KEC reports a net profit of SAR 29m for the first nine months of 2014

29/10/2014 Argaam Exclusive

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knowledge Economic City Company (KEC), which develops the knowledge Economic City (KEC) in Al-Medina, reported a net profit of SAR 23m for the nine months ended September 30, 2014, compared to a loss of SAR 9.4m for the same period last year.

A net profit of SAR 15.9m was reported for Q3-2014 compared to SAR 15.5m for Q2.

Financials (M)

Item	9m 2013	9m 2014	Change‬
Revenues	33.79	61.95	83.3 %
Gross Income	11.20	16.34	45.9 %
Operating Income	(12.65)	(2.95)	76.7 %
Net Income	(9.44)	28.97	407.0 %
Average Shares	339.30	339.30	-
EPS (Riyals)	(0.03)	0.09	407.0 %

The company attributed the increase of the first nine months of 2014’s net profit, compared to the same period last year, to the increase of Villas sales revenues of KEC and sales and Accelerating the delivery of villas sold for AMAAK Co. on Dar Aljjwar project, which resulted in increase of net realized profit from sale of land and net profit share on associate companies, in addition to the decrease of marketing & selling expenses.

The increase of Q3- 2014’s net profit, compared to the same period last year was attributed to the increase of Villas sales revenues of KEC and sales and Accelerating the delivery of villas sold for AMAAK Co. on Dar Aljjwar project, which resulted in increase of net realized profit from sale of land and net profit share on associate companies, in addition to the decrease of the cost of sales and zakat provision.

The increase of Q3- 2014’s net profit, compared to the previous period (Q2) was attributed to the decrease of general and administrative expenses & Zakat expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2013	Q3 2014	Change‬
Revenues	18.92	12.72	(32.8 %)
Gross Income	5.12	4.19	(18.1 %)
Operating Income	(0.42)	(1.73)	(312.9 %)
Net Income	1.72	15.93	826.8 %
Average Shares	339.30	339.30	-
EPS (Riyals)	0.01	0.05	826.8 %

Item	Q2 2014	Q3 2014	Change‬
Revenues	27.56	12.72	(53.9 %)
Gross Income	7.64	4.19	(45.1 %)
Operating Income	0.55	(1.73)	(414.0 %)
Net Income	15.53	15.93	2.6 %
Average Shares	339.30	339.30	-
EPS (Riyals)	0.05	0.05	2.6 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2005	-	-	-	-	-	-
Q2 2005	-	-	-	-	-	-
Q3 2005	-	-	-	-	-	-
Q4 2005	-	-	-	-	-	-
2005	-	-	-	-	-	-
Q1 2006	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-
2006	-	-	-	-	-	-
Q1 2007	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-
2007	-	-	-	-	-	-
Q1 2008	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-
2008	-	-	-	-	-	-
Q1 2009	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-
2009	-	-	-	-	-	-
Q1 2010	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-
2010	-	-	-	-	(16.79)	-
Q1 2011	86.22	-	63.38	-	50.51	-
Q2 2011	-	-	-	-	(12.78)	-
Q3 2011	-	-	-	-	(12.02)	-
Q4 2011	7.72	-	3.13	-	(5.67)	-
2011	93.94	-	66.50	-	20.05	219.4 %
Q1 2012	4.02	(95.3 %)	1.79	(97.2 %)	(8.47)	(116.8 %)
Q2 2012	26.52	-	16.79	-	4.00	131.3 %
Q3 2012	57.04	-	40.04	-	28.18	334.5 %
Q4 2012	5.00	(35.2 %)	(1.68)	(153.7 %)	(18.07)	(218.5 %)
2012	92.58	(1.4 %)	56.94	(14.4 %)	5.64	(71.9 %)
Q1 2013	5.99	49.0 %	2.56	43.1 %	(5.97)	29.6 %
Q2 2013	8.88	(66.5 %)	3.52	(79.0 %)	(6.27)	(256.7 %)
Q3 2013	18.92	(66.8 %)	5.12	(87.2 %)	(0.42)	(101.5 %)
Q4 2013	4.38	(12.6 %)	(0.33)	80.1 %	(6.43)	64.4 %
2013	38.16	(58.8 %)	10.87	(80.9 %)	(19.08)	(438.5 %)
Q1 2014	21.67	261.7 %	4.51	75.8 %	(1.77)	70.4 %
Q2 2014	27.56	210.4 %	7.64	117.2 %	0.55	108.8 %
Q3 2014	12.72	(32.8 %)	4.19	(18.1 %)	(1.73)	(312.9 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2004	-	-	-	-	-	-
2005	-	-	-	-	-	-
2006	-	-	-	-	-	-
2007	-	-	-	-	-	-
2008	-	-	-	-	-	-
2009	-	-	-	-	-	-
2010	-	-	-	-	(16.79)	-
2011	93.94	-	66.50	-	20.05	219.4 %
2012	92.58	(1.4 %)	56.94	(14.4 %)	5.64	(71.9 %)
2013	38.16	(58.8 %)	10.87	(80.9 %)	(19.08)	(438.5 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2005	-	-	-	-	-	-
Q2 2005	-	-	-	-	-	-
Q3 2005	-	-	-	-	-	-
Q4 2005	-	-	-	-	-	-
2005	-	-	-	-	-	-
Q1 2006	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-
2006	-	-	-	-	-	-
Q1 2007	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-
2007	-	-	-	-	-	-
Q1 2008	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-
2008	-	-	-	-	-	-
Q1 2009	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-
2009	-	-	-	-	-	-
Q1 2010	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-
2010	(145.63)	-	(0.43)	(130.65)	(14.98)	(0.04)
Q1 2011	20.19	-	0.06	-	20.19	0.06
Q2 2011	(9.28)	-	(0.03)	-	(9.28)	(0.03)
Q3 2011	(9.96)	-	(0.03)	-	(9.96)	(0.03)
Q4 2011	(10.08)	-	(0.03)	-	(10.08)	(0.03)
2011	(9.13)	93.7 %	(0.03)	-	(9.13)	(0.03)
Q1 2012	(8.33)	(141.3 %)	(0.02)	-	(8.33)	(0.02)
Q2 2012	(0.78)	91.6 %	0.00	-	(0.78)	0.00
Q3 2012	9.69	197.3 %	0.03	-	9.69	0.03
Q4 2012	(26.63)	(164.1 %)	(0.08)	-	(26.63)	(0.08)
2012	(26.05)	(185.4 %)	(0.08)	-	(26.05)	(0.08)
Q1 2013	(8.14)	2.3 %	(0.02)	-	(8.14)	(0.02)
Q2 2013	(3.02)	(287.3 %)	(0.01)	-	(3.02)	(0.01)
Q3 2013	1.72	(82.3 %)	0.01	-	1.72	0.01
Q4 2013	9.07	134.1 %	0.03	-	9.07	0.03
2013	(0.37)	98.6 %	0.00	-	(0.37)	0.00
Q1 2014	(2.49)	69.4 %	(0.01)	-	(2.49)	(0.01)
Q2 2014	15.53	614.7 %	0.05	-	15.53	0.05
Q3 2014	15.93	826.8 %	0.05	-	15.93	0.05

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2004	-	-	-	-	-	-
2005	-	-	-	-	-	-
2006	-	-	-	-	-	-
2007	-	-	-	-	-	-
2008	-	-	-	-	-	-
2009	-	-	-	-	-	-
2010	(145.63)	-	(0.43)	(130.65)	(14.98)	(0.04)
2011	(9.13)	93.7 %	(0.03)	-	(9.13)	(0.03)
2012	(26.05)	(185.4 %)	(0.08)	-	(26.05)	(0.08)
2013	(0.37)	98.6 %	0.00	-	(0.37)	0.00

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	70.80 %	23.71 %	(9.72 %)
2011	70.80 %	23.71 %	(9.72 %)
Q1 2012	41.88 %	(309.15 %)	(320.76 %)
Q2 2012	56.72 %	(51.57 %)	(76.18 %)
Q3 2012	64.79 %	22.25 %	(9.97 %)
Q4 2012	61.50 %	8.80 %	(28.13 %)
2012	61.50 %	8.80 %	(28.13 %)
Q1 2013	61.04 %	11.49 %	(27.35 %)
Q2 2013	57.79 %	1.09 %	(36.53 %)
Q3 2013	24.55 %	(72.81 %)	(92.97 %)
Q4 2013	28.48 %	(43.36 %)	(0.97 %)
2013	28.47 %	(43.37 %)	(0.98 %)
Q1 2014	23.79 %	(22.71 %)	9.81 %
Q2 2014	23.35 %	(7.42 %)	32.85 %
Q3 2014	24.13 %	(9.99 %)	57.36 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2004	-	-	-
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	70.80 %	23.71 %	(9.72 %)
2012	61.50 %	8.80 %	(28.13 %)
2013	28.47 %	(43.37 %)	(0.98 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	73.51 %	58.58 %	23.42 %
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	40.50 %	(56.84 %)	(130.66 %)
Q1 2012	44.54 %	(200.25 %)	(207.19 %)
Q2 2012	63.28 %	16.59 %	(2.94 %)
Q3 2012	70.21 %	51.27 %	16.99 %
Q4 2012	(33.52 %)	(348.59 %)	(532.24 %)
Q1 2013	42.77 %	(89.04 %)	(135.85 %)
Q2 2013	39.62 %	(63.40 %)	(33.98 %)
Q3 2013	27.07 %	0.83 %	9.09 %
Q4 2013	(7.63 %)	(131.27 %)	207.25 %
Q1 2014	20.79 %	(4.67 %)	(11.48 %)
Q2 2014	27.72 %	4.43 %	56.35 %
Q3 2014	32.98 %	(8.56 %)	125.29 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2005	-	-	-	-
Q2 2005	-	-	-	-
Q3 2005	-	-	-	-
Q4 2005	-	-	-	-
Q1 2006	-	-	-	-
Q2 2006	-	-	-	-
Q3 2006	-	-	-	-
Q4 2006	-	-	-	-
Q1 2007	-	-	-	-
Q2 2007	-	-	-	-
Q3 2007	-	-	-	-
Q4 2007	-	-	-	-
Q1 2008	-	-	-	-
Q2 2008	-	-	-	-
Q3 2008	-	-	-	-
Q4 2008	-	-	-	-
Q1 2009	-	-	-	-
Q2 2009	-	-	-	-
Q3 2009	-	-	-	-
Q4 2009	-	-	-	-
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	-	-	-	-
Q4 2010	-	-	-	-
Q1 2011	339.30	-	-	9.54
Q2 2011	339.30	-	-	9.52
Q3 2011	339.30	-	-	9.49
Q4 2011	339.30	(0.03)	(0.03)	9.46
Q1 2012	339.30	(0.11)	(0.11)	9.43
Q2 2012	339.30	(0.09)	(0.09)	9.43
Q3 2012	339.30	(0.03)	(0.03)	9.46
Q4 2012	339.30	(0.08)	(0.08)	9.38
Q1 2013	339.30	(0.08)	(0.08)	9.36
Q2 2013	339.30	(0.08)	(0.08)	9.35
Q3 2013	339.30	(0.11)	(0.11)	9.35
Q4 2013	339.30	0.00	0.00	9.38
Q1 2014	339.30	0.02	0.02	9.37
Q2 2014	339.30	0.07	0.07	9.42
Q3 2014	339.30	0.11	0.11	9.47

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2004	-	-	-	-
2005	-	-	-	-
2006	-	-	-	-
2007	-	-	-	-
2008	-	-	-	-
2009	-	-	-	-
2010	339.30	(0.43)	(0.04)	9.48
2011	339.30	(0.03)	(0.03)	9.46
2012	339.30	(0.08)	(0.08)	9.38
2013	339.30	0.00	0.00	9.38

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	0.79
Q2 2011	-	-	0.85
Q3 2011	-	-	0.80
Q4 2011	NEG	NEG	1.16
Q1 2012	NEG	NEG	2.01
Q2 2012	NEG	NEG	1.59
Q3 2012	NEG	NEG	1.52
Q4 2012	NEG	NEG	1.34
Q1 2013	NEG	NEG	1.55
Q2 2013	NEG	NEG	1.51
Q3 2013	NEG	NEG	1.59
Q4 2013	NEG	NEG	1.89
Q1 2014	More than 100	More than 100	2.26
Q2 2014	More than 100	More than 100	2.17
Q3 2014	More than 100	More than 100	2.54

Period	P/E	Adjusted P/E	Price/book
2004	-	-	-
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	-	-	-
2009	-	-	-
2010	NEG	NEG	0.84
2011	NEG	NEG	1.16
2012	NEG	NEG	1.34
2013	NEG	NEG	1.89

Financial Ratios

	Current
Market Cap (M Riyal)	4,682.34
Enterprise Value (EV) (M)	5,887.77
Shares Outstanding ((M))	339.30
EPS ( Riyal) (TTM)	(0.20)
Book Value (BV) ( Riyal)	8.71
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	1.58
Return on Average Assets (%) (TTM)	(1.68 )
Return on Average Equity (%) (TTM)	(2.31 )

Knowledge Economic City (KEC)

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KEC reports a net profit of SAR 29m for the first nine months of 2014

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Knowledge Economic City (KEC)

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KEC reports a net profit of SAR 29m for the first nine months of 2014

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Knowledge Economic City (KEC)

Comments {{getCommentCount()}}

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