Kingdom Holding H1 2022 profit jumps to SAR 6.352 bln, Q2 at SAR 427.1 mln

Kingdom Holding H1 2022 profit jumps to SAR 6.352 bln, Q2 at SAR 427.1 mln

25/08/2022 Argaam Exclusive

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Kingdom Holding Co.’s (KHC) net profit after Zakat and tax surged to SAR 6.352 billion in the first half of 2022, from a profit of SAR 503.3 million in the prior-year period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 272.22 672.51 147.0 %
Gross Income 37.34 241.81 547.7 %
Operating Income (68.52) 22.18 132.4 %
Net Income 503.31 6,352.77 1162.2 %
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) 0.14 1.71 1162.2 %

The positive results were driven by gains on partial sale of equity accounted investee in the previous quarter, an increase in dividend income, and lower Zakat expenses. KHC also reported higher share in the results of equity-accounted investees, as well as better hotel and other operating revenues. 

 

KHC also noted a decrease in general, administrative and marketing expenses. 



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 167.91 354.20 111.0 %
Gross Income 44.19 123.30 179.0 %
Operating Income (5.98) 21.55 460.7 %
Net Income 412.25 427.15 3.6 %
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) 0.11 0.12 3.6 %

In Q2 2022, the net profit after Zakat and tax edged up 4% year-on-year (YoY) to SAR 427.1 million.

 

On a sequential basis, Q2 net profit plunged 92.8% from SAR 5.9 billion.

 

Shareholders’ equity, after minority interest, stood at SAR 32.593 billion as of June 30, 2022, compared to SAR 32.718 billion a year earlier. 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
Q4 2020 116.69 (74.0 %) 161.92 (15.7 %) (186.01) (346.0 %)
Q1 2021 104.32 (68.7 %) (6.85) (109.6 %) (62.55) (90.7 %)
Q2 2021 167.91 32.5 % 44.19 340.7 % (5.98) 93.2 %
Q3 2021 261.65 42.5 % 77.75 1064.7 % 9.86 115.8 %
Q4 2021 393.57 237.3 % 182.09 12.5 % (24.83) 86.7 %
Q1 2022 318.31 205.1 % 118.51 1829.4 % 0.63 101.0 %
Q2 2022 354.20 111.0 % 123.30 179.0 % 21.55 460.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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)
Q4 2020 (97.20) (629.3 %) (0.03) 266.03 (363.24) (0.10)
Q1 2021 91.06 281.7 % 0.02 - 91.06 0.02
Q2 2021 412.25 136.6 % 0.11 - 412.25 0.11
Q3 2021 108.69 156.4 % 0.03 - 108.69 0.03
Q4 2021 405.43 517.1 % 0.11 - 405.43 0.11
Q1 2022 5,925.62 6407.4 % 1.60 5,873.91 51.71 0.01
Q2 2022 427.15 3.6 % 0.12 - 427.15 0.12

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q4 2020 27.24 % (28.05 %) (162.11 %)
Q1 2021 24.21 % (47.45 %) (205.45 %)
Q2 2021 33.39 % (30.70 %) (9.20 %)
Q3 2021 42.58 % (20.35 %) 38.24 %
Q4 2021 32.04 % 4.64 % 109.70 %
Q1 2022 37.02 % 9.50 % 85.69 %
Q2 2022 37.78 % 10.97 % 74.79 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q4 2020 3,705.88 (0.40) (0.33) 8.31
Q1 2021 3,705.88 (0.36) (0.29) 8.73
Q2 2021 3,705.88 0.06 (0.01) 8.83
Q3 2021 3,705.88 0.14 0.07 8.77
Q4 2021 3,705.88 0.27 0.27 8.34
Q1 2022 3,705.88 1.85 0.26 8.93
Q2 2022 3,705.88 1.85 0.27 8.80

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q4 2020 NEG NEG 0.96
Q1 2021 NEG NEG 0.92
Q2 2021 More than 100 NEG 1.18
Q3 2021 77.17 More than 100 1.22
Q4 2021 36.79 36.79 1.21
Q1 2022 5.38 37.70 1.11
Q2 2022 4.97 34.34 1.05

Business Segments (Million)

Compared With The
Period Intellectual Property Investments Operating Hotels Real Estate Other segments Health Care Sector
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
Q1 2021 70.57 18.49 69.24 16.58 -
Q2 2021 253.55 71.40 80.51 15.99 -
Q3 2021 76.63 187.16 59.35 15.14 -
Q4 2021 180.16 249.88 128.70 15.00 -
Q1 2022 131.73 171.64 128.39 18.28 -
Q2 2022 415.28 237.23 98.61 18.36 -


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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