NADEC Reports SAR 93.71M Net Profit in Three Months 2026
NADEC 6010.SA | 0.00 |
On 2026-04-23 15:33:17 (Saudi Time), The National Agricultural Development Company (NADEC) announced its interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 917.86 | 1,011.45 | -9.253 | 841.45 | 9.08 |
| Gross Profit (Loss) | 282.37 | 325.75 | -13.316 | 250.9 | 12.542 |
| Operational Profit (Loss) | 97.62 | 99.28 | -1.672 | 62.26 | 56.794 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 93.71 | 103.42 | -9.388 | 63.99 | 46.444 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 101.57 | 103.19 | -1.569 | 45.25 | 124.464 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 4,709.74 | 4,400.12 | 7.036 |
| Profit (Loss) per Share | 0.31 | 0.34 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 9.253% YoY to SAR 917.86 million primarily due to a SAR 101.72 million decrease in the Agri segment and a 2.52% decline in dairy and beverages, partially offset by a 29.85% increase in the Protein segment. Net profit decreased 9.388% YoY to SAR 93.71 million, driven by lower revenue and higher cost of sales percentage (up 1.44%) due to product mix changes and raw material costs, plus SAR 5.90 million in joint venture losses. The decline was partially mitigated by a non-recurring gain of SAR 40.20 million from reversal of impairment losses on receivables.
Quarter-on-Quarter Performance Drivers
QoQ revenue increased 9.08% driven by protein segment sales growth of 48.53% and dairy & beverages segment growth of 12.71%, partially offset by Agri segment decline of SAR 53.28 million. Net profit rose 46.44% from SAR 63.99 million to SAR 93.71 million, primarily due to higher revenue, improved cost of sales percentage (decreased 0.95%), reduced general and administrative expenses (down 7.62%), and a non-recurring gain of SAR 40.20 million from reversal of impairment losses on receivables. These positive factors outweighed the negative impact of increased selling and marketing expenses (up 8.55%).
Other Items
The auditors issued an unmodified conclusion for the interim financial statements. An other matter paragraph noted that the comparative period financial statements for the three months ended March 31, 2025 were reviewed by another auditor who also expressed an unmodified conclusion on May 7, 2025. No accumulated losses were reported, with the accumulated losses field showing zero amounts. Total shareholders' equity increased 7.036% YoY to SAR 4,709.74 million. Earnings per share decreased from SAR 0.34 to SAR 0.31 compared to the same quarter last year.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94626&anCat=1&cs=6010&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.