Al Hammadi Holding Q1 2024 Earnings Release

Al Hammadi Holding, a Saudi Arabian medical facilities operator, reported Q1 2024 revenues of SAR 277 million, down 7% year-on-year due to seasonal impacts from Ramadan and spring break. Net profit declined 21% to SAR 64 million as higher personnel costs and expanded MOH service packages offset revenue per patient gains from the company's premiumization strategy targeting Class A+ and VIP patient segments.