NADEC makes SAR 329.4M profit in 9M 2025; Q3 at SAR 110.7M

National Agricultural Development Co. (NADEC) reported a marginal increase of 0.8% in net profit to SAR 329.4 million in the first nine months of 2025, compared to SAR 326.6 million a year earlier.

The nine-month profit was bolstered by a 10.12% year-on-year (YoY) rise in revenues, driven by higher sales in the dairy and food manufacturing segment (+1%), protein segment (+66.58%), and growth in the agricultural segment.

Meanwhile, losses from the disposal of biological assets declined YoY, as the company received SAR 3 million in export incentives and SAR 3.15 million in dividends from its investment in Arabian Mills for Food Products Co.

NADEC’s treasury income increased 10.88% YoY, thanks to higher returns on bank Murabaha deposit investments. Additionally, gross profit and operating profit rose 2.08% and 6.54% YoY, respectively.

Conversely, the cost of sales-to-revenue ratio increased 2.73%, driven by changes in the product mix and higher production costs. Selling and marketing expenses rose 4.76% YoY on higher distribution costs.

Finance costs also increased 14.76%, mainly due to higher lease-related interest expenses.

In the first nine months of 2024, the company recognized SAR 24.04 million as its share of profit from a joint venture investment, compared to null in the current period.

The third-quarter net earnings declined 2.4% to SAR 110.7 million, from SAR 113.3 million in Q3 2024.

Likewise, NADEC’s net earnings saw a decrease of 4% from SAR 115.2 million in Q2 2025.

Shareholders’ equity, no minority interest, rose to SAR 4.56 billion as of Sept. 30, 2025, from SAR 3.91 billion a year earlier.

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