National Medical Care Reports SAR 52.46M Net Profit in Three Months 2026
CARE 4005.SA | 0.00 |
On 2026-05-07 15:35:25 (Saudi Time), National Medical Care Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 387,992 | 385,320 | 0.693 | 404,756 | -4.141 |
| Gross Profit (Loss) | 122,652 | 142,978 | -14.216 | 146,968 | -16.545 |
| Operational Profit (Loss) | 62,983 | 97,196 | -35.2 | 81,958 | -23.152 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 52,459 | 85,365 | -38.547 | 70,963 | -26.075 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 52,459 | 85,365 | -38.547 | 62,042 | -15.445 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 1,902,323 | 1,711,406 | 11.155 |
| Profit (Loss) per Share | 1.17 | 1.91 | |
| All figures are in (Thousands) 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 (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased modestly by 0.693% YoY to 387.99 million due to a 9% rise in patient count and 21% growth in insurance revenue, though growth was tempered by Ramadan and Eid holidays impacting case mix and revenue per patient. Net profit declined significantly by 38.547% YoY to 52.46 million, driven by unfavorable case and payor mix shifts during the holiday period, a 9% increase in cost of revenues to 265 million from continued staff investment, and 30% higher operating expenses including a swing from ECL reversal to charge of 5.8 million due to slower payor settlements.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 4.14% to 387.99 million SAR due to patient volumes being temporarily weighed down by Ramadan and Eid holidays falling entirely within Q1 2026. Net profit dropped 26.08% to 52.46 million SAR, driven by seasonal case and payor mix shifts causing margin compression, higher G&A expenses from expanded operations, a swing in ECL provisions from 0.9 million reversal to 5.8 million charge due to slower payor settlements, and increased interest costs rising from 1.3 million to 4.3 million mainly from credit facility drawdowns for Al Narjis Hospital development and new IFRS 16 radiology equipment leases.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. No accumulated losses were reported, indicating the company maintains a positive retained earnings position. Total shareholders' equity increased by 11.155% year-over-year to 1,902,323 thousand SAR, while earnings per share declined from 1.91 SAR to 1.17 SAR compared to the same quarter last year.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95073&anCat=1&cs=4005&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/6526_436_2026-05-07_14-58-04_en.pdfImportant 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.