Knowledge Economic City posts SAR 19.6 mln profit in 9M 2019

03/11/2019 Argaam Exclusive

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Knowledge Economic City (KEC) posted SAR 19.6 million net profit in the first nine months of 2019, as compared to a net loss of SAR 34.8 million in the same period in 2018, the company said in a statement on Tadawul.

The company attributed the increase in net profit to higher revenue, reduced expenses and re-measurement of investment.

Financials (M)

Item	9m 2018	9m 2019	Change‬
Revenues	37.67	125.18	232.3 %
Gross Income	4.67	42.01	799.6 %
Operating Income	(33.35)	9.38	128.1 %
Net Income	(34.81)	19.61	156.3 %
Average Shares	339.30	339.30	-
EPS (Riyals)	(0.10)	0.06	156.3 %

Meanwhile, the decrease in the net loss in Q3 this year as compared to the corresponding quarter of 2018 was due to higher revenue from sold units and reduced expenses.

On a quarterly basis, the Q3 net profit decreased due to lower revenue.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2018	Q3 2019	Change‬
Revenues	14.77	17.16	16.2 %
Gross Income	2.94	4.72	60.7 %
Operating Income	(13.17)	(4.19)	68.2 %
Net Income	(12.47)	(5.43)	56.4 %
Average Shares	339.30	339.30	-
EPS (Riyals)	(0.04)	(0.02)	56.4 %

Item	Q2 2019	Q3 2019	Change‬
Revenues	27.75	17.16	(38.2 %)
Gross Income	6.34	4.72	(25.5 %)
Operating Income	(6.19)	(4.19)	32.3 %
Net Income	5.48	(5.43)	(199.1 %)
Average Shares	339.30	339.30	-
EPS (Riyals)	0.02	(0.02)	(199.1 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	-	-	-	-	(145.63)	-	(0.43)
Q1 2011	86.22	-	63.38	-	20.19	-	0.06
Q2 2011	-	-	-	-	(9.28)	-	(0.03)
Q3 2011	-	-	-	-	(9.96)	-	(0.03)
Q4 2011	7.72	-	3.13	-	(10.08)	-	(0.03)
2011	93.94	-	66.50	-	(9.13)	93.7 %	(0.03)
Q1 2012	4.02	(95.3 %)	1.79	(97.2 %)	(8.33)	(141.3 %)	(0.02)
Q2 2012	26.52	-	16.79	-	(0.78)	91.6 %	0.00
Q3 2012	57.04	-	40.04	-	9.69	197.3 %	0.03
Q4 2012	5.00	(35.2 %)	(1.68)	(153.7 %)	(26.63)	(164.1 %)	(0.08)
2012	92.58	(1.4 %)	56.94	(14.4 %)	(26.05)	(185.4 %)	(0.08)
Q1 2013	5.99	49.0 %	2.56	43.1 %	(8.14)	2.3 %	(0.02)
Q2 2013	8.88	(66.5 %)	3.52	(79.0 %)	(3.02)	(287.3 %)	(0.01)
Q3 2013	18.92	(66.8 %)	5.12	(87.2 %)	1.72	(82.3 %)	0.01
Q4 2013	4.38	(12.6 %)	(0.33)	80.1 %	9.07	134.1 %	0.03
2013	38.16	(58.8 %)	10.87	(80.9 %)	(0.37)	98.6 %	0.00
Q1 2014	21.67	261.7 %	4.51	75.8 %	(2.49)	69.4 %	(0.01)
Q2 2014	27.56	210.4 %	7.64	117.2 %	15.53	614.7 %	0.05
Q3 2014	12.72	(32.8 %)	4.19	(18.1 %)	15.93	826.8 %	0.05
Q4 2014	10.82	147.3 %	(6.15)	(1,740.7 %)	(57.15)	(730.3 %)	(0.17)
2014	72.76	90.7 %	10.19	(6.2 %)	(28.18)	(7,453.6 %)	(0.08)
Q1 2015	4.11	(81.0 %)	(0.74)	(116.4 %)	(4.81)	(93.2 %)	(0.01)
Q2 2015	10.23	(62.9 %)	4.27	(44.1 %)	(3.11)	(120.0 %)	(0.01)
Q3 2015	7.04	(44.6 %)	2.75	(34.4 %)	(5.74)	(136.1 %)	(0.02)
Q4 2015	9.59	(11.4 %)	(0.74)	87.9 %	2.19	103.8 %	0.01
2015	30.97	(57.4 %)	5.54	(45.6 %)	(11.47)	59.3 %	(0.03)
Q1 2016	5.36	30.5 %	(0.34)	54.3 %	(7.46)	(55.1 %)	(0.02)
Q2 2016	29.90	192.4 %	17.08	299.9 %	8.55	375.1 %	0.03
Q3 2016	4.19	(40.6 %)	(0.29)	(110.4 %)	(9.12)	(58.8 %)	(0.03)
Q4 2016	65.86	587.0 %	40.98	5630.4 %	22.04	906.7 %	0.06
2016	105.31	240.1 %	57.44	936.8 %	14.01	222.1 %	0.04
Q1 2017	8.69	61.9 %	1.69	600.6 %	(6.90)	7.5 %	(0.02)
Q2 2017	8.43	(71.8 %)	0.61	(96.4 %)	(9.20)	(207.6 %)	(0.03)
Q3 2017	4.18	(0.2 %)	(2.03)	(606.3 %)	(11.69)	(28.1 %)	(0.03)
Q4 2017	2.58	(96.1 %)	5.17	(87.4 %)	9.11	(58.7 %)	0.03
2017	23.88	(77.3 %)	5.45	(90.5 %)	(18.69)	(233.4 %)	(0.06)
Q1 2018	7.26	(16.4 %)	(0.91)	(153.8 %)	(13.48)	(95.4 %)	(0.04)
Q2 2018	15.64	85.4 %	2.64	334.5 %	(8.86)	3.7 %	(0.03)
Q3 2018	14.77	253.7 %	2.94	245.0 %	(12.47)	(6.7 %)	(0.04)
Q4 2018	33.46	1196.2 %	8.59	66.1 %	(3.14)	(134.5 %)	(0.01)
2018	71.12	197.9 %	13.26	143.5 %	(37.95)	(103.1 %)	(0.11)
Q1 2019	82.14	1031.5 %	30.01	3393.7 %	19.56	245.1 %	0.06
Q2 2019	27.75	77.5 %	6.34	139.9 %	5.48	161.9 %	0.02
Q3 2019	17.16	16.2 %	4.72	60.7 %	(5.43)	56.4 %	(0.02)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	-	-	-	-	-	-	-
2010	-	-	-	-	(145.63)	-	(0.43)
2011	93.94	-	66.50	-	(9.13)	93.7 %	(0.03)
2012	92.58	(1.4 %)	56.94	(14.4 %)	(26.05)	(185.4 %)	(0.08)
2013	38.16	(58.8 %)	10.87	(80.9 %)	(0.37)	98.6 %	0.00
2014	72.76	90.7 %	10.19	(6.2 %)	(28.18)	(7,453.6 %)	(0.08)
2015	30.97	(57.4 %)	5.54	(45.6 %)	(11.47)	59.3 %	(0.03)
2016	105.31	240.1 %	57.44	936.8 %	14.01	222.1 %	0.04
2017	23.88	(77.3 %)	5.45	(90.5 %)	(18.69)	(233.4 %)	(0.06)
2018	71.12	197.9 %	13.26	143.5 %	(37.95)	(103.1 %)	(0.11)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	70.80 %	23.71 %	(9.72 %)
2011	70.80 %	23.71 %	(9.72 %)
Q1 2012	41.88 %	(309.15 %)	(320.76 %)
Q2 2012	56.72 %	(51.57 %)	(76.18 %)
Q3 2012	64.79 %	22.25 %	(9.97 %)
Q4 2012	61.50 %	8.80 %	(28.13 %)
2012	61.50 %	8.80 %	(28.13 %)
Q1 2013	61.04 %	11.49 %	(27.35 %)
Q2 2013	57.79 %	1.09 %	(36.53 %)
Q3 2013	24.55 %	(72.81 %)	(92.97 %)
Q4 2013	28.48 %	(43.36 %)	(0.97 %)
2013	28.47 %	(43.37 %)	(0.98 %)
Q1 2014	23.79 %	(22.71 %)	9.81 %
Q2 2014	23.35 %	(7.42 %)	32.85 %
Q3 2014	24.13 %	(9.99 %)	57.36 %
Q4 2014	14.01 %	(20.36 %)	0.65 %
2014	14.01 %	(20.36 %)	0.65 %
Q1 2015	8.96 %	(37.39 %)	(3.34 %)
Q2 2015	4.16 %	(62.92 %)	(54.09 %)
Q3 2015	0.41 %	(100.25 %)	(130.94 %)
Q4 2015	17.89 %	(77.46 %)	(37.04 %)
2015	17.89 %	(77.46 %)	(37.04 %)
Q1 2016	18.44 %	(70.62 %)	(43.82 %)
Q2 2016	36.14 %	(23.94 %)	(4.74 %)
Q3 2016	32.05 %	(27.68 %)	(11.91 %)
Q4 2016	54.54 %	16.00 %	13.30 %
2016	54.54 %	16.00 %	13.30 %
Q1 2017	54.74 %	13.76 %	13.41 %
Q2 2017	49.32 %	(2.04 %)	(3.66 %)
Q3 2017	47.33 %	(2.81 %)	(6.60 %)
Q4 2017	22.81 %	(105.79 %)	(129.60 %)
2017	22.81 %	(105.79 %)	(129.60 %)
Q1 2018	12.66 %	(133.23 %)	(167.16 %)
Q2 2018	16.45 %	(95.93 %)	(125.40 %)
Q3 2018	24.46 %	(73.89 %)	(94.33 %)
Q4 2018	18.65 %	(49.88 %)	(53.36 %)
2018	18.65 %	(49.89 %)	(53.37 %)
Q1 2019	30.26 %	(2.49 %)	(3.05 %)
Q2 2019	30.28 %	(1.34 %)	(6.76 %)
Q3 2019	30.94 %	4.38 %	(2.27 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	-	-	-
2010	-	-	-
2011	70.80 %	23.71 %	(9.72 %)
2012	61.50 %	8.80 %	(28.13 %)
2013	28.47 %	(43.37 %)	(0.98 %)
2014	14.01 %	(20.36 %)	0.65 %
2015	17.89 %	(77.46 %)	(37.04 %)
2016	54.54 %	16.00 %	13.30 %
2017	22.81 %	(105.79 %)	(129.60 %)
2018	18.65 %	(49.89 %)	(53.37 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	73.51 %	58.58 %	23.42 %
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	40.50 %	(56.84 %)	(130.66 %)
Q1 2012	44.54 %	(200.25 %)	(207.19 %)
Q2 2012	63.28 %	16.59 %	(2.94 %)
Q3 2012	70.21 %	51.27 %	16.99 %
Q4 2012	(33.52 %)	(348.59 %)	(532.24 %)
Q1 2013	42.77 %	(89.04 %)	(135.85 %)
Q2 2013	39.62 %	(63.40 %)	(33.98 %)
Q3 2013	27.07 %	0.83 %	9.09 %
Q4 2013	(7.63 %)	(131.27 %)	207.25 %
Q1 2014	20.79 %	(4.67 %)	(11.48 %)
Q2 2014	27.72 %	4.43 %	56.35 %
Q3 2014	32.98 %	(8.56 %)	125.29 %
Q4 2014	(56.83 %)	(128.77 %)	(263.45 %)
Q1 2015	(18.00 %)	(166.48 %)	(116.91 %)
Q2 2015	41.76 %	(19.23 %)	(30.39 %)
Q3 2015	39.06 %	(135.47 %)	(81.59 %)
Q4 2015	(7.73 %)	(58.80 %)	22.83 %
Q1 2016	(6.30 %)	(104.61 %)	(139.01 %)
Q2 2016	57.13 %	27.96 %	28.60 %
Q3 2016	(6.86 %)	(255.29 %)	(217.99 %)
Q4 2016	62.22 %	37.63 %	33.46 %
Q1 2017	19.48 %	(86.53 %)	(79.44 %)
Q2 2017	7.21 %	(99.18 %)	(109.13 %)
Q3 2017	(48.54 %)	(271.91 %)	(279.91 %)
Q4 2017	200.43 %	76.60 %	(122.12 %)
Q1 2018	(12.55 %)	(167.63 %)	(185.74 %)
Q2 2018	16.89 %	(44.13 %)	(56.67 %)
Q3 2018	19.90 %	(85.62 %)	(84.42 %)
Q4 2018	25.69 %	(11.25 %)	(9.39 %)
Q1 2019	36.53 %	23.96 %	24.37 %
Q2 2019	22.84 %	(19.44 %)	(54.36 %)
Q3 2019	27.53 %	(20.37 %)	(31.65 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	-	-	-	-
Q4 2010	-	-	-	-
Q1 2011	339.30	-	-	9.54
Q2 2011	339.30	-	-	9.52
Q3 2011	339.30	-	-	9.49
Q4 2011	339.30	(0.03)	(0.03)	9.46
Q1 2012	339.30	(0.11)	(0.11)	9.43
Q2 2012	339.30	(0.09)	(0.09)	9.43
Q3 2012	339.30	(0.03)	(0.03)	9.46
Q4 2012	339.30	(0.08)	(0.08)	9.38
Q1 2013	339.30	(0.08)	(0.08)	9.36
Q2 2013	339.30	(0.08)	(0.08)	9.35
Q3 2013	339.30	(0.11)	(0.11)	9.35
Q4 2013	339.30	0.00	0.00	9.38
Q1 2014	339.30	0.02	0.02	9.37
Q2 2014	339.30	0.07	0.07	9.42
Q3 2014	339.30	0.11	0.11	9.47
Q4 2014	339.30	(0.08)	0.00	9.30
Q1 2015	339.30	(0.09)	(0.01)	9.28
Q2 2015	339.30	(0.14)	(0.06)	9.27
Q3 2015	339.30	(0.21)	(0.12)	9.26
Q4 2015	339.30	(0.03)	(0.03)	9.26
Q1 2016	339.30	(0.04)	(0.04)	9.26
Q2 2016	339.30	(0.01)	(0.01)	9.28
Q3 2016	339.30	(0.02)	(0.02)	9.26
Q4 2016	339.30	0.04	0.04	9.32
Q1 2017	339.30	0.04	0.04	9.30
Q2 2017	339.30	(0.01)	(0.01)	9.27
Q3 2017	339.30	(0.02)	(0.02)	9.24
Q4 2017	339.30	(0.06)	(0.09)	9.26
Q1 2018	339.30	(0.07)	(0.11)	9.22
Q2 2018	339.30	(0.07)	(0.11)	9.20
Q3 2018	339.30	(0.08)	(0.11)	9.16
Q4 2018	339.30	(0.11)	(0.11)	9.15
Q1 2019	339.30	(0.01)	(0.01)	9.21
Q2 2019	339.30	0.03	(0.03)	9.22
Q3 2019	339.30	0.05	(0.01)	9.21

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	-	-	-	-
2010	339.30	(0.43)	(0.04)	9.48
2011	339.30	(0.03)	(0.03)	9.46
2012	339.30	(0.08)	(0.08)	9.38
2013	339.30	0.00	0.00	9.38
2014	339.30	(0.08)	0.00	9.30
2015	339.30	(0.03)	(0.03)	9.26
2016	339.30	0.04	0.04	9.32
2017	339.30	(0.06)	(0.09)	9.26
2018	339.30	(0.11)	(0.11)	9.15

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	0.79
Q2 2011	-	-	0.85
Q3 2011	-	-	0.80
Q4 2011	NEG	NEG	1.16
Q1 2012	NEG	NEG	2.01
Q2 2012	NEG	NEG	1.59
Q3 2012	NEG	NEG	1.52
Q4 2012	NEG	NEG	1.34
Q1 2013	NEG	NEG	1.55
Q2 2013	NEG	NEG	1.51
Q3 2013	NEG	NEG	1.59
Q4 2013	NEG	NEG	1.89
Q1 2014	More than 100	More than 100	2.26
Q2 2014	More than 100	More than 100	2.17
Q3 2014	More than 100	More than 100	2.54
Q4 2014	NEG	More than 100	1.82
Q1 2015	NEG	NEG	2.47
Q2 2015	NEG	NEG	2.94
Q3 2015	NEG	NEG	1.80
Q4 2015	NEG	NEG	1.67
Q1 2016	NEG	NEG	1.47
Q2 2016	NEG	NEG	1.56
Q3 2016	NEG	NEG	1.35
Q4 2016	More than 100	More than 100	1.94
Q1 2017	More than 100	More than 100	1.88
Q2 2017	NEG	NEG	1.69
Q3 2017	NEG	NEG	1.57
Q4 2017	NEG	NEG	1.38
Q1 2018	NEG	NEG	1.30
Q2 2018	NEG	NEG	1.25
Q3 2018	NEG	NEG	1.24
Q4 2018	NEG	NEG	0.99
Q1 2019	NEG	NEG	1.06
Q2 2019	More than 100	NEG	1.06
Q3 2019	More than 100	NEG	1.05

Period	P/E	Adjusted P/E	Price/book
2009	-	-	-
2010	NEG	NEG	0.84
2011	NEG	NEG	1.16
2012	NEG	NEG	1.34
2013	NEG	NEG	1.89
2014	NEG	More than 100	1.82
2015	NEG	NEG	1.67
2016	More than 100	More than 100	1.94
2017	NEG	NEG	1.38
2018	NEG	NEG	0.99

Business Segments (Million)

Compared With The

Period	Real estate development	Property management & consulting services	Held for sale	Learning and training of operational staff	Dicontinued operation
Q2 2015	-	4.96	-	5.27	-
Q3 2015	-	4.63	-	2.41	-
Q4 2015	-	7.84	-	1.74	-
Q1 2016	0.27	4.75	-	0.34	-
Q2 2016	19.63	8.19	-	2.08	-
Q3 2016	0.27	2.00	-	1.91	-
Q4 2016	50.27	7.21	-	8.39	-
Q1 2017	0.27	3.28	-	5.14	-
Q2 2017	0.27	4.13	-	4.04	-
Q3 2017	0.27	2.80	-	1.10	-
Q4 2017	7.57	5.04	-	5.22	-
Q1 2018	6.93	1.96	-	0.33	(1.96)
Q2 2018	14.14	-	-	1.50	-
Q3 2018	13.49	2.76	-	1.27	-
Q4 2018	30.03	2.91	-	3.43	(2.91)
Q1 2019	79.74	-	-	2.39	-
Q2 2019	28.27	-	4.26	(2.39)	-
Q3 2019	17.16	-	0.26	-	-

Period	Real estate development	Property management & consulting services	Held for sale	Learning and training of operational staff	Dicontinued operation
2015	-	21.02	-	9.95	-
2016	70.43	22.16	-	12.72	-
2017	8.38	15.25	-	15.50	(15.25)
2018	64.59	9.52	-	6.53	(9.52)

Financial Ratios

	Current
Market Cap (M Riyal)	4,634.84
Enterprise Value (EV) (M)	5,461.07
Shares Outstanding ((M))	339.30
EPS ( Riyal) (TTM)	(0.15)
Book Value (BV) ( Riyal)	8.84
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	1.54
Return on Average Assets (%) (TTM)	(1.30 )
Return on Average Equity (%) (TTM)	(1.66 )

Knowledge Economic City (KEC)

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Knowledge Economic City posts SAR 19.6 mln profit in 9M 2019

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2019 Q3

Financial Ratios

Share Price

Knowledge Economic City (KEC)

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Knowledge Economic City posts SAR 19.6 mln profit in 9M 2019

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2019

Revenue by Business Segment (Latest) 2019 Q3

Financial Ratios

Share Price

Knowledge Economic City (KEC)

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Business Segments (Million)