Kingdom Holding 9M 2022 net profit reaches SAR 6.707 bln; Q3 at SAR 354.8 mln

09/11/2022 Argaam Exclusive

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Kingdom Holding Co. (KHC) posted a net profit after Zakat and tax of SAR 6.707 billion for the first nine months of 2022, compared with SAR 612 million a year earlier.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	533.87	1,030.88	93.1 %
Gross Income	115.08	384.59	234.2 %
Operating Income	(58.66)	68.30	216.4 %
Net Income	612.00	6,707.57	996.0 %
Average Shares	3,705.88	3,705.88	-
EPS (Riyals)	0.17	1.81	996.0 %

This improvement was mainly due to gain on a partial sale of equity in an investee that was recorded in Q1 2022, as well as growth in hotel and other operating revenues, and increased dividend income.

The firm also recorded a net profit of SAR 354.8 million in Q3 2022, soaring from SAR 108.6 million in the corresponding period last year, driven by an increase in dividend income, as well as hotel and other operating revenues, in addition to a rise in share of results from equity-accounted investees.

On a sequential basis, Q3 net profit slumped 17% from SAR 427.15 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	261.65	358.37	37.0 %
Gross Income	77.75	142.78	83.6 %
Operating Income	9.86	46.12	367.8 %
Net Income	108.69	354.80	226.4 %
Average Shares	3,705.88	3,705.88	-
EPS (Riyals)	0.03	0.10	226.4 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	354.20	358.37	1.2 %
Gross Income	123.30	142.78	15.8 %
Operating Income	21.55	46.12	114.0 %
Net Income	427.15	354.80	(16.9 %)
Average Shares	3,705.88	3,705.88	-
EPS (Riyals)	0.12	0.10	(16.9 %)

Shareholders’ equity, after minority interest, reached SAR 28.812 billion as of Sept. 30, 2022, compared with SAR 32.508 billion a year earlier.

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