Financial Results : Knowledge City loss widens to SAR 17.3M in Q1 2025

Knowledge City loss widens to SAR 17.3M in Q1 2025

14/05/2025 Argaam Exclusive

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Knowledge Economic City (KEC) deepened net losses to SAR 17.3 million in Q1 2025, from SAR 13.6 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 7.52 51.00 578.3 %
Gross Income 2.49 9.78 292.9 %
Operating Income (16.46) (15.95) 3.1 %
Net Income (13.58) (17.26) (27.1 %)
Average Shares 339.30 339.30 -
Earnings Per Share before unusual items (Riyal) (0.04) (0.05) (27.1 %)
EPS (Riyal) (0.04) (0.05) (27.1 %)

The higher losses were primarily driven by higher operating activities year-on-year (YoY).

 

This was partially offset by an increase in sales during the quarter, mainly driven by the sale of units in one of the company’s new residential projects.

 

On a quarterly basis, KEC swung to a loss versus a net profit of SAR 26.66 million in Q4 2024. This was due to a lower number of units sold, with the majority of the units sold in Q4 2024. In addition, no land plots were sold during the period, unlike in the previous quarter.

 

Total shareholders’ equity, no minority interest, fell marginally to SAR 2.96 billion as of March 31, 2025, from SAR 3 billion in the prior-year period.

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