Nahdi Medical Co. Announces its Interim Financial Results for the Period Ending on 2025-03-31 (Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,635 | 2,257.5 | 16.722 | 2,363 | 11.51 |
| Gross Profit (Loss) | 950.9 | 860.8 | 10.467 | 882.4 | 7.762 |
| Operational Profit (Loss) | 270 | 231.6 | 16.58 | 192.3 | 40.405 |
| Net profit (Loss) | 255.2 | 232.9 | 9.574 | 157.9 | 61.621 |
| Total Comprehensive Income | 253 | 244.2 | 3.603 | 177 | 42.937 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 2,449.1 | 2,317 | 5.701 |
| Profit (Loss) per Share | 1.96 | 1.79 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue: In the first quarter of 2025, Nahdi Medical Company reported strong top-line growth, with total revenue rising by 16.7% or SAR 377.5 million year-over-year, reaching SAR 2,635.0 million compared to SAR 2,257.5 million in same quarter last year. This performance was driven by robust performance across all business segments. The Retail business achieved a solid 15.2% increase, driven by double-digit growth in both Pharma and Front Shop segments. The favorable shift in Ramadan seasonality also contributed to the strong performance of the quarter. Additionally, the Healthcare and UAE businesses continued their upward momentum, recording growth of 76.4% and 43.9%, respectively (please refer to the attached press release for detailed analysis). |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net Profit: The company’s net profit grew by 9.5% or SAR 22.2 million, reaching SAR 255.2 million compared to SAR 232.9 million for the same quarter last year. This is attributed to the following reasons:
- Gross Profit: The company’s gross profit increased by 10.5% or SAR 90.1 million year-over-year to reach SAR 950.9 million, compared to SAR 860.8 million in the same quarter last year, driven by higher sales across key segments in the retail business. Meanwhile, gross margin landed at 36.1% compared to 38.1% in the same quarter of the previous year. The margin compression was primarily driven by accelerated growth in the Healthcare and online businesses, which operate not only with lower gross margins but also benefit from lower operating expenses.
- Operating Profit: The company’s operating profit grew by 16.6%, in line with top-line growth, supported by an increase in gross profit. This was partially offset by a SAR 50.1 million rise in operating expenses, reflecting the company’s continued investment into the strategic initiatives, including new store openings, Healthcare acceleration, UAE expansion, and digital transformation. Despite the increase in absolute operating expenses, the company improved operating expenses as a percentage of revenue by 2.1%, reaching 26.1%, compared to 28.2% in the same quarter last year. This efficiency was driven by ongoing cost optimization programs, which enabled the company to reinvest into its growth initiatives while maintaining margin discipline. As a result, operating profit reached SAR 270.0 million, compared to SAR 231.6 million in the same period last year.
Furthermore, there was a net increase of SAR 28.0 million in non-operating expenses, mainly due to higher financial charges and lease liability interest incurred to support revenue growth and business expansion.
It is worth mentioning that zakat provision includes a non-recurring provision release of SAR 17.8 million following the closure of zakat assessments for previous years, which resulted in a SAR 11.9 million decrease in zakat provisions.
As a result of the above factors, the net profit increased by SAR 22.2 million or 9.5%. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue: The company’s total revenue grew by 11.5% or SAR 271.9 million to reach SAR 2,635.0 million in the first quarter of 2025 compared to SAR 2,363.0 million in the previous quarter, mainly driven by the shift in the seasonality. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net Profit: The company's net profit rose by 61.6% or 97.3 million, primarily driven by an increase in gross profit from higher sales, reduced operating expenses due to a favorable phasing pattern, and a non-recurring zakat provision release. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | N/A |
| Additional Information | - Total Comprehensive Income increased as a result of normal business activities which impacted the actuarial estimate for the end-of-service indemnity.
- In accordance with the company’s governance, it strictly adheres to Shariah principles in all areas of its business, including banking and investment activities. As a result, all costs incurred, and revenues generated from these activities are Shariah-compliant. |
| Attached Documents |  |
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