{"id":617911,"date":"2024-03-31T00:00:00","date_gmt":"2024-03-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/idh-saw-its-revenues-rise-14-in-2023\/"},"modified":"2024-03-31T00:00:00","modified_gmt":"2024-03-31T00:00:00","slug":"idh-saw-its-revenues-rise-14-in-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/idh-saw-its-revenues-rise-14-in-2023\/","title":{"rendered":"IDH saw its revenues rise 14% in 2023"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IDH\u2019s revenues rise in 2023: <\/strong>Regional diagnostic services provider Integrated Diagnostics Holdings (IDH) saw its revenue rise 14% y-o-y in 2023 to EGP 4.1 bn, backed by higher test volumes, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2593.pdf\" style=\"\" rel=\"noopener\">earnings<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2593.pdf\" style=\"\" rel=\"noopener\">release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2593.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. Net income, however, dropped 11% to EGP 468 mn as the company incurred larger expenses \u2014 such as higher costs of raw materials and equipment and salary increases \u2014 on the back of high inflation levels and a weaker EGP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis:<\/strong> IDH\u2019s revenue grew 33% y-o-y in 4Q 2023 to EGP 1.1 bn, while its net income fell 34% y-o-y to record EGP 81 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt drove growth: <\/strong>Egypt remained IDH's largest market, contributing almost 83% of total revenues. Conventional revenues in Egypt climbed 40% y-o-y on the back of an 18% y-o-y increase in test volumes. Jordan came in second accounting for 14.7% of the company\u2019s revenues, followed by Nigeria, and Sudan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IDH entered Saudi Arabia:<\/strong> The company has stepped into the Saudi market this year with two new branches in Riyadh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cAs a business operating in this part of the world, we are no strangers to macroeconomic volatility. 2023 was no different, as our markets of operation were confronted with devaluation, record-high inflation, tightening monetary policies, and fluctuating energy prices. Despite all this, our two largest markets, Egypt and Jordan, remained resilient supported by attractive fundamentals which are set to drive their long-term growth over the coming decade,\u201d said CEO Hend El Sherbini.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IDH\u2019s revenue grew 33% y-o-y in 4Q 2023 to EGP 1.1 bn<\/p>\n","protected":false},"author":1,"featured_media":617912,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[409,72,7115,1406],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam","tag-healthcare","tag-integrated-diagnostics-holding","wpautop","entry"],"acf":{"mongo_id":"3f53df34-5757-4cb3-a4ee-a03d3af3472f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2621.jpg","photo_position":"above","homepage_title":"","full_issue_title":"IDH saw its revenues rise 14% in 2023","related_issue":[617896],"teaser":"IDH\u2019s revenue grew 33% y-o-y in 4Q 2023 to EGP 1.1 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.0a7b139f-0363-4fcb-bbb1-2f2cbe9297a4.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Revenues for the quarter came in at EGP 1.19 bn, rising 40% y-o-y.Meanwhile, our friends at the upmarket real estate developer delivered record first-quarter gross\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605565,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/idh-reports-1h-2023-financials-as-it-continues-post-covid-transition\/","url_meta":{"origin":617911,"position":1},"title":"IDH reports 1H 2023 financials as it continues post-covid transition","author":"enterpriseam admin","date":"3 September 2023","format":false,"excerpt":"Revenues from non-covid-related tests climbed 40% during the period, partially offsetting the fall in covid income","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/65.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":610325,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/integrated-diagnostics-holdings-increases-revenues-40-in-3q-earnings\/","url_meta":{"origin":617911,"position":2},"title":"Integrated Diagnostics Holdings increases revenues 40% in 3Q earnings","author":"enterpriseam admin","date":"19 November 2023","format":false,"excerpt":"IDH booked over 10 million tests in a single quarter for the first time","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/966.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557052,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/05\/idh-net-income-more-than-quadruples-in-2q2021\/","url_meta":{"origin":617911,"position":3},"title":"IDH net income more than quadruples in 2Q2021","author":"enterpriseam admin","date":"5 September 2021","format":false,"excerpt":"Integrated Diagnostics Holdings\u2019 (IDH) 2Q2021 net income more than quadrupled y-o-y to EGP 326.6 mn ion 2Q2021, from EGP 72 mn in the same time last year, according to the company\u2019s earnings release (pdf). This significant growth came on the back of a surge in revenues, which more than doubled\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/59.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547132,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/earnings-watch-idh\/","url_meta":{"origin":617911,"position":4},"title":"Earnings watch: IDH","author":"enterpriseam admin","date":"9 June 2022","format":false,"excerpt":"Integrated Diagnostics Holding (IDH) saw its bottom line fall 8% y-o-y in 1Q 2022 due to rising sales costs, according to its latest earnings release (pdf). The medical diagnostics company reported net income of EGP 314 mn during the quarter, down from EGP 342 mn in 1Q2021.Meanwhile, revenues rose 5%\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587914,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/04\/idh-sees-43-growth-in-conventional-testing-in-1q-2023\/","url_meta":{"origin":617911,"position":5},"title":"IDH sees 43% growth in conventional testing in 1Q 2023","author":"enterpriseam admin","date":"4 June 2023","format":false,"excerpt":"More tests and higher prices drive conventional revenue growth","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/65.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=617911"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617911\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/617896"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/617912"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=617911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=617911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=617911"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=617911"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=617911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}