Saudi Pharmaceutical Industries and Medical Appliances Corp. announces its Annual Financial results for the period ending on 2023-12-31

Saudi Pharmaceutical Industries and Medical Appliances Corp. announces its Annual Financial results for the period ending on 2023-12-31

|Element List||Current Year||Previous Year||%Change|

|Sales/Revenue||1,653.1||1,421.8||16.27|

|Gross Profit (Loss)||708.1||567||24.89|

|Operational Profit (Loss)||89.4||-114.4||-|

|Net profit (Loss)||-2.6||-171.2||-98.48|

|Total Comprehensive Income||-7.3||-204.7||-96.43|

|Total Share Holders Equity (After Deducting the Minority Equity)||1,506.7||1,539.5||-2.13|

|Profit (Loss) per Share||-0.11||-1.38|

|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||-||-|

|Accumulated Losses||-4||-0.3|

|All figures are in (Millions) Saudi Arabia, Riyals|

|Element List||Explanation|

|The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year|| Revenue increased by 16.3%, or the equivalent of SAR 231.3 million, to SAR 1,653.1 million on the back of strong growth in revenue from sale of products as well as services.

|

Revenue from sale of products increased by 15.9% up to SAR 1,472.8 million on the back of an improved client mix, enhanced sales in both private and government sectors, and a surge in product demand, capitalizing on the overall positive momentum in the Saudi pharmaceutical sector.

Concurrently, revenue from services reported a strong annual growth of 19.7% supported by robust performance from medical services.

|The reason of the increase (decrease) in the net profit during the current year compared to the last year is|| Consolidated net loss amounted to SAR 2.6 million in FY2023 compared to a net loss of