Financial Results : Kingdom Holding turns to SAR 1.369 bln loss in 9M 2020

Kingdom Holding turns to SAR 1.369 bln loss in 9M 2020

11/11/2020 Argaam Exclusive

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Kingdom Holding Co. posted a net loss after Zakat and tax of SAR 1.369 billion in the first nine months of 2020, compared to a profit of SAR 401.8 million in the same period last year.

 

The decline was attributed to lower share of results from equity-accounted investees along with decrease in hotels and other operating revenues. In addition, the company also noted an increase in other losses and higher zakat expenses.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 1,257.06 643.82 (48.8 %)
Gross Income 404.50 45.27 (88.8 %)
Operating Income 26.79 (183.53) (785.1 %)
Net Income 401.81 (1369.60) (440.9 %)
Average Shares 3,705.88 3,705.88 -
Earnings Per Share before unusual items (Riyals) 0.12 (0.23) (289.4 %)
EPS (Riyals) 0.11 (0.37) (440.9 %)

The firm also turned to a loss of SAR 192.7 million in Q3 2020, versus a profit of SAR 86.8 million the year-earlier period.

 

On a sequential basis, Kingdom Holding narrowed its loss by 91.3% in Q3 2020.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 432.36 183.66 (57.5 %)
Gross Income 118.74 (8.06) (106.8 %)
Operating Income 62.89 (62.46) (199.3 %)
Net Income 86.80 (192.73) (322.0 %)
Average Shares 3,705.88 3,705.88 -
Earnings Per Share before unusual items (Riyals) 0.00 (0.05) (2932.6 %)
EPS (Riyals) 0.02 (0.05) (322.0 %)

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