Entaj posts 57% profit decline to SAR 27.1M in 2024, loses SAR 6.3M in Q4

27/03/2025 Argaam Exclusive

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Arabian Co. for Agricultural and Industrial Investments (Entaj) reported net earnings of SAR 27.1 million for 2024, a decline of 57% from SAR 62.7 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 1,099.35 1,244.90 13.2 %
Gross Income 230.30 197.70 (14.2 %)
Operating Income 75.09 51.80 (31.0 %)
Net Income 62.66 27.10 (56.8 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 2.09 0.90 (56.8 %)
EPS (Riyals) 2.09 0.90 (56.8 %)

This came amid higher depreciation, which resulted in a SAR 25 million financial impact. This was due to the company’s capacity expansion and higher finance costs on lower interest capitalization (fueled a SAR 9 million financial impact).

 

Furthermore, the company allocated a SAR 8 million incremental provisions for bio assets, primarily due to the fair-value reassessment and the impairment on day-old chicks.

 

Excluding the depreciation impact, earnings before interest, taxes, depreciation, and amortization (EBITDA) would have reached SAR 127.2 million, marking a 3.7% year-on-year (YoY) increase.

 

This came despite Entaj’s 13.2% YoY revenue growth to SAR 1.24 billion in 2024, given the elevated poultry sales. This was also supported by the company’s intense focus on modern trade and investments in production capacity expansion, besides work to enhance logistics capabilities and strengthen sales resources.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 307.87 316.37 2.8 %
Gross Income 86.44 28.37 (67.2 %)
Operating Income 43.91 (1.75) (104.0 %)
Net Income 41.23 (6.28) (115.2 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 1.37 (0.21) (115.2 %)
EPS (Riyals) 1.37 (0.21) (115.2 %)

In Q4 2024, the company turned to a net loss of SAR 6.3 million, against profits of SAR 41.23 million in Q4 2023.

 

Entaj posted a bottom line of SAR 4.39 million in Q3 2024.

 

Total shareholders' equity, no minority interest, reached SAR 460.6 million as of Dec. 31, 2024, up from SAR 436.6 million a year before.

 

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Share Price

Arabian Company for Agricultural and Industrial Investment
58.00
(0.60) (1.02 %)

Arabian Company for Agricultural and Industrial Investment (ENTAJ)

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Financial Ratios
Current
Market Cap (M Riyal) 1,740.00
Enterprise Value (EV) (M) 2,240.94
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 0.90
Book Value (BV) ( Riyal) 15.35
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 64.21
P/E (TTM) 64.21
Price/book 3.78
Return on Average Assets (%) (TTM) 2.1
Return on Average Equity (%) (TTM) 6.0
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