Arriyadh Development profit down 20% to SAR 261.7 mln in 9M 2022; Q3 at SAR 65.4 mln

01/11/2022 Argaam Exclusive

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Arriyadh Development Co. (ARDCO) reported a net profit after Zakat and tax of SAR 261.7 million in the first nine months of 2022, a 20% decline from SAR 325.2 million in the year-ago period.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	188.06	188.71	0.3 %
Gross Income	132.83	124.02	(6.6 %)
Operating Income	113.56	78.05	(31.3 %)
Net Income	325.23	261.73	(19.5 %)
Average Shares	177.78	177.78	0.0 %
EPS (Riyals)	1.83	1.47	(19.5 %)

The profit decline was attributed to lower income from Tanal Investment and Real Estate Development Co., an associate firm, by 17% on a decline in land sales despite higher average selling prices. In addition, the general and administrative expenses increased by 139%, mainly due to current lawsuit provisions of SAR 10.3 million, as well as the approved expenses by the board of directors for the transformation and institutional development.

The cost of revenue increased by 17% due to the essential maintenance works to improve the company’s assets, as well as improving operational efficiencies.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	61.91	63.71	2.9 %
Gross Income	41.49	40.65	(2.0 %)
Operating Income	33.44	21.83	(34.7 %)
Net Income	70.79	65.42	(7.6 %)
Average Shares	177.78	177.78	0.0 %
EPS (Riyals)	0.40	0.37	(7.6 %)

Item	Q2 2022	Q3 2022	Change‬
Revenues	63.90	63.71	(0.3 %)
Gross Income	43.28	40.65	(6.1 %)
Operating Income	24.01	21.83	(9.1 %)
Net Income	57.40	65.42	14.0 %
Average Shares	177.78	177.78	-
EPS (Riyals)	0.32	0.37	14.0 %

In Q3 2022, net profit fell 8% to SAR 65.4 million from SAR 70.8 million in the year before.

Sequentially, the company’s net profit rose 14% from SAR 57.4 million in Q2 2022.

Total Shareholders’ equity, after minority interest, grew to SAR 2.158 billion as of Sept. 30, 2022, from SAR 2.032 billion in the year-earlier period.

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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 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2012	347.41	76.4 %	250.24	76.3 %	234.33	80.9 %
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 %)

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

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	228.94	75.9 %	1.29	-	228.94	1.29
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

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 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	72.03 %	72.56 %	65.90 %
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 %

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 %

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

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	177.78	1.29	1.29	8.63
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

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

Period	P/E	Adjusted P/E	Price/book
2012	9.99	9.99	1.49
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

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	-	-

Period	Commercial Centers Sector	Public utility sector	Sale of Land and Contributions Sector	Joint Assets and liabilities
2012	139.27	46.25	161.90	-
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	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	4,871.17
Enterprise Value (EV) (M)	3,843.97
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)	14.19
P/E (TTM)	13.68
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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Arriyadh Development profit down 20% to SAR 261.7 mln in 9M 2022; Q3 at SAR 65.4 mln

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Financials (M)

Current Quarter Comparison (M)

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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)

Revenue by Business Segment (Latest) 2022 Q3

Financial Ratios

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Arriyadh Development Co. (ARDCO)

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Arriyadh Development profit down 20% to SAR 261.7 mln in 9M 2022; Q3 at SAR 65.4 mln

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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) Q3 2022

Revenue by Business Segment (Latest) 2022 Q3

Financial Ratios

Share Price

Arriyadh Development Co. (ARDCO)

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Business Segments (Million)