Knowledge Economic City posts SAR 22 mln losses in 2017

27/03/2018 Argaam Exclusive

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Knowledge Economic City incurred SAR 21.78 million in losses for the fiscal year 2017, versus net earnings of SAR 14.08 million 2016, driven by a steep decline in revenue.

 

Gross profit plunged 93.5 percent YoY to SAR 3.7 million last year.



Financials (M)

Item 2016 2017 Change‬
Revenues 105.31 23.88 (77.3 %)
Gross Income 57.44 5.45 (90.5 %)
Operating Income 14.54 (27.75) (290.8 %)
Net Income 14.01 (18.69) (233.4 %)
Average Shares 339.30 339.30 -
EPS (Riyals) 0.04 (0.06) (233.4 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2016 Q4 2017 Change‬
Revenues 65.86 2.58 (96.1 %)
Gross Income 40.98 5.17 (87.4 %)
Operating Income 24.25 1.37 (94.3 %)
Net Income 22.04 9.11 (58.7 %)
Average Shares 339.30 339.30 -
EPS (Riyals) 0.06 0.03 (58.7 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
Q3 2016 4.19 (40.6 %) (0.29) (110.4 %) (11.26) (10.7 %)
Q4 2016 65.86 587.0 % 40.98 5630.4 % 24.25 487.6 %
Q1 2017 8.69 61.9 % 1.69 600.6 % (8.07) (30.0 %)
Q2 2017 8.43 (71.8 %) 0.61 (96.4 %) (8.98) (215.7 %)
Q3 2017 4.18 (0.2 %) (2.03) (606.3 %) (12.07) (7.2 %)
Q4 2017 2.58 (96.1 %) 5.17 (87.4 %) 1.37 (94.3 %)
2017 23.88 (77.3 %) 5.45 (90.5 %) (27.75) (290.8 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q3 2016 (9.12) (58.8 %) (0.03) - (9.12) (0.03)
Q4 2016 22.04 906.7 % 0.06 - 22.04 0.06
Q1 2017 (6.90) 7.5 % (0.02) - (6.90) (0.02)
Q2 2017 (9.20) (207.6 %) (0.03) - (9.20) (0.03)
Q3 2017 (11.69) (28.1 %) (0.03) - (11.69) (0.03)
Q4 2017 9.11 (58.7 %) 0.03 12.26 (3.15) (0.01)
2017 (18.69) (233.4 %) (0.06) 12.26 (30.94) (0.09)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q3 2016 32.05 % (27.68 %) (11.91 %)
Q4 2016 54.54 % 16.00 % 13.30 %
Q1 2017 54.74 % 13.76 % 13.41 %
Q2 2017 49.32 % (2.04 %) (3.66 %)
Q3 2017 47.33 % (2.81 %) (6.60 %)
Q4 2017 22.81 % (105.79 %) (129.60 %)
2017 22.81 % (105.79 %) (129.60 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q3 2016 339.30 (0.02) (0.02) 9.26
Q4 2016 339.30 0.04 0.04 9.32
Q1 2017 339.30 0.04 0.04 9.30
Q2 2017 339.30 (0.01) (0.01) 9.27
Q3 2017 339.30 (0.02) (0.02) 9.24
Q4 2017 339.30 (0.06) (0.09) 9.26

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2016 NEG NEG 1.35
Q4 2016 More than 100 More than 100 1.94
Q1 2017 More than 100 More than 100 1.88
Q2 2017 NEG NEG 1.69
Q3 2017 NEG NEG 1.57
Q4 2017 NEG NEG 1.38

Business Segments (Million)

Compared With The
Period Real estate development Property management & consulting services Learning and training of operational staff Dicontinued operation
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 -
Q3 2016 0.27 2.00 1.91 -
Q4 2016 50.27 7.21 8.39 -
Q1 2017 0.27 3.28 5.14 -
Q2 2017 0.27 4.13 4.04 -
Q3 2017 0.27 2.80 1.10 -
Q4 2017 7.57 5.04 5.22 -

Current
Market Cap (M Riyal) 5,204.86
Enterprise Value (EV) (M) 6,250.36
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 1.75
Return on Average Assets (%) (TTM) (1.85 )
Return on Average Equity (%) (TTM) (2.45 )

Share Price

15.34
0.08 0.52 %

Knowledge Economic City (KEC)


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