Riyad Capital issues Q4 2022 earnings forecasts for Saudi banks, firms under coverage

10/01/2023 Argaam Special

Riyad Capital issues Q4 2022 earnings forecasts for Saudi banks, firms under coverage

Tadawul trading screen


Riyad Capital released Q4 2022 earnings forecasts for several Tadawul-listed banks and firms under its coverage.

 

Saudi Basic Industries Corporation (SABIC) is expected to post a 70% year-on-year (YoY) plunge in net profit to SAR 1.5 billion in Q4 2022. On the flip side, Al Rajhi Bank is likely to post a 9% profit rise YoY to SAR 4.38 billion in the three-month period.  

 

Riyad Capital’s Q4 2022 Profit Forecasts (SAR mln)

Company

Q4 2022

YoY Change

Banking Sector

BSF

1022

+3%

SABB

1274

+198%

ANB

891

+95%

Al Rajhi Bank

4382

+9%

Bank Albilad

528

+23%

Alinma Bank

944

+52%

SNB

4675

+58%

Petrochemicals

SABIC

1501

(70%)

SABIC Agri-Nutrients

1911

(31%)

Tasnee

38

(89%)

Yansab

(29)

--

Sipchem

518

(61%)

Advanced

20

(88%)

Saudi Kayan

(515)

--

SIIG

51

(58%)

Telecommunications

stc

2804

+7%

Mobily

383

+19%

Zain KSA

87

+22%

Cement

Yamama Cement

109

--

Saudi Cement

105

+56%

Qassim Cement

41

+21%

Southern Cement

100

+13%

Yanbu Cement

72

+629%

Other Sectors

Almarai

323

+13%

Jarir

259

(1%)

SEC*

1043

--

Sulaiman Al Habib

447

+13%

BinDawood Holding

(7)

--

solutions

306

+167%

Elm

226

+105%

Nomu-Parallel Market  

Riyadh Cement

97

+90%

Burgerizzr

5

(44%)

Al Hasoob

3.7

(41%)

* Saudi Electricity Co. (SEC) net loss stood at SAR 888 million, after Mudaraba instrument 

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