KEC trims net loss to SAR 71,000 in H1 2021

22/08/2021 Argaam Exclusive

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Knowledge Economic City (KEC) narrowed net loss after Zakat and tax to SAR 71,000 in H1 2021, compared to SAR 7.1 million in prior-year period, driven by higher other income, offset by decreased gross profit.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	82.46	32.02	(61.2 %)
Gross Income	16.97	8.60	(49.3 %)
Operating Income	(2.82)	(12.46)	(342.2 %)
Net Income	(7.08)	(0.07)	99.0 %
Average Shares	339.30	339.30	-
EPS (Riyals)	(0.02)	0.00	99.0 %

KEC reported net profit after Zakat and tax of SAR 4.7 million in Q2 2021, versus net loss of SAR 324,000 in year-earlier period, on higher other income due to liquidating a letter of guarantee at SAR 15.5 million.

On a quarterly basis, the company swung to profit in Q2 2021, versus net loss of SAR 4.75 million in Q1 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	58.99	7.39	(87.5 %)
Gross Income	12.89	2.03	(84.3 %)
Operating Income	3.53	(9.18)	(359.9 %)
Net Income	(0.32)	4.69	1546.0 %
Average Shares	339.30	339.30	-
EPS (Riyals)	0.00	0.01	1546.0 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	24.63	7.39	(70.0 %)
Gross Income	6.57	2.03	(69.2 %)
Operating Income	(3.28)	(9.18)	(180.0 %)
Net Income	(4.76)	4.69	198.5 %
Average Shares	339.30	339.30	-
EPS (Riyals)	(0.01)	0.01	198.5 %

View more financial results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2012	4.02	(95.3 %)	1.79	(97.2 %)	(8.33)	(141.3 %)	(0.02)
Q2 2012	26.52	-	16.79	-	(0.78)	91.6 %	0.00
Q3 2012	57.04	-	40.04	-	9.69	197.3 %	0.03
Q4 2012	5.00	(35.2 %)	(1.68)	(153.7 %)	(26.63)	(164.1 %)	(0.08)
2012	92.58	(1.4 %)	56.94	(14.4 %)	(26.05)	(185.4 %)	(0.08)
Q1 2013	5.99	49.0 %	2.56	43.1 %	(8.14)	2.3 %	(0.02)
Q2 2013	8.88	(66.5 %)	3.52	(79.0 %)	(3.02)	(287.3 %)	(0.01)
Q3 2013	18.92	(66.8 %)	5.12	(87.2 %)	1.72	(82.3 %)	0.01
Q4 2013	4.38	(12.6 %)	(0.33)	80.1 %	9.07	134.1 %	0.03
2013	38.16	(58.8 %)	10.87	(80.9 %)	(0.37)	98.6 %	0.00
Q1 2014	21.67	261.7 %	4.51	75.8 %	(2.49)	69.4 %	(0.01)
Q2 2014	27.56	210.4 %	7.64	117.2 %	15.53	614.7 %	0.05
Q3 2014	12.72	(32.8 %)	4.19	(18.1 %)	15.93	826.8 %	0.05
Q4 2014	10.82	147.3 %	(6.15)	(1,740.7 %)	(57.15)	(730.3 %)	(0.17)
2014	72.76	90.7 %	10.19	(6.2 %)	(28.18)	(7,453.6 %)	(0.08)
Q1 2015	4.11	(81.0 %)	(0.74)	(116.4 %)	(4.81)	(93.2 %)	(0.01)
Q2 2015	10.23	(62.9 %)	4.27	(44.1 %)	(3.11)	(120.0 %)	(0.01)
Q3 2015	7.04	(44.6 %)	2.75	(34.4 %)	(5.74)	(136.1 %)	(0.02)
Q4 2015	9.59	(11.4 %)	(0.74)	87.9 %	2.19	103.8 %	0.01
2015	30.97	(57.4 %)	5.54	(45.6 %)	(11.47)	59.3 %	(0.03)
Q1 2016	5.36	30.5 %	(0.34)	54.3 %	(7.46)	(55.1 %)	(0.02)
Q2 2016	29.90	192.4 %	17.08	299.9 %	8.55	375.1 %	0.03
Q3 2016	4.19	(40.6 %)	(0.29)	(110.4 %)	(9.12)	(58.8 %)	(0.03)
Q4 2016	65.86	587.0 %	40.98	5630.4 %	22.04	906.7 %	0.06
2016	105.31	240.1 %	57.44	936.8 %	14.01	222.1 %	0.04
Q1 2017	8.69	61.9 %	1.69	600.6 %	(6.90)	7.5 %	(0.02)
Q2 2017	8.43	(71.8 %)	0.61	(96.4 %)	(9.20)	(207.6 %)	(0.03)
Q3 2017	4.18	(0.2 %)	(2.03)	(606.3 %)	(11.69)	(28.1 %)	(0.03)
Q4 2017	2.58	(96.1 %)	5.17	(87.4 %)	9.11	(58.7 %)	0.03
2017	23.88	(77.3 %)	5.45	(90.5 %)	(18.69)	(233.4 %)	(0.06)
Q1 2018	7.26	(16.4 %)	(0.91)	(153.8 %)	(13.48)	(95.4 %)	(0.04)
Q2 2018	15.64	85.4 %	2.64	334.5 %	(8.86)	3.7 %	(0.03)
Q3 2018	14.77	253.7 %	2.94	245.0 %	(12.47)	(6.7 %)	(0.04)
Q4 2018	33.46	1196.2 %	8.59	66.1 %	(3.14)	(134.5 %)	(0.01)
2018	71.12	197.9 %	13.26	143.5 %	(37.95)	(103.1 %)	(0.11)
Q1 2019	82.14	1031.5 %	30.01	3393.7 %	19.56	245.1 %	0.06
Q2 2019	27.75	77.5 %	6.34	139.9 %	5.48	161.9 %	0.02
Q3 2019	17.16	16.2 %	4.72	60.7 %	(5.43)	56.4 %	(0.02)
Q4 2019	26.58	(20.5 %)	4.35	(49.4 %)	(1.45)	53.8 %	0.00
2019	151.76	113.4 %	46.36	249.6 %	18.16	147.9 %	0.05
Q1 2020	23.19	(71.8 %)	5.06	(83.1 %)	(6.76)	(134.5 %)	(0.02)
Q2 2020	58.99	112.6 %	12.89	103.3 %	(0.32)	(105.9 %)	0.00
Q3 2020	9.90	(42.3 %)	1.12	(76.3 %)	(15.14)	(178.7 %)	(0.04)
Q4 2020	20.58	(22.6 %)	6.45	48.2 %	(3.51)	(142.0 %)	(0.01)
2020	112.94	(25.6 %)	24.54	(47.1 %)	(25.72)	(241.6 %)	(0.08)
Q1 2021	24.63	6.2 %	6.57	29.9 %	(4.76)	29.6 %	(0.01)
Q2 2021	7.39	(87.5 %)	2.03	(84.3 %)	4.69	1546.0 %	0.01

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2011	93.94	-	66.50	-	(9.13)	93.7 %	(0.03)
2012	92.58	(1.4 %)	56.94	(14.4 %)	(26.05)	(185.4 %)	(0.08)
2013	38.16	(58.8 %)	10.87	(80.9 %)	(0.37)	98.6 %	0.00
2014	72.76	90.7 %	10.19	(6.2 %)	(28.18)	(7,453.6 %)	(0.08)
2015	30.97	(57.4 %)	5.54	(45.6 %)	(11.47)	59.3 %	(0.03)
2016	105.31	240.1 %	57.44	936.8 %	14.01	222.1 %	0.04
2017	23.88	(77.3 %)	5.45	(90.5 %)	(18.69)	(233.4 %)	(0.06)
2018	71.12	197.9 %	13.26	143.5 %	(37.95)	(103.1 %)	(0.11)
2019	151.76	113.4 %	46.36	249.6 %	18.16	147.9 %	0.05
2020	112.94	(25.6 %)	24.54	(47.1 %)	(25.72)	(241.6 %)	(0.08)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %)
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 %)
2013	28.47 %	(43.37 %)	(0.98 %)
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 %
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 %)
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 %
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 %)
Q1 2018	12.66 %	(133.23 %)	(167.16 %)
Q2 2018	16.45 %	(95.93 %)	(125.40 %)
Q3 2018	24.46 %	(73.89 %)	(94.33 %)
Q4 2018	18.65 %	(49.88 %)	(53.36 %)
2018	18.65 %	(49.89 %)	(53.37 %)
Q1 2019	30.26 %	(2.49 %)	(3.05 %)
Q2 2019	30.28 %	(1.34 %)	(6.76 %)
Q3 2019	30.94 %	4.38 %	(2.27 %)
Q4 2019	29.56 %	4.37 %	(1.27 %)
2019	30.55 %	5.08 %	(1.29 %)
Q1 2020	21.62 %	(18.50 %)	(30.34 %)
Q2 2020	21.46 %	(5.88 %)	(11.09 %)
Q3 2020	19.73 %	(10.67 %)	(19.95 %)
Q4 2020	22.65 %	(10.82 %)	(22.84 %)
2020	21.73 %	(11.66 %)	(22.78 %)
Q1 2021	23.69 %	(8.91 %)	(20.80 %)
Q2 2021	25.87 %	(37.32 %)	(54.75 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2011	70.80 %	23.71 %	(9.72 %)
2012	61.50 %	8.80 %	(28.13 %)
2013	28.47 %	(43.37 %)	(0.98 %)
2014	14.01 %	(20.36 %)	0.65 %
2015	17.89 %	(77.46 %)	(37.04 %)
2016	54.54 %	16.00 %	13.30 %
2017	22.81 %	(105.79 %)	(129.60 %)
2018	18.65 %	(49.89 %)	(53.37 %)
2019	30.55 %	5.08 %	(1.29 %)
2020	21.73 %	(11.66 %)	(22.78 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	44.54 %	(200.25 %)	(207.19 %)
Q2 2012	63.28 %	16.59 %	(2.94 %)
Q3 2012	70.21 %	51.27 %	16.99 %
Q4 2012	(33.52 %)	(348.59 %)	(532.24 %)
Q1 2013	42.77 %	(89.04 %)	(135.85 %)
Q2 2013	39.62 %	(63.40 %)	(33.98 %)
Q3 2013	27.07 %	0.83 %	9.09 %
Q4 2013	(7.63 %)	(131.27 %)	207.25 %
Q1 2014	20.79 %	(4.67 %)	(11.48 %)
Q2 2014	27.72 %	4.43 %	56.35 %
Q3 2014	32.98 %	(8.56 %)	125.29 %
Q4 2014	(56.83 %)	(128.77 %)	(263.45 %)
Q1 2015	(18.00 %)	(166.48 %)	(116.91 %)
Q2 2015	41.76 %	(19.23 %)	(30.39 %)
Q3 2015	39.06 %	(135.47 %)	(81.59 %)
Q4 2015	(7.73 %)	(58.80 %)	22.83 %
Q1 2016	(6.30 %)	(104.61 %)	(139.01 %)
Q2 2016	57.13 %	27.96 %	28.60 %
Q3 2016	(6.86 %)	(255.29 %)	(217.99 %)
Q4 2016	62.22 %	37.63 %	33.46 %
Q1 2017	19.48 %	(86.53 %)	(79.44 %)
Q2 2017	7.21 %	(99.18 %)	(109.13 %)
Q3 2017	(48.54 %)	(271.91 %)	(279.91 %)
Q4 2017	200.43 %	76.60 %	(122.12 %)
Q1 2018	(12.55 %)	(167.63 %)	(185.74 %)
Q2 2018	16.89 %	(44.13 %)	(56.67 %)
Q3 2018	19.90 %	(85.62 %)	(84.42 %)
Q4 2018	25.69 %	(11.25 %)	(9.39 %)
Q1 2019	36.53 %	23.96 %	24.37 %
Q2 2019	22.84 %	(19.44 %)	(54.36 %)
Q3 2019	27.53 %	(20.37 %)	(31.65 %)
Q4 2019	16.37 %	(15.31 %)	(5.45 %)
Q1 2020	21.82 %	(19.63 %)	(29.14 %)
Q2 2020	21.84 %	8.00 %	(0.55 %)
Q3 2020	11.31 %	(88.52 %)	(152.99 %)
Q4 2020	31.33 %	(17.48 %)	(17.05 %)
Q1 2021	26.68 %	(10.25 %)	(19.31 %)
Q2 2021	27.42 %	(114.26 %)	(146.45 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q1 2018	339.30	(0.07)	(0.11)	9.22
Q2 2018	339.30	(0.07)	(0.11)	9.20
Q3 2018	339.30	(0.08)	(0.11)	9.16
Q4 2018	339.30	(0.11)	(0.11)	9.15
Q1 2019	339.30	(0.01)	(0.01)	9.21
Q2 2019	339.30	0.03	(0.03)	9.22
Q3 2019	339.30	0.05	(0.01)	9.21
Q4 2019	339.30	0.05	(0.01)	9.21
Q1 2020	339.30	(0.02)	(0.08)	9.19
Q2 2020	339.30	(0.04)	(0.04)	9.18
Q3 2020	339.30	(0.07)	(0.07)	9.14
Q4 2020	339.30	(0.08)	(0.08)	9.13
Q1 2021	339.30	(0.07)	(0.07)	9.12
Q2 2021	339.30	(0.06)	(0.10)	9.13

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2011	339.30	(0.03)	(0.03)	9.46
2012	339.30	(0.08)	(0.08)	9.38
2013	339.30	0.00	0.00	9.38
2014	339.30	(0.08)	0.00	9.30
2015	339.30	(0.03)	(0.03)	9.26
2016	339.30	0.04	0.04	9.32
2017	339.30	(0.06)	(0.09)	9.26
2018	339.30	(0.11)	(0.11)	9.15
2019	339.30	0.05	(0.01)	9.21
2020	339.30	(0.08)	(0.08)	9.13

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q1 2018	NEG	NEG	1.30
Q2 2018	NEG	NEG	1.25
Q3 2018	NEG	NEG	1.24
Q4 2018	NEG	NEG	0.99
Q1 2019	NEG	NEG	1.06
Q2 2019	More than 100	NEG	1.06
Q3 2019	More than 100	NEG	1.05
Q4 2019	More than 100	NEG	1.08
Q1 2020	NEG	NEG	0.88
Q2 2020	NEG	NEG	1.01
Q3 2020	NEG	NEG	1.45
Q4 2020	NEG	NEG	1.30
Q1 2021	NEG	NEG	1.94
Q2 2021	NEG	NEG	2.51

Period	P/E	Adjusted P/E	Price/book
2011	NEG	NEG	1.16
2012	NEG	NEG	1.34
2013	NEG	NEG	1.89
2014	NEG	More than 100	1.82
2015	NEG	NEG	1.67
2016	More than 100	More than 100	1.94
2017	NEG	NEG	1.38
2018	NEG	NEG	0.99
2019	More than 100	NEG	1.08
2020	NEG	NEG	1.30

Business Segments (Million)

Compared With The

Period	Real estate development	Property management & consulting services	Held for sale	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	-
Q1 2018	6.93	1.96	-	0.33	(1.96)
Q2 2018	14.14	-	-	1.50	-
Q3 2018	13.49	2.76	-	1.27	-
Q4 2018	30.03	2.91	-	3.43	(2.91)
Q1 2019	79.74	-	-	2.39	-
Q2 2019	28.27	-	4.26	(2.39)	-
Q3 2019	17.16	-	0.26	-	-
Q4 2019	26.58	-	5.35	-	-
Q1 2020	23.19	-	0.26	-	-
Q2 2020	59.27	-	0.50	-	-
Q3 2020	9.90	-	-	-	-
Q4 2020	20.58	-	-	-	-
Q1 2021	24.63	-	-	-	-
Q2 2021	7.39	-	-	-	-

Period	Real estate development	Property management & consulting services	Held for sale	Learning and training of operational staff	Dicontinued operation
2015	-	21.02	-	9.95	-
2016	70.43	22.16	-	12.72	-
2017	8.38	15.25	-	15.50	(15.25)
2018	64.59	9.52	-	6.53	(9.52)
2019	151.76	-	9.88	-	-
2020	112.94	-	0.76	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	4,566.98
Enterprise Value (EV) (M)	5,393.21
Shares Outstanding ((M))	339.30
EPS ( Riyal) (TTM)	(0.15)
Book Value (BV) ( Riyal)	8.84
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	1.52
Return on Average Assets (%) (TTM)	(1.30 )
Return on Average Equity (%) (TTM)	(1.66 )

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KEC trims net loss to SAR 71,000 in H1 2021

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2021 Q2

Financial Ratios

Share Price

Knowledge Economic City (KEC)

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KEC trims net loss to SAR 71,000 in H1 2021

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2021

Revenue by Business Segment (Latest) 2021 Q2

Financial Ratios

Share Price

Knowledge Economic City (KEC)

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Business Segments (Million)