Aljazira Capital published its Q2 2020 earnings estimates for 36 Tadawul-listed banks and firms under its coverage.

 

Saudi Basic Industries Corporation (SABIC) is expected to incur net losses of SAR 187.4 million in Q2 2020. Al Rajhi Bank’s earnings are projected to drop 21% year-on-year (YoY) to SAR 2.03 billion.

 

STC’s second quarter net profit is likely to grow by 3% YoY to SAR 2.92 billion.

 

In the cement sector, Arabian Cement Co. and Saudi Cement Co. are forecast to report a fall of 59% and 28% YoY in Q2 2020 net profit to SAR 15.5 million and SAR 66.7 million, respectively.

 

Below is a list of Aljazira Capital’s estimates, as compiled by Argaam.

 

Aljazira Capital Profit Estimates - (SAR mln)

 

Company

Q2 2020 estimates

YoY change

 

Banking Sector

 

Al Rajhi Bank

2033.4

(21%)

 

Alinma Bank

373.1

(45%)

 

Bank Albilad

279.9

(8%)

 

Telecommunication Sector

 

STC

2920.8

+3%

 

Mobily

105.1

+178%

 

Zain

109.4

(16%)

 

Materials Sector

 

SABIC

(187.4)

--

 

Tasnee

17.5

(94%)

 

Yansab

124.5

(61%)

 

SAFCO

258.9

(32%)

 

Sipchem

(41.3)

--

 

Advanced Petrochemical

144.9

(25%)

 

Kayan

(234.8)

--

 

Petrochem

(177.1)

--

 

Maaden

(382.2)

--

 

Yamama Cement

56.6

+7%

 

Saudi Cement

66.7

(28%)

 

Southern Province Cement

95.5

+5%

 

Qassim Cement

63.6

(10%)

 

Arabian Cement

15.5

(59%)

 

Yanbu Cement

40.9

+2%

 

City Cement

33.6

+4%

 

Eastern Province Cement

36.2

+14%

 

Health Care Sector

 

Al Hammadi

16.4

(18%)

 

Mouwasat

77.2

(15%)

 

Care

11.3

(18%)

 

Dallah Healthcare

10.1

(35%)

 

Saudi German Hospital

10.3

(16%)

 

Retailing Sector

 

Jarir

183.0

+8%

 

Fawaz Al Hokair*

129.4

(42%)

 

Saco

9.2

(57%)

 

Consumer Services Sector

 

Seera Holding

(119.7)

--

 

Other Sectors

 

Budget Saudi

20.4

(53%)

 

Saudi Catering

(169.4)

--

 

SGS

(158.9)

--

 

Al Othaim

92.8

+58%

 

*The fiscal year ends March 2020.

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