Latest news with #Nadec
Zawya
28-07-2025
- Business
- Zawya
Saudi: Nadec's profits cross $58.26mln in H1-25; sales up 12%
Riyadh – National Agricultural Development Company (Nadec) recorded an annual rise of 2.56% in net profit to SAR 218.68 million during the first half (H1) of 2025, versus SAR 213.21 million. Nadec reported sales amounting to SAR 1.84 billion as of 30 June 2025, up 11.79% year-on-year (YoY) from SAR 1.64 billion, according to the financial results. The earnings per share (EPS) edged up to SAR 0.72 in H1-25 from SAR 0.71 a year earlier. Income Statements for Q2-25 In the second quarter (Q2) of 2025, the company achieved profits valued at SAR 115.26 million, marking a 3.02% YoY jump from SAR 111.88 million. The revenues grew by 5.11% to SAR 830.47 million in Q2-25 from SAR 790.06 million a year earlier. Quarter-on-quarter (QoQ), the Q2-25 net profits climbed by 11.44% from SAR 103.42 million in Q1-25, while revenues shrank by 17.89% from SAR 1.01 billion. In the 12-month period that ended on 31 December 2024, Nadec registered 156.45% YoY higher net profits at SAR 774.63 million, compared to SAR 302.06 million. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
Zawya
07-07-2025
- Business
- Zawya
Nadec's unit launches $533mln livestock project to boost local meat production
Riyadh - Al-Ra'i National Livestock Company, a subsidiary of the National Agricultural Development Company (Nadec), launched a SAR 2 billion project in the Hail region. The intensive livestock farming and meat production project includes SAR 1.10 billion in government financing from the Agricultural Development Fund (ADF), according to a bourse disclosure. The project aims to develop integrated facilities for raising sheep and goats using advanced technologies, which will contribute to increasing local meat production, lowering dependency on imports, and empowering small-scale farmers. This will achieve sectoral sustainability in line with the goals of Saudi Vision 2030. The initiative is expected to reach a production capacity of one million heads of sheep annually by 2030. Moreover, Al Raie signed three memorandums of understanding (MoUs) with the University of Hail, the Sulaiman Al-Rajhi Foundation for Development Finance, and the Entag Association for Productive Families in Hail. The MoUs focus on student training, research, supporting productive families, developing local industries, such as wool and leather, and implementing social responsibility programs. They also aim to boost the project's developmental, economic, and social impact in Hail and across the Kingdom. It is worth highlighting that Nadec holds a 51% stake in Al-Ra'I, along with Al Muhaidib Group. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
24-03-2025
- Business
- Zawya
Nadec unit secures $293mln funding for new livestock farming project
National Agricultural Development Company (Nadec) said its subsidiary has secured 1.1 billion Saudi riyals ($293.2 million) in funding from the state-owned Agricultural Development Fund (ADF) for establishing an intensive livestock farming project (sheep and goats) for breeding and meat production. The funding, secured by Al-Ra'i National Livestock Company, has a 15-year duration, including a three-year grace period, the company said in a statement to the Saudi Stock Exchange on Monday. The funds will be released subject to project execution milestones. However, the terms of lending were not revealed. Nadec has mortgaged one of its lands in the Wadi Al-Dawasir region and issued corporate guarantees to ADF. The project aims to enhance local red meat production by developing integrated sheep and goat farming facilities, thereby boosting domestic production. The new project aligns with Nadec's strategy to strengthen food security under Vision 2030, the statement added. (Editing by Seban Scaria
Argaam
24-03-2025
- Business
- Argaam
NADEC's subsidiary signs financing agreement with ADF for up to SAR 1.1B
National Agricultural Development Co. (NADEC) said that its subsidiary, AlRai National for Livestock (a limited liability company, 51% owned by Nadec), signed a financing agreement with the Agricultural Development Fund (ADF) to fund the establishment of a project focused on intensive livestock breeding (sheep and goats), reproduction, and meat production, with a ceiling of up to SAR 1.1 billion. The financing amount will be disbursed in stages based on the project's progress and the submission of required documents. According to a statement to Tadawul, the 15-years agreement was signed on March 23, with three years grace period. The company clarified that the partners provided guarantees in proportion to their shares in the company, with Nadec offering one of its lands in Wadi Al-Dawasir as collateral, in addition to providing corporate guarantees from the partners in accordance with the approved format by the Agricultural Development Fund. The agreement was signed under the sponsorship of the Minister of Environment, Water and Agriculture (MEWA) Abdulrahman AlFadley, the statement noted, adding that the project aims to enhance local red meat production by developing integrated facilities for breeding (sheep and goats), contributing to increased domestic production. This project is part of NADEC's strategy to strengthen food security within the framework of Saudi Arabia's Vision 2030.
Zawya
25-02-2025
- Business
- Zawya
Nadec's profits leap 156.5% in 2024 following Arabian Mills' IPO
Riyadh: National Agricultural Development Company (Nadec) logged net profits amounting to SAR 774.63 million in 2024, higher by 156.45% than SAR 302.06 million in 2023. Revenues edged up by 0.73% year-on-year (YoY) to SAR 3.22 billion in 2024 from SAR 3.19 billion, according to the financial results. The earnings per share (EPS) grew to SAR 2.57 last year from SAR 1.77 at the end of December 2023. As part of Arabian Mills' initial public offering (IPO), all the shareholders of Arabian Mills including Nadec offered to sell 30% of their existing shares during the IPO process. Accordingly, Nadec gained SAR 103.19 million on sales of 30% of shares and also recognised a fair value gain of SAR 253.32 million on remaining shares. In the first nine months (9M) of 2024, Nadec's net profits hiked by 83.39% to SAR 326.59 million from SAR 178.08 million in 9M-23.
