Financial Results : KEC narrows losses in H1 to SAR 7 mln

KEC narrows losses in H1 to SAR 7 mln

28/07/2016 Argaam Exclusive

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Knowledge Economic City reported a net loss of SAR 7.4 million for the first half of 2016 compared to a loss of SAR 7.9 million in the same period last year. This time around, KEC recorded higher revenue from a land sale and higher income.



Financials (M)

Item 6m 2015 6m 2016 Change‬
Revenues 14.34 35.26 145.9 %
Gross Income 3.53 16.74 374.2 %
Operating Income (9.97) 1.55 115.6 %
Net Income (7.91) 1.10 113.8 %
Average Shares 339.30 339.30 -
EPS (Riyals) (0.02) 0.00 113.8 %

The company reported a net profit of SAR 227,639 in the second quarter compared to a loss of SAR 7.62 million in Q1, and a loss of SAR 3.11 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q2 2015 Q2 2016 Change‬
Revenues 10.23 29.90 192.4 %
Gross Income 4.27 17.08 299.9 %
Operating Income (2.53) 7.76 406.5 %
Net Income (3.11) 8.55 375.1 %
Average Shares 339.30 339.30 -
EPS (Riyals) (0.01) 0.03 375.1 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
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 %
Q1 2016 5.36 30.5 % (0.34) 54.3 % (6.21) 16.6 %
Q2 2016 29.90 192.4 % 17.08 299.9 % 7.76 406.5 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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)
Q3 2015 (5.74) (136.1 %) (0.02) - (5.74) (0.02)
Q4 2015 2.19 103.8 % 0.01 - 2.19 0.01
Q1 2016 (7.46) (55.1 %) (0.02) - (7.46) (0.02)
Q2 2016 8.55 375.1 % 0.03 - 8.55 0.03

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q3 2015 0.41 % (100.25 %) (130.94 %)
Q4 2015 17.89 % (77.46 %) (37.04 %)
Q1 2016 18.44 % (70.62 %) (43.82 %)
Q2 2016 36.14 % (23.94 %) (4.74 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q3 2015 339.30 (0.21) (0.12) 9.26
Q4 2015 339.30 (0.03) (0.03) 9.26
Q1 2016 339.30 (0.04) (0.04) 9.26
Q2 2016 339.30 (0.01) (0.01) 9.28

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2015 NEG NEG 1.80
Q4 2015 NEG NEG 1.67
Q1 2016 NEG NEG 1.47
Q2 2016 NEG NEG 1.56

Business Segments (Million)

Compared With The
Period Real estate development 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
Q1 2016 0.27 4.75 0.34
Q2 2016 19.63 8.19 2.08


Financial Ratios
Current
Market Cap (M Riyal) 4,851.99
Enterprise Value (EV) (M) 6,057.42
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 1.64
Return on Average Assets (%) (TTM) (1.68 )
Return on Average Equity (%) (TTM) (2.31 )
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Share Price

Knowledge Economic City
14.30
(0.02) (0.14 %)

Knowledge Economic City (KEC)

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