NADEC turns to profit of SAR 95.5 mln in 2022; Q4 at SAR 25.1 mln

19/02/2023 Argaam Exclusive

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National Agricultural Development Co. (NADEC) swung to a net profit after Zakat and tax of SAR 95.5 million by the end of 2022, from a net loss after Zakat and tax of SAR 285 million a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	2,272.33	2,694.25	18.6 %
Gross Income	630.84	808.33	28.1 %
Operating Income	(6.32)	159.55	2625.6 %
Net Income	(285.03)	95.49	133.5 %
Average Shares	212.89	212.89	-
EPS (Riyals)	(1.34)	0.45	133.5 %

The company’s revenue rose 18.57% year-on-year (YoY) in 2022 due to a 19.08% increase in sales of the dairy and food processing business and a 7.76% rise in the sales of the agricultural segment.

However, the cost of sales fell 2.24% YoY amid a decrease in the provision for slow and non-moving inventories.

In addition, the general and administrative expenses declined 6.12% YoY in 2022 due to a reduction in professional and consultancy fees. This decrease was partially offset by increased information technology expenses and employee benefit costs.

Selling and marketing expenses increased 0.88% YoY in 2022 due to the increase in distribution costs. Finance cost increased 52.55% YoY, mainly on account of an increase in the interest rates due to higher SAIBOR YoY.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	571.86	670.30	17.2 %
Gross Income	108.40	205.39	89.5 %
Operating Income	(67.24)	38.17	156.8 %
Net Income	(277.26)	25.12	109.1 %
Average Shares	212.89	212.89	-
EPS (Riyals)	(1.30)	0.12	109.1 %

Item	Q3 2022	Q4 2022	Change‬
Revenues	702.67	670.30	(4.6 %)
Gross Income	220.39	205.39	(6.8 %)
Operating Income	48.97	38.17	(22.0 %)
Net Income	27.75	25.12	(9.5 %)
Average Shares	212.89	212.89	-
EPS (Riyals)	0.13	0.12	(9.5 %)

NADEC turned to a net profit after Zakat and tax of SAR 25.1 million for Q4 2022, against a net loss after Zakat and tax of SAR 277.26 million in the same quarter last year.

The company’s net loss after Zakat and tax narrowed from SAR 27.76 million in Q3 2022.

Total shareholders’ equity, no minority interest, grew 8.31% to SAR 1.29 billion in 2022 from SAR 1.19 billion in 2021.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2013	424.48	15.3 %	161.86	16.1 %	26.28	17.8 %
Q2 2013	543.00	10.8 %	184.49	10.1 %	37.72	0.7 %
Q3 2013	512.17	12.1 %	189.43	5.1 %	41.47	(2.1 %)
Q4 2013	448.44	8.7 %	168.89	13.1 %	24.72	22.9 %
2013	1,928.09	11.6 %	704.67	10.7 %	130.19	6.5 %
Q1 2014	484.04	14.0 %	181.66	12.2 %	34.41	30.9 %
Q2 2014	575.64	6.0 %	209.51	13.6 %	34.61	(8.3 %)
Q3 2014	504.62	(1.5 %)	202.12	6.7 %	48.70	17.4 %
Q4 2014	508.06	13.3 %	181.69	7.6 %	30.03	21.5 %
2014	2,072.36	7.5 %	774.97	10.0 %	147.76	13.5 %
Q1 2015	534.41	10.4 %	201.91	11.2 %	36.82	7.0 %
Q2 2015	689.65	19.8 %	258.42	23.3 %	49.92	44.2 %
Q3 2015	566.66	12.3 %	241.42	19.4 %	56.31	15.6 %
Q4 2015	553.18	8.9 %	248.35	36.7 %	43.29	44.1 %
2015	2,328.59	12.4 %	942.56	21.6 %	171.38	16.0 %
Q1 2016	509.36	(4.7 %)	202.88	0.5 %	39.53	7.4 %
Q2 2016	638.59	(7.4 %)	245.44	(5.0 %)	52.82	5.8 %
Q3 2016	550.24	(2.9 %)	203.74	(15.6 %)	52.15	(7.4 %)
Q4 2016	478.32	(13.5 %)	186.58	(24.9 %)	30.39	(29.8 %)
2016	2,176.49	(6.5 %)	837.86	(11.1 %)	173.03	1.0 %
Q1 2017	481.94	(5.4 %)	183.29	(9.7 %)	23.14	(41.5 %)
Q2 2017	578.64	(9.4 %)	203.13	(17.2 %)	28.67	(45.7 %)
Q3 2017	510.76	(7.2 %)	179.16	(12.1 %)	26.24	(49.7 %)
Q4 2017	461.14	(3.6 %)	165.50	(11.3 %)	1.98	(93.5 %)
2017	2,032.48	(6.6 %)	731.08	(12.7 %)	82.08	(52.6 %)
Q1 2018	474.09	(1.6 %)	162.54	(11.3 %)	19.36	(16.3 %)
Q2 2018	559.72	(3.3 %)	212.38	4.6 %	39.58	38.1 %
Q3 2018	574.71	12.5 %	221.26	23.5 %	58.99	124.8 %
Q4 2018	487.52	5.7 %	178.90	8.1 %	12.54	534.4 %
2018	2,096.03	3.1 %	775.08	6.0 %	130.47	59.0 %
Q1 2019	530.47	11.9 %	203.27	25.1 %	42.88	121.5 %
Q2 2019	604.19	7.9 %	227.57	7.2 %	53.48	35.1 %
Q3 2019	578.45	0.7 %	218.31	(1.3 %)	62.51	6.0 %
Q4 2019	512.15	5.1 %	195.44	9.2 %	33.01	163.2 %
2019	2,225.26	6.2 %	844.60	9.0 %	191.88	47.1 %
Q1 2020	559.15	5.4 %	202.47	(0.4 %)	36.07	(15.9 %)
Q2 2020	608.06	0.6 %	211.64	(7.0 %)	33.04	(38.2 %)
Q3 2020	587.23	1.5 %	182.87	(16.2 %)	10.01	(84.0 %)
Q4 2020	548.62	7.1 %	128.87	(34.1 %)	(14.98)	(145.4 %)
2020	2,303.06	3.5 %	725.84	(14.1 %)	64.14	(66.6 %)
Q1 2021	540.96	(3.3 %)	174.60	(13.8 %)	24.66	(31.6 %)
Q2 2021	548.74	(9.8 %)	167.19	(21.0 %)	11.52	(65.1 %)
Q3 2021	610.76	4.0 %	180.66	(1.2 %)	24.74	147.2 %
Q4 2021	571.86	4.2 %	108.40	(15.9 %)	(67.24)	(348.9 %)
2021	2,272.33	(1.3 %)	630.84	(13.1 %)	(6.32)	(109.8 %)
Q1 2022	613.53	13.4 %	191.19	9.5 %	34.98	41.8 %
Q2 2022	707.75	29.0 %	191.37	14.5 %	37.43	224.9 %
Q3 2022	702.67	15.0 %	220.39	22.0 %	48.97	97.9 %
Q4 2022	670.30	17.2 %	205.39	89.5 %	38.17	156.8 %
2022	2,694.25	18.6 %	808.33	28.1 %	159.55	2625.6 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	1,928.09	11.6 %	704.67	10.7 %	130.19	6.5 %
2014	2,072.36	7.5 %	774.97	10.0 %	147.76	13.5 %
2015	2,328.59	12.4 %	942.56	21.6 %	171.38	16.0 %
2016	2,176.49	(6.5 %)	837.86	(11.1 %)	173.03	1.0 %
2017	2,032.48	(6.6 %)	731.08	(12.7 %)	82.08	(52.6 %)
2018	2,096.03	3.1 %	775.08	6.0 %	130.47	59.0 %
2019	2,225.26	6.2 %	844.60	9.0 %	191.88	47.1 %
2020	2,303.06	3.5 %	725.84	(14.1 %)	64.14	(66.6 %)
2021	2,272.33	(1.3 %)	630.84	(13.1 %)	(6.32)	(109.8 %)
2022	2,694.25	18.6 %	808.33	28.1 %	159.55	2625.6 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2013	22.35	4.0 %	0.10	2.20	20.14	0.09
Q2 2013	30.00	10.3 %	0.14	4.35	25.66	0.12
Q3 2013	33.02	1.1 %	0.16	2.63	30.38	0.14
Q4 2013	14.81	3.6 %	0.07	(1.45)	16.26	0.08
2013	100.18	4.7 %	0.47	7.73	92.44	0.43
Q1 2014	24.77	10.9 %	0.12	-	24.77	0.12
Q2 2014	28.00	(6.7 %)	0.13	-	28.00	0.13
Q3 2014	34.41	4.2 %	0.16	-	34.41	0.16
Q4 2014	20.02	35.2 %	0.09	-	20.02	0.09
2014	107.20	7.0 %	0.50	-	107.20	0.50
Q1 2015	26.16	5.6 %	0.12	-	26.16	0.12
Q2 2015	35.10	25.4 %	0.16	-	35.10	0.16
Q3 2015	45.69	32.8 %	0.21	-	45.69	0.21
Q4 2015	34.37	71.7 %	0.16	(3.97)	38.35	0.18
2015	141.32	31.8 %	0.66	(3.97)	145.30	0.68
Q1 2016	23.75	(9.2 %)	0.11	(1.86)	25.60	0.12
Q2 2016	35.57	1.3 %	0.17	(3.45)	39.02	0.18
Q3 2016	28.65	(37.3 %)	0.13	(4.88)	33.53	0.16
Q4 2016	6.26	(81.8 %)	0.03	(10.85)	17.11	0.08
2016	94.23	(33.3 %)	0.44	(21.03)	115.25	0.54
Q1 2017	4.34	(81.7 %)	0.02	-	4.34	0.02
Q2 2017	25.89	(27.2 %)	0.12	22.00	3.89	0.02
Q3 2017	17.33	(39.5 %)	0.08	7.69	9.63	0.05
Q4 2017	(7.61)	(221.5 %)	(0.04)	-	(7.61)	(0.04)
2017	39.94	(57.6 %)	0.19	29.69	10.25	0.05
Q1 2018	(5.02)	(215.9 %)	(0.02)	-	(5.02)	(0.02)
Q2 2018	19.51	(24.6 %)	0.09	-	19.51	0.09
Q3 2018	35.13	102.8 %	0.17	-	35.13	0.17
Q4 2018	(47.88)	(529.4 %)	(0.22)	(52.68)	4.79	0.02
2018	1.74	(95.6 %)	0.01	(52.68)	54.42	0.26
Q1 2019	(3.67)	26.9 %	(0.02)	(20.77)	17.10	0.08
Q2 2019	7.07	(63.8 %)	0.03	(24.71)	31.77	0.15
Q3 2019	49.32	40.4 %	0.23	2.35	46.97	0.22
Q4 2019	(60.01)	(25.3 %)	(0.28)	(79.80)	19.79	0.09
2019	(7.30)	(518.9 %)	(0.03)	(122.92)	115.63	0.54
Q1 2020	18.19	595.3 %	0.09	-	18.19	0.09
Q2 2020	131.63	1763.1 %	0.62	111.61	20.01	0.09
Q3 2020	(44.89)	(191.0 %)	(0.21)	(43.89)	(1.01)	0.00
Q4 2020	(69.27)	(15.4 %)	(0.33)	(57.25)	(12.02)	(0.06)
2020	35.66	588.6 %	0.17	10.48	25.18	0.12
Q1 2021	6.37	(65.0 %)	0.03	-	6.37	0.03
Q2 2021	(17.35)	(113.2 %)	(0.08)	-	(17.35)	(0.08)
Q3 2021	3.21	107.2 %	0.02	-	3.21	0.02
Q4 2021	(277.26)	(300.3 %)	(1.30)	(148.59)	(128.66)	(0.60)
2021	(285.03)	(899.4 %)	(1.34)	(148.59)	(136.43)	(0.64)
Q1 2022	15.12	137.6 %	0.07	-	15.12	0.07
Q2 2022	27.49	258.5 %	0.13	-	27.49	0.13
Q3 2022	27.75	763.6 %	0.13	-	27.75	0.13
Q4 2022	25.12	109.1 %	0.12	-	25.12	0.12
2022	95.49	133.5 %	0.45	-	95.49	0.45

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	100.18	4.7 %	0.47	7.73	92.44	0.43
2014	107.20	7.0 %	0.50	-	107.20	0.50
2015	141.32	31.8 %	0.66	(3.97)	145.30	0.68
2016	94.23	(33.3 %)	0.44	(21.03)	115.25	0.54
2017	39.94	(57.6 %)	0.19	29.69	10.25	0.05
2018	1.74	(95.6 %)	0.01	(52.68)	54.42	0.26
2019	(7.30)	(518.9 %)	(0.03)	(122.92)	115.63	0.54
2020	35.66	588.6 %	0.17	10.48	25.18	0.12
2021	(285.03)	(899.4 %)	(1.34)	(148.59)	(136.43)	(0.64)
2022	95.49	133.5 %	0.45	-	95.49	0.45

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	36.94 %	17.69 %	5.05 %
Q2 2013	36.79 %	17.39 %	4.85 %
Q3 2013	36.20 %	17.13 %	4.65 %
Q4 2013	36.55 %	17.30 %	4.79 %
2013	36.55 %	17.30 %	4.79 %
Q1 2014	36.45 %	17.46 %	4.88 %
Q2 2014	37.10 %	17.35 %	4.92 %
Q3 2014	37.87 %	17.98 %	5.14 %
Q4 2014	37.40 %	18.12 %	5.17 %
2014	37.40 %	18.12 %	5.17 %
Q1 2015	37.46 %	18.15 %	5.12 %
Q2 2015	37.74 %	18.33 %	5.17 %
Q3 2015	38.43 %	18.61 %	5.52 %
Q4 2015	40.54 %	19.28 %	6.20 %
2015	40.48 %	18.76 %	6.24 %
Q1 2016	41.01 %	20.08 %	6.24 %
Q2 2016	41.37 %	21.22 %	6.55 %
Q3 2016	39.99 %	21.73 %	6.06 %
Q4 2016	38.53 %	22.08 %	5.30 %
2016	38.50 %	21.99 %	5.30 %
Q1 2017	38.11 %	22.18 %	4.37 %
Q2 2017	37.18 %	21.65 %	2.82 %
Q3 2017	36.70 %	21.04 %	1.71 %
Q4 2017	35.97 %	20.18 %	0.50 %
2017	35.97 %	20.28 %	0.50 %
Q1 2018	35.08 %	19.38 %	0.04 %
Q2 2018	35.88 %	19.59 %	0.82 %
Q3 2018	36.80 %	19.85 %	2.03 %
Q4 2018	36.98 %	19.22 %	2.60 %
2018	36.98 %	19.22 %	2.60 %
Q1 2019	37.90 %	19.55 %	3.56 %
Q2 2019	37.83 %	19.83 %	4.04 %
Q3 2019	37.63 %	19.99 %	4.57 %
Q4 2019	37.96 %	21.11 %	5.20 %
2019	37.96 %	21.11 %	5.20 %
Q1 2020	37.44 %	20.91 %	5.18 %
Q2 2020	36.67 %	20.23 %	4.65 %
Q3 2020	34.96 %	17.94 %	2.51 %
Q4 2020	31.52 %	15.49 %	1.09 %
2020	31.52 %	15.49 %	1.09 %
Q1 2021	30.55 %	14.84 %	0.58 %
Q2 2021	29.36 %	13.99 %	(1.08 %)
Q3 2021	28.96 %	14.30 %	(0.88 %)
Q4 2021	27.76 %	11.60 %	(6.00 %)
2021	27.76 %	11.60 %	(6.00 %)
Q1 2022	27.61 %	11.42 %	(5.44 %)
Q2 2022	26.82 %	11.44 %	(3.31 %)
Q3 2022	27.40 %	11.63 %	(2.25 %)
Q4 2022	30.00 %	14.77 %	3.54 %
2022	30.00 %	14.77 %	3.54 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	36.55 %	17.30 %	4.79 %
2014	37.40 %	18.12 %	5.17 %
2015	40.48 %	18.76 %	6.24 %
2016	38.50 %	21.99 %	5.30 %
2017	35.97 %	20.28 %	0.50 %
2018	36.98 %	19.22 %	2.60 %
2019	37.96 %	21.11 %	5.20 %
2020	31.52 %	15.49 %	1.09 %
2021	27.76 %	11.60 %	(6.00 %)
2022	30.00 %	14.77 %	3.54 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	38.13 %	17.87 %	4.75 %
Q2 2013	33.98 %	15.95 %	4.73 %
Q3 2013	36.99 %	18.29 %	5.93 %
Q4 2013	37.66 %	17.27 %	3.63 %
Q1 2014	37.53 %	18.46 %	5.12 %
Q2 2014	36.40 %	15.64 %	4.86 %
Q3 2014	40.06 %	20.84 %	6.82 %
Q4 2014	35.76 %	17.91 %	3.94 %
Q1 2015	37.78 %	18.55 %	4.90 %
Q2 2015	37.47 %	16.63 %	5.09 %
Q3 2015	42.60 %	21.70 %	8.06 %
Q4 2015	44.89 %	20.81 %	6.93 %
Q1 2016	39.83 %	22.15 %	5.03 %
Q2 2016	38.43 %	20.40 %	6.11 %
Q3 2016	37.03 %	23.81 %	6.09 %
Q4 2016	39.01 %	22.24 %	3.58 %
Q1 2017	38.03 %	22.61 %	0.90 %
Q2 2017	35.10 %	18.33 %	0.67 %
Q3 2017	35.08 %	21.50 %	1.89 %
Q4 2017	35.89 %	18.49 %	(1.65 %)
Q1 2018	34.28 %	19.22 %	(1.06 %)
Q2 2018	37.95 %	19.06 %	3.49 %
Q3 2018	38.50 %	22.24 %	6.11 %
Q4 2018	36.70 %	15.85 %	0.98 %
Q1 2019	38.32 %	20.56 %	3.22 %
Q2 2019	37.67 %	20.09 %	5.26 %
Q3 2019	37.74 %	22.84 %	8.12 %
Q4 2019	38.16 %	20.91 %	3.86 %
Q1 2020	36.21 %	19.78 %	3.25 %
Q2 2020	34.81 %	17.57 %	3.29 %
Q3 2020	31.14 %	13.96 %	(0.17 %)
Q4 2020	23.49 %	10.44 %	(2.19 %)
Q1 2021	32.28 %	17.20 %	1.18 %
Q2 2021	30.47 %	14.41 %	(3.16 %)
Q3 2021	29.58 %	15.09 %	0.53 %
Q4 2021	18.95 %	(0.11 %)	(22.50 %)
Q1 2022	31.16 %	15.82 %	2.46 %
Q2 2022	27.04 %	13.82 %	3.88 %
Q3 2022	31.37 %	15.32 %	3.95 %
Q4 2022	30.64 %	14.23 %	3.75 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2013	212.89	0.45	0.42	5.19
Q2 2013	212.89	0.47	0.42	5.19
Q3 2013	212.89	0.47	0.41	5.34
Q4 2013	212.89	0.47	0.43	5.41
Q1 2014	212.89	0.48	0.46	5.53
Q2 2014	212.89	0.47	0.47	5.66
Q3 2014	212.89	0.48	0.49	5.82
Q4 2014	212.89	0.50	0.50	5.91
Q1 2015	212.89	0.51	0.51	5.87
Q2 2015	212.89	0.54	0.54	6.03
Q3 2015	212.89	0.60	0.60	6.25
Q4 2015	212.89	0.66	0.68	6.41
Q1 2016	212.89	0.65	0.68	6.48
Q2 2016	212.89	0.65	0.70	6.52
Q3 2016	212.89	0.57	0.64	6.66
Q4 2016	212.89	0.44	0.54	6.66
Q1 2017	212.89	0.35	0.44	6.68
Q2 2017	212.89	0.31	0.28	6.70
Q3 2017	212.89	0.25	0.16	6.78
Q4 2017	212.89	0.19	0.05	6.70
Q1 2018	212.89	0.14	0.00	6.67
Q2 2018	212.89	0.11	0.08	6.76
Q3 2018	212.89	0.20	0.20	6.93
Q4 2018	212.89	0.01	0.26	6.79
Q1 2019	212.89	0.01	0.36	6.78
Q2 2019	212.89	(0.04)	0.42	6.81
Q3 2019	212.89	0.02	0.47	7.04
Q4 2019	212.89	(0.03)	0.54	6.77
Q1 2020	212.89	0.07	0.55	6.85
Q2 2020	212.89	0.65	0.49	7.47
Q3 2020	212.89	0.21	0.27	7.26
Q4 2020	212.89	0.17	0.12	6.94
Q1 2021	212.89	0.11	0.06	6.97
Q2 2021	212.89	(0.59)	(0.11)	6.89
Q3 2021	212.89	(0.36)	(0.09)	6.91
Q4 2021	212.89	(1.34)	(0.64)	5.62
Q1 2022	212.89	(1.30)	(0.60)	5.69
Q2 2022	212.89	(1.09)	(0.39)	5.82
Q3 2022	212.89	(0.97)	(0.27)	5.95
Q4 2022	212.89	0.45	0.45	6.08

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	212.89	0.47	0.43	5.41
2014	212.89	0.50	0.50	5.91
2015	212.89	0.66	0.68	6.41
2016	212.89	0.44	0.54	6.66
2017	212.89	0.19	0.05	6.70
2018	212.89	0.01	0.26	6.79
2019	212.89	(0.03)	0.54	6.77
2020	212.89	0.17	0.12	6.94
2021	212.89	(1.34)	(0.64)	5.62
2022	212.89	0.45	0.45	6.08

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	23.86	25.56	2.08
Q2 2013	22.68	25.28	2.04
Q3 2013	24.64	27.93	2.16
Q4 2013	25.63	27.77	2.23
Q1 2014	33.06	34.94	2.88
Q2 2014	40.87	41.35	3.41
Q3 2014	44.06	43.45	3.63
Q4 2014	28.33	28.33	2.41
Q1 2015	35.79	35.79	3.11
Q2 2015	31.73	31.73	2.86
Q3 2015	25.57	25.57	2.44
Q4 2015	24.77	24.10	2.57
Q1 2016	16.88	16.20	1.70
Q2 2016	18.70	17.53	1.88
Q3 2016	17.66	15.83	1.52
Q4 2016	30.52	24.95	2.03
Q1 2017	45.43	36.17	2.39
Q2 2017	49.85	55.16	2.28
Q3 2017	66.87	More than 100	2.49
Q4 2017	97.21	More than 100	2.72
Q1 2018	More than 100	More than 100	3.30
Q2 2018	More than 100	More than 100	2.98
Q3 2018	90.13	90.13	2.57
Q4 2018	More than 100	64.96	2.44
Q1 2019	More than 100	42.34	2.25
Q2 2019	NEG	32.71	2.00
Q3 2019	More than 100	31.49	2.11
Q4 2019	NEG	28.65	2.30
Q1 2020	More than 100	22.52	1.80
Q2 2020	28.94	38.36	2.53
Q3 2020	More than 100	81.02	2.99
Q4 2020	More than 100	More than 100	2.90
Q1 2021	More than 100	More than 100	3.06
Q2 2021	NEG	NEG	3.95
Q3 2021	NEG	NEG	3.58
Q4 2021	NEG	NEG	3.66
Q1 2022	NEG	NEG	3.60
Q2 2022	NEG	NEG	3.65
Q3 2022	NEG	NEG	2.93
Q4 2022	30.80	30.80	2.27

Period	P/E	Adjusted P/E	Price/book
2013	25.63	27.77	2.23
2014	28.33	28.33	2.41
2015	24.77	24.10	2.57
2016	30.52	24.95	2.03
2017	97.21	More than 100	2.72
2018	More than 100	64.96	2.44
2019	NEG	28.65	2.30
2020	More than 100	More than 100	2.90
2021	NEG	NEG	3.66
2022	30.80	30.80	2.27

Business Segments (Million)

Compared With The

Period	Diary and food production Sector	Agricultural Activity	Adjustments
Q1 2013	380.00	45.00	-
Q2 2013	419.00	124.00	-
Q3 2013	472.00	40.00	-
Q4 2013	396.00	52.00	-
Q1 2014	450.00	34.00	-
Q2 2014	494.00	82.00	-
Q3 2014	475.00	29.00	-
Q4 2014	457.00	51.00	-
Q1 2015	478.00	56.00	-
Q2 2015	563.00	134.00	-
Q3 2015	468.00	54.00	-
Q4 2015	514.00	62.00	-
Q1 2016	477.97	50.36	(18.98)
Q2 2016	557.12	153.10	(71.63)
Q3 2016	501.92	130.07	(81.74)
Q4 2016	440.00	115.34	(77.02)
Q1 2017	454.05	49.71	(21.83)
Q2 2017	522.99	155.92	(100.26)
Q3 2017	463.36	140.82	(93.43)
Q4 2017	419.96	116.16	(74.98)
Q1 2018	435.05	72.91	(33.88)
Q2 2018	485.11	149.04	(74.44)
Q3 2018	506.35	155.11	(86.76)
Q4 2018	460.47	65.34	(38.29)
Q1 2019	502.12	50.71	(22.36)
Q2 2019	559.68	59.21	(14.69)
Q3 2019	542.40	55.99	(19.94)
Q4 2019	495.71	33.58	(17.15)
Q1 2020	529.79	48.62	(19.26)
Q2 2020	572.05	49.27	(13.26)
Q3 2020	557.70	54.97	(25.44)
Q4 2020	502.70	68.38	(22.46)
Q3 2021	587.74	46.93	(23.91)
Q4 2021	540.45	44.65	(13.24)
Q1 2022	596.91	33.17	(16.55)
Q2 2022	660.80	62.49	(15.54)
Q3 2022	687.01	24.59	(8.93)
Q4 2022	655.77	23.08	(8.55)

Period	Diary and food production Sector	Agricultural Activity	Adjustments
2013	1,667.00	261.00	-
2014	1,876.00	196.00	-
2015	2,023.00	306.00	-
2016	1,977.00	448.86	(249.36)
2017	1,860.36	462.61	(290.49)
2018	1,886.99	442.40	(233.36)
2019	2,099.91	199.49	(74.15)
2020	2,162.24	221.24	(80.42)
2021	2,196.72	162.32	(86.72)
2022	2,600.49	143.33	(49.57)

Financial Ratios

	Current
Market Cap (M Riyal)	7,305.72
Enterprise Value (EV) (M)	6,032.22
Shares Outstanding ((M))	301.64
EPS ( Riyal) (TTM)	1.49
Book Value (BV) ( Riyal)	13.00
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	17.21
P/E (TTM)	16.21
Price/book	1.86
Return on Average Assets (%) (TTM)	9.3
Return on Average Equity (%) (TTM)	16.7

National Agricultural Development Co. (NADEC)

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NADEC turns to profit of SAR 95.5 mln in 2022; Q4 at SAR 25.1 mln

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Financials (M)

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Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

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Per Share Data (Riyal)

Per Share Data (Riyal)

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Revenue by Business Segment (Latest) 2022 Q4

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National Agricultural Development Co. (NADEC)

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NADEC turns to profit of SAR 95.5 mln in 2022; Q4 at SAR 25.1 mln

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2022

Revenue by Business Segment (Latest) 2022 Q4

Financial Ratios

Share Price

National Agricultural Development Co. (NADEC)

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Business Segments (Million)