Kuwait Corporate Fact Sheet

The Commercial Real Estate Co. Fact Sheet
Real Estate Sector
Reuters Code: CRCK.KW Current Price (KD) : 0.226
Key Facts
KD '000 2003 2004 2005 2006 2007
Cash & Cash Equivalent 3,094 5,759 5,185 38,589 535
A/R & Other Debit Balances 6,138 6,530 14,217 27,417 25,429
Investments in Real Estate 102,295 114,150 155,230 171,746 201,389
Investments Held for Trading 7,252 851 1,739 80 68
Investments Available for Sale 82,801 46,521 46,342 27,453 41,373
Investments in Associates & Unconsolidated Sub. 10,715 25,436 28,946 38,820 61,853
Properties & Equipment 29,453 33,928 31,866 6,971 6,846
Other Assets 3,301 482 469 0 0
Total Assets 245,049 233,657 283,993 311,077 337,493
A/P & Other Credit Balances 9,175 11,513 19,598 38,605 25,979
Total Loans & Facilities 25,699 34,659 66,911 73,166 85,216
Other Liabilities 382 484 649 785 843
Total Liabilities 35,256 46,656 87,158 112,556 112,039
Minority Interest 1,254 1,325 2,042 0 0
Equity 208,539 185,677 194,793 198,521 225,455
Revenues generated from Real Estate Investments 25,943 17,358 23,791 18,187 42,637
Investment Income (Loss) 5,845 18,354 19,562 26,133 15,103
Total Revenues 31,788 35,712 43,352 44,320 57,740
Operating Expenses 6,400 7,715 8,814 7,428 11,536
Other Expenses 507 1,056 1,411 1,265 1,553
Net Profit 24,882 26,940 33,127 35,628 44,650
Key Ratios
KAMCO Research
June 22, 2008
2003 2004 2005 2006 2007
Return On Assets 10.15% 11.53% 11.66% 11.45% 13.23%
Return On Equity 11.93% 14.51% 17.01% 17.95% 19.80%
Net Profit Margin 78.27% 75.44% 76.41% 80.39% 77.33%
Investments in Real Estate / Total Assets 41.74% 48.85% 54.66% 55.21% 59.67%
Equity Investments / Total Assets 41.12% 31.16% 27.12% 21.33% 30.61%
Total Debt / Equity 12.32% 18.67% 34.35% 36.86% 37.80%
Historical Share Data YTD
2004 2005 2006 2007 22-Jun-08
Market Capitalization (KD thousand) 420,495 390,024 382,102 361,991 362,187
Closing Share Price (KD) 0.345 0.320 0.285 0.270 0.226
Highest Price for the Period (KD) 0.460 0.435 0.380 0.360 0.305
Lowest Price for the Period (KD) 0.335 0.234 0.265 0.255 0.220
Volume (Shares thousand) 85,985 1,181,990 773,070 910,920 349,530
Value (KD thousand) 32,339 381,109 244,654 274,302 94,975
No. of Trades 1,240 22,959 16,304 11,739 3,901
EPS (KD) 0.023 0.025 0.027 0.032 0.032
Book Value Per Share (KD) 0.158 0.167 0.153 0.161 0.161
Dividend Per Share (KD) 0.009 0.011 0.012 0.014 NA
Price to Earnings Multiple (X) #
9.95 9.01 8.31 7.13 7.13
Price to Book Value Multiple (X) #
1.43 1.35 1.48 1.41 2.26
Dividend Yield (%) #
3.76 4.87 5.31 6.19 6.19
KD
0.300
0.290
0.280
0.270
0.260
0.250
0.240
0.230
0.220
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
ALTIJARIA 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
N/A: Not Available. 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