Financial Results : Knowledge Economic City posts SAR 7.9 mln net loss in H1

Knowledge Economic City posts SAR 7.9 mln net loss in H1

27/07/2015 Argaam Exclusive

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Knowledge Economic City (KEC) reported a net loss of SAR 7.9 million for the first half of 2015, compared to a SAR 13 million net profit recorded in the same period last year.



Financials (M)

Item 6m 2014 6m 2015 Change‬
Revenues 49.23 14.34 (70.9 %)
Gross Income 12.15 3.53 (70.9 %)
Operating Income (1.22) (9.97) (718.6 %)
Net Income 13.04 (7.91) (160.7 %)
Average Shares 339.30 339.30 -
EPS (Riyals) 0.04 (0.02) (160.7 %)

 

Losses during the period were mainly attributed to a profit margin drop when compared to H1-2014 and lower profits generated from the sale of land.



Current Quarter Comparison (M)

Compared With The
Item Q2 2014 Q2 2015 Change‬
Revenues 27.56 10.23 (62.9 %)
Gross Income 7.64 4.27 (44.1 %)
Operating Income 0.55 (2.53) (559.3 %)
Net Income 15.53 (3.11) (120.0 %)
Average Shares 339.30 339.30 -
EPS (Riyals) 0.05 (0.01) (120.0 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 86.22 - 63.38 - 50.51 -
Q2 2011 - - - - (12.78) -
Q3 2011 - - - - (12.02) -
Q4 2011 7.72 - 3.13 - (5.67) -
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 %)
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 %
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 %)
Q4 2014 10.82 147.3 % (6.15) (1,740.7 %) (14.63) (127.7 %)
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 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 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)
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)
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
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
Q4 2014 (57.15) (730.3 %) (0.17) (28.65) (28.50) (0.08)
Q1 2015 (4.81) (93.2 %) (0.01) - (4.81) (0.01)
Q2 2015 (3.11) (120.0 %) (0.01) - (3.11) (0.01)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 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 %)
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 %)
Q1 2014 23.79 % (22.71 %) 9.81 %
Q2 2014 23.35 % (7.42 %) 32.85 %
Q3 2014 24.13 % (9.99 %) 57.36 %
Q4 2014 14.01 % (20.36 %) 0.65 %
Q1 2015 8.96 % (37.39 %) (3.34 %)
Q2 2015 4.16 % (62.92 %) (54.09 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q4 2014 339.30 (0.08) 0.00 9.30
Q1 2015 339.30 (0.09) (0.01) 9.28
Q2 2015 339.30 (0.14) (0.06) 9.27

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q4 2014 NEG More than 100 1.82
Q1 2015 NEG NEG 2.47
Q2 2015 NEG NEG 2.94

Business Segments (Million)

Compared With The
Period Property management & consulting services Learning and training of operational staff
Q2 2015 4.96 5.27


Financial Ratios
Current
Market Cap (M Riyal) 5,055.57
Enterprise Value (EV) (M) 6,101.07
Shares Outstanding ((M)) 339.30
EPS ( Riyal) (TTM) (0.22)
Book Value (BV) ( Riyal) 8.77
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.70
Return on Average Assets (%) (TTM) (1.85 )
Return on Average Equity (%) (TTM) (2.45 )
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Share Price

Knowledge Economic City
14.90
(0.58) (3.75 %)

Knowledge Economic City (KEC)

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