Kuwait Corporate Fact Sheet

Al-Enma'a Real Estate Co. Fact Sheet
Real Estate Sector
KAMCO Research
June 22, 2008
Reuters Code: ENMA.KW
Key Facts
Current Price (KD) : 0.275
KD '000 2003 2004 2005 2006 2007
Cash & Equivalent 457 523 512 1,343 4,981
A/R & Other Debit Balances 6,586 7,472 11,504 13,879 13,052
Inventories 537 1,314 2,139 1,000 1,092
Investments Available for sale 12,268 14,826 15,439 15,119 17,825
Investment Held for trading 952 3,306 5,708 7,701 8,202
Investment in Associated Companies 398 807 1,921 2,379 4,724
Investment Portfolios 12,250 7,015 2,594 2,600 2,800
Investment Properties 12,854 14,300 15,284 18,317 18,054
Fixed Assets 901 1,874 3,020 2,409 2,512
Total Assets 47,204 51,436 58,122 64,749 73,242
Due to Banks 0 375 196 152 235
A/P & Other Credit Balances 4,461 5,422 7,957 8,587 10,817
Other Liabilities 493 559 669 790 1,322
Total Liabilities 4,954 6,357 8,823 9,529 12,374
Equity 42,249 45,079 49,300 55,220 60,869
Revenues 13,278 15,380 22,785 30,030 29,464
Cost of Revenues 10,757 12,484 20,287 27,264 26,143
Gross Profit 2,522 2,895 2,498 2,766 3,321
Operating Expenses 534 567 654 811 734
Operating Profit 1,988 2,328 1,844 1,955 2,588
Net Investment Income 3,511 4,295 5,816 4,633 822
Share of Results in Associated Co. 0 0 272 415 6,914
Other Income 4 44 63 1,514 215
Other Expenses 201 221 263 295 407
Net Profit
Key Ratios
5,301 6,446 7,732 8,221 10,131
2003 2004 2005 2006 2007
Return On Assets 11.23% 12.53% 13.30% 12.70% 13.83%
Return On Equity 12.55% 14.30% 15.68% 14.89% 16.64%
Gross Profit Margin 18.99% 18.83% 10.96% 9.21% 11.27%
Operating Profit Margin 14.97% 15.14% 8.09% 6.51% 8.78%
Investment Properties / Total Assets 27.23% 27.80% 26.30% 28.29% 24.65%
Investments / Total Assets 54.80% 50.46% 44.15% 42.94% 45.81%
Equity / Total Assets 89.50% 87.64% 84.82% 85.28% 83.11%
Historical Share Data YTD
2004 2005 2006 2007 22-Jun-08
Market Capitalization (KD thousand) 76,440 91,967 76,570 77,234 117,997
Closing Share Price (KD) 0.240 0.275 0.212 0.198 0.275
Highest Price for the Period (KD) 0.270 0.330 0.290 0.216 0.315
Lowest Price for the Period (KD) 0.204 0.202 0.180 0.166 0.196
Volume (Shares thousand) 268,050 324,970 60,460 195,100 495,810
Value (KD thousand) 65,719 85,756 14,226 37,035 157,224
No. of Trades 6,437 8,521 2,108 4,311 8,774
EPS (KD) 0.019 0.021 0.021 0.026 0.026
Book Value Per Share (KD) 0.142 0.147 0.153 0.156 0.156
Dividend Per Share (KD) 0.010 0.010 0.010 0.010 NA
Price to Earnings Multiple (X) #
14.15 12.84 13.05 10.59 10.59
Price to Book Value Multiple (X) #
1.94 1.87 1.80 1.76 1.76
Dividend Yield (%) #
3.64 3.64 3.64 3.64 3.64
KD
0.320
0.300
0.280
0.260
0.240
0.220
0.200
0.180
0.160
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
52-Week Price Chart Rel. to KAMCO TRW Index
ERESCO 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