SNB Capital issues Q1 2022 profit forecasts for Saudi banks, firms

06/04/2022 Argaam Special

Tadawul trading screen


SNB Capital issued Q1 2022 profit forecasts for a number of Saudi banks and other companies, including Saudi Basic Industries Corp. (SABIC), Al Rajhi Bank and Saudi Electricity Co. (SEC

 

SABIC is projected to report a net profit of SAR 5.04 billion for Q1 2022, while Al Rajhi Bank’s earnings are expected to rise by 20% year-on-year (YoY) to nearly SAR 4 billion in the three-month period.   

 

The following table shows SNB Capital’s Q1 2022 profit forecasts for some banks and companies under coverage:

 

 

SNB Capital’s Q1 2022 Profit Forecasts

Company

Q1 2022

Variation vs. Q4 2020

Petrochemicals

SABIC

5035

+4%

SIIG

174

(43%)

Yansab

342

(19%)

Advanced

174

+ 2 %

Tasnee

349

7%+

Sipchem

1175

+186%

SABIC Agri-Nutrients

2745

+549%

Saudi Kayan

513

+4%

Petrochem

225

(28%)

Banks

Al Rajhi Bank

3989

+20%

Alinma Bank

753

+17%

BSF

862

+11%

Bank Albilad

410

+4%

Bank AlJazira

262

(19%)

Telecommunication Services

stc

2968

+1%

Mobily

292

+29%

Zain KSA

43

+5%

solutions

218

+6%

Food & Agriculture

Savola

176

+14%

Almarai

323

(16%)

Healthcare

Saudi German Health

6

(50%)

Mouwasat

150

+2%

Al Hammadi

23

(35%)

Sulaiman Al Habib

366

+15%

Tourism

SGS

16

--

Saudi Catering

59

--

Seera

(36)

--

Retail

Leejam

70

--

eXtra

91

+12%

Alhokair*

13

--

Shaker

11

+75%

Jarir

252

(6%)

Al-Othaim

71

+23%

BinDawood Holding

72

+16%

Cement

Arabian Cement

47

(30%)

Yamama Cement

25

(54%)

Eastern Cement

43

(28%)

Qassim Cement

27

(73%)

Southern Cement

100

(43%)

Saudi Cement

48

(60%)

Yanbu Cement

31

(58%)

 

Real Estate

 

Dar Al Arkan

60

+111%

Taiba

(6)

--

 

Other Sectors

 

SEC

1525

(10%)

SSP

2

--

Tadawul Group

155

(14%)

*Different fiscal year
**Profit before Mudaraba instrument

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