Entaj posts SAR 123.1M loss in 2025, SAR 74.2M in Q4
Arabian Company for Agricultural and Industrial Investments (Entaj) incurred net losses of SAR 123.1 million in 2025, against net earnings of SAR 27.1 million in 2024.
Financials (Million Riyal)
| Item | 2024 | 2025 | Change |
|---|---|---|---|
| Revenues | 1,279.70 | 1,351.15 | 5.6 % |
| Gross Income | 187.54 | 126.77 | (32.4 %) |
| Operating Income | 38.83 | (76.99) | (298.3 %) |
| Net Income | 27.10 | (123.05) | (554.1 %) |
| Average Shares | 30.00 | 30.00 | - |
| Earnings Per Share before unusual items (Riyals) | 1.03 | (4.20) | (508.1 %) |
| EPS (Riyal) | 0.90 | (4.10) | (554.1 %) |
Entaj said the losses were mainly driven by pricing pressure on market oversupply, which had a negative impact of SAR 132.7 million, alongside higher biological losses of SAR 35 million and increased inventory provisions of SAR 32.2 million.
It added that finance costs also increased, primarily due to recognizing borrowing costs in the income statement following the completion of its capital investment program, with an impact of SAR 38.9 million compared with 2024.
On the other hand, sales value and volume rose by 5.6% and 17.6% year-on-year (YoY), respectively, in 2025, aided by an expanded customer base across B2B and B2C segments.
The company also cited improvements in the sales mix, lower feed and input costs, enhanced feed conversion efficiency and higher operational efficiency, with a combined positive impact of SAR 82.4 million.
Current Quarter Comparison (Million Riyal)
| Item | Q4 2024 | Q4 2025 | Change |
|---|---|---|---|
| Revenues | 320.30 | 352.60 | 10.1 % |
| Gross Income | 18.40 | (5.10) | (127.7 %) |
| Operating Income | (12.25) | (58.98) | (381.3 %) |
| Net Income | (6.28) | (74.20) | (1,081.1 %) |
| Average Shares | 30.00 | 30.00 | - |
| Earnings Per Share before unusual items (Riyal) | (0.08) | (2.59) | (3,011.2 %) |
| EPS (Riyal) | (0.21) | (2.47) | (1,081.1 %) |
On a YoY basis, Entaj slid into a deeper loss of SAR 74.20 million in Q4 2025, compared to SAR 6.28 million in the prior-year period.
In Q3 2025, the company reported net profit of SAR 150,000.
Total shareholders’ equity – no minority interest – decreased to SAR 319.9 million as of Dec. 31, 2025, from SAR 460.6 million a year earlier.
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Share Price
Arabian Company for Agricultural and Industrial Investment (ENTAJ)
| Current | |
| Market Cap (M Riyal) | 766.80 |
| Enterprise Value (EV) (M Riyal) | 1,455.89 |
| Shares Outstanding ((M)) | 30.00 |
| Recurring EPS ( Riyal) (TTM) | (1.96) |
| Book Value (BV) ( Riyal) | 10.62 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | Neg |
| P/E (TTM) | NEG |
| Price/book | 2.41 |
| Return on Average Assets (%) (TTM) | (3.43 ) |
| Return on Average Equity (%) (TTM) | (14.89 ) |
| EV/adj EBITDA | 11.64 |
| EV/Revenues | 1.02 |
Financial results (Million Riyal)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2025 | 339.48 | (3.1 %) | 32.70 | (54.8 %) | (15.73) | (160.2 %) |
| Q2 2025 | 331.88 | 10.4 % | 81.90 | 33.6 % | 28.16 | 110.1 % |
| Q3 2025 | 327.19 | 6.1 % | 67.64 | 90.5 % | 22.70 | 96.2 % |
| Q4 2025 | 352.60 | 10.1 % | (5.10) | (127.7 %) | (58.98) | (381.3 %) |
| 2025 | 1,351.15 | 5.6 % | 126.77 | (32.4 %) | (76.99) | (298.3 %) |
Profit Performance (Million Riyal)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2025 | (14.35) | (165.3 %) | (0.48) | 13.26 | (27.61) | (0.92) |
| Q2 2025 | 18.50 | 163.5 % | 0.62 | 2.48 | 16.02 | 0.53 |
| Q3 2025 | 0.15 | (96.6 %) | 0.00 | (9.83) | 9.97 | 0.33 |
| Q4 2025 | (74.20) | (1,081.1 %) | (2.47) | 3.53 | (77.72) | (2.59) |
| 2025 | (123.05) | (554.1 %) | (4.10) | 2.98 | (126.03) | (4.20) |
Profitability
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2024 | 20.93 % | 10.65 % | 5.86 % |
| Q2 2024 | 21.90 % | 11.88 % | 6.33 % |
| Q3 2024 | 20.17 % | 12.31 % | 5.89 % |
| Q4 2024 | 14.65 % | 8.42 % | 2.41 % |
| 2024 | 14.65 % | 8.42 % | 2.41 % |
| Q1 2025 | 11.66 % | 5.51 % | (1.47 %) |
| Q2 2025 | 12.96 % | 6.61 % | (0.75 %) |
| Q3 2025 | 15.21 % | 8.91 % | (0.31 %) |
| Q4 2025 | 13.11 % | 6.78 % | (5.87 %) |
| 2025 | 9.38 % | 2.80 % | (9.33 %) |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2025 | 30.00 | (0.31) | (0.62) | 14.87 |
| Q2 2025 | 30.00 | 0.08 | (0.32) | 16.18 |
| Q3 2025 | 30.00 | (0.07) | (0.14) | 15.51 |
| Q4 2025 | 30.00 | (2.33) | (2.64) | 10.66 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2025 | NEG | NEG | 3.90 |
| Q2 2025 | More than 100 | NEG | 2.70 |
| Q3 2025 | NEG | NEG | 2.59 |
| Q4 2025 | NEG | NEG | 2.93 |
Business Segments (Million Riyal)
Q4 2025
| Period | Poultry sales | Table egg sales | Live birds sales | Red meat sales | Secondary product sales | Packaging Materials Sales Services | Hatchery Services Sales | Refrigerator sales | Other sales |
|---|---|---|---|---|---|---|---|---|---|
| Q1 2025 | 304.99 | 18.37 | - | 0.24 | 9.87 | 4.54 | 1.48 | - | - |
| Q2 2025 | 303.40 | 15.06 | 0.51 | 0.15 | 7.71 | 5.05 | 0.01 | - | - |
| Q3 2025 | 302.54 | 16.07 | 0.65 | 0.08 | 6.49 | 1.36 | - | - | - |
| Q4 2025 | 321.14 | 24.78 | 0.28 | - | 8.26 | 1.66 | - | - | - |
Analysts Estimates (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change | Profit Before Unusual Items | Change |
|---|---|---|---|---|---|
| Average | (22.35) | (74.20) | (77.72) |
Estimates vs Actual (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change | Profit Before Unusual Items | Change |
|---|---|---|---|---|---|
| SNB Capital | (39.70) | (74.20) | (77.72) | ||
| GIB Capital | (5.00) | (74.20) | (77.72) |
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