NADEC
| Name | NADEC | |
| Sector | Agriculture Forestry and Fisheries - Crops | |
| Trading | Tadawul | |
| RIC Code | 6010.SE | |
| Location | SAUDI ARABIA |
Profile and Background
National Agricultural Development Company (Nadec) was founded in 1981 as a joint stock company. It was based on an experimental farm set up with Saudi Aramco support in Haradh in the 1940s. It is the largest and most consistently successful joint stock farming company in the kingdom.
Nadec has developed a wide range of farming activities including grain cultivation, animal husbandry and date production. It has diversified into food processing and has developed projects in several different parts of the country.
At present, the company has two dairy plants with combined annual capacity of 1 million liters a day. In the financial year ending 31 July 1997, it owned 116,096 head of sheep. In that year, its farms produced 1,000 tonnes of dates, 176,439 tonnes of animal feed, 22,000 tonnes of potatoes, 10,400 tonnes of onions, 1,600 tonnes of tomatoes, 2,000 tonnes of other vegetables and 6,700 kilos of honey.
Recently completed projects include a new dairy factory in Haradh. Nadec is considering plans to build a date processing plant in Haradh and is studying large-scale honey projects.Nadec's financial performance has fluctuated sharply.
Profits hit a peak of more than SR 90 million ($24 million) in the financial year ending the summer of 1993. They then tailed off sharply, and reached a low of SR 4.6 million ($1.2 million) in the year ending July 1996.
In 1996/97, profits recovered strongly to SR 13.8 million ($3.7 million) on a 12 per cent increase in sales. The company declared a 7 per cent cash dividend for the year after making no dividend pay-out for the previous period.
In 1998, sales revenue rose by 51 per cent to SR 690.8 million ($184 million). However, this was offset by higher operating costs and net income for the year fell to SR 11.4 million ($3 million).
Nadec has developed a wide range of farming activities including grain cultivation, animal husbandry and date production. It has diversified into food processing and has developed projects in several different parts of the country.
At present, the company has two dairy plants with combined annual capacity of 1 million liters a day. In the financial year ending 31 July 1997, it owned 116,096 head of sheep. In that year, its farms produced 1,000 tonnes of dates, 176,439 tonnes of animal feed, 22,000 tonnes of potatoes, 10,400 tonnes of onions, 1,600 tonnes of tomatoes, 2,000 tonnes of other vegetables and 6,700 kilos of honey.
Recently completed projects include a new dairy factory in Haradh. Nadec is considering plans to build a date processing plant in Haradh and is studying large-scale honey projects.Nadec's financial performance has fluctuated sharply.
Profits hit a peak of more than SR 90 million ($24 million) in the financial year ending the summer of 1993. They then tailed off sharply, and reached a low of SR 4.6 million ($1.2 million) in the year ending July 1996.
In 1996/97, profits recovered strongly to SR 13.8 million ($3.7 million) on a 12 per cent increase in sales. The company declared a 7 per cent cash dividend for the year after making no dividend pay-out for the previous period.
In 1998, sales revenue rose by 51 per cent to SR 690.8 million ($184 million). However, this was offset by higher operating costs and net income for the year fell to SR 11.4 million ($3 million).
Shareholding Groups
| Individuals | N/A |
| Institutions | N/A |
| Floating | N/A |
| Government | 20% |
Stock Performance
Market Information
| Stock | Saudi_Arabia Index | |
| Last Closing | SAR 40 | 3424.18 |
| YTD % |  -1.086% |  0% |
| Weekly % | -0.727% |  5.55% |
| Year High | SAR 70.03 | 9083.39 |
| Year Low | SAR 40.01 | 3296.01 |
| 52 Week High | SAR 161.46 | 4532.55 |
| 52 Week Low | SAR 34.76 | 2983.01 |
| BETA | 1.8161 | |
| Outstanding Shares | 40,000,000 | |
| Market Cap | SAR 1,600,000,000 | |
| Market Cap in $ | USD $426,666,667 | |
| % of Saudi_Arabia Market | 0.13% | |
| % of Sector | 14.90% | |
| Rank by Cap | 54 |
Key Figures in '000 SAR
| 2004 | 2003 | 2002 | |
| Total Assets | 1,103,532 | 1,066,132 | 1,050,127 |
| Shareholder's Equity | 883,732 | 867,624 | 861,277 |
| NIAT | 58,332 | 27,545 | -13,737 |
| Dividends | 40,000 | 24,000 | N/A |
Financial Ratios
| 2004 | 2003 | 2002 | |
| Assets Growth | 3.51% | 1.52% | -2.39% |
| Earning Growth | 111.77% | 0.00% | 0.00% |
| ROaA | 5.38% | 2.60% | -1.29% |
| ROaE | 6.66% | 3.19% | -1.58% |
| No. Of Shares | 8,000,000 | 8,000,000 | 8,000,000 |
| EPS | 7.29 | 3.44 | -1.72 |
| EPS Growth | 111.77% | 0.00% | 0.00% |
| Payout Ratio | 68.572 | 87.131 | N/A |
Valuation Ratios
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| PE | |
| PB | |
| DVPS | |
| Div Yield | |
| EV | |
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