Saudi Pharmaceutical Industries and Medical Appliances Full Year 2024 Earnings: Misses Expectations

Saudi Pharmaceutical Industries and Medical Appliances (TADAWUL:2070) Full Year 2024 Results

Key Financial Results

• Revenue: ر.س1.68b (up 1.6% from FY 2023).
• Net income: ر.س24.5m (up from ر.س50.7m loss in FY 2023).
• Profit margin: 1.5% (up from net loss in FY 2023).
• EPS: ر.س0.20 (up from ر.س0.42 loss in FY 2023).

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All figures shown in the chart above are for the trailing 12 month (TTM) period

Saudi Pharmaceutical Industries and Medical Appliances Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 72%.

The primary driver behind last 12 months revenue was the Pharmaceutical Manufacturing segment contributing a total revenue of ر.س1.38b (82% of total revenue). Notably, cost of sales worth ر.س865.9m amounted to 51% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to ر.س327.8m (41% of total expenses). Explore how 2070's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Pharmaceuticals industry in Asia.

Performance of the market in Saudi Arabia.

The company's shares are up 1.0% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Saudi Pharmaceutical Industries and Medical Appliances (at least 1 which is significant), and understanding these should be part of your investment process.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.