Al-Jouf Agricultural profit rises 32% to SAR 20.1 mln in Q1 2023

Al-Jouf Agricultural profit rises 32% to SAR 20.1 mln in Q1 2023

08/05/2023 Argaam Exclusive

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Al-Jouf Agricultural Development Co. reported a net profit of SAR 20.1 million for Q1 2023, a 32% increase from SAR 15.2 million in the prior-year period.   



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 60.41 104.44 72.9 %
Gross Income 31.88 37.81 18.6 %
Operating Income 17.90 21.43 19.7 %
Net Income 15.23 20.08 31.8 %
Average Shares 30.00 30.00 -
EPS (Riyals) 0.51 0.67 31.8 %

The profit growth was spurred by higher sales and an increase in other revenues, despite a rise in selling and distribution cost, increase in general and administrative costs, and higher Zakat expenses.

 

Total shareholders’ equity, no minority interest, amounted to SAR 672.6 million at the end of Q1 2023, compared to SAR 642.9 million a year before.

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2014 46.84 23.2 % 15.94 11.5 % 5.49 38.3 %
Q2 2014 69.11 (3.1 %) 33.15 (0.8 %) 23.21 1.6 %
Q3 2014 124.13 2.4 % 51.25 1.5 % 38.16 6.4 %
Q4 2014 110.23 (0.2 %) 51.53 (5.1 %) 37.13 12.6 %
Q1 2015 53.18 13.5 % 18.28 14.7 % 8.23 50.0 %
Q2 2015 74.26 7.4 % 31.70 (4.4 %) 20.51 (11.6 %)
Q3 2015 123.03 (0.9 %) 57.47 12.1 % 44.78 17.3 %
Q4 2015 118.49 7.5 % 14.56 (71.7 %) (0.36) (101.0 %)
Q1 2016 56.31 5.9 % 19.17 4.8 % 10.01 21.6 %
Q2 2016 74.58 0.4 % 34.78 9.7 % 23.71 15.6 %
Q3 2016 120.83 (1.8 %) 47.45 (17.4 %) 34.45 (23.1 %)
Q4 2016 128.50 8.4 % 30.82 111.7 % 4.17 1268.6 %
Q1 2017 48.20 (14.4 %) 13.26 (30.8 %) 7.17 (28.4 %)
Q2 2017 67.21 (9.9 %) 22.25 (36.0 %) 11.63 (51.0 %)
Q3 2017 114.03 (5.6 %) 23.46 (50.6 %) 12.78 (62.9 %)
Q4 2017 76.18 (40.7 %) 15.42 (50.0 %) (1.16) (127.7 %)
Q1 2018 41.64 (13.6 %) (14.92) (212.6 %) (23.50) (427.8 %)
Q2 2018 79.94 18.9 % 43.12 93.8 % 29.61 154.6 %
Q3 2018 126.24 10.7 % 44.18 88.3 % 26.88 110.3 %
Q4 2018 111.12 45.9 % 31.00 101.0 % 16.56 1533.8 %
Q1 2019 49.64 19.2 % 16.00 207.2 % 7.52 132.0 %
Q2 2019 44.69 (44.1 %) 9.39 (78.2 %) 1.26 (95.7 %)
Q3 2019 66.98 (46.9 %) 5.74 (87.0 %) (5.41) (120.1 %)
Q4 2019 63.13 (43.2 %) 9.37 (69.8 %) (5.12) (130.9 %)
Q1 2020 46.13 (7.1 %) 19.16 19.8 % 11.76 56.4 %
Q2 2020 71.97 61.0 % 28.98 208.7 % 20.07 1487.7 %
Q3 2020 49.05 (26.8 %) 4.77 (16.9 %) (8.03) (48.4 %)
Q4 2020 56.06 (11.2 %) 11.38 21.4 % (9.22) (79.9 %)
Q1 2021 61.36 33.0 % 12.48 (34.9 %) 3.79 (67.8 %)
Q2 2021 55.70 (22.6 %) 16.75 (42.2 %) 3.40 (83.0 %)
Q3 2021 99.81 103.5 % 18.93 297.2 % 5.41 167.4 %
Q4 2021 95.79 70.9 % 20.34 78.8 % 7.23 178.5 %
Q1 2022 60.41 (1.6 %) 31.88 155.5 % 17.90 372.7 %
Q2 2022 64.03 14.9 % 20.14 20.2 % 7.49 120.0 %
Q3 2022 135.35 35.6 % 44.00 132.4 % 21.49 297.0 %
Q4 2022 82.21 (14.2 %) 24.27 19.3 % 9.82 35.8 %
Q1 2023 104.44 72.9 % 37.81 18.6 % 21.43 19.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2014 5.19 (36.1 %) 0.17 - 5.19 0.17
Q2 2014 27.75 20.3 % 0.93 - 27.75 0.93
Q3 2014 37.15 8.1 % 1.24 - 37.15 1.24
Q4 2014 37.03 1.4 % 1.23 - 37.03 1.23
Q1 2015 8.62 66.1 % 0.29 - 8.62 0.29
Q2 2015 20.16 (27.4 %) 0.67 - 20.16 0.67
Q3 2015 43.35 16.7 % 1.45 - 43.35 1.45
Q4 2015 0.26 (99.3 %) 0.01 - 0.26 0.01
Q1 2016 8.81 2.2 % 0.29 - 8.81 0.29
Q2 2016 22.93 13.7 % 0.76 - 22.93 0.76
Q3 2016 32.89 (24.1 %) 1.10 - 32.89 1.10
Q4 2016 3.53 1240.7 % 0.12 - 3.53 0.12
Q1 2017 8.11 (8.0 %) 0.27 - 8.11 0.27
Q2 2017 7.71 (66.4 %) 0.26 (2.50) 10.21 0.34
Q3 2017 11.47 (65.1 %) 0.38 - 11.47 0.38
Q4 2017 (1.69) (148.0 %) (0.06) - (1.69) (0.06)
Q1 2018 (23.96) (395.4 %) (0.80) - (23.96) (0.80)
Q2 2018 26.05 237.9 % 0.87 - 26.05 0.87
Q3 2018 22.55 96.6 % 0.75 - 22.55 0.75
Q4 2018 11.11 757.0 % 0.37 - 11.11 0.37
Q1 2019 6.53 127.3 % 0.22 - 6.53 0.22
Q2 2019 1.16 (95.5 %) 0.04 - 1.16 0.04
Q3 2019 (6.43) (128.5 %) (0.21) - (6.43) (0.21)
Q4 2019 (22.06) (298.6 %) (0.74) (16.44) (5.62) (0.19)
Q1 2020 6.54 0.2 % 0.22 - 6.54 0.22
Q2 2020 11.87 920.0 % 0.40 - 11.87 0.40
Q3 2020 7.65 218.9 % 0.25 25.46 (17.81) (0.59)
Q4 2020 1.76 108.0 % 0.06 - 1.76 0.06
Q1 2021 3.84 (41.4 %) 0.13 - 3.84 0.13
Q2 2021 3.45 (71.0 %) 0.11 - 3.45 0.11
Q3 2021 3.32 (56.6 %) 0.11 - 3.32 0.11
Q4 2021 6.77 284.4 % 0.23 - 6.77 0.23
Q1 2022 15.23 297.0 % 0.51 - 15.23 0.51
Q2 2022 6.83 98.2 % 0.23 - 6.83 0.23
Q3 2022 19.84 497.8 % 0.66 - 19.84 0.66
Q4 2022 9.17 35.3 % 0.31 - 9.17 0.31
Q1 2023 20.08 31.8 % 0.67 - 20.08 0.67

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 44.07 % 44.73 % 26.13 %
Q2 2014 44.28 % 45.76 % 27.64 %
Q3 2014 44.12 % 46.76 % 28.21 %
Q4 2014 43.35 % 48.71 % 30.58 %
Q1 2015 43.24 % 48.65 % 31.00 %
Q2 2015 42.22 % 47.30 % 28.46 %
Q3 2015 44.08 % 49.60 % 30.26 %
Q4 2015 33.07 % 38.57 % 19.62 %
Q1 2016 33.03 % 39.44 % 19.51 %
Q2 2016 33.83 % 40.83 % 20.23 %
Q3 2016 31.32 % 38.76 % 17.53 %
Q4 2016 34.78 % 32.03 % 17.92 %
Q1 2017 33.95 % 32.41 % 18.13 %
Q2 2017 31.20 % 31.24 % 15.01 %
Q3 2017 25.09 % 26.65 % 9.31 %
Q4 2017 24.34 % 33.60 % 9.20 %
Q1 2018 15.45 % 22.16 % (1.33 %)
Q2 2018 21.52 % 27.29 % 3.81 %
Q3 2018 27.10 % 30.56 % 7.09 %
Q4 2018 28.80 % 35.35 % 9.96 %
Q1 2019 36.60 % 42.45 % 18.05 %
Q2 2019 30.32 % 34.34 % 12.47 %
Q3 2019 22.80 % 25.49 % 4.54 %
Q4 2019 18.04 % 19.14 % (1.94 %)
Q1 2020 19.76 % 19.77 % (1.97 %)
Q2 2020 25.48 % 24.20 % 2.56 %
Q3 2020 27.05 % 24.30 % (2.18 %)
Q4 2020 28.80 % 22.30 % 1.06 %
Q1 2021 24.16 % 17.28 % (0.14 %)
Q2 2021 20.42 % 10.69 % (3.95 %)
Q3 2021 21.81 % 13.53 % 4.53 %
Q4 2021 21.91 % 17.38 % 5.56 %
Q1 2022 28.20 % 22.36 % 9.23 %
Q2 2022 28.52 % 23.50 % 10.05 %
Q3 2022 32.72 % 26.22 % 13.69 %
Q4 2022 35.17 % 28.46 % 14.93 %
Q1 2023 32.70 % 26.71 % 14.48 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 30.00 3.30 3.05 22.66
Q2 2014 30.00 3.46 3.20 23.53
Q3 2014 30.00 3.55 3.30 24.77
Q4 2014 30.00 3.57 3.57 24.37
Q1 2015 30.00 3.69 3.69 25.28
Q2 2015 30.00 3.43 3.43 25.90
Q3 2015 30.00 3.64 3.64 27.34
Q4 2015 30.00 2.41 2.41 25.72
Q1 2016 30.00 2.42 2.42 27.30
Q2 2016 30.00 2.51 2.51 23.67
Q3 2016 30.00 2.16 2.16 24.76
Q4 2016 30.00 2.27 2.27 22.90
Q1 2017 30.00 2.25 2.25 26.15
Q2 2017 30.00 1.74 1.82 24.45
Q3 2017 30.00 1.03 1.11 24.84
Q4 2017 30.00 0.85 0.94 22.84
Q1 2018 30.00 (0.22) (0.13) 22.04
Q2 2018 30.00 0.40 0.40 21.91
Q3 2018 30.00 0.77 0.77 22.66
Q4 2018 30.00 1.19 1.19 23.14
Q1 2019 30.00 2.21 2.21 23.36
Q2 2019 30.00 1.38 1.38 21.90
Q3 2019 30.00 0.41 0.41 21.68
Q4 2019 30.00 (0.69) (0.15) 20.87
Q1 2020 30.00 (0.69) (0.14) 21.09
Q2 2020 30.00 (0.34) 0.21 20.99
Q3 2020 30.00 0.13 (0.17) 20.74
Q4 2020 30.00 0.93 0.08 20.27
Q1 2021 30.00 0.84 (0.01) 20.40
Q2 2021 30.00 0.56 (0.29) 20.51
Q3 2021 30.00 0.41 0.41 20.62
Q4 2021 30.00 0.58 0.58 20.92
Q1 2022 30.00 0.96 0.96 21.43
Q2 2022 30.00 1.07 1.07 21.66
Q3 2022 30.00 1.62 1.62 21.82
Q4 2022 30.00 1.70 1.70 22.25
Q1 2023 30.00 1.86 1.86 22.42

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 12.98 14.08 1.89
Q2 2014 13.58 14.67 2.00
Q3 2014 15.08 16.26 2.16
Q4 2014 11.43 11.43 1.68
Q1 2015 11.37 11.37 1.66
Q2 2015 13.45 13.45 1.78
Q3 2015 10.67 10.67 1.42
Q4 2015 13.82 13.82 1.30
Q1 2016 9.69 9.69 0.86
Q2 2016 11.92 11.92 1.27
Q3 2016 12.91 12.91 1.13
Q4 2016 15.31 15.31 1.52
Q1 2017 13.85 13.85 1.19
Q2 2017 16.72 15.95 1.19
Q3 2017 27.35 25.30 1.13
Q4 2017 35.95 32.75 1.34
Q1 2018 NEG NEG 1.36
Q2 2018 66.80 66.80 1.21
Q3 2018 29.82 29.82 1.01
Q4 2018 18.12 18.12 0.93
Q1 2019 10.42 10.42 0.98
Q2 2019 17.42 17.42 1.10
Q3 2019 51.79 51.79 0.99
Q4 2019 NEG NEG 1.07
Q1 2020 NEG NEG 0.92
Q2 2020 NEG More than 100 1.40
Q3 2020 More than 100 NEG 1.90
Q4 2020 39.56 More than 100 1.81
Q1 2021 97.81 NEG 4.01
Q2 2021 More than 100 NEG 4.11
Q3 2021 More than 100 More than 100 3.70
Q4 2021 More than 100 More than 100 2.79
Q1 2022 57.87 57.87 2.59
Q2 2022 43.11 43.11 2.13
Q3 2022 26.69 26.69 1.98
Q4 2022 26.08 26.08 2.00
Q1 2023 27.80 27.80 2.31

Business Segments (Million)

Compared With The
Period Agricultural activity - Manufacturing Agricultural activity - plants
Q3 2016 22.23 98.61
Q4 2016 29.74 98.76
Q1 2017 31.56 16.64
Q2 2017 26.73 40.48
Q3 2017 10.73 103.30
Q4 2017 8.45 67.73
Q1 2018 17.81 23.83
Q2 2018 10.37 69.56
Q3 2018 35.75 90.49
Q4 2018 43.58 67.54
Q1 2019 36.93 12.71
Q2 2019 27.75 16.94
Q3 2019 28.81 38.17
Q4 2019 28.93 34.21
Q1 2020 37.25 8.88
Q2 2020 62.12 9.85
Q3 2020 19.73 29.32
Q4 2020 35.81 20.26
Q1 2021 48.07 13.30
Q2 2021 35.13 20.57
Q3 2021 36.19 63.62
Q4 2021 53.03 42.76
Q1 2022 59.35 1.06
Q2 2022 43.18 20.85
Q3 2022 43.75 91.60
Q4 2022 39.01 43.20
Q1 2023 93.94 10.50


Financial Ratios
Current
Market Cap (M Riyal) 1,794.00
Enterprise Value (EV) (M) 2,015.56
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 2.79
Book Value (BV) ( Riyal) 24.94
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 24.05
P/E (TTM) 21.46
Price/book 2.40
Return on Average Assets (%) (TTM) 7.3
Return on Average Equity (%) (TTM) 11.6
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Share Price

Al-Jouf Agricultural Development Co.
60.00
(0.30) (0.50 %)

Al-Jouf Agricultural Development Co. (ALJOUF)

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