Knowledge Economic City turns to profit in FY16
18/01/2017
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Knowledge Economic City Co. reported a net profit of SAR 15.23 million for the fiscal year 2016, versus a loss of SAR 11.47 million in the year-earlier period on higher revenue and higher income from Murabaha financing.
Financials (M)
| Item | 2015 | 2016 | Change |
|---|---|---|---|
| Revenues | 30.97 | 105.31 | 240.1 % |
| Gross Income | 5.54 | 57.44 | 936.8 % |
| Operating Income | (26.40) | 14.54 | 155.1 % |
| Net Income | (11.47) | 14.01 | 222.1 % |
| Average Shares | 339.30 | 339.30 | - |
| Earnings Per Share before unusual items (Riyals) | (0.03) | 0.04 | 222.1 % |
| EPS (Riyal) | (0.03) | 0.04 | 222.1 % |
The company reported a net profit of SAR 29.8 million for the fourth quarter of 2016, compared to a profit of SAR 2.2 million in the same period last year due to higher revenue.
When compared to the loss of SAR 7.2 million in third quarter of 2016, the period’s net profit was attributed to higher revenue and higher income realized from sale of land.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2015 | Q4 2016 | Change |
|---|---|---|---|
| Revenues | 9.59 | 65.86 | 587.0 % |
| Gross Income | (0.74) | 40.98 | 5630.4 % |
| Operating Income | (6.26) | 24.25 | 487.6 % |
| Net Income | 2.19 | 22.04 | 906.7 % |
| Average Shares | 339.30 | 339.30 | - |
| Earnings Per Share before unusual items (Riyal) | 0.01 | 0.06 | 906.7 % |
| EPS (Riyal) | 0.01 | 0.06 | 906.7 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2016 | 5.36 | 30.5 % | (0.34) | 54.3 % | (6.21) | 16.6 % |
| Q2 2016 | 29.90 | 192.4 % | 17.08 | 299.9 % | 7.76 | 406.5 % |
| Q3 2016 | 4.19 | (40.6 %) | (0.29) | (110.4 %) | (11.26) | (10.7 %) |
| Q4 2016 | 65.86 | 587.0 % | 40.98 | 5630.4 % | 24.25 | 487.6 % |
| 2016 | 105.31 | 240.1 % | 57.44 | 936.8 % | 14.54 | 155.1 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2016 | (7.46) | (55.1 %) | (0.02) | - | (7.46) | (0.02) |
| Q2 2016 | 8.55 | 375.1 % | 0.03 | - | 8.55 | 0.03 |
| Q3 2016 | (9.12) | (58.8 %) | (0.03) | - | (9.12) | (0.03) |
| Q4 2016 | 22.04 | 906.7 % | 0.06 | - | 22.04 | 0.06 |
| 2016 | 14.01 | 222.1 % | 0.04 | - | 14.01 | 0.04 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| 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 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| 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 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| 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 |
Business Segments (Million)
Q4 2016
| Period | Real estate development | Property management & consulting services | Learning and training of operational staff |
|---|---|---|---|
| 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 |
| Current | |
| Market Cap (M Riyal) | 4,421.08 |
| Enterprise Value (EV) (M) | 6,039.33 |
| Shares Outstanding ((M)) | 339.30 |
| EPS ( Riyal) (TTM) | (0.07) |
| Book Value (BV) ( Riyal) | 8.75 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | Neg |
| P/E (TTM) | NEG |
| Price/book | 1.49 |
| Return on Average Assets (%) (TTM) | (0.54 ) |
| Return on Average Equity (%) (TTM) | (0.83 ) |
| EV/adj EBITDA | (279.90) |
| EV/Revenues | 29.96 |
Share Price
Knowledge Economic City (KEC)
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