Al-Modawat Reports SAR 5.96M Net Profit in the Six Months 2026
ALMODAWAT 9594.SA | 0.00 |
On 2026-08-20 08:02:09 (Saudi Time), Al-Modawat Specialized Medical Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 72,362,121 | 55,219,887 | 31.043 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 5,956,471 | 10,255,167 | -41.917 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 89,360,195 | 88,253,627 | 1.253 | ||
| Profit (Loss) per Share | 0.08 | 0.14 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The increase in revenue during the current period compared to the corresponding period of the previous year was primarily attributable to the continued growth in the Company’s business volume and increased demand for its services, particularly within the medical services sector. Revenue reached approximately SAR 72.36 million, compared to approximately SAR 55.22 million in the corresponding period of the previous year, representing a growth of approximately 31%. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is |
Net profit decreased compared to the corresponding period of the previous year. The Company is currently completing the requirements to upgrade the hospital’s licensed capacity classification to more than 100 beds.
Achieving this classification is expected to enable an approximately 21% increase in the pricing of services provided to beneficiaries of the National Health Insurance Authority, which accounts for approximately 60% of the Company’s revenue.
The Company has completed advanced stages toward obtaining the final license and is undertaking on-site expansions as required. This phase also requires proactive measures to enhance operational readiness and increase the number of medical and operational staff ahead of receiving the final license.
As a result, the Company incurred additional costs during the current period. The financial benefits of this increased operational readiness are expected to become more evident following the issuance of the final license. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | none |
| Additional Information |
Net cash flows from operating activities recorded a significant improvement, reaching approximately SAR 19.94 million, compared to SAR 2.67 million for the corresponding period of the previous year, reflecting the Company’s improved ability to generate cash from its operating activities.
Cash and cash equivalents also increased to SAR 35.49 million as of the end of June 2026, compared to SAR 12.12 million as of the end of 2025. Total assets increased to SAR 186.44 million, compared to SAR 160.81 million.
The Company continued to invest in developing its infrastructure and enhancing its operational readiness, with additions to property and equipment amounting to approximately SAR 9.91 million during the period. These additions included a number of development, fit-out and expansion projects across the Company’s facilities.
These indicators underscore the Company’s continued progress in implementing its plans to increase capacity, enhance operational efficiency, and support sustainable growth over the medium and long term. |
Year-on-Year Performance Drivers
Sales increased 31.043% YoY to SAR 72.36 million (from SAR 55.22 million), driven by continued growth in business volume and increased demand for medical services. Despite the revenue growth, net profit attributable to shareholders declined 41.917% YoY to SAR 5.96 million (from SAR 10.26 million), primarily due to additional costs incurred as the company works to upgrade its hospital's licensed capacity classification to over 100 beds, which required proactive hiring of additional medical and operational staff and on-site expansion works ahead of receiving the final license. This classification upgrade is expected to enable an approximately 21% increase in service pricing for National Health Insurance Authority beneficiaries, who account for approximately 60% of revenue, with the financial benefits anticipated to materialize following issuance of the final license.
Other Items
The external auditor issued an unmodified conclusion for the six-month period ending June 30, 2026. No accumulated losses were reported. Net cash flows from operating activities reached approximately SAR 19.94 million, compared to SAR 2.67 million in the corresponding period of the previous year. Cash and cash equivalents increased to SAR 35.49 million as of end of June 2026, compared to SAR 12.12 million as of end of 2025. Total assets increased to SAR 186.44 million, compared to SAR 160.81 million. Additions to property and equipment amounted to approximately SAR 9.91 million during the period, including development, fit-out, and expansion projects across the company's facilities. Total shareholders' equity (after deducting minority equity) stood at SAR 89,360,195, compared to SAR 88,253,627 in the same period of the previous year, a change of 1.253%. Earnings per share were SAR 0.08, compared to SAR 0.14 in the same period of the previous year. No reclassification of comparison items was made.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97710&anCat=1&cs=9594&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.