Knowledge City narrows losses to SAR 22.1 mln in 2021; Q4 losses at SAR 19.5 mln

24/03/2022 Argaam Exclusive

Knowledge Economic City Co. (Knowledge City) narrowed net losses after Zakat and tax to SAR 22.1 million for 2021, from a loss of SAR 25.7 million logged a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 112.94 42.45 (62.4 %)
Gross Income 24.54 10.47 (57.3 %)
Operating Income (16.26) (46.13) (183.8 %)
Net Income (25.72) (22.09) 14.1 %
Average Shares 339.30 339.30 -
EPS (Riyals) (0.08) (0.07) 14.1 %

The decline in losses followed a SAR 26 million rise in other income due to liquidation of a letter of guarantee belonging to one of the company’s contractors.

 

Knowledge City reported a net loss of SAR 19.5 million for Q4 2021, from a loss of SAR 3.5 million in Q4 2020.

 

On a sequential basis, the company widened its losses from SAR 2.5 million in Q3 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 20.58 8.94 (56.6 %)
Gross Income 6.45 1.80 (72.1 %)
Operating Income (3.81) (21.43) (462.2 %)
Net Income (3.51) (19.51) (456.1 %)
Average Shares 339.30 339.30 -
EPS (Riyals) (0.01) (0.06) (456.1 %)

Total shareholders’ equity, excluding minority interest, fell 0.7 % to SAR 3.076 billion from SAR 3.098 billion a year ago.

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Share Price

Knowledge Economic City
14.06
(0.06) (0.42 %)

Knowledge Economic City (KEC)

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Financial Ratios
Current
Market Cap (M Riyal) 4,770.56
Enterprise Value (EV) (M) 5,816.06
Shares Outstanding ((M)) 339.30
EPS ( Riyal) (TTM) (0.22)
Book Value (BV) ( Riyal) 8.77
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.60
Return on Average Assets (%) (TTM) (1.85 )
Return on Average Equity (%) (TTM) (2.45 )
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