Aljazira Capital has published its Q2 2019 estimates for 38 Saudi companies and banks under its coverage.
Saudi Basic Industries Corporation (SABIC) is likely to post a 50 percent fall year-on-year (YoY) in Q2 net profit to SAR 3.36 billion. Yansab’s net profit is forecast to drop 49 percent YoY.
Blue chip Al Rajhi Bank’s earnings are expected to rise 13 percent YoY to SAR 2.90 billion.
Saudi Telecom Co. (STC) is projected to report a net profit of SAR 2.71 billion in Q2 2019, a rise of 11 percent YoY.
“Zain is expected to post positive bottom line with higher expected margins and improved topline. Whereas Mobily on improved margins and top line is expected to post earnings of SAR 68.7mn,” Aljazira Capital said.
In the cement sector, Saudi Cement Co. is likely to post an 87.5 percent YoY increase in Q2 net income to SAR 108.8 million.
Elsewhere, net profit of National Medical Care Co. and Dallah Healthcare Co. is expected to rise 68 percent and 10 percent YoY, respectively.
The retail sector is expected to post positive profit growth in Q2 2019, driven by higher revenue and gross margins.
“Combined result of these companies is expected to show a drop of -26 percent Y/Y, impacted by -55 percent Y/Y drop in petrochemical sector,” the report issuer added.
Below is a list of Aljazira Capital’s estimates, as compiled by Argaam.
|
Aljazira Capital’s Q2 Net Profit Forecasts (SAR mln) |
||
|
Company |
Q2 2019E |
Variation |
|
Banks |
||
|
Al Rajhi |
2,901.0 |
+13% |
|
Alinma |
716.2 |
+15% |
|
Albilad |
326.1 |
+18% |
|
Telecom |
||
|
STC |
2,707.0 |
+11% |
|
Mobily |
68.7 |
-- |
|
Zain |
136.0 |
-- |
|
Basic Materials |
||
|
SABIC |
3,360.1 |
(50%) |
|
Tasnee |
106.4 |
(73%) |
|
Yansab |
415.7 |
(49%) |
|
SAFCO |
405.0 |
(1%) |
|
SIPCHEM* |
258.1 |
(40%) |
|
Advanced |
169.5 |
(33%) |
|
Kayan |
(291.2) |
-- |
|
Petrochem |
156.8 |
(46%) |
|
Ma’aden |
(142.1) |
-- |
|
Yamama Cement |
55.3 |
-- |
|
Saudi Cement |
108.8 |
+88% |
|
Southern Cement |
109.3 |
+203% |
|
Qassim Cement |
56.6 |
+208% |
|
Arabian Cement |
25.8 |
-- |
|
Yanbu Cement |
49.7 |
+965% |
|
City Cement |
36.8 |
+272% |
|
Eastern Cement |
39.5 |
+110% |
|
Healthcare |
||
|
Al Hammadi |
21.7 |
+9% |
|
Mouwasat |
83.9 |
(5%) |
|
Care |
22.2 |
+10% |
|
Dallah |
31.5 |
+68% |
|
Saudi German |
28.3 |
(17%) |
|
Food |
||
|
Almarai |
631.9 |
(4%) |
|
Other |
||
|
Jarir |
176.1 |
+8% |
|
Seera |
112.0 |
+137% |
|
Budget Saudi |
40.8 |
-- |
|
Catering |
123.0 |
+2% |
|
Al Othaim |
77.2 |
+4% |
|
Bahri |
137.2 |
(28%) |
|
SGS |
123.3 |
+9% |
|
Alhokair** |
250.8 |
+1% |
|
SACO |
21.5 |
+5% |
*The company has acquired Sahara in May 2019/
**Financial results of Q1 as FY ends ending March 31.
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