Kingdom Holding Co. — Earnings Release 2010

Feb 22, 2011

Kingdom Holding Company Announces the Year End Consolidated Financial Results for the Year Ended December 31, 2010

4280 · 22/02/2011 18:42:42 · Announcement #20462 · View on Saudi Exchange

Kingdom Holding Company Announces the Year End Consolidated Financial Results for the Year Ended December 31, 2010

Kingdom Holding Company announces the interim consolidated financial results for the twelve months period ended December 31, 2010:

1. Net income for the twelve month period amounts to SR 605.2 million compared to the net income of SR 402.6 million for the same period in 2009, which represents an increase of 50.3%

2. Earnings per share for the twelve months period, amounted to SR 0.15 compared to SR 0.11 for the same period in 2009. Note that the earnings per share computation for the two periods were made by using the weighted average number of shares of 3,997 million shares.

3. Gross profit for the twelve months period was SR 979 million, compared to SR 1,164.7 million for the same period in 2009, which represents a decrease of 15.9%.

4. Income from operations for the twelve months period was SR 692 million, compared to SR 549 million for the same period in 2009, which represents an increase of 26%.

5. The reason for the change in net income is due to an increase in income from investment, the improvement of hotel operations, and operations in associates, despite the decrease in dividends from the Companys investments in the international markets.

6. The reason for the decrease in total revenue and total costs and expenses is due to a change in reporting for our investment in Fairmont Raffles International and Real Estate Investment Company Ltd., from consolidated method to the equity method made in the second quarter of the current year.

7. The external auditors report included the following emphasis of matter: We draw attention to Note 9 to the interim consolidated financial statements pertaining to the transfer of certain available for sale investments from the principal shareholder to the Company, and the impact of such a transaction on the carrying value of the Companys investments.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.