Kingdom Holding swings to SAR 1.46 bln losses for 2020

31/03/2021 Argaam Exclusive

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Kingdom Holding Co. (KHC) reported net loss after Zakat and tax of SAR 1.46 billion for 2020, versus net profit of SAR 420.2 million for 2019.

 

These losses were attributed to lower share from equity-accounted investees, decreased hotel and other operating revenues, impairment of equity-accounted investee, and a drop in gains from investments.

 

The company also cited higher asset impairment, and increased Zakat expenses.

 



Financials (M)

Item 2019 2020 Change‬
Revenues 1,403.81 554.18 (60.5 %)
Gross Income 493.48 0.86 (99.8 %)
Operating Income 71.47 (575.88) (905.8 %)
Net Income 420.17 (1466.80) (449.1 %)
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) 0.11 (0.40) (449.1 %)

Q4 2020 net loss stood at SAR 97.2 million, versus net profit of SAR 18.36 million in Q4 2019.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 449.64 116.69 (74.0 %)
Gross Income 192.14 161.92 (15.7 %)
Operating Income 75.61 (186.01) (346.0 %)
Net Income 18.36 (97.20) (629.3 %)
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) 0.00 (0.03) (629.3 %)

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