Riyadh Development earns SAR 296.1M in 2025, SAR 44.6M in Q4

03/03/2026 Argaam Exclusive

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Riyadh Development Co. (ARDCO) reported a net profit of SAR 296.1 million in 2025, compared to SAR 296.2 million a year earlier.


Financials (M)

Item 2024 2025 Change‬
Revenues 321.52 384.16 19.5 %
Gross Income 199.95 265.63 32.8 %
Operating Income 126.89 190.82 50.4 %
Net Income 296.20 296.06 0.0 %
Average Shares 177.78 233.93 31.6 %
Earnings Per Share before unusual items (Riyals) 1.62 1.16 (28.1 %)
EPS (Riyal) 1.67 1.27 (24.0 %)

The developer’s 2025 net profit remained in line with the previous year, despite 2024 results including gains of approximately SAR 123 million from the sale of land by the associate company, Tanal.

 

This was driven by a 19.5% increase year-on-year (YoY) in main operations revenue; a SAR 3 million drop YoY in operating costs; and a SAR 25 million fall YoY in general and administrative expenses, on improved efficiency and lower provisions for doubtful debts.

 

The company also cited higher other revenue, primarily due to the reversal of provisions for a potential liability, in addition to the recognition of a building that reverted to the company’s ownership upon the expiry of the land investment agreement under a build-operate-transfer (BOT) arrangement.
Further, Riyadh Development noted a SAR 6 million decrease YoY in Zakat provisions.


Current Quarter Comparison (M)

Compared With The
Item Q4 2024 Q4 2025 Change‬
Revenues 86.43 73.87 (14.5 %)
Gross Income 53.63 43.89 (18.1 %)
Operating Income 33.93 19.18 (43.5 %)
Net Income 89.57 44.58 (50.2 %)
Average Shares 177.78 233.93 31.6 %
Earnings Per Share before unusual items (Riyal) 0.53 0.15 (71.1 %)
EPS (Riyal) 0.50 0.19 (62.2 %)
Q4 2025 profit dropped 50% to SAR 44.6 million, compared to SAR 89.5 million in the prior-year period.
On a sequential basis, net profit fell by 69% from SAR 143.78 million in Q3 2025.
Total shareholders’ equity (no minority interest) amounted to SAR 4.12 billion as of Dec. 31, 2025, compared to SAR 2.54 billion in a year earlier period.

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