaries "Fakih Medical" Resignation of Audit Committee member Nour Rahman Abed from membership in the Audit Committee.
Abed submitted his resignation on November 4, 2025 AD, effective on the same date, for personal reasons.
Negotiations to acquire shares from “Safwa”
The Board of Directors of Dr. Soliman Abdul Qader Fakeeh Hospital Company approved ("DSFH") and its subsidiaries "Fakih Medical"Yesterday, negotiations began to acquire the majority of shares in Safwat Diagnostic Medical Company, so that it becomes a subsidiary company owned by Dr. Sulaiman Abdul Qader Fakeeh Hospital Company.
The acquisition comes through the waiver by a sister company, Sulaiman Abdul Qader Faqeeh Real Estate Company Ltd. (a related party), of a percentage (50.01%) of its investment in Safwat Diagnostic Medical Company in favor of Dr. Sulaiman Abdul Qader Fakeeh Hospital Company. The process aims to integrate Safwat Diagnostics Company’s services into the group’s health platform.
This process is subject to regulatory approvals and relevant procedures to complete the assignment between Dr. Soliman Abdul Qader Faqeeh Hospital Company and Soliman Abdul Qader Faqeeh Real Estate Company Limited (a related party). Any material developments will be announced in a timely manner in accordance with the relevant regulations.
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