Al-Jouf Agricultural 2024 profit leaps 22% to SAR 75.3M; Q4 at SAR 8.2M

26/02/2025 Argaam Exclusive

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Al-Jouf Agricultural Development Co. posted a 22% profit leap in 2024 to SAR 75.3 million, compared to SAR 62 million in the year-earlier period.

Financials (M)

Item	2023	2024	Change‬
Revenues	426.44	582.79	36.7 %
Gross Income	126.35	176.72	39.9 %
Operating Income	56.17	84.77	50.9 %
Net Income	61.97	75.30	21.5 %
Average Shares	30.00	30.00	-
Earnings Per Share before unusual items (Riyals)	1.66	2.51	51.0 %
EPS (Riyals)	2.07	2.51	21.5 %

Full-year earnings were driven by a SAR 156 million increase in sales and improved productivity of cultivated areas.

However, Al-Jouf Agricultural reported lower profit from agricultural products and higher selling, distribution and general administrative expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	114.52	162.19	41.6 %
Gross Income	26.52	33.15	25.0 %
Operating Income	8.40	10.00	19.0 %
Net Income	16.48	8.17	(50.4 %)
Average Shares	30.00	30.00	-
Earnings Per Share before unusual items (Riyals)	0.25	0.27	9.4 %
EPS (Riyals)	0.55	0.27	(50.4 %)

Item	Q3 2024	Q4 2024	Change‬
Revenues	147.05	162.19	10.3 %
Gross Income	44.66	33.15	(25.8 %)
Operating Income	20.40	10.00	(51.0 %)
Net Income	18.64	8.17	(56.2 %)
Average Shares	30.00	30.00	-
Earnings Per Share before unusual items (Riyals)	0.62	0.27	(56.2 %)
EPS (Riyals)	0.62	0.27	(56.2 %)

The fourth-quarter net earnings dropped 50.4% to SAR 8.2 million from SAR 16.48 million in Q4 2023.

On a sequential basis, the bottom line fell 56.2% from SAR 18.64 million in Q3 2024.

Shareholders’ equity, no minority interest, rose to SAR 754.9 million as of Dec. 31, 2024, from SAR 718.6 million a year earlier.

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