Kingdom Holding H1 2024 profit up 76% to SAR 820.4M; Q2 at SAR 624.2M

07/08/2024 Argaam Exclusive
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Kingdom Holding Co. (KHC) reported a net profit of SAR 820.4 million in H1 2024, a 76% jump from SAR 465 million in a year-earlier period on higher profit share from equity-accounted investees, higher gains on sale of investment property, a decrease in financial charges and an increase in finance income.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 765.13 758.90 (0.8 %)
Gross Income 275.94 264.79 (4.0 %)
Operating Income 42.77 17.05 (60.1 %)
Net Income 465.00 820.39 76.4 %
Average Shares 3,705.88 3,705.88 -
Earnings Per Share before unusual items 0.13 0.19 49.9 %
EPS (Riyals) 0.13 0.22 76.4 %

The company reported a higher profit share from equity-accounted investees and decreased financial charges, in addition to a decrease in the income tax and an increase in other gains. This came despite lower dividend income, decreased finance income, and an increase in general, administrative and marketing expenses, as well as lower hotels and other operating costs.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 404.25 400.98 (0.8 %)
Gross Income 159.44 155.49 (2.5 %)
Operating Income 45.34 39.91 (12.0 %)
Net Income 293.93 624.20 112.4 %
Average Shares 3,705.88 3,705.88 -
Earnings Per Share before unusual items 0.08 0.17 112.4 %
EPS (Riyals) 0.08 0.17 112.4 %

On a quarterly basis, Q2 2024 net earnings increased by over two-fold from SAR 196.19 million in Q1 2024.

 

Total shareholders’ equity (after deducting minority equity) reached SAR 36.01 billion by June 30, 2024, compared to SAR 31.29 billion in the corresponding period of the year before.

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Share Price

Kingdom Holding Co.
8.22
0.12 1.48 %

Kingdom Holding Co. (KINGDOM)

1 Day 1.48 % 5 Days 4.31 % 3 Months (8.05 %) 6 Months (20.50 %) Year 11.84 % 2 Years 4.85 % 5 Years 37.00 % All (57.59 %)
Created with Highstock 6.0.710:1010:2010:3010:4010:5011:0011:1011:2011:3012:0012:1012:3012:5013:1013:2013:3013:4013:5014:0014:1014:3014:4014:5015:108.0258.058.0758.18.1258.158.1758.28.2258.25
Close : 8.22 | Mar 27, 15:17
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Financial Ratios
Current
Market Cap (M Riyal) 30,462.35
Enterprise Value (EV) (M) 41,752.42
Shares Outstanding ((M)) 3,705.88
EPS ( Riyal) (TTM) 0.33
Book Value (BV) ( Riyal) 10.51
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 33.35
P/E (TTM) 24.63
Price/book 0.78
Return on Average Assets (%) (TTM) 2.3
Return on Average Equity (%) (TTM) 2.7
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