Kingdom Holding incurs SAR 1.17 bln loss in H1 2020

25/08/2020 Argaam Exclusive

Kingdom Holding Co. (KHC) sustained a net loss after Zakat and tax of SAR 1.176 billion for H1 2020, against a net profit of SAR 315 million a year earlier.

 

The losses were attributed to a decrease in the company’s share from equity-accounted affiliates, increase in other losses, and a decrease in investment gains.

 

In addition, revenues from hotels and other operating revenues dropped on the COVID-19 pandemic.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 824.71 460.16 (44.2 %)
Gross Income 285.77 53.33 (81.3 %)
Operating Income (36.10) (121.08) (235.4 %)
Net Income 315.00 (1176.87) (473.6 %)
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) 0.09 (0.32) (473.6 %)

The company also swung to a net loss after Zakat and tax of SAR 1.126 billion in Q2 2020, compared to a net profit of SAR 143.6 million in prior-year period. KHC cited higher Zakat charges, financial asset losses and a decline in dividend income.

 

The company was also hit by a decrease in its share from equity-accounted affiliates, increase in other losses, and a decline in investment gains.

In addition, revenues from hotels and other operating revenues dropped on the COVID-19 pandemic.

 

KHC sustained a net loss of SAR 50 million in the previous quarter.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 413.03 126.69 (69.3 %)
Gross Income 176.13 (18.36) (110.4 %)
Operating Income 36.65 (88.27) (340.8 %)
Net Income 143.60 (1126.76) (884.7 %)
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) 0.04 (0.30) (884.7 %)

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Share Price

Kingdom Holding Co.
8.80
(0.01) (0.11 %)

Kingdom Holding Co. (KINGDOM)

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Financial Ratios
Current
Market Cap (M Riyal) 32,611.76
Enterprise Value (EV) (M) 45,629.30
Shares Outstanding ((M)) 3,705.88
EPS ( Riyal) (TTM) 0.36
Book Value (BV) ( Riyal) 10.13
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 30.75
P/E (TTM) 24.62
Price/book 0.87
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 3.9
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