Kingdom Holding swings to SAR 1.46 bln losses for 2020

31/03/2021 Argaam Exclusive

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Kingdom Holding Co. (KHC) reported net loss after Zakat and tax of SAR 1.46 billion for 2020, versus net profit of SAR 420.2 million for 2019.

These losses were attributed to lower share from equity-accounted investees, decreased hotel and other operating revenues, impairment of equity-accounted investee, and a drop in gains from investments.

The company also cited higher asset impairment, and increased Zakat expenses.

Financials (M)

Item	2019	2020	Change‬
Revenues	1,403.81	554.18	(60.5 %)
Gross Income	493.48	0.86	(99.8 %)
Operating Income	71.47	(575.88)	(905.8 %)
Net Income	420.17	(1466.80)	(449.1 %)
Average Shares	3,705.88	3,705.88	-
EPS (Riyals)	0.11	(0.40)	(449.1 %)

Q4 2020 net loss stood at SAR 97.2 million, versus net profit of SAR 18.36 million in Q4 2019.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	449.64	116.69	(74.0 %)
Gross Income	192.14	161.92	(15.7 %)
Operating Income	75.61	(186.01)	(346.0 %)
Net Income	18.36	(97.20)	(629.3 %)
Average Shares	3,705.88	3,705.88	-
EPS (Riyals)	0.00	(0.03)	(629.3 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	183.66	116.69	(36.5 %)
Gross Income	(8.06)	161.92	2109.2 %
Operating Income	(62.46)	(186.01)	(197.8 %)
Net Income	(192.73)	(97.20)	49.6 %
Average Shares	3,705.88	3,705.88	-
EPS (Riyals)	(0.05)	(0.03)	49.6 %

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