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- 1830 - Leejam Sports
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- 4080 - SINAD HOLDING
- 2284 - MODERN MILLS
- 2285 - ARABIAN MILLS
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- 8012 - JAZIRA TAKAFUL
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- 8050 - SALAMA
- 8060 - WALAA
- 8070 - ARABIAN SHIELD
- 8190 - UCA
- 8230 - ALRAJHI TAKAFUL
- 8280 - LIVA
- 8150 - ACIG
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- 8170 - ALETIHAD
- 8100 - SAICO
- 8120 - GULF UNION ALAHLIA
- 8200 - SAUDI RE
- 8160 - AICC
- 8250 - GIG
- 8240 - CHUBB
- 8260 - GULF GENERAL
- 8300 - WATANIYA
- 8310 - AMANA INSURANCE
- 8311 - ENAYA
- 8313 - RASAN
- 4330 - RIYAD REIT
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- 4332 - JADWA REIT ALHARAMAIN
- 4333 - TALEEM REIT
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- 4338 - ALAHLI REIT 1
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Real Estate Mgmt & Dev't
Food & Beverages
- 9515 - FESH FASH
- 9532 - ALJOUF WATER
- 9536 - FADECO
- 9556 - NOFOTH
- 9559 - BALADY
- 9564 - HORIZON FOOD
- 9555 - LEEN ALKHAIR
- 9612 - SAMA WATER
- 9518 - CMCER
- 9530 - TIBBIYAH
- 9527 - AME
- 9544 - FUTURE CARE
- 9546 - NABA ALSAHA
- 9574 - PRO MEDEX
- 9594 - ALMODAWAT
- 9572 - ALRAZI
- 9587 - LANA
- 9600 - QOMEL
- 9604 - MIRAL
- 9513 - WATANI STEEL
- 9514 - ALNAQOOL
- 9523 - GROUP FIVE
- 9539 - AQASEEM
- 9548 - APICO
- 9553 - MOLAN
- 9565 - MEYAR
- 9552 - SAUDI TOP
- 9563 - BENA
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- 9575 - MARBLE DESIGN
- 9599 - TAQAT
- 9601 - ALRASHEED
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- 9531 - OBEIKAN GLASS
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ADES Holding Co. posted a net profit of SAR 606 million before minority interest in the first nine months of 2024, compared to SAR 283 million before minority interest in the year-earlier period.
Financials (M)
Item | 9m 2023 | 9m 2024 | Change |
---|---|---|---|
Revenues | 3,059.55 | 4,629.95 | 51.3 % |
Gross Income | 1,195.78 | 1,792.26 | 49.9 % |
Operating Income | 915.98 | 1,479.17 | 61.5 % |
Net Income | 275.26 | 592.06 | 115.1 % |
Average Shares | 858.09 | 1,129.06 | 31.6 % |
EPS (Riyals) | 0.32 | 0.52 | 63.5 % |
The profit growth was spurred by a 51.3% year-on-year (YoY) increase in revenue for the first nine months of 2024, reaching SAR 4.63 billion. This was attributed to continued strong growth in Saudi Arabia, supported by newly deployed rigs, as well as new revenue contributions from operations in India, Indonesia, and Thailand.
Net profit margin also grew from 9.3% in 9M 2023 to 13.1% in 9M 2024. This reflected a higher EBITDA margin of 2.1% and a 4.4% decline in interest to revenue, which was partly offset by a 2.5% increase in higher depreciation expenses following the deployment of rigs in Saudi Arabia, Kuwait, and India.
In Q3 2024, net profit reached SAR 196.2 million, soaring from SAR 83.9 million in Q3 2023, mainly due to revenue growth of 45.8% YoY to SAR 1.57 billion.
On a sequential basis, the bottom line fell 1.1% from SAR 198.47 million in Q2 2024.
Current Quarter Comparison (M)
Item | Q3 2023 | Q3 2024 | Change |
---|---|---|---|
Revenues | 1,078.69 | 1,572.60 | 45.8 % |
Gross Income | 414.89 | 615.55 | 48.4 % |
Operating Income | 325.43 | 512.97 | 57.6 % |
Net Income | 83.87 | 196.23 | 134.0 % |
Average Shares | 858.09 | 1,129.06 | 31.6 % |
EPS (Riyals) | 0.10 | 0.17 | 77.8 % |
Item | Q2 2024 | Q3 2024 | Change |
---|---|---|---|
Revenues | 1,525.29 | 1,572.60 | 3.1 % |
Gross Income | 574.02 | 615.55 | 7.2 % |
Operating Income | 472.06 | 512.97 | 8.7 % |
Net Income | 198.47 | 196.23 | (1.1 %) |
Average Shares | 1,129.06 | 1,129.06 | - |
EPS (Riyals) | 0.18 | 0.17 | (1.1 %) |
Shareholders’ equity, after minority interest, reached SAR 6.19 billion as of Sept. 30, 2024, up from SAR 2.60 billion a year earlier.
Attached Document:
Quarterly Actuals vs Estimates 04/11/202404/11/2024
Company | Estimated | Actual | Change |
---|---|---|---|
SAUDI CEMENT | 92.40 | 100.20 | 8.4 % |
ADES | 198.84 | 196.00 | (1.4 %) |
SHAKER | 19.00 | 17.72 | (6.8 %) |
MOUWASAT | 167.20 | 149.64 | (10.5 %) |
TCC | 26.10 | 23.05 | (11.7 %) |
ALDAWAA | 86.63 | 75.09 | (13.3 %) |
Company | Estimated | Actual | Change |
---|---|---|---|
MALATH INSURANCE | (24.00) | 5.55 | 123.1 % |
STC | 3,497.38 | 4,643.00 | 32.8 % |
SAUDI CEMENT | 92.40 | 100.20 | 8.4 % |
BUPA ARABIA | 343.94 | 356.28 | 3.6 % |
LUMI | 39.83 | 40.14 | 0.8 % |
View other reports
- TASI
-
Energy
- 2222 - SAUDI ARAMCO
- 2030 - SARCO
- 2380 - PETRO RABIGH
- 4030 - BAHRI
- 4200 - ALDREES
- 2381 - ARABIAN DRILLING
- 2382 - ADES
- 1201 - TAKWEEN
- 1202 - MEPCO
- 1210 - BCI
- 1211 - MAADEN
- 1301 - ASLAK
- 1304 - ALYAMAMAH STEEL
- 1320 - SSP
- 2001 - CHEMANOL
- 2010 - SABIC
- 2020 - SABIC AGRI-NUTRIENTS
- 2090 - NGC
- 2150 - ZOUJAJ
- 2170 - ALUJAIN
- 2180 - FIPCO
- 2200 - APC
- 2210 - NAMA CHEMICALS
- 2220 - MAADANIYAH
- 2240 - ZAMIL INDUST
- 2250 - SIIG
- 2290 - YANSAB
- 2300 - SPM
- 2310 - SIPCHEM
- 2330 - ADVANCED
- 2350 - SAUDI KAYAN
- 3002 - NAJRAN CEMENT
- 3003 - CITY CEMENT
- 3004 - NORTHERN CEMENT
- 3005 - UACC
- 3010 - ACC
- 3020 - YC
- 3030 - SAUDI CEMENT
- 3040 - QACCO
- 3050 - SPCC
- 3060 - YCC
- 3080 - EPCCO
- 3090 - TCC
- 3091 - JOUF CEMENT
- 3092 - RIYADH CEMENT
- 2060 - TASNEE
- 3008 - ALKATHIRI
- 3007 - OASIS
- 1321 - EAST PIPES
- 1322 - AMAK
- 2223 - LUBEREF
- 2360 - SVCP
- 1212 - ASTRA INDUSTRIAL
- 1302 - BAWAN
- 1303 - EIC
- 2040 - SAUDI CERAMICS
- 2110 - SAUDI CABLE
- 2160 - AMIANTIT
- 2320 - ALBABTAIN
- 2370 - MESC
- 4140 - SIECO
- 4141 - ALOMRAN
- 4142 - RIYADH CABLES
- 1214 - SHAKER
- 4110 - BATIC
- 4143 - TALCO
- 4031 - SGS
- 4040 - SAPTCO
- 4260 - BUDGET SAUDI
- 2190 - SISCO HOLDING
- 4261 - THEEB
- 4263 - SAL
- 4262 - LUMI
- 1810 - SEERA
- 6013 - DWF
- 1820 - ALHOKAIR GROUP
- 4170 - TECO
- 4290 - ALKHALEEJ TRNG
- 6002 - HERFY FOODS
- 1830 - Leejam Sports
- 6012 - RAYDAN
- 4291 - NCLE
- 4292 - ATAA
- 6014 - ALAMAR
- 6015 - AMERICANA
- 6016 - BURGERIZZR
- 4003 - EXTRA
- 4008 - SACO
- 4050 - SASCO
- 4190 - JARIR
- 4240 - CENOMI RETAIL
- 4191 - ABO MOATI
- 4051 - BAAZEEM
- 4192 - ALSAIF GALLERY
- 4001 - A.OTHAIM MARKET
- 4006 - FARM SUPERSTORES
- 4061 - ANAAM HOLDING
- 4160 - THIMAR
- 4161 - BINDAWOOD
- 4162 - ALMUNAJEM
- 4164 - NAHDI
- 4163 - ALDAWAA
- 2050 - SAVOLA GROUP
- 2100 - WAFRAH
- 2270 - SADAFCO
- 2280 - ALMARAI
- 6001 - HB
- 6010 - NADEC
- 6020 - GACO
- 6040 - TADCO
- 6050 - SFICO
- 6060 - SHARQIYAH DEV
- 6070 - ALJOUF
- 6090 - JAZADCO
- 2281 - TANMIAH
- 2282 - NAQI
- 2283 - FIRST MILLS
- 4080 - SINAD HOLDING
- 2284 - MODERN MILLS
- 2285 - ARABIAN MILLS
- 2286 - FOURTH MILLING
- 4002 - MOUWASAT
- 4004 - DALLAH HEALTH
- 4005 - CARE
- 4007 - ALHAMMADI
- 4009 - SAUDI GERMAN HEALTH
- 2230 - CHEMICAL
- 4013 - SULAIMAN ALHABIB
- 2140 - AYYAN
- 4014 - EQUIPMENT HOUSE
- 4017 - FAKEEH CARE
- 1010 - RIBL
- 1020 - BJAZ
- 1030 - SAIB
- 1050 - BSF
- 1060 - SAB
- 1080 - ANB
- 1120 - ALRAJHI
- 1140 - ALBILAD
- 1150 - ALINMA
- 1180 - SNB
- 2120 - SAIC
- 4280 - KINGDOM
- 4130 - ALBAHA
- 4081 - NAYIFAT
- 1111 - TADAWUL GROUP
- 4082 - MRNA
- 1182 - AMLAK
- 1183 - SHL
- 8010 - TAWUNIYA
- 8012 - JAZIRA TAKAFUL
- 8020 - MALATH INSURANCE
- 8030 - MEDGULF
- 8040 - ALLIANZ SF
- 8050 - SALAMA
- 8060 - WALAA
- 8070 - ARABIAN SHIELD
- 8190 - UCA
- 8230 - ALRAJHI TAKAFUL
- 8280 - LIVA
- 8150 - ACIG
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- 8270 - BURUJ
- 8180 - ALSAGR INSURANCE
- 8170 - ALETIHAD
- 8100 - SAICO
- 8120 - GULF UNION ALAHLIA
- 8200 - SAUDI RE
- 8160 - AICC
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- 8240 - CHUBB
- 8260 - GULF GENERAL
- 8300 - WATANIYA
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- 8313 - RASAN
- 4330 - RIYAD REIT
- 4331 - ALJAZIRA REIT
- 4332 - JADWA REIT ALHARAMAIN
- 4333 - TALEEM REIT
- 4334 - AL MAATHER REIT
- 4335 - MUSHARAKA REIT
- 4336 - MULKIA REIT
- 4338 - ALAHLI REIT 1
- 4337 - SICO SAUDI REIT
- 4342 - JADWA REIT SAUDI
- 4340 - Al RAJHI REIT
- 4339 - DERAYAH REIT
- 4344 - SEDCO CAPITAL REIT
- 4347 - BONYAN REIT
- 4345 - ALINMA RETAIL REIT
- 4346 - MEFIC REIT
- 4348 - ALKHABEER REIT
- 4349 - ALINMA HOSPITALITY REIT
- 4350 - ALISTITHMAR REIT
- 4020 - ALAKARIA
- 4323 - SUMOU
- 4090 - TAIBA
- 4100 - MCDC
- 4150 - ARDCO
- 4220 - EMAAR EC
- 4230 - RED SEA
- 4250 - JABAL OMAR
- 4300 - DAR ALARKAN
- 4310 - KEC
- 4320 - ALANDALUS
- 4321 - CENOMI CENTERS
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- NOMU
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Real Estate Mgmt & Dev't
Food & Beverages
- 9515 - FESH FASH
- 9532 - ALJOUF WATER
- 9536 - FADECO
- 9556 - NOFOTH
- 9559 - BALADY
- 9564 - HORIZON FOOD
- 9555 - LEEN ALKHAIR
- 9612 - SAMA WATER
- 9518 - CMCER
- 9530 - TIBBIYAH
- 9527 - AME
- 9544 - FUTURE CARE
- 9546 - NABA ALSAHA
- 9574 - PRO MEDEX
- 9594 - ALMODAWAT
- 9572 - ALRAZI
- 9587 - LANA
- 9600 - QOMEL
- 9604 - MIRAL
- 9513 - WATANI STEEL
- 9514 - ALNAQOOL
- 9523 - GROUP FIVE
- 9539 - AQASEEM
- 9548 - APICO
- 9553 - MOLAN
- 9565 - MEYAR
- 9552 - SAUDI TOP
- 9563 - BENA
- 9566 - LIME INDUSTRIES
- 9580 - ALRASHID INDUSTRIAL
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- 9575 - MARBLE DESIGN
- 9599 - TAQAT
- 9601 - ALRASHEED
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- 9607 - ASG
- 9609 - NAAS PETROL
- 9510 - NBM
- 9528 - GAS
- 9531 - OBEIKAN GLASS
- 9533 - SPC
- 9529 - RAOOM
- 9525 - ALWASAIL INDUSTRIAL
- 9542 - KEIR
- 9547 - RAWASI
- 9568 - MAYAR
- 9569 - ALMUNEEF
- 9578 - ATLAS ELEVATORS
- 9560 - WAJA
- 9611 - UFG
- 9540 - TADWEEER
- 9545 - ALDAWLIAH
- 9570 - TAM DEVELOPMENT
- 9581 - CLEAN LIFE
- 9593 - PAN GULF
- 9597 - LEAF
- 9608 - ALASHGHAL ALMOYSRA
- 9606 - THARWAH
- 9541 - ACADEMY OF LEARNING
- 9562 - FOOD GATE
- 9590 - ARMAH
- 9526 - JAHEZ
- 9598 - ALMOHAFAZA FOR EDUCATION
- 9603 - HORIZON EDUCATIONAL
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Share Price
Ades Holding Co. (ADES)
Current | |
Market Cap (M Riyal) | 22,332.81 |
Enterprise Value (EV) (M) | 32,524.76 |
Shares Outstanding ((M)) | 1,129.06 |
EPS ( Riyal) (TTM) | 0.67 |
Book Value (BV) ( Riyal) | 5.49 |
Par Value ( Riyal) | 1.00 |
Adjusted P/E (Last12) | 26.33 |
P/E (TTM) | 29.43 |
Price/book | 3.61 |
Return on Average Assets (%) (TTM) | 3.9 |
Return on Average Equity (%) (TTM) | 17.3 |
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