knowledge Economic City Company (KEC), which develops the knowledge Economic City (KEC) in Al-Medina, reported a net profit of SAR 23m for the nine months ended September 30, 2014, compared to a loss of SAR 9.4m for the same period last year.
A net profit of SAR 15.9m was reported for Q3-2014 compared to SAR 15.5m for Q2.
| Item | 9m 2013 | 9m 2014 | Change |
|---|---|---|---|
| Revenues | 33.79 | 61.95 | 83.3 % |
| Gross Income | 11.20 | 16.34 | 45.9 % |
| Operating Income | (12.65) | (2.95) | 76.7 % |
| Net Income | (9.44) | 28.97 | 407.0 % |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | (0.03) | 0.09 | 407.0 % |
The company attributed the increase of the first nine months of 2014’s net profit, compared to the same period last year, to the increase of Villas sales revenues of KEC and sales and Accelerating the delivery of villas sold for AMAAK Co. on Dar Aljjwar project, which resulted in increase of net realized profit from sale of land and net profit share on associate companies, in addition to the decrease of marketing & selling expenses.
The increase of Q3- 2014’s net profit, compared to the same period last year was attributed to the increase of Villas sales revenues of KEC and sales and Accelerating the delivery of villas sold for AMAAK Co. on Dar Aljjwar project, which resulted in increase of net realized profit from sale of land and net profit share on associate companies, in addition to the decrease of the cost of sales and zakat provision.
The increase of Q3- 2014’s net profit, compared to the previous period (Q2) was attributed to the decrease of general and administrative expenses & Zakat expenses.
| Item | Q3 2013 | Q3 2014 | Change |
|---|---|---|---|
| Revenues | 18.92 | 12.72 | (32.8 %) |
| Gross Income | 5.12 | 4.19 | (18.1 %) |
| Operating Income | (0.42) | (1.73) | (312.9 %) |
| Net Income | 1.72 | 15.93 | 826.8 % |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | 0.01 | 0.05 | 826.8 % |
| Item | Q2 2014 | Q3 2014 | Change |
|---|---|---|---|
| Revenues | 27.56 | 12.72 | (53.9 %) |
| Gross Income | 7.64 | 4.19 | (45.1 %) |
| Operating Income | 0.55 | (1.73) | (414.0 %) |
| Net Income | 15.53 | 15.93 | 2.6 % |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | 0.05 | 0.05 | 2.6 % |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2005 | - | - | - | - | - | - | - |
| Q2 2005 | - | - | - | - | - | - | - |
| Q3 2005 | - | - | - | - | - | - | - |
| Q4 2005 | - | - | - | - | - | - | - |
| 2005 | - | - | - | - | - | - | - |
| Q1 2006 | - | - | - | - | - | - | - |
| Q2 2006 | - | - | - | - | - | - | - |
| Q3 2006 | - | - | - | - | - | - | - |
| Q4 2006 | - | - | - | - | - | - | - |
| 2006 | - | - | - | - | - | - | - |
| Q1 2007 | - | - | - | - | - | - | - |
| Q2 2007 | - | - | - | - | - | - | - |
| Q3 2007 | - | - | - | - | - | - | - |
| Q4 2007 | - | - | - | - | - | - | - |
| 2007 | - | - | - | - | - | - | - |
| Q1 2008 | - | - | - | - | - | - | - |
| Q2 2008 | - | - | - | - | - | - | - |
| Q3 2008 | - | - | - | - | - | - | - |
| Q4 2008 | - | - | - | - | - | - | - |
| 2008 | - | - | - | - | - | - | - |
| Q1 2009 | - | - | - | - | - | - | - |
| Q2 2009 | - | - | - | - | - | - | - |
| Q3 2009 | - | - | - | - | - | - | - |
| Q4 2009 | - | - | - | - | - | - | - |
| 2009 | - | - | - | - | - | - | - |
| Q1 2010 | - | - | - | - | - | - | - |
| Q2 2010 | - | - | - | - | - | - | - |
| Q3 2010 | - | - | - | - | - | - | - |
| Q4 2010 | - | - | - | - | - | - | - |
| 2010 | - | - | - | - | (145.63) | - | (0.43) |
| Q1 2011 | 86.22 | - | 63.38 | - | 20.19 | - | 0.06 |
| Q2 2011 | - | - | - | - | (9.28) | - | (0.03) |
| Q3 2011 | - | - | - | - | (9.96) | - | (0.03) |
| Q4 2011 | 7.72 | - | 3.13 | - | (10.08) | - | (0.03) |
| 2011 | 93.94 | - | 66.50 | - | (9.13) | 93.7 % | (0.03) |
| 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 |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| 2004 | - | - | - | - | - | - | - |
| 2005 | - | - | - | - | - | - | - |
| 2006 | - | - | - | - | - | - | - |
| 2007 | - | - | - | - | - | - | - |
| 2008 | - | - | - | - | - | - | - |
| 2009 | - | - | - | - | - | - | - |
| 2010 | - | - | - | - | (145.63) | - | (0.43) |
| 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 |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2005 | - | - | - |
| Q2 2005 | - | - | - |
| Q3 2005 | - | - | - |
| Q4 2005 | - | - | - |
| 2005 | - | - | - |
| Q1 2006 | - | - | - |
| Q2 2006 | - | - | - |
| Q3 2006 | - | - | - |
| Q4 2006 | - | - | - |
| 2006 | - | - | - |
| Q1 2007 | - | - | - |
| Q2 2007 | - | - | - |
| Q3 2007 | - | - | - |
| Q4 2007 | - | - | - |
| 2007 | - | - | - |
| Q1 2008 | - | - | - |
| Q2 2008 | - | - | - |
| Q3 2008 | - | - | - |
| Q4 2008 | - | - | - |
| 2008 | - | - | - |
| Q1 2009 | - | - | - |
| Q2 2009 | - | - | - |
| Q3 2009 | - | - | - |
| Q4 2009 | - | - | - |
| 2009 | - | - | - |
| Q1 2010 | - | - | - |
| Q2 2010 | - | - | - |
| Q3 2010 | - | - | - |
| Q4 2010 | - | - | - |
| 2010 | - | - | - |
| Q1 2011 | - | - | - |
| Q2 2011 | - | - | - |
| Q3 2011 | - | - | - |
| Q4 2011 | 70.80 % | 23.71 % | (9.72 %) |
| 2011 | 70.80 % | 23.71 % | (9.72 %) |
| 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 % |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| 2004 | - | - | - |
| 2005 | - | - | - |
| 2006 | - | - | - |
| 2007 | - | - | - |
| 2008 | - | - | - |
| 2009 | - | - | - |
| 2010 | - | - | - |
| 2011 | 70.80 % | 23.71 % | (9.72 %) |
| 2012 | 61.50 % | 8.80 % | (28.13 %) |
| 2013 | 28.47 % | (43.37 %) | (0.98 %) |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2005 | - | - | - |
| Q2 2005 | - | - | - |
| Q3 2005 | - | - | - |
| Q4 2005 | - | - | - |
| Q1 2006 | - | - | - |
| Q2 2006 | - | - | - |
| Q3 2006 | - | - | - |
| Q4 2006 | - | - | - |
| Q1 2007 | - | - | - |
| Q2 2007 | - | - | - |
| Q3 2007 | - | - | - |
| Q4 2007 | - | - | - |
| Q1 2008 | - | - | - |
| Q2 2008 | - | - | - |
| Q3 2008 | - | - | - |
| Q4 2008 | - | - | - |
| Q1 2009 | - | - | - |
| Q2 2009 | - | - | - |
| Q3 2009 | - | - | - |
| Q4 2009 | - | - | - |
| Q1 2010 | - | - | - |
| Q2 2010 | - | - | - |
| Q3 2010 | - | - | - |
| Q4 2010 | - | - | - |
| Q1 2011 | 73.51 % | 58.58 % | 23.42 % |
| Q2 2011 | - | - | - |
| Q3 2011 | - | - | - |
| Q4 2011 | 40.50 % | (56.84 %) | (130.66 %) |
| 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 % |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2005 | - | - | - | - |
| Q2 2005 | - | - | - | - |
| Q3 2005 | - | - | - | - |
| Q4 2005 | - | - | - | - |
| Q1 2006 | - | - | - | - |
| Q2 2006 | - | - | - | - |
| Q3 2006 | - | - | - | - |
| Q4 2006 | - | - | - | - |
| Q1 2007 | - | - | - | - |
| Q2 2007 | - | - | - | - |
| Q3 2007 | - | - | - | - |
| Q4 2007 | - | - | - | - |
| Q1 2008 | - | - | - | - |
| Q2 2008 | - | - | - | - |
| Q3 2008 | - | - | - | - |
| Q4 2008 | - | - | - | - |
| Q1 2009 | - | - | - | - |
| Q2 2009 | - | - | - | - |
| Q3 2009 | - | - | - | - |
| Q4 2009 | - | - | - | - |
| Q1 2010 | - | - | - | - |
| Q2 2010 | - | - | - | - |
| Q3 2010 | - | - | - | - |
| Q4 2010 | - | - | - | - |
| Q1 2011 | 339.30 | - | - | 9.54 |
| Q2 2011 | 339.30 | - | - | 9.52 |
| Q3 2011 | 339.30 | - | - | 9.49 |
| Q4 2011 | 339.30 | (0.03) | (0.03) | 9.46 |
| 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 |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| 2004 | - | - | - | - |
| 2005 | - | - | - | - |
| 2006 | - | - | - | - |
| 2007 | - | - | - | - |
| 2008 | - | - | - | - |
| 2009 | - | - | - | - |
| 2010 | 339.30 | (0.43) | (0.04) | 9.48 |
| 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 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2005 | - | - | - |
| Q2 2005 | - | - | - |
| Q3 2005 | - | - | - |
| Q4 2005 | - | - | - |
| Q1 2006 | - | - | - |
| Q2 2006 | - | - | - |
| Q3 2006 | - | - | - |
| Q4 2006 | - | - | - |
| Q1 2007 | - | - | - |
| Q2 2007 | - | - | - |
| Q3 2007 | - | - | - |
| Q4 2007 | - | - | - |
| Q1 2008 | - | - | - |
| Q2 2008 | - | - | - |
| Q3 2008 | - | - | - |
| Q4 2008 | - | - | - |
| Q1 2009 | - | - | - |
| Q2 2009 | - | - | - |
| Q3 2009 | - | - | - |
| Q4 2009 | - | - | - |
| Q1 2010 | - | - | - |
| Q2 2010 | - | - | - |
| Q3 2010 | - | - | - |
| Q4 2010 | - | - | - |
| Q1 2011 | - | - | 0.79 |
| Q2 2011 | - | - | 0.85 |
| Q3 2011 | - | - | 0.80 |
| Q4 2011 | NEG | NEG | 1.16 |
| 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 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| 2004 | - | - | - |
| 2005 | - | - | - |
| 2006 | - | - | - |
| 2007 | - | - | - |
| 2008 | - | - | - |
| 2009 | - | - | - |
| 2010 | NEG | NEG | 0.84 |
| 2011 | NEG | NEG | 1.16 |
| 2012 | NEG | NEG | 1.34 |
| 2013 | NEG | NEG | 1.89 |
| Current | |
| Market Cap (M Riyal) | 5,048.78 |
| Enterprise Value (EV) (M) | 5,789.41 |
| 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 | 1.68 |
| Return on Average Assets (%) (TTM) | (1.30 ) |
| Return on Average Equity (%) (TTM) | (1.66 ) |
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