Overview of Aldawaa financial performance in H1 2023

Logo of Aldawaa Medical Services Co.

Aldawaa Medical Services Co. reported a 47% rise year-on-year (YoY) in operating income to SAR 237 million in the first half of 2023, driven primarily by sales growth and controlled selling and distribution expenses.

The company’s sales grew nearly 9% YoY to SAR 2.84 billion in the six-month period, thanks to increased seasonal sales activities, strong campaigns, and effective multi-channel operations, according to the company.

Gross profit increased 6% YoY to SAR 1.06 billion, on sales growth. By contrast, operating expenses (OpEx) declined to SAR 823.6 million in H1 2023, from SAR 839.7 million in the prior-year period.

On a quarterly basis, operating income reached SAR 122 million, registering a rise of 35% YoY, backed by better sales and lower OpEx.

Aldawaa’s sales rose around 10% YoY to SAR 1.43 billion in Q2 2023.

Gross profit increased 4% YoY to SAR 525.6 million. OpEx dropped to SAR 403.6 million in Q2 2023 from SAR 416.2 million in Q2 2022.