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Kuwait Corporate Fact Sheet

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Network Holding Co.<br />

Services Sector<br />

Reuters Code: VEND.KW Current Price (KD) : 0.495<br />

Key <strong>Fact</strong>s<br />

KD '000 2003 2004 2005 2006 2007<br />

Cash & Equivalents 869 468 792 1,027 968<br />

Accounts Receivable & Other Debit Balances 369 1,978 1,310 1,837 1,938<br />

Inventories 815 994 513 928 837<br />

Investments 363 693 1,047 1,781 1,601<br />

Property & Equipment 546 646 1,189 1,188 1,951<br />

Other Assets 20 1,345 1,712 1,720 1,720<br />

Total Assets 2,982 6,124 6,563 8,482 9,015<br />

Accounts Payable & Other Credit Balances 1,605 2,693 1,569 1,937 2,239<br />

Other Liabilities 16 111 117 130 160<br />

Total Liabilities 1,622 2,805 1,686 2,067 2,399<br />

Equity 1,360 3,320 4,877 6,414 6,617<br />

Sales 1,075 3,568 3,809 3,979 4,242<br />

Cost of Sales 136 1,170 878 971 1,117<br />

Gross Profit 940 2,397 2,931 3,008 3,125<br />

Other Operating Income 1 3 115 98 32<br />

Operaing Expenses 363 1,164 1,298 1,462 1,844<br />

Operating Profit 578 1,236 1,749 1,644 1,313<br />

Finance Costs 57 66 177 93 94<br />

Other Expenses 5 11 14 13 42<br />

Net Profit 516 1,159 1,558 1,537 1,177<br />

Key Ratios<br />

KAMCO Research<br />

<strong>Fact</strong> <strong>Sheet</strong><br />

June 22, 2008<br />

2003 2004 2005 2006 2007<br />

Return On Assets 17.3% 18.9% 23.7% 18.1% 13.1%<br />

Return On Equity 37.9% 34.9% 31.9% 24.0% 17.8%<br />

Gross Profit Margin 87.4% 67.2% 76.9% 75.6% 73.7%<br />

Operating Profit Margin 53.7% 34.6% 44.6% 40.3% 30.7%<br />

Net Profit Margin 47.9% 32.5% 39.7% 37.7% 27.5%<br />

Total Liabilities / Total Assets 54.4% 45.8% 25.7% 24.4% 26.6%<br />

Historical Share Data* YTD<br />

2004 2005 2006 2007 22-Jun-08<br />

Market Capitalization (KD thousand) N/A N/A N/A 13,065 74,250<br />

Closing Share Price (KD) N/A N/A N/A 0.335 0.495<br />

Highest Price For the Period (KD) N/A N/A N/A 0.500 0.640<br />

Lowest Price For the Period (KD) N/A N/A N/A 0.330 0.275<br />

Volume (Shares thousand) N/A N/A N/A 9,420 174,730<br />

Value (KD thousand) N/A N/A N/A 3,608 79,984<br />

No. of Trades N/A N/A N/A 451 4,662<br />

EPS (KD) 0.077 0.052 0.039 0.030 0.030<br />

Book Value Per Share (KD) 0.221 0.163 0.164 0.170 0.170<br />

Dividend Per Share (KD) 0.000 0.000 0.03 0.00 NA<br />

Price to Earnings Multiple (X) #<br />

6.43 9.54 12.56 16.40 16.40<br />

Price to Book Value Multiple (X) #<br />

2.24 3.04 3.01 2.92 2.92<br />

Dividend Yield (%) #<br />

0.00 0.00 5.05 0.00 0.00<br />

KD<br />

0.640<br />

0.600<br />

0.560<br />

0.520<br />

0.480<br />

0.440<br />

0.400<br />

0.360<br />

0.320<br />

0.280<br />

52-Week Price Chart Rel. to KAMCO TRW Index<br />

VENDINGNET KAMCO TRW Index<br />

24.6.07<br />

8.7.07<br />

22.7.07<br />

5.8.07<br />

19.8.07<br />

2.9.07<br />

16.9.07<br />

30.9.07<br />

14.10.07<br />

28.10.07<br />

11.11.07<br />

25.11.07<br />

9.12.07<br />

23.12.07<br />

6.1.08<br />

20.1.08<br />

3.2.08<br />

17.2.08<br />

2.3.08<br />

16.3.08<br />

30.3.08<br />

13.4.08<br />

27.4.08<br />

11.5.08<br />

25.5.08<br />

8.6.08<br />

22.6.08<br />

Index<br />

4,800<br />

4,700<br />

4,600<br />

4,500<br />

4,400<br />

4,300<br />

4,200<br />

4,100<br />

4,000<br />

NA: Not Applicable, NM: Not Meaningful<br />

N/A: Not Available, YTD: Beginning of year to date<br />

#<br />

:Historical P/E, P/B & Yield are based on<br />

current price & historical earning per share,<br />

book value per share & dividend per share<br />

*: The company was listed on the KSE on 5-May-07<br />

Investment Research Department<br />

KIPCO Asset Management Co.K.S.C.C<br />

KAMCO<br />

P.O.Box: 28873 Safat 13149 <strong>Kuwait</strong><br />

Email : kamco_research@kamconline.com

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