Knowledge City narrows losses to SAR 22.1 mln in 2021; Q4 losses at SAR 19.5 mln

24/03/2022 Argaam Exclusive

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Knowledge Economic City Co. (Knowledge City) narrowed net losses after Zakat and tax to SAR 22.1 million for 2021, from a loss of SAR 25.7 million logged a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	112.94	42.45	(62.4 %)
Gross Income	24.54	10.47	(57.3 %)
Operating Income	(16.26)	(46.13)	(183.8 %)
Net Income	(25.72)	(22.09)	14.1 %
Average Shares	339.30	339.30	-
EPS (Riyals)	(0.08)	(0.07)	14.1 %

The decline in losses followed a SAR 26 million rise in other income due to liquidation of a letter of guarantee belonging to one of the company’s contractors.

Knowledge City reported a net loss of SAR 19.5 million for Q4 2021, from a loss of SAR 3.5 million in Q4 2020.

On a sequential basis, the company widened its losses from SAR 2.5 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	20.58	8.94	(56.6 %)
Gross Income	6.45	1.80	(72.1 %)
Operating Income	(3.81)	(21.43)	(462.2 %)
Net Income	(3.51)	(19.51)	(456.1 %)
Average Shares	339.30	339.30	-
EPS (Riyals)	(0.01)	(0.06)	(456.1 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	1.50	8.94	498.1 %
Gross Income	0.08	1.80	2232.5 %
Operating Income	(12.25)	(21.43)	(75.0 %)
Net Income	(2.50)	(19.51)	(679.6 %)
Average Shares	339.30	339.30	-
EPS (Riyals)	(0.01)	(0.06)	(679.6 %)

Total shareholders’ equity, excluding minority interest, fell 0.7 % to SAR 3.076 billion from SAR 3.098 billion a year ago.

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