Osool & Bakheet issues Q1 2020 earnings forecasts for Saudi banks, firms

09/04/2020 Argaam Special

 

Osool and Bakheet Investment Co. released Q1 2020 earnings forecasts for several Saudi banks and firms under its coverage.

 

Saudi Basic Industries Corporation (SABIC) is expected to post a 94% profit drop year-on-year (YoY) to SAR 217 million in Q1 2020.

 

Al Rajhi Bank’s earnings are seen down 8% YoY to SAR 2.4 billion in Q1 2020.

 

STC’s profits are forecast to grow 16% YoY to SAR 3.2 billion by the end of Q1 2020.

 

Below is a list of Osool and Bakheet’s estimates, as compiled by Argaam.

 

Q1 Net Profit Forecasts (SAR mln)

Company

Q1 2020 (Expected)

YoY Change

Average estimates

Banks

Riyad

1200.0

(19%)

Average estimates

Jazira

238.0

+1%

Average estimates

ANB

650.0

(17%)

Average estimates

Al Rajhi

2400.0

(8%)

Average estimates

Alinma

586.0

(8%)

Average estimates

Basic Materials

SABIC

217.0

(94%)

Average estimates

SAFCO

330.0

(2%)

Average estimates

Yansab

76.0

(81%)

Average estimates

Hail Cement

47.4

+110%

Average estimates

Najran Cement

44.2

+ 629%

Average estimates

City Cement

60.0

+45%

Average estimates

Umm Al-Qura Cement

33.5

+56%

Average estimates

Arabian Cement

72.4

+95%

Average estimates

Yamama Cement

104.5

+48%

Average estimates

Qassim Cement

172.7

+30%

Average estimates

Southern Cement

122.1

+118%

Average estimates

Yanbu Cement

184.8

+54%

Average estimates

Tabuk Cement

90.6

+25%

Average estimates

Eastern Cement

13.0

+258%

Average estimates

Arabian Pipes

67.6

+47%

Average estimates

Zahrat Al Waha

2.7

(67%)

Average estimates

Healthcare

Mouwasat

111.3

+4%

Average estimates

Al Hammadi

24.4

+1%

Average estimates

Care

21.3

(29%)

Average estimates

Telecom

STC

3200.0

+16%

Average estimates

Mobily

95.0

+41%

Average estimates

Zain

130.0

+1%

Average estimates

Others

SACO

9.8

(49%)

Average estimates

Jarir

209.5

(10%)

Average estimates

eXtra

42.4

+25%

Average estimates

SGS

42.3

(59%)

Average estimates

Catering

71.6

(31%)

Average estimates

 

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