Kingdom Holding profit grows to SAR 6.95 bln in 2022; Q4 at SAR 250.3 mln

30/03/2023 Argaam Exclusive

Kingdom Holding Co. (KHC) reported a net profit of SAR 6.95 billion for 2022, compared with SAR 1.01 billion a year earlier.

 


Financials (M)

Item 2021 2022 Change‬
Revenues 927.45 1,460.65 57.5 %
Gross Income 297.17 559.05 88.1 %
Operating Income (83.49) 120.86 244.8 %
Net Income 1,017.43 6,957.87 583.9 %
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) 0.27 1.88 583.9 %

The profit growth was driven by a gain on the sale of half of the stake in an associate, in addition to higher hotels and other operating revenues. KHC also reported an increase in dividend income. 

  

The company also cited a rise in its profit share from equity-accounted investees, finance income, a decrease in impairment of financial assets, as well as lower Zakat expenses. 

  

This was despite no gain realized this year from the sale of investment properties compared to last year, in addition to an increase in finance charges, and growth in the hotels and other operating revenues. 

  

KHC reported a net profit of SAR 250.3 million in Q4 2022, down 38% from SAR 405.4 million a year earlier. 

  

On a sequential basis, Q4 2022 net profit fell 29.5% from SAR 354.8 million. 



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 393.57 429.77 9.2 %
Gross Income 182.09 174.46 (4.2 %)
Operating Income (24.83) 52.56 311.7 %
Net Income 405.43 250.30 (38.3 %)
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) 0.11 0.07 (38.3 %)

Shareholders’ equity, after minority interest, increased to SAR 30.72 billion in 2022, from SAR 30.89 billion a year earlier.

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Share Price

Kingdom Holding Co.
8.98
(0.23) (2.50 %)

Kingdom Holding Co. (KINGDOM)

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Financial Ratios
Current
Market Cap (M Riyal) 33,278.82
Enterprise Value (EV) (M) 46,296.36
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) 31.38
P/E (TTM) 25.13
Price/book 0.89
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 3.9
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