Kingdom Holding swings to net profit of SAR 503.3 mln in H1 2021

22/08/2021 Argaam Exclusive

Kingdom Holding Co. (KHC) swung to a net profit after Zakat and tax of SAR 503.3 million for the first half of 2021, against a net loss of SAR 1.176 billion in the prior-year period.

 

The positive results were driven by an increase in share of results from equity-accounted investees and a decrease in impairment of equity-accounted investees. KHC also reported higher dividend income and other gains, along with lower hotels and other operating costs and financial charges.

 

The earnings were also supported by lower general, administrative and marketing expenses, in addition to a decrease in impairment of financial assets and Zakat expense.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 460.16 272.22 (40.8 %)
Gross Income 53.33 37.34 (30.0 %)
Operating Income (121.08) (68.52) 43.4 %
Net Income (1176.87) 503.31 142.8 %
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) (0.32) 0.14 142.8 %

The firm also turned to a net profit after Zakat and tax of SAR 412.2 million in Q2 2021, compared to a loss of SAR 1.126 billion in the same period last year.

 

On a sequential basis, Q2 net profit rose sharply from SAR 91 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 126.69 167.91 32.5 %
Gross Income (18.36) 44.19 340.7 %
Operating Income (88.27) (5.98) 93.2 %
Net Income (1126.76) 412.25 136.6 %
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) (0.30) 0.11 136.6 %

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Share Price

Kingdom Holding Co.
10.24
(0.02) (0.19 %)

Kingdom Holding Co. (KINGDOM)

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Financial Ratios
Current
Market Cap (M Riyal) 37,948.23
Enterprise Value (EV) (M) 50,965.77
Shares Outstanding ((M)) 3,705.88
EPS ( Riyal) (TTM) 0.37
Book Value (BV) ( Riyal) 9.72
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 38.31
P/E (TTM) 27.73
Price/book 1.05
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 4.1
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