Kingdom Holding turns to SAR 1.369 bln loss in 9M 2020

Kingdom Holding turns to SAR 1.369 bln loss in 9M 2020

11/11/2020 Argaam Exclusive

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Kingdom Holding Co. posted a net loss after Zakat and tax of SAR 1.369 billion in the first nine months of 2020, compared to a profit of SAR 401.8 million in the same period last year.

 

The decline was attributed to lower share of results from equity-accounted investees along with decrease in hotels and other operating revenues. In addition, the company also noted an increase in other losses and higher zakat expenses.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 1,257.06 643.82 (48.8 %)
Gross Income 404.50 45.27 (88.8 %)
Operating Income 26.79 (183.53) (785.1 %)
Net Income 401.81 (1369.60) (440.9 %)
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) 0.11 (0.37) (440.9 %)

The firm also turned to a loss of SAR 192.7 million in Q3 2020, versus a profit of SAR 86.8 million the year-earlier period.

 

On a sequential basis, Kingdom Holding narrowed its loss by 91.3% in Q3 2020.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 432.36 183.66 (57.5 %)
Gross Income 118.74 (8.06) (106.8 %)
Operating Income 62.89 (62.46) (199.3 %)
Net Income 86.80 (192.73) (322.0 %)
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) 0.02 (0.05) (322.0 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2011 547.15 (45.0 %) 191.47 (17.6 %) 7.41 118.3 %
Q2 2011 541.82 3.7 % 155.84 (26.1 %) 6.82 (91.7 %)
Q3 2011 515.03 (0.8 %) 167.05 8.4 % (13.66) 19.5 %
Q4 2011 525.71 (23.8 %) 134.41 (37.8 %) (18.08) (130.2 %)
Q1 2012 484.00 (11.5 %) 151.52 (20.9 %) 7.87 6.1 %
Q2 2012 486.97 (10.1 %) 144.16 (7.5 %) 13.61 99.5 %
Q3 2012 482.04 (6.4 %) 152.37 (8.8 %) (6.67) 51.2 %
Q4 2012 496.31 (5.6 %) 152.45 13.4 % 3.33 118.4 %
Q1 2013 496.18 2.5 % 165.41 9.2 % (0.75) (109.5 %)
Q2 2013 542.87 11.5 % 190.70 32.3 % 23.42 72.1 %
Q3 2013 489.54 1.6 % 163.50 7.3 % 14.38 315.7 %
Q4 2013 480.17 (3.3 %) 167.77 10.1 % (40.23) (1308.3 %)
Q1 2014 512.95 3.4 % 180.51 9.1 % 22.36 3089.3 %
Q2 2014 586.03 7.9 % 220.34 15.5 % 55.07 135.1 %
Q3 2014 475.57 (2.9 %) 156.82 (4.1 %) 7.84 (45.5 %)
Q4 2014 553.95 15.4 % 171.75 2.4 % (17.67) 56.1 %
Q1 2015 453.29 (11.6 %) 132.44 (26.6 %) (11.48) (151.3 %)
Q2 2015 502.82 (14.2 %) 166.81 (24.3 %) 25.94 (52.9 %)
Q3 2015 481.76 1.3 % 176.13 12.3 % 16.66 112.6 %
Q4 2015 441.89 (20.2 %) 150.54 (12.4 %) 10.21 157.8 %
Q1 2016 462.92 2.1 % 96.92 (26.8 %) 38.00 430.9 %
Q2 2016 432.99 (13.9 %) 105.97 (36.5 %) 9.77 (62.3 %)
Q3 2016 427.27 (11.3 %) 86.94 (50.6 %) 2.31 (86.2 %)
Q4 2016 481.14 8.9 % 88.04 (41.5 %) 7.93 (22.3 %)
Q1 2017 387.79 (16.2 %) 80.67 (16.8 %) 16.48 (56.6 %)
Q2 2017 445.29 2.8 % 109.25 3.1 % 8.82 (9.7 %)
Q3 2017 512.41 19.9 % 137.94 58.7 % (107.44) (4761.2 %)
Q4 2017 385.00 (20.0 %) 120.39 36.7 % (23.42) (395.2 %)
Q1 2018 475.50 22.6 % 124.22 54.0 % 50.73 207.9 %
Q2 2018 487.44 9.5 % 121.18 10.9 % (63.38) (818.3 %)
Q3 2018 433.24 (15.5 %) 152.44 10.5 % 45.22 142.1 %
Q4 2018 547.74 42.3 % 203.76 69.3 % 183.41 883.2 %
Q1 2019 411.67 (13.4 %) 109.64 (11.7 %) (72.75) (243.4 %)
Q2 2019 413.03 (15.3 %) 176.13 45.3 % 36.65 157.8 %
Q3 2019 432.36 (0.2 %) 118.74 (22.1 %) 62.89 39.1 %
Q4 2019 449.64 (17.9 %) 192.14 (5.7 %) 75.61 (58.8 %)
Q1 2020 333.47 (19.0 %) 71.69 (34.6 %) (32.81) 54.9 %
Q2 2020 126.69 (69.3 %) (18.36) (110.4 %) (88.27) (340.8 %)
Q3 2020 183.66 (57.5 %) (8.06) (106.8 %) (62.46) (199.3 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2011 90.64 20.5 % 0.02 - 90.64 0.02
Q2 2011 163.47 20.7 % 0.04 - 163.47 0.04
Q3 2011 197.68 23.5 % 0.05 - 197.68 0.05
Q4 2011 187.82 (19.9 %) 0.05 - 187.82 0.05
Q1 2012 100.80 11.2 % 0.03 - 100.80 0.03
Q2 2012 178.91 9.4 % 0.05 - 178.91 0.05
Q3 2012 217.76 10.2 % 0.06 - 217.76 0.06
Q4 2012 209.60 11.6 % 0.06 - 209.60 0.06
Q1 2013 110.09 9.2 % 0.03 - 110.09 0.03
Q2 2013 181.20 1.3 % 0.05 - 181.20 0.05
Q3 2013 219.94 1.0 % 0.06 - 219.94 0.06
Q4 2013 231.24 10.3 % 0.06 - 231.24 0.06
Q1 2014 126.39 14.8 % 0.03 - 126.39 0.03
Q2 2014 211.68 16.8 % 0.06 - 211.68 0.06
Q3 2014 265.00 20.5 % 0.07 - 265.00 0.07
Q4 2014 266.00 15.0 % 0.07 - 266.00 0.07
Q1 2015 139.38 10.3 % 0.04 - 139.38 0.04
Q2 2015 238.30 12.6 % 0.06 - 238.30 0.06
Q3 2015 291.55 10.0 % 0.08 - 291.55 0.08
Q4 2015 37.91 (85.7 %) 0.01 (370.00) 407.91 0.11
Q1 2016 114.52 (17.8 %) 0.03 - 114.52 0.03
Q2 2016 (79.98) (133.6 %) (0.02) - (79.98) (0.02)
Q3 2016 (354.96) (221.7 %) (0.10) (233.78) (121.18) (0.03)
Q4 2016 (29.56) (178.0 %) (0.01) - (29.56) (0.01)
Q1 2017 129.09 12.7 % 0.03 234.83 (105.74) (0.03)
Q2 2017 216.30 370.5 % 0.06 203.58 12.72 0.00
Q3 2017 247.54 169.7 % 0.07 529.96 (282.42) (0.08)
Q4 2017 70.63 338.9 % 0.02 - 70.63 0.02
Q1 2018 143.04 10.8 % 0.04 (63.75) 206.79 0.06
Q2 2018 242.67 12.2 % 0.07 (375.67) 618.34 0.17
Q3 2018 248.55 0.4 % 0.07 196.37 52.18 0.01
Q4 2018 47.37 (32.9 %) 0.01 (88.43) 135.80 0.04
Q1 2019 244.16 70.7 % 0.07 (122.84) 367.00 0.10
Q2 2019 143.60 (40.8 %) 0.04 (14.60) 158.20 0.04
Q3 2019 86.80 (65.1 %) 0.02 80.00 6.80 0.00
Q4 2019 18.36 (61.2 %) 0.00 (42.70) 61.06 0.02
Q1 2020 (50.11) (120.5 %) (0.01) - (50.11) (0.01)
Q2 2020 (1126.76) (884.7 %) (0.30) (500.00) (626.76) (0.17)
Q3 2020 (192.73) (322.0 %) (0.05) - (192.73) (0.05)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 33.89 % 15.57 % 27.23 %
Q2 2011 31.21 % 12.65 % 28.23 %
Q3 2011 31.84 % 12.80 % 29.92 %
Q4 2011 30.46 % 10.22 % 30.03 %
Q1 2012 29.46 % 10.26 % 31.44 %
Q2 2012 29.68 % 10.65 % 33.07 %
Q3 2012 29.44 % 10.80 % 34.63 %
Q4 2012 30.81 % 12.26 % 36.27 %
Q1 2013 31.32 % 11.75 % 36.52 %
Q2 2013 32.76 % 11.99 % 35.62 %
Q3 2013 33.19 % 13.36 % 35.60 %
Q4 2013 34.22 % 11.57 % 36.96 %
Q1 2014 34.68 % 12.76 % 37.46 %
Q2 2014 35.39 % 13.99 % 38.15 %
Q3 2014 35.31 % 13.80 % 40.60 %
Q4 2014 34.27 % 15.41 % 40.83 %
Q1 2015 32.93 % 13.70 % 42.64 %
Q2 2015 31.62 % 12.55 % 45.76 %
Q3 2015 32.49 % 12.25 % 46.95 %
Q4 2015 33.30 % 11.72 % 57.30 %
Q1 2016 31.25 % 14.08 % 55.69 %
Q2 2016 29.10 % 13.44 % 40.34 %
Q3 2016 24.95 % 13.80 % 18.20 %
Q4 2016 20.94 % 14.93 % (6.44 %)
Q1 2017 20.91 % 15.20 % (19.46 %)
Q2 2017 20.95 % 17.89 % (14.00 %)
Q3 2017 22.77 % 10.40 % (22.17 %)
Q4 2017 25.90 % 5.55 % (17.61 %)
Q1 2018 27.05 % 8.13 % 0.43 %
Q2 2018 27.08 % 0.43 % 32.97 %
Q3 2018 29.09 % 9.86 % 53.22 %
Q4 2018 30.95 % 23.44 % 52.12 %
Q1 2019 31.22 % 17.56 % 62.41 %
Q2 2019 35.55 % 23.30 % 39.50 %
Q3 2019 33.70 % 23.13 % 37.00 %
Q4 2019 34.96 % 16.08 % 34.75 %
Q1 2020 34.31 % 17.21 % 10.80 %
Q2 2020 27.14 % 13.20 % (45.38 %)
Q3 2020 21.71 % 6.54 % (73.94 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2011 3,705.88 0.17 0.17 7.26
Q2 2011 3,705.88 0.18 0.18 7.26
Q3 2011 3,705.88 0.19 0.19 6.62
Q4 2011 3,705.88 0.17 0.17 6.87
Q1 2012 3,705.88 0.18 0.18 7.19
Q2 2012 3,705.88 0.18 0.18 6.98
Q3 2012 3,705.88 0.18 0.18 7.32
Q4 2012 3,705.88 0.19 0.19 7.61
Q1 2013 3,705.88 0.19 0.19 7.88
Q2 2013 3,705.88 0.19 0.19 8.05
Q3 2013 3,705.88 0.19 0.19 8.28
Q4 2013 3,705.88 0.20 0.20 8.53
Q1 2014 3,705.88 0.20 0.20 8.08
Q2 2014 3,705.88 0.21 0.21 8.55
Q3 2014 3,705.88 0.23 0.23 8.71
Q4 2014 3,705.88 0.23 0.23 8.70
Q1 2015 3,705.88 0.24 0.24 8.32
Q2 2015 3,705.88 0.25 0.25 8.40
Q3 2015 3,705.88 0.25 0.25 7.76
Q4 2015 3,705.88 0.19 0.29 7.72
Q1 2016 3,705.88 0.18 0.28 7.15
Q2 2016 3,705.88 0.10 0.20 7.15
Q3 2016 3,705.88 (0.08) 0.09 7.32
Q4 2016 3,705.88 (0.09) (0.03) 7.62
Q1 2017 3,705.88 (0.09) (0.09) 7.73
Q2 2017 3,705.88 (0.01) (0.07) 8.00
Q3 2017 3,705.88 0.15 (0.11) 8.30
Q4 2017 3,705.88 0.18 (0.08) 8.51
Q1 2018 3,705.88 0.18 0.00 8.29
Q2 2018 3,705.88 0.19 0.17 8.37
Q3 2018 3,705.88 0.19 0.26 8.32
Q4 2018 3,705.88 0.18 0.27 7.54
Q1 2019 3,705.88 0.21 0.32 7.91
Q2 2019 3,705.88 0.18 0.19 8.18
Q3 2019 3,705.88 0.14 0.18 8.12
Q4 2019 3,705.88 0.13 0.16 8.49
Q1 2020 3,705.88 0.05 0.05 7.12
Q2 2020 3,705.88 (0.29) (0.16) 7.42
Q3 2020 3,705.88 (0.36) (0.22) 7.36

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 54.33 54.33 1.25
Q2 2011 45.70 45.70 1.10
Q3 2011 40.49 40.49 1.13
Q4 2011 51.28 51.28 1.29
Q1 2012 71.01 71.01 1.73
Q2 2012 67.41 67.41 1.73
Q3 2012 78.14 78.14 1.97
Q4 2012 More than 100 More than 100 2.75
Q1 2013 86.91 86.91 2.13
Q2 2013 94.88 94.88 2.28
Q3 2013 97.68 97.68 2.30
Q4 2013 More than 100 More than 100 2.87
Q1 2014 More than 100 More than 100 2.78
Q2 2014 More than 100 More than 100 2.82
Q3 2014 More than 100 More than 100 2.74
Q4 2014 77.18 77.18 2.08
Q1 2015 85.20 85.20 2.44
Q2 2015 89.56 89.56 2.61
Q3 2015 71.37 71.37 2.32
Q4 2015 82.80 54.36 2.05
Q1 2016 64.91 42.08 1.67
Q2 2016 More than 100 56.09 1.55
Q3 2016 NEG More than 100 1.40
Q4 2016 NEG NEG 1.58
Q1 2017 NEG NEG 1.39
Q2 2017 NEG NEG 1.23
Q3 2017 69.20 NEG 1.27
Q4 2017 49.93 NEG 1.05
Q1 2018 49.34 More than 100 1.09
Q2 2018 45.86 52.63 1.04
Q3 2018 45.21 33.62 1.03
Q4 2018 42.41 28.53 1.03
Q1 2019 41.43 27.64 1.11
Q2 2019 42.28 40.53 0.95
Q3 2019 55.45 43.34 0.96
Q4 2019 56.76 47.18 0.89
Q1 2020 More than 100 More than 100 0.89
Q2 2020 NEG NEG 0.92
Q3 2020 NEG NEG 1.12

Business Segments (Million)

Compared With The
Period Intellectual Property Investments Operating Hotels Real Estate Other segments Health Care Sector
Q1 2011 44.64 372.31 397.86 - -
Q2 2011 109.52 406.07 302.92 - -
Q3 2011 431.33 515.72 (113.89) - -
Q4 2011 (576.77) 485.75 826.83 - -
Q1 2012 165.79 302.46 592.00 - -
Q2 2012 30.75 394.87 232.61 - -
Q3 2012 132.65 406.97 293.14 - -
Q4 2012 95.47 399.53 431.09 - -
Q1 2013 200.23 323.73 141.21 - -
Q2 2013 181.82 464.51 151.02 - -
Q3 2013 297.94 362.03 126.36 - -
Q4 2013 167.67 369.87 346.41 - -
Q1 2014 295.66 291.02 154.43 - -
Q2 2014 279.22 436.26 181.46 - -
Q3 2014 169.73 499.83 143.34 - -
Q4 2014 298.68 475.93 172.32 - -
Q1 2015 242.57 252.61 219.81 - -
Q2 2015 235.31 395.99 199.26 - -
Q3 2015 362.25 379.66 123.24 - -
Q4 2015 498.17 286.48 296.75 - -
Q1 2016 173.06 316.21 - 39.04 112.17
Q2 2016 35.28 295.41 - 29.28 103.81
Q3 2016 - 358.23 - 31.56 37.47
Q4 2016 (481.32) 365.49 - 22.76 94.56
Q1 2017 274.13 279.17 - 25.24 83.38
Q2 2017 94.89 324.40 16.31 24.39 80.19
Q3 2017 37.97 326.63 88.72 22.14 74.93
Q4 2017 218.51 144.28 130.79 22.80 87.14
Q1 2018 37.55 255.51 119.19 23.60 77.20
Q2 2018 344.50 279.09 113.05 24.42 70.89
Q3 2018 48.36 239.32 98.14 24.33 71.45
Q4 2018 212.81 333.14 115.31 22.59 76.70
Q1 2019 517.42 204.55 111.65 21.13 74.34
Q2 2019 50.53 206.14 112.24 21.00 73.65
Q3 2019 (384.77) 255.13 85.94 24.22 67.07
Q1 2020 57.29 150.58 98.81 20.48 70.78
Q2 2020 94.98 2.09 53.86 13.36 50.15
Q3 2020 116.71 9.99 56.50 27.64 89.60


Financial Ratios
Current
Market Cap (M Riyal) 34,872.35
Enterprise Value (EV) (M) 47,889.89
Shares Outstanding ((M)) 3,705.88
EPS ( Riyal) (TTM) 0.36
Book Value (BV) ( Riyal) 10.13
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 32.88
P/E (TTM) 26.33
Price/book 0.93
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 3.9
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Share Price

Kingdom Holding Co.
9.41
(0.19) (1.98 %)

Kingdom Holding Co. (KINGDOM)

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