Kuwait Corporate Fact Sheet

Pearl of Kuwait Real Estate Co. Fact Sheet
Real Estate Sector
Reuters Code: PEAR.KW Current Price (KD) : 0.345
Key Facts
KD '000 2003 2004 2005 2006 2007
Cash & Cash Equivalent 3,358 2,641 2,393 1,414 3,547
A/R & Other Debit Balances 2,179 4,203 9,352 8,317 9,582
Investments in Real Estates 15,986 23,742 21,913 30,747 33,061
Held for Trading Investments 863 2,182 10,561 16,869 23,251
Available for Sale Investments 7,618 4,614 11,599 12,773 13,884
Investments in Associates & Unconsolidated Subsidiaries 0 0 3,495 1,990 3,828
Fixed Assets 11,458 13,669 592 23 29
Total Assets 41,463 51,051 59,906 72,133 87,180
Accounts Payable & Other Credit Balances 2,492 3,804 2,367 3,032 3,922
Total Loans & Facilities 13,045 19,077 28,739 40,201 49,884
Other Liabilities 499 1,068 139 185 158
Total Liabilities 16,035 23,949 31,245 43,418 53,964
Minority interest 4,623 3,272 1,818 2,081 2,196
Equity 20,805 23,830 26,843 26,634 31,021
Sales & Service Revenues 1,410 964 0 0 0
Cost of Sales & Services 709 1,305 0 0 0
Gross Profit (Loss) on Sales & Services 701 (341) 0 0 0
Income from Real Estate Investments 614 4,867 1,308 500 2,733
Other Operating Income 243 85 68 48 329
Operating Expenses 763 1,629 919 1,295 2,771
Operating Profit (Loss) 796 2,982 457 (747) 291
Total Investment Income (Loss) 849 1,063 3,308 387 6,800
Other Income 753 351 155 1,855 (358)
Finance Charges 924 885 1,104 2,177 2,287
Other Expenses 74 149 147 0 174
Discountinued Operations 0 0 675 816 0
Net Profit (Loss) 1,400 3,362 3,344 134 4,271
Key Ratios
KAMCO Research
June 22, 2008
2003 2004 2005 2006 2007
Return On Assets 3.4% 6.6% 5.6% 0.2% 4.9%
Return On Equity 6.7% 14.1% 12.5% 0.5% 13.8%
Income from Real Estate / Inv. In Real Estate 3.8% 20.5% 6.0% 1.6% 8.3%
Investments in Real Estates / Total Assets 38.6% 46.5% 36.6% 42.6% 37.9%
Investments/ Total Assets 20.5% 13.3% 42.8% 43.9% 47.0%
Total Debt / Equity 62.7% 80.1% 107.1% 150.9% 160.8%
Historical Share Data YTD
2004 2005 2006 2007 22-Jun-08
Market Capitalization (KD thousand) 44,390 63,073 32,486 46,212 86,820
Closing Share Price (KD) 0.218 0.295 0.142 0.202 0.345
Highest Price for the Period (KD) 0.280 0.370 0.300 0.234 0.350
Lowest Price for the Period (KD) 0.216 0.182 0.134 0.134 0.208
Volume (Shares thousand) 744,810 929,160 352,780 489,280 323,890
Value (KD thousand) 182,230 249,423 70,533 86,916 95,836
No. of Trades 14,150 24,433 10,830 7,662 7,286
EPS (KD) 0.016 0.015 0.001 0.019 0.019
Book Value Per Share (KD) 0.117 0.126 0.117 0.136 0.136
Dividend Per Share (KD) 0.007 0.007 0.000 0.010 NA
Price to Earnings Multiple (X) #
21.90 23.57 NM 18.36 18.36
Price to Book Value Multiple (X) #
2.94 2.74 2.96 2.54 2.54
Dividend Yield (%) #
2.03 2.03 0.00 2.90 2.90
KD
0.365
0.345
0.325
0.305
0.285
0.265
0.245
0.225
0.205
0.185
0.165
52-Week Price Chart Rel. to KAMCO TRW Index
Index
24.6.07
8.7.07
22.7.07
5.8.07
19.8.07
2.9.07
16.9.07
30.9.07
14.10.07
28.10.07
11.11.07
25.11.07
9.12.07
23.12.07
6.1.08
20.1.08
3.2.08
17.2.08
2.3.08
16.3.08
30.3.08
13.4.08
27.4.08
11.5.08
25.5.08
8.6.08
22.6.08
PEARL KAMCO TRW Index
4,800
4,700
4,600
4,500
4,400
4,300
4,200
4,100
4,000
NA: Not Applicable, NM: Not Meaningful
YTD: Beginning of year to date
#
: Historical P/E, P/B & Yield are based on
current price & historical earning per share,
book value per share & dividend per share
Investment Research Department
KIPCO Asset Management Co.K.S.C.C
KAMCO
P.O.Box: 28873 Safat 13149 Kuwait
Email : kamco_research@kamconline.com