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Al Hammadi Company for Development and Investment announces the interim financial results for the period ending on 31-12-2017 (Twelve Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 30.76 10.48 193.51 23.58 30.45
Gross profit (loss) 69.82 73.35 -4.81 58.35 19.66
Operational profit (loss) 39.75 19.61 102.7 34.33 15.79
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 107.96 72.96 47.97
Gross profit (loss) 248.34 242.13 2.56
Operational profit (loss) 142.58 103 38.43
Earning or loss per share, Riyals 0.9 0.61 -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The increase in the operating income and net income is attributable to that in Q4 last year the company has provided an extra SAR 18.5 as doubtful debt provision which was not provided in the current year as no need. The decrease in the gross profit is attributable to the increase in the direct costs by 9% as a result of the increase in the number of medical and non-medical staff in preparation of Al Hammadi Hospital Al Nuzha branch.
Reasons of increase (decrease) for period compared with same period last year The increase in the net income, operating income, and net income in the current period compared to the same period last year is attributable to the increase in revenue by 17% as a result of the increase in the number of outpatient and inpatient in addition to optimize the contractual terms with some clients. In addition to that in Q4 last year the company has provided an extra SAR 18.5 as doubtful debt provision which was not provided in the current year as no need. It is worth mentioning that Al Hammadi Hospital Olaya branch was closed during the period from 7 Feb 2016 to 7 Aug 2016 because of the fire incident.
Reasons of increase (decrease) for quarter compared with previous quarter The increase in the net income, operating income, and net income in the current quarter compared to the previous quarter of the same year is attributable to the increase in revenue by 16% as a result of the increase in the number of outpatients and inpatients due to the vacations and holidays season end and the return of citizens and residences.
Reclassifications in quarterly financial results Certain figures of the previous year have been restated and reclassified to conform to the presentation for the current year presentation as per IFRS. For more information, refer to note (4) First-time adoption of IFRS of Condensed Interim Consolidated Financial Statements for the period ended 31-12-2017.
Other notes 1- The current quarter revenue is SR 188.7 million compared to SR 182.6 million in the same quarter last year with increase of 3% and SR 163 million in the previous quarter this year with decrease of 16%. 2- The current period revenue is SR 708.6 million compared to SR 606.2 million in the same period last year with increase of 17%. 3- The other comprehensive income for the current quarter is SR 31.0 million compared to SR 10.2 million for the same quarter last year with increase of 200% and compared to SR 23.2 million for the previous quarter this year with increase of 34%. 4- The other comprehensive income of the current period is SR 107.4 million compared to SR 71.8 million in the same period last year with increase of 50%. 5- Total shareholders equity as at the end of the current period is SR 1,387 million compared to SR 1,370 million as at the end of the same period last year with increase of 1%. Please note that there is no minority interest (non-controlling interest).

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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