Kingdom Holding’s net profit down 38% to SAR 420.2 mln in FY2019

31/03/2020 Argaam Exclusive

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Kingdom Holding Co. reported a net profit after Zakat ad taxes of SAR 420.168 million for the fiscal year 2019, a 38.36% year-on-year (YoY) decline.

The decline in net profit was attributed to lower share of results from equity-accounted investees, lower hotel and other operating revenues and a decrease in gains from investments, the company said in a bourse statement. The company also cited the increase in finance charges, general and administrative and marketing expenses as well as in impairment of financial assets as reasons for lower net profit this period.

Financials (M)

Item	2018	2019	Change‬
Revenues	1,943.92	1,403.81	(27.8 %)
Gross Income	601.59	493.48	(18.0 %)
Operating Income	215.98	71.47	(66.9 %)
Net Income	681.63	420.17	(38.4 %)
Average Shares	3,705.88	3,705.88	-
EPS (Riyals)	0.18	0.11	(38.4 %)

Net profit for Q4 2019 fell 61.2% YoY to SAR 18.36 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	547.74	449.64	(17.9 %)
Gross Income	203.76	192.14	(5.7 %)
Operating Income	183.41	75.61	(58.8 %)
Net Income	47.37	18.36	(61.2 %)
Average Shares	3,705.88	3,705.88	-
EPS (Riyals)	0.01	0.00	(61.2 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	432.36	449.64	4.0 %
Gross Income	118.74	192.14	61.8 %
Operating Income	62.89	75.61	20.2 %
Net Income	86.80	18.36	(78.8 %)
Average Shares	3,705.88	3,705.88	-
EPS (Riyals)	0.02	0.00	(78.8 %)

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