KEC narrows losses by 60% to SAR 11 mln in FY15
20/01/2016
Argaam Exclusive
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Knowledge Economic City (KEC) reported a net loss of SAR 11.3 million for the 2015 fiscal year. The company narrowed its losses by 60 percent year-on-year (YOY) due to a writedown in infrastructure costs during the previous year.
Financials (M)
| Item | 2014 | 2015 | Change |
|---|---|---|---|
| Revenues | 72.76 | 30.97 | (57.4 %) |
| Gross Income | 10.19 | 5.54 | (45.6 %) |
| Operating Income | (17.58) | (26.40) | (50.2 %) |
| Net Income | (28.18) | (11.47) | 59.3 % |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | (0.08) | (0.03) | 59.3 % |
The company swung to a net profit of SAR 2.4 million in the fourth quarter of 2015, compared to a net loss of SAR 57 million in the same period in 2014.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2014 | Q4 2015 | Change |
|---|---|---|---|
| Revenues | 10.82 | 9.59 | (11.4 %) |
| Gross Income | (6.15) | (0.74) | 87.9 % |
| Operating Income | (14.63) | (6.26) | 57.2 % |
| Net Income | (57.15) | 2.19 | 103.8 % |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | (0.17) | 0.01 | 103.8 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2015 | 4.11 | (81.0 %) | (0.74) | (116.4 %) | (7.44) | (320.6 %) |
| Q2 2015 | 10.23 | (62.9 %) | 4.27 | (44.1 %) | (2.53) | (559.3 %) |
| Q3 2015 | 7.04 | (44.6 %) | 2.75 | (34.4 %) | (10.17) | (488.0 %) |
| Q4 2015 | 9.59 | (11.4 %) | (0.74) | 87.9 % | (6.26) | 57.2 % |
| 2015 | 30.97 | (57.4 %) | 5.54 | (45.6 %) | (26.40) | (50.2 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2015 | (4.81) | (93.2 %) | (0.01) | - | (4.81) | (0.01) |
| Q2 2015 | (3.11) | (120.0 %) | (0.01) | - | (3.11) | (0.01) |
| Q3 2015 | (5.74) | (136.1 %) | (0.02) | - | (5.74) | (0.02) |
| Q4 2015 | 2.19 | 103.8 % | 0.01 | - | 2.19 | 0.01 |
| 2015 | (11.47) | 59.3 % | (0.03) | - | (11.47) | (0.03) |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2015 | 8.96 % | (37.39 %) | (3.34 %) |
| Q2 2015 | 4.16 % | (62.92 %) | (54.09 %) |
| Q3 2015 | 0.41 % | (100.25 %) | (130.94 %) |
| Q4 2015 | 17.89 % | (77.46 %) | (37.04 %) |
| 2015 | 17.89 % | (77.46 %) | (37.04 %) |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2015 | 339.30 | (0.09) | (0.01) | 9.28 |
| Q2 2015 | 339.30 | (0.14) | (0.06) | 9.27 |
| Q3 2015 | 339.30 | (0.21) | (0.12) | 9.26 |
| Q4 2015 | 339.30 | (0.03) | (0.03) | 9.26 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2015 | NEG | NEG | 2.47 |
| Q2 2015 | NEG | NEG | 2.94 |
| Q3 2015 | NEG | NEG | 1.80 |
| Q4 2015 | NEG | NEG | 1.67 |
Business Segments (Million)
Q4 2015
| Period | Property management & consulting services | Learning and training of operational staff |
|---|---|---|
| Q2 2015 | 4.96 | 5.27 |
| Q3 2015 | 4.63 | 2.41 |
| Q4 2015 | 7.84 | 1.74 |
| Current | |
| Market Cap (M Riyal) | 4,736.63 |
| Enterprise Value (EV) (M) | 5,942.06 |
| 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 | 1.60 |
| Return on Average Assets (%) (TTM) | (1.68 ) |
| Return on Average Equity (%) (TTM) | (2.31 ) |
Share Price
Knowledge Economic City (KEC)
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