Kuwait Corporate Fact Sheet

Arab Real Estate Co. Fact Sheet
Real Estate Sector
Reuters Code: ARAB.KW Current Price (KD) : 0.275
Key Facts
KD '000 2003 2004 2005 2006 2007
Cash & Equivalent 4,317 2,687 534 702 1,088
A/R & Other Debit Balances 1,546 890 5,428 7,563 17,322
Held for Trading Investments 29,014 30,424 13,993 19,348 21,295
Available for Sale Investments 3,008 2,556 3,794 5,024 6,190
Investment in Associated Co. & Subsidiaries 516 2,501 24,242 21,144 22,819
Investment Properties 32,862 39,985 44,008 53,716 52,899
Fixed Assets 800 689 1,286 1,192 1,109
Other Assets 825 451 31 26 25
Total Assets 72,887 80,183 93,316 108,717 122,748
A/P & Other Credit Balances 1,172 1,577 2,583 2,969 2,651
Loans & Due to Banks 263 7,000 9,314 10,900 41,455
Bonds 20,000 20,000 20,000 20,000 0
Other Liabilities 8,549 798 734 3,521 1,598
Total Liabilities 29,983 29,375 32,631 37,390 45,704
Equity 42,904 50,808 60,685 71,326 77,044
Rental Income 1,115 0 0 0 0
Other Operating Revenues 1,588 1,402 8,691 7,821 8,282
Operating Revenues 2,703 1,402 8,691 7,821 8,282
Operating Expenses 5,059 3,024 3,492 4,723 4,312
Operating Profit (Loss) (2,356) (1,621) 5,199 3,098 3,970
Investment Income 13,736 5,960 2,162 664 1,877
Other Income (27) 96 1,324 (25) (22)
Other Expenses 376 159 250 152 170
Net Profit 10,977 4,276 8,435 3,585 5,655
Key Ratios
KAMCO Research
June 22, 2008
2003 2004 2005 2006 2007
Return On Assets 15.1% 5.3% 9.0% 3.3% 4.6%
Return On Equity 25.6% 8.4% 13.9% 5.0% 7.3%
Investment Properties / Total Assets 45.1% 49.9% 47.2% 49.4% 43.1%
Operating Profit Margin NM NM 59.8% 39.6% 47.9%
Investment Income / Total Investments 42.2% 16.8% 5.1% 1.5% 3.7%
Total Debt / Equity 47.2% 53.1% 48.3% 43.3% 53.8%
Historical Share Data YTD
2004 2005 2006 2007 22-Jun-08
Market Capitalization (KD thousand) 60,225 93,260 62,892 67,517 133,531
Closing Share Price (KD) 0.168 0.242 0.136 0.146 0.275
Highest Price for the Period (KD) 0.290 0.315 0.248 0.200 0.275
Lowest Price for the Period (KD) 0.150 0.144 0.122 0.120 0.136
Volume (Shares thousand) 484,800 968,100 363,020 961,880 634,070
Value (KD thousand) 103,255 206,738 61,542 162,418 121,655
No. of Trades 11,954 26,441 10,622 17,794 9,829
EPS (KD) 0.012 0.021 0.008 0.012 0.012
Book Value Per Share (KD) 0.145 0.157 0.154 0.167 0.167
Dividend Per Share (KD) 0.000 0.005 0.000 0.008 NA
Price to Earnings Multiple (X) #
23.25 12.90 34.81 22.14 22.14
Price to Book Value Multiple (X) #
1.90 1.75 1.78 1.65 1.65
Dividend Yield (%) #
0.00 1.82 0.00 2.73 2.73
KD
0.295
0.275
0.255
0.235
0.215
0.195
0.175
0.155
0.135
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
ARABREC 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