Nadec's FY17 net profit falls 58% as sales dip

20/03/2018 Argaam Exclusive

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Share Price

National Agricultural Development Co. (NADEC)

National Agricultural Development Co. (Nadec) reported a net profit of SAR 39.94 million for fiscal year 2017, down 57.61 percent year-on-year (YoY), due to a 6.62 percent fall in total sales.

The company's total revenue reached SAR 2.03 billion compared to SAR 2.18 billion in 2016. Earnings per share reached SAR 0.47, versus SAR 1.14 in FY 2016.

Shareholders equity rose by 0.5 percent to SAR 1.42 billion as of Dec. 31, 2017, compared to SAR 1.42 billion in the previous year.

Financials (M)

Item	2016	2017	Change‬
Revenues	2,176.49	-	-
Gross Income	837.86	-	-
Operating Income	173.03	-	-
Net Income	94.23	-	-
Average Shares	212.89	-	-
EPS (Riyals)	0.44	-	-

Current Quarter Comparison (M)

Compared With The

Item	Q4 2016	Q4 2017	Change‬
Revenues	478.32	-	-
Gross Income	186.58	-	-
Operating Income	30.39	-	-
Net Income	6.26	-	-
Average Shares	212.89	-	-
EPS (Riyals)	0.03	-	-

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2008	259.00	32.6 %	89.04	21.8 %	4.08	(82.7 %)	0.02
Q2 2008	403.32	36.8 %	128.77	34.5 %	37.79	65.1 %	0.18
Q3 2008	358.36	29.5 %	143.94	17.6 %	31.64	(17.5 %)	0.15
Q4 2008	317.96	0.9 %	114.89	(0.5 %)	(4.71)	64.4 %	(0.02)
2008	1,338.63	23.7 %	476.62	17.2 %	68.80	(3.9 %)	0.32
Q1 2009	279.43	7.9 %	92.64	4.1 %	(4.37)	(207.1 %)	(0.02)
Q2 2009	390.91	(3.1 %)	100.65	(21.8 %)	(16.84)	(144.6 %)	(0.08)
Q3 2009	344.95	(3.7 %)	131.08	(8.9 %)	11.34	(64.2 %)	0.05
Q4 2009	319.22	0.4 %	94.08	(18.1 %)	(33.04)	(602.0 %)	(0.16)
2009	1,334.50	(0.3 %)	418.45	(12.2 %)	(42.91)	(162.4 %)	(0.20)
Q1 2010	318.88	14.1 %	108.92	17.6 %	3.82	187.6 %	0.02
Q2 2010	402.13	2.9 %	119.66	18.9 %	4.66	127.6 %	0.02
Q3 2010	353.50	2.5 %	134.21	2.4 %	15.94	40.6 %	0.07
Q4 2010	373.05	16.9 %	115.62	22.9 %	(13.96)	57.8 %	(0.07)
2010	1,447.56	8.5 %	478.41	14.3 %	10.46	124.4 %	0.05
Q1 2011	345.99	8.5 %	123.33	13.2 %	20.53	436.8 %	0.10
Q2 2011	430.32	7.0 %	137.27	14.7 %	19.49	318.5 %	0.09
Q3 2011	405.64	14.7 %	151.48	12.9 %	30.07	88.6 %	0.14
Q4 2011	375.71	0.7 %	137.77	19.2 %	21.20	251.9 %	0.10
2011	1,557.66	7.6 %	549.85	14.9 %	91.28	772.5 %	0.43
Q1 2012	368.00	6.4 %	139.45	13.1 %	21.48	4.6 %	0.10
Q2 2012	489.99	13.9 %	167.58	22.1 %	27.21	39.6 %	0.13
Q3 2012	456.77	12.6 %	180.18	18.9 %	32.67	8.7 %	0.15
Q4 2012	412.72	9.8 %	149.34	8.4 %	14.30	(32.5 %)	0.07
2012	1,727.47	10.9 %	636.54	15.8 %	95.66	4.8 %	0.45
Q1 2013	424.48	15.3 %	161.86	16.1 %	22.35	4.0 %	0.10
Q2 2013	543.00	10.8 %	184.49	10.1 %	30.00	10.3 %	0.14
Q3 2013	512.17	12.1 %	189.43	5.1 %	33.02	1.1 %	0.16
Q4 2013	448.44	8.7 %	168.89	13.1 %	14.81	3.6 %	0.07
2013	1,928.09	11.6 %	704.67	10.7 %	100.18	4.7 %	0.47
Q1 2014	484.04	14.0 %	181.66	12.2 %	24.77	10.9 %	0.12
Q2 2014	575.64	6.0 %	209.51	13.6 %	28.00	(6.7 %)	0.13
Q3 2014	504.62	(1.5 %)	202.12	6.7 %	34.41	4.2 %	0.16
Q4 2014	508.06	13.3 %	181.69	7.6 %	20.02	35.2 %	0.09
2014	2,072.36	7.5 %	774.97	10.0 %	107.20	7.0 %	0.50
Q1 2015	534.41	10.4 %	201.91	11.2 %	26.16	5.6 %	0.12
Q2 2015	689.65	19.8 %	258.42	23.3 %	35.10	25.4 %	0.16
Q3 2015	566.66	12.3 %	241.42	19.4 %	45.69	32.8 %	0.21
Q4 2015	553.18	8.9 %	248.35	36.7 %	34.37	71.7 %	0.16
2015	2,328.59	12.4 %	942.56	21.6 %	141.32	31.8 %	0.66
Q1 2016	509.36	(4.7 %)	202.88	0.5 %	23.75	(9.2 %)	0.11
Q2 2016	638.59	(7.4 %)	245.44	(5.0 %)	35.57	1.3 %	0.17
Q3 2016	550.24	(2.9 %)	203.74	(15.6 %)	28.65	(37.3 %)	0.13
Q4 2016	478.32	(13.5 %)	186.58	(24.9 %)	6.26	(81.8 %)	0.03
2016	2,176.49	(6.5 %)	837.86	(11.1 %)	94.23	(33.3 %)	0.44
Q1 2017	-	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-	-
2017	-	-	-	-	-	-	-

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2008	1,338.63	23.7 %	476.62	17.2 %	68.80	(3.9 %)	0.32
2009	1,334.50	(0.3 %)	418.45	(12.2 %)	(42.91)	(162.4 %)	(0.20)
2010	1,447.56	8.5 %	478.41	14.3 %	10.46	124.4 %	0.05
2011	1,557.66	7.6 %	549.85	14.9 %	91.28	772.5 %	0.43
2012	1,727.47	10.9 %	636.54	15.8 %	95.66	4.8 %	0.45
2013	1,928.09	11.6 %	704.67	10.7 %	100.18	4.7 %	0.47
2014	2,072.36	7.5 %	774.97	10.0 %	107.20	7.0 %	0.50
2015	2,328.59	12.4 %	942.56	21.6 %	141.32	31.8 %	0.66
2016	2,176.49	(6.5 %)	837.86	(11.1 %)	94.23	(33.3 %)	0.44
2017	-	-	-	-	-	-	-

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	36.88 %	19.26 %	4.73 %
Q2 2008	36.33 %	20.22 %	5.51 %
Q3 2008	35.72 %	19.79 %	4.67 %
Q4 2008	35.61 %	19.23 %	4.55 %
2008	35.61 %	19.23 %	4.55 %
Q1 2009	35.34 %	18.95 %	3.67 %
Q2 2009	33.57 %	16.47 %	(0.39 %)
Q3 2009	32.95 %	16.22 %	(1.91 %)
Q4 2009	31.36 %	15.24 %	(3.33 %)
2009	31.36 %	15.24 %	(3.33 %)
Q1 2010	31.64 %	15.57 %	(2.73 %)
Q2 2010	32.76 %	16.95 %	(1.35 %)
Q3 2010	32.78 %	15.00 %	(1.12 %)
Q4 2010	33.05 %	14.96 %	0.20 %
2010	33.05 %	14.96 %	0.20 %
Q1 2011	33.42 %	15.14 %	1.37 %
Q2 2011	33.96 %	15.14 %	2.37 %
Q3 2011	33.94 %	16.49 %	3.18 %
Q4 2011	35.30 %	19.08 %	5.43 %
2011	35.30 %	19.08 %	5.43 %
Q1 2012	35.83 %	18.67 %	5.19 %
Q2 2012	36.37 %	18.81 %	5.59 %
Q3 2012	36.97 %	18.74 %	5.61 %
Q4 2012	36.85 %	17.78 %	5.02 %
2012	36.85 %	17.78 %	5.02 %
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	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	35.61 %	19.23 %	4.55 %
2009	31.36 %	15.24 %	(3.33 %)
2010	33.05 %	14.96 %	0.20 %
2011	35.30 %	19.08 %	5.43 %
2012	36.85 %	17.78 %	5.02 %
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	-	-	-

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	34.38 %	20.21 %	2.40 %
Q2 2008	31.93 %	19.81 %	9.35 %
Q3 2008	40.17 %	23.18 %	8.82 %
Q4 2008	36.13 %	13.24 %	(4.59 %)
Q1 2009	33.15 %	18.79 %	(1.76 %)
Q2 2009	25.75 %	11.28 %	(4.43 %)
Q3 2009	38.00 %	22.47 %	3.31 %
Q4 2009	29.47 %	9.17 %	(10.55 %)
Q1 2010	34.16 %	19.78 %	0.63 %
Q2 2010	29.76 %	16.16 %	0.38 %
Q3 2010	37.97 %	14.63 %	4.11 %
Q4 2010	30.99 %	9.87 %	(4.06 %)
Q1 2011	35.64 %	20.14 %	5.57 %
Q2 2011	31.90 %	16.11 %	3.94 %
Q3 2011	37.34 %	19.84 %	6.99 %
Q4 2011	36.67 %	20.70 %	5.30 %
Q1 2012	37.89 %	18.29 %	4.55 %
Q2 2012	34.20 %	16.90 %	5.44 %
Q3 2012	39.45 %	19.46 %	6.92 %
Q4 2012	36.18 %	16.49 %	2.84 %
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	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2008	212.89	0.24	0.25	4.66
Q2 2008	212.89	0.31	0.32	4.84
Q3 2008	212.89	0.28	0.29	4.99
Q4 2008	212.89	0.32	0.29	4.97
Q1 2009	212.89	0.28	0.23	4.74
Q2 2009	212.89	0.03	(0.02)	4.66
Q3 2009	212.89	(0.07)	(0.12)	4.72
Q4 2009	212.89	(0.20)	(0.21)	4.52
Q1 2010	212.89	(0.16)	(0.18)	4.60
Q2 2010	212.89	(0.06)	(0.09)	4.62
Q3 2010	212.89	(0.04)	(0.07)	4.70
Q4 2010	212.89	0.05	0.01	4.56
Q1 2011	212.89	0.13	0.09	4.66
Q2 2011	212.89	0.20	0.17	4.75
Q3 2011	212.89	0.26	0.23	4.89
Q4 2011	212.89	0.43	0.40	4.99
Q1 2012	212.89	0.43	0.38	4.88
Q2 2012	212.89	0.47	0.43	5.01
Q3 2012	212.89	0.48	0.45	5.02
Q4 2012	212.89	0.45	0.41	5.09
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	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	212.89	0.32	0.29	4.97
2009	212.89	(0.20)	(0.21)	4.52
2010	212.89	0.05	0.01	4.56
2011	212.89	0.43	0.40	4.99
2012	212.89	0.45	0.41	5.09
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	-	-	-	-

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2008	More than 50	More than 50	3.41
Q2 2008	More than 50	More than 50	3.36
Q3 2008	47.08	45.54	2.67
Q4 2008	39.04	44.07	2.54
Q1 2009	41.40	More than 50	2.48
Q2 2009	More than 50	NEG	3.37
Q3 2009	NEG	NEG	3.32
Q4 2009	NEG	NEG	2.98
Q1 2010	NEG	NEG	2.67
Q2 2010	NEG	NEG	2.23
Q3 2010	NEG	NEG	2.17
Q4 2010	More than 50	More than 50	2.28
Q1 2011	More than 50	More than 50	2.22
Q2 2011	More than 50	More than 50	2.24
Q3 2011	39.67	44.99	2.14
Q4 2011	27.76	29.98	2.38
Q1 2012	30.50	34.33	2.71
Q2 2012	23.48	25.61	2.20
Q3 2012	26.19	28.32	2.51
Q4 2012	24.25	26.76	2.14
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	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-

Period	P/E	Adjusted P/E	Price/book
2008	39.04	44.07	2.54
2009	NEG	NEG	2.98
2010	More than 50	More than 50	2.28
2011	27.76	29.98	2.38
2012	24.25	26.76	2.14
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	-	-	-

Business Segments (Million)

Compared With The

Period	Diary and food production Sector	Agricultural Activity	Adjustments
Q1 2008	205.00	57.00	-
Q2 2008	256.00	152.00	-
Q3 2008	290.00	66.00	-
Q4 2008	243.00	70.00	-
Q1 2009	226.00	53.00	-
Q2 2009	268.00	125.00	-
Q3 2009	304.00	39.00	-
Q4 2009	260.00	60.00	-
Q1 2010	262.00	58.00	-
Q2 2010	296.00	114.00	-
Q3 2010	314.00	34.00	-
Q4 2010	282.00	88.00	-
Q1 2011	283.00	64.00	-
Q2 2011	320.00	124.00	-
Q3 2011	343.00	53.00	-
Q4 2011	304.00	67.00	-
Q1 2012	318.00	50.00	-
Q2 2012	374.00	121.00	-
Q3 2012	402.00	50.00	-
Q4 2012	352.00	60.00	-
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	412.51	(106.54)	-
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)

Period	Diary and food production Sector	Agricultural Activity	Adjustments
2008	994.00	345.00	-
2009	1,058.00	277.00	-
2010	1,154.00	294.00	-
2011	1,250.00	308.00	-
2012	1,446.00	281.00	-
2013	1,667.00	261.00	-
2014	1,876.00	196.00	-
2015	2,023.00	306.00	-
2016	1,949.52	226.98	-
2017	1,860.36	462.61	(290.49)

Financial Ratios

	Current
Market Cap (M Riyal)	9,652.48
Enterprise Value (EV) (M)	8,549.96
Shares Outstanding ((M))	301.64
EPS ( Riyal) (TTM)	1.21
Book Value (BV) ( Riyal)	12.25
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	28.41
P/E (TTM)	26.39
Price/book	2.61
Return on Average Assets (%) (TTM)	7.8
Return on Average Equity (%) (TTM)	14.6

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Nadec's FY17 net profit falls 58% as sales dip

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Share Price

National Agricultural Development Co. (NADEC)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2017 Q4

Financial Ratios

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Nadec's FY17 net profit falls 58% as sales dip

View other reports

Share Price

National Agricultural Development Co. (NADEC)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2017

Revenue by Business Segment (Latest) 2017 Q4

Financial Ratios

Comments {{getCommentCount()}}

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Business Segments (Million)