Riyadh Development net profit down 6% to SAR 300.4 mln in 2022; Q4 at SAR 38.7 mln

21/03/2023 Argaam Exclusive

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Riyadh Development Co. (ARDCO) reported a decline of 6% in net profit to SAR 300.4 million in 2022, from SAR 318.3 million a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	250.91	258.90	3.2 %
Gross Income	172.83	170.19	(1.5 %)
Operating Income	135.79	108.00	(20.5 %)
Net Income	318.31	300.36	(5.6 %)
Average Shares	177.78	177.78	0.0 %
EPS (Riyals)	1.79	1.69	(5.6 %)

The profit decline was attributed to a 16% year-on-year (YoY) drop in revenue from Tanal Real Estate Investment and Development Co., an associate company. This was due to the pullback in land sales volume, although average sale prices increased.

Cost of revenue rose 14% YoY as a result of ARDCO’s spending on maintenance to upgrade its assets and obtain mandatory safety certificates. In addition, the company expanded its operational team, which will enhance operational efficiency.

Zakat expenses increased by 36% YoY to SAR 12.6 million in 2022.

This was despite a 10% YoY drop in general and administrative expenses.

Operating revenue increased by SAR 8 million on the acquisition of an office building during Q4 2022. This was coupled with improved efficiency and occupancy rates in the company's assets reaching 93%.

Profits from Islamic Murabaha deposits increased by 469% YoY, given the uptick in both interest rates and the YoY jump in the volume of the company’s Murabaha deposits.

The company turned to a net profit of SAR 38.7 million in Q4 2022, against a loss of SAR 6.9 million in the year-ago period.

Sequentially, net profit fell nearly 41% from SAR 65.4 million in Q3 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	62.85	70.19	11.7 %
Gross Income	40.00	46.16	15.4 %
Operating Income	22.23	29.95	34.7 %
Net Income	(6.93)	38.63	657.8 %
Average Shares	177.78	177.78	0.0 %
EPS (Riyals)	(0.04)	0.22	657.8 %

Item	Q3 2022	Q4 2022	Change‬
Revenues	63.71	70.19	10.2 %
Gross Income	40.65	46.16	13.6 %
Operating Income	21.83	29.95	37.2 %
Net Income	65.42	38.63	(41.0 %)
Average Shares	177.78	177.78	-
EPS (Riyals)	0.37	0.22	(41.0 %)

Total shareholders’ equity, no minority interest, grew to SAR 2.19 billion as of Dec. 31, 2022, from SAR 2.02 billion a year earlier.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2013	167.04	18.8 %	121.28	24.9 %	115.76	27.3 %
Q2 2013	67.62	26.3 %	51.52	28.6 %	49.18	32.7 %
Q3 2013	59.06	30.1 %	43.56	30.6 %	41.24	37.6 %
Q4 2013	62.13	(42.4 %)	46.45	(41.7 %)	44.21	(42.1 %)
2013	355.85	2.4 %	262.82	5.0 %	250.38	6.9 %
Q1 2014	75.29	(54.9 %)	54.43	(55.1 %)	51.23	(55.7 %)
Q2 2014	66.70	(1.4 %)	50.01	(2.9 %)	47.00	(4.4 %)
Q3 2014	53.06	(10.2 %)	40.53	(7.0 %)	37.46	(9.2 %)
Q4 2014	56.25	(9.5 %)	43.55	(6.2 %)	40.44	(8.5 %)
2014	251.29	(29.4 %)	188.52	(28.3 %)	176.13	(29.7 %)
Q1 2015	100.06	32.9 %	76.97	41.4 %	72.35	41.2 %
Q2 2015	99.63	49.4 %	76.78	53.5 %	72.05	53.3 %
Q3 2015	107.71	103.0 %	83.17	105.2 %	79.66	112.7 %
Q4 2015	117.91	109.6 %	96.57	121.7 %	93.30	130.7 %
2015	425.31	69.3 %	333.48	76.9 %	317.36	80.2 %
Q1 2016	73.13	(26.9 %)	57.99	(24.7 %)	53.82	(25.6 %)
Q2 2016	1,038.58	942.5 %	139.95	82.3 %	135.26	87.7 %
Q3 2016	59.17	(45.1 %)	46.08	(44.6 %)	42.20	(47.0 %)
Q4 2016	64.89	(45.0 %)	53.63	(44.5 %)	47.29	(49.3 %)
2016	1,235.76	190.6 %	297.65	(10.7 %)	278.57	(12.2 %)
Q1 2017	63.27	(13.5 %)	51.06	(12.0 %)	47.78	(11.2 %)
Q2 2017	67.11	(93.5 %)	54.32	(61.2 %)	50.81	(62.4 %)
Q3 2017	60.19	1.7 %	47.72	3.5 %	44.98	6.6 %
Q4 2017	123.52	90.4 %	94.75	76.7 %	91.57	93.6 %
2017	314.09	(74.6 %)	247.85	(16.7 %)	235.14	(15.6 %)
Q1 2018	71.73	13.4 %	54.66	7.0 %	51.26	7.3 %
Q2 2018	74.37	10.8 %	56.79	4.5 %	53.01	4.3 %
Q3 2018	71.04	18.0 %	53.57	12.3 %	50.13	11.5 %
Q4 2018	65.85	(46.7 %)	50.34	(46.9 %)	47.98	(47.6 %)
2018	282.99	(9.9 %)	215.36	(13.1 %)	202.58	(13.8 %)
Q1 2019	61.53	(14.2 %)	45.10	(17.5 %)	41.96	(18.2 %)
Q2 2019	64.30	(13.5 %)	47.63	(16.1 %)	44.52	(16.0 %)
Q3 2019	61.22	(13.8 %)	44.64	(16.7 %)	40.75	(18.7 %)
Q4 2019	62.66	(4.8 %)	47.46	(5.7 %)	27.61	(42.4 %)
2019	249.70	(11.8 %)	184.82	(14.2 %)	154.84	(23.6 %)
Q1 2020	57.04	(7.3 %)	40.29	(10.7 %)	35.40	(15.6 %)
Q2 2020	57.41	(10.7 %)	41.22	(13.5 %)	37.62	(15.5 %)
Q3 2020	59.74	(2.4 %)	43.56	(2.4 %)	39.46	(3.2 %)
Q4 2020	63.54	1.4 %	43.56	(8.2 %)	34.10	23.5 %
2020	237.73	(4.8 %)	168.62	(8.8 %)	146.58	(5.3 %)
Q1 2021	63.14	10.7 %	46.27	14.9 %	41.83	18.1 %
Q2 2021	63.01	9.8 %	45.07	9.4 %	38.30	1.8 %
Q3 2021	61.91	3.6 %	41.49	(4.8 %)	33.44	(15.2 %)
Q4 2021	62.85	(1.1 %)	40.00	(8.2 %)	22.23	(34.8 %)
2021	250.91	5.5 %	172.83	2.5 %	135.79	(7.4 %)
Q1 2022	61.11	(3.2 %)	40.09	(13.4 %)	32.21	(23.0 %)
Q2 2022	63.90	1.4 %	43.28	(4.0 %)	24.01	(37.3 %)
Q3 2022	63.71	2.9 %	40.65	(2.0 %)	21.83	(34.7 %)
Q4 2022	70.19	11.7 %	46.16	15.4 %	29.95	34.7 %
2022	258.90	3.2 %	170.19	(1.5 %)	108.00	(20.5 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	355.85	2.4 %	262.82	5.0 %	250.38	6.9 %
2014	251.29	(29.4 %)	188.52	(28.3 %)	176.13	(29.7 %)
2015	425.31	69.3 %	333.48	76.9 %	317.36	80.2 %
2016	1,235.76	190.6 %	297.65	(10.7 %)	278.57	(12.2 %)
2017	314.09	(74.6 %)	247.85	(16.7 %)	235.14	(15.6 %)
2018	282.99	(9.9 %)	215.36	(13.1 %)	202.58	(13.8 %)
2019	249.70	(11.8 %)	184.82	(14.2 %)	154.84	(23.6 %)
2020	237.73	(4.8 %)	168.62	(8.8 %)	146.58	(5.3 %)
2021	250.91	5.5 %	172.83	2.5 %	135.79	(7.4 %)
2022	258.90	3.2 %	170.19	(1.5 %)	108.00	(20.5 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2013	114.98	23.2 %	0.65	-	114.98	0.65
Q2 2013	48.73	36.3 %	0.27	-	48.73	0.27
Q3 2013	40.67	41.7 %	0.23	-	40.67	0.23
Q4 2013	45.32	(36.4 %)	0.25	-	45.32	0.25
2013	249.69	9.1 %	1.40	-	249.69	1.40
Q1 2014	51.43	(55.3 %)	0.29	-	51.43	0.29
Q2 2014	47.03	(3.5 %)	0.26	-	47.03	0.26
Q3 2014	37.47	(7.8 %)	0.21	-	37.47	0.21
Q4 2014	53.43	17.9 %	0.30	-	53.43	0.30
2014	189.37	(24.2 %)	1.07	-	189.37	1.07
Q1 2015	71.19	38.4 %	0.40	-	71.19	0.40
Q2 2015	70.80	50.5 %	0.40	-	70.80	0.40
Q3 2015	67.91	81.2 %	0.38	(10.37)	78.29	0.44
Q4 2015	84.52	58.2 %	0.48	(8.09)	92.61	0.52
2015	294.43	55.5 %	1.66	(18.46)	312.89	1.76
Q1 2016	54.15	(23.9 %)	0.30	-	54.15	0.30
Q2 2016	132.80	87.6 %	0.75	-	132.80	0.75
Q3 2016	36.65	(46.0 %)	0.21	-	36.65	0.21
Q4 2016	37.64	(55.5 %)	0.21	-	37.64	0.21
2016	261.23	(11.3 %)	1.47	-	261.23	1.47
Q1 2017	43.29	(20.1 %)	0.24	-	43.29	0.24
Q2 2017	45.95	(65.4 %)	0.26	-	45.95	0.26
Q3 2017	45.64	24.5 %	0.26	-	45.64	0.26
Q4 2017	88.00	133.8 %	0.49	-	88.00	0.49
2017	222.34	(14.9 %)	1.25	-	222.34	1.25
Q1 2018	51.41	18.8 %	0.29	-	51.41	0.29
Q2 2018	53.12	15.6 %	0.30	-	53.12	0.30
Q3 2018	50.82	11.3 %	0.29	-	50.82	0.29
Q4 2018	48.38	(45.0 %)	0.27	-	48.38	0.27
2018	203.93	(8.3 %)	1.15	-	203.93	1.15
Q1 2019	42.84	(16.7 %)	0.24	-	42.84	0.24
Q2 2019	50.04	(5.8 %)	0.28	5.63	44.41	0.25
Q3 2019	40.90	(19.5 %)	0.23	-	40.90	0.23
Q4 2019	9.16	(81.1 %)	0.05	(17.82)	26.98	0.15
2019	142.94	(29.9 %)	0.80	(12.19)	155.13	0.87
Q1 2020	35.14	(18.0 %)	0.20	-	35.14	0.20
Q2 2020	54.56	9.0 %	0.31	-	54.56	0.31
Q3 2020	55.09	34.7 %	0.31	-	55.09	0.31
Q4 2020	83.14	808.0 %	0.47	-	83.14	0.47
2020	227.93	59.5 %	1.28	-	227.93	1.28
Q1 2021	111.03	216.0 %	0.62	-	111.03	0.62
Q2 2021	143.41	162.9 %	0.81	-	143.41	0.81
Q3 2021	70.79	28.5 %	0.40	-	70.79	0.40
Q4 2021	(6.93)	(108.3 %)	(0.04)	(37.27)	30.34	0.17
2021	318.31	39.7 %	1.79	(37.27)	355.58	2.00
Q1 2022	138.91	25.1 %	0.78	-	138.91	0.78
Q2 2022	57.40	(60.0 %)	0.32	-	57.40	0.32
Q3 2022	65.42	(7.6 %)	0.37	-	65.42	0.37
Q4 2022	38.63	657.8 %	0.22	(4.51)	43.14	0.24
2022	300.36	(5.6 %)	1.69	(4.51)	304.87	1.71

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	249.69	9.1 %	1.40	-	249.69	1.40
2014	189.37	(24.2 %)	1.07	-	189.37	1.07
2015	294.43	55.5 %	1.66	(18.46)	312.89	1.76
2016	261.23	(11.3 %)	1.47	-	261.23	1.47
2017	222.34	(14.9 %)	1.25	-	222.34	1.25
2018	203.93	(8.3 %)	1.15	-	203.93	1.15
2019	142.94	(29.9 %)	0.80	(12.19)	155.13	0.87
2020	227.93	59.5 %	1.28	-	227.93	1.28
2021	318.31	39.7 %	1.79	(37.27)	355.58	2.00
2022	300.36	(5.6 %)	1.69	(4.51)	304.87	1.71

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	73.42 %	74.06 %	67.04 %
Q2 2013	73.71 %	74.48 %	67.96 %
Q3 2013	73.74 %	74.86 %	68.63 %
Q4 2013	73.86 %	75.57 %	70.17 %
2013	73.86 %	75.57 %	70.17 %
Q1 2014	74.20 %	77.60 %	70.48 %
Q2 2014	73.89 %	77.25 %	70.09 %
Q3 2014	74.43 %	77.61 %	70.48 %
Q4 2014	75.02 %	77.94 %	75.36 %
2014	75.02 %	77.94 %	75.36 %
Q1 2015	76.46 %	78.60 %	75.76 %
Q2 2015	76.97 %	78.34 %	75.37 %
Q3 2015	77.13 %	78.18 %	75.27 %
Q4 2015	78.41 %	79.29 %	73.57 %
2015	78.41 %	79.29 %	73.57 %
Q1 2016	78.94 %	80.03 %	74.26 %
Q2 2016	28.24 %	28.58 %	26.76 %
Q3 2016	26.43 %	26.75 %	24.54 %
Q4 2016	24.09 %	24.18 %	21.14 %
2016	24.09 %	24.18 %	21.14 %
Q1 2017	23.71 %	23.88 %	20.42 %
Q2 2017	80.60 %	81.97 %	64.27 %
Q3 2017	80.92 %	82.74 %	67.53 %
Q4 2017	78.91 %	83.93 %	70.96 %
2017	78.91 %	83.93 %	70.79 %
Q1 2018	77.95 %	83.49 %	71.62 %
Q2 2018	76.99 %	82.92 %	72.21 %
Q3 2018	76.25 %	82.75 %	71.43 %
Q4 2018	76.10 %	81.81 %	71.99 %
2018	76.10 %	81.88 %	72.06 %
Q1 2019	75.45 %	81.87 %	71.55 %
Q2 2019	74.85 %	82.18 %	70.97 %
Q3 2019	74.22 %	81.66 %	69.80 %
Q4 2019	74.02 %	74.95 %	62.13 %
2019	74.02 %	74.95 %	62.13 %
Q1 2020	73.41 %	73.83 %	60.12 %
Q2 2020	72.84 %	73.33 %	66.12 %
Q3 2020	72.84 %	73.16 %	72.52 %
Q4 2020	70.93 %	77.27 %	95.87 %
2020	70.93 %	77.27 %	95.88 %
Q1 2021	71.61 %	77.87 %	124.60 %
Q2 2021	71.55 %	76.26 %	157.42 %
Q3 2021	70.11 %	73.39 %	162.31 %
Q4 2021	68.88 %	67.87 %	141.71 %
2021	68.88 %	67.87 %	141.71 %
Q1 2022	66.96 %	64.84 %	154.08 %
Q2 2022	66.01 %	59.20 %	119.09 %
Q3 2022	65.20 %	54.46 %	116.11 %
Q4 2022	65.73 %	56.54 %	117.76 %
2022	65.73 %	56.54 %	117.76 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	73.86 %	75.57 %	70.17 %
2014	75.02 %	77.94 %	75.36 %
2015	78.41 %	79.29 %	73.57 %
2016	24.09 %	24.18 %	21.14 %
2017	78.91 %	83.93 %	70.79 %
2018	76.10 %	81.88 %	72.06 %
2019	74.02 %	74.95 %	62.13 %
2020	70.93 %	77.27 %	95.88 %
2021	68.88 %	67.87 %	141.71 %
2022	65.73 %	56.54 %	117.76 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	72.61 %	71.93 %	68.83 %
Q2 2013	76.19 %	79.22 %	72.06 %
Q3 2013	73.76 %	78.09 %	68.86 %
Q4 2013	74.76 %	79.02 %	72.94 %
Q1 2014	72.30 %	74.60 %	68.32 %
Q2 2014	74.97 %	77.86 %	70.51 %
Q3 2014	76.39 %	79.90 %	70.63 %
Q4 2014	77.44 %	80.66 %	94.99 %
Q1 2015	76.93 %	77.24 %	71.15 %
Q2 2015	77.06 %	77.29 %	71.06 %
Q3 2015	77.21 %	78.56 %	72.68 %
Q4 2015	81.90 %	83.39 %	78.54 %
Q1 2016	79.30 %	80.51 %	74.04 %
Q2 2016	13.47 %	13.51 %	12.79 %
Q3 2016	77.89 %	79.88 %	61.95 %
Q4 2016	82.65 %	80.68 %	58.01 %
Q1 2017	80.69 %	83.51 %	68.41 %
Q2 2017	80.94 %	83.61 %	68.47 %
Q3 2017	79.28 %	83.20 %	75.83 %
Q4 2017	76.71 %	84.68 %	71.24 %
Q1 2018	76.19 %	81.59 %	71.66 %
Q2 2018	76.37 %	81.07 %	71.43 %
Q3 2018	75.41 %	82.33 %	71.53 %
Q4 2018	76.45 %	82.33 %	73.47 %
Q1 2019	73.31 %	81.80 %	69.64 %
Q2 2019	74.07 %	82.22 %	69.06 %
Q3 2019	72.91 %	80.22 %	66.81 %
Q4 2019	75.74 %	55.60 %	43.06 %
Q1 2020	70.63 %	77.55 %	61.60 %
Q2 2020	71.80 %	81.12 %	95.04 %
Q3 2020	72.91 %	79.75 %	92.22 %
Q4 2020	68.55 %	71.22 %	130.84 %
Q1 2021	73.28 %	79.83 %	175.84 %
Q2 2021	71.53 %	74.45 %	227.60 %
Q3 2021	67.01 %	67.98 %	114.34 %
Q4 2021	63.65 %	49.16 %	48.28 %
Q1 2022	65.60 %	67.88 %	227.32 %
Q2 2022	67.74 %	52.27 %	89.83 %
Q3 2022	63.81 %	49.01 %	102.70 %
Q4 2022	65.77 %	57.39 %	61.46 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2013	177.78	1.41	1.41	9.28
Q2 2013	177.78	1.48	1.48	8.98
Q3 2013	177.78	1.55	1.55	9.21
Q4 2013	177.78	1.40	1.40	9.46
Q1 2014	177.78	1.05	1.05	9.75
Q2 2014	177.78	1.04	1.04	9.16
Q3 2014	177.78	1.02	1.02	9.37
Q4 2014	177.78	1.07	1.07	9.61
Q1 2015	177.78	1.18	1.18	10.02
Q2 2015	177.78	1.31	1.31	9.67
Q3 2015	177.78	1.48	1.54	10.07
Q4 2015	177.78	1.66	1.76	10.56
Q1 2016	177.78	1.56	1.66	10.84
Q2 2016	177.78	1.91	2.01	10.61
Q3 2016	177.78	1.73	1.78	10.42
Q4 2016	177.78	1.47	1.47	10.66
Q1 2017	177.78	1.41	1.41	10.90
Q2 2017	177.78	0.92	0.92	10.47
Q3 2017	177.78	0.97	0.97	10.43
Q4 2017	177.78	1.25	1.25	11.05
Q1 2018	177.78	1.30	1.30	11.29
Q2 2018	177.78	1.34	1.34	10.93
Q3 2018	177.78	1.37	1.37	10.66
Q4 2018	177.78	1.15	1.15	11.63
Q1 2019	177.78	1.10	1.10	11.92
Q2 2019	177.78	1.08	1.05	11.57
Q3 2019	177.78	1.02	0.99	11.39
Q4 2019	177.78	0.80	0.87	10.84
Q1 2020	177.78	0.76	0.83	11.13
Q2 2020	177.78	0.79	0.89	10.93
Q3 2020	177.78	0.87	0.97	11.26
Q4 2020	177.78	1.28	1.28	11.14
Q1 2021	177.78	1.71	1.71	11.81
Q2 2021	177.78	2.21	2.21	11.99
Q3 2021	177.78	2.30	2.30	11.43
Q4 2021	177.78	1.79	2.00	11.37
Q1 2022	177.78	1.95	2.16	12.20
Q2 2022	177.78	1.46	1.67	12.02
Q3 2022	177.78	1.43	1.64	12.14
Q4 2022	177.78	1.69	1.71	12.36

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	177.78	1.40	1.40	9.46
2014	177.78	1.07	1.07	9.61
2015	177.78	1.66	1.76	10.56
2016	177.78	1.47	1.47	10.66
2017	177.78	1.25	1.25	11.05
2018	177.78	1.15	1.15	11.63
2019	177.78	0.80	0.87	10.84
2020	177.78	1.28	1.28	11.14
2021	177.78	1.79	2.00	11.37
2022	177.78	1.69	1.71	12.36

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	8.74	8.74	1.33
Q2 2013	8.75	8.75	1.44
Q3 2013	8.86	8.86	1.49
Q4 2013	11.30	11.30	1.68
Q1 2014	18.86	18.86	2.02
Q2 2014	16.22	16.22	1.84
Q3 2014	18.16	18.16	1.98
Q4 2014	14.36	14.36	1.59
Q1 2015	13.66	13.66	1.60
Q2 2015	12.21	12.21	1.65
Q3 2015	8.95	8.61	1.32
Q4 2015	8.30	7.81	1.30
Q1 2016	9.84	9.23	1.42
Q2 2016	7.98	7.57	1.44
Q3 2016	8.21	8.00	1.37
Q4 2016	11.61	11.61	1.60
Q1 2017	11.42	11.42	1.48
Q2 2017	16.09	16.09	1.41
Q3 2017	13.98	13.98	1.30
Q4 2017	11.17	11.17	1.27
Q1 2018	11.51	11.51	1.33
Q2 2018	9.98	9.98	1.22
Q3 2018	8.78	8.78	1.13
Q4 2018	11.48	11.48	1.13
Q1 2019	14.35	14.35	1.32
Q2 2019	13.79	14.21	1.29
Q3 2019	14.70	15.17	1.32
Q4 2019	18.66	17.19	1.38
Q1 2020	17.75	16.28	1.21
Q2 2020	18.78	16.65	1.35
Q3 2020	19.33	17.33	1.49
Q4 2020	13.40	13.40	1.54
Q1 2021	12.77	12.77	1.85
Q2 2021	11.08	11.08	2.04
Q3 2021	11.97	11.97	2.41
Q4 2021	14.19	12.70	2.23
Q1 2022	14.20	12.82	2.27
Q2 2022	15.39	13.46	1.87
Q3 2022	14.30	12.48	1.69
Q4 2022	10.70	10.54	1.46

Period	P/E	Adjusted P/E	Price/book
2013	11.30	11.30	1.68
2014	14.36	14.36	1.59
2015	8.30	7.81	1.30
2016	11.61	11.61	1.60
2017	11.19	11.19	1.27
2018	11.47	11.47	1.13
2019	18.66	17.19	1.38
2020	13.40	13.40	1.54
2021	14.19	12.70	2.23
2022	10.70	10.54	1.46

Business Segments (Million)

Compared With The

Period	Commercial Centers Sector	Public utility sector	Sale of Land and Contributions Sector	Joint Assets and liabilities
Q1 2013	30.86	18.39	117.79	-
Q2 2013	32.20	19.27	16.15	-
Q3 2013	29.69	19.66	9.71	-
Q4 2013	33.08	19.48	9.58	-
Q1 2014	26.63	24.81	23.84	-
Q2 2014	39.22	15.19	12.28	-
Q3 2014	32.44	20.62	-	-
Q4 2014	30.94	20.51	4.80	-
Q1 2015	32.11	21.23	46.72	-
Q2 2015	37.08	22.28	40.26	-
Q3 2015	32.60	22.25	52.85	-
Q4 2015	34.87	26.60	56.43	-
Q1 2016	34.59	21.99	16.55	-
Q2 2016	40.39	22.56	975.63	-
Q3 2016	36.30	22.86	-	-
Q4 2016	41.57	23.32	-	-
Q1 2017	41.17	22.11	-	-
Q2 2017	44.61	22.51	-	-
Q3 2017	37.50	22.69	-	-
Q4 2017	40.05	47.36	36.11	-
Q1 2018	37.07	34.66	-	-
Q2 2018	39.02	35.34	-	-
Q3 2018	36.02	35.02	-	-
Q4 2018	36.10	29.75	-	-
Q1 2019	36.37	25.16	-	-
Q2 2019	38.40	25.90	-	-
Q3 2019	34.74	26.48	-	-
Q4 2019	36.06	26.60	-	-
Q1 2020	31.10	25.94	-	-
Q2 2020	30.70	26.71	-	-
Q3 2020	30.85	28.89	-	-
Q4 2020	34.11	29.43	-	-
Q1 2021	34.87	28.27	-	-
Q2 2021	33.64	29.37	-	-
Q3 2021	31.40	30.51	-	-
Q4 2021	33.31	29.54	-	-
Q1 2022	31.98	29.12	-	-
Q2 2022	34.99	28.90	-	-
Q3 2022	38.27	25.44	-	-
Q4 2022	40.13	30.06	-	-

Period	Commercial Centers Sector	Public utility sector	Sale of Land and Contributions Sector	Joint Assets and liabilities
2013	125.82	76.80	153.22	-
2014	129.23	81.14	40.92	-
2015	136.67	92.36	196.28	-
2016	152.85	90.73	992.18	-
2017	163.32	114.67	36.11	-
2018	148.22	134.77	-	-
2019	145.57	104.13	-	-
2020	126.76	110.97	-	-
2021	133.22	117.69	-	-
2022	145.38	113.52	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	4,862.28
Enterprise Value (EV) (M)	3,835.08
Shares Outstanding ((M))	177.78
EPS ( Riyal) (TTM)	2.00
Book Value (BV) ( Riyal)	13.80
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	14.17
P/E (TTM)	13.65
Price/book	1.98
Return on Average Assets (%) (TTM)	13.0
Return on Average Equity (%) (TTM)	15.2

Arriyadh Development Co. (ARDCO)

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Riyadh Development net profit down 6% to SAR 300.4 mln in 2022; Q4 at SAR 38.7 mln

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Financials (M)

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Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

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Per Share Data (Riyal)

Per Share Data (Riyal)

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Revenue by Business Segment (Latest) 2022 Q4

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Arriyadh Development Co. (ARDCO)

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Riyadh Development net profit down 6% to SAR 300.4 mln in 2022; Q4 at SAR 38.7 mln

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2022

Revenue by Business Segment (Latest) 2022 Q4

Financial Ratios

Share Price

Arriyadh Development Co. (ARDCO)

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Business Segments (Million)