Osool & Bakheet Investment Co. released Q2 2024 earnings forecasts for 46 Tadawul-listed banks and companies.
Al Rajhi Bank is expected to report profits of nearly SAR 4.6 billion, up 10% year-on-year (YoY). Meanwhile, petrochemical major Saudi Basic Industries Corp.’s (SABIC) net profit is forecast to sink 54% YoY to SAR 537 million.
Q2 2024 Earnings Forecast (SAR mln)
Company
Q2 2024
Change YoY
Banks
Al Rajhi Bank
4557.35
+10%
SNB
5206.56
+4%
Bank AlJazira
316.18
+21%
Banque Saudi Fransi
1232.58
+15%
SAB
1959.50
+26%
Bank Albilad
628.29
+7%
Alinma Bank
1385.78
+13%
SAIB
453.85
+2%
ANB
1147.08
+16%
Riyad Bank
2046.81
+3%
Materials
City Cement
35.98
+48%
Umm Al-Qura Cement
15.08
+724%
Saudi Cement
102.50
+20%
Qassim Cement
78.52
+106%
Southern Cement
54.88
+188%
Yanbu Cement
42.88
+22%
Eastern Cement
60.49
+18%
Yamama Cement
106.36
+8%
SABIC
536.97
(54%)
Saudi Kayan
(486.27)
--
Sipchem*
189.41
(39%)
SABIC AN
689.46
+6%
Advanced
52.94
(12%)
Alujain**
19.26
+14%
Healthcare
Mouwasat
167.12
+11%
Al Hammadi
79.78
(3%)
Sulaiman Al Habib
539.21
+11%
Care
69.28
+45%
Dallah
105.65
+99%
Saudi German Health
47.90
+19%
Telecommunications
stc
3067.05
+2%
Mobily
635.85
+28%
Insurance
Al Rajhi Takaful
137.19
+81%
Tawuniya
287.62
+17%
Bupa Arabia
401.55
+8%
Others
Avalon Pharma
27.55
+53%
Astra
132.27
+15%
Jamjoom Pharma
109.44
+27%
Nahdi
260.98
(1%)
Aldawaa
103.50
+16%
Jarir
205.65
+32%
Al Othaim
105.24
(25%)
Budget Saudi
67.52
(4%)
Theeb
42.17
+41%
Lumi
44.47
(10%)
Herfy
3.55
(22%)
*Included settlement of the insurance claim for the Hail factory fire amounting to SAR 53 million.
**Excluding non-operating gains from selling Natpet Co.