SNB Capital issues Q4 2022 estimates for Saudi banks, firms under coverage

10/01/2023 Argaam
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SNB Capital issued Q4 2022 earnings forecasts for many Tadawul-listed banks and firms under its coverage, led by Saudi Aramco, Saudi Basic Industries Corp. (SABIC), Al Rajhi Bank and Saudi Electricity Co. (SEC).

 

Saudi Aramco is predicted to post net earnings of SAR 146.6 billion for the fourth quarter of 2022. Al Rajhi Bank’s net profit is expected to leap 10% year-on-year (YoY) to SAR 4.4 billion.

 

Below is a list of SNB Capital’s Q4 2022 estimates for banks and firms under its coverage:

 

Q4 2022 Profit Forecasts

Company

Q4 2022

Change vs. Q4 2021

Petrochemicals

Saudi Aramco****

146.6

+21%

SABIC

2389.0

(52%)

SIIG

69.0

(43%)

Yansab

(6.7)

--

Advanced

25.2

(84%)

Tasnee

66.2

(80%)

Sipchem

677.0

(49%)

SABIC Agri-Nutrients

1894.0

(31%)

Saudi Kayan

(302)

--

Arabian Drilling

143.0

+21%

Banks

Al Rajhi Bank

4428.0

+10%

Alinma Bank

1097.0

+77%

Banque Saudi Fransi

1069.0

+8%

Bank Albilad

549.0

+28%

Bank AlJazira

201.0

(12%)

Telecommunication Services

stc

3073.0

+18%

Mobily

401.0

+25%

Zain KSA

94.6

+32%

solutions

253.0

+121%

Food Production

Savola

198.0

--

Almarai

481.0

+68%

Healthcare

Saudi German Health

16.6

--

Mouwasat

139.0

(5%)

Al Hammadi

66.1

+519%

Sulaiman Al Habib

441.1

+15%

Tourism

SGS

(29)

--

Saudi Catering

80.3

+74%

Seera

20.3

--

Retail

Leejam

70.3

(18%)

Cenomi Centers*

23.7

+40%

Shaker

7.5

--

Jarir

274.0

+4%

Al Othaim

159.0

+3%

BinDawood Holding

23.4

+77%

Nahdi

180.0

+26%

Cement

Arabian Cement

50.0

+115%

Yamama Cement

70.8

--

Eastern Cement

41.4

(0.2%)

Qassim Cement

31.0

(8%)

Southern Cement

91.6

+4%

Saudi Cement

113.0

+68%

Yanbu Cement

61.3

--

Riyadh Cement***

97.1

+90%

Real Estate

Dar Al Arkan

89.0

+58%

Taiba

44.0

--

Other Sectors

SEC**

345.0

--

SSP

13.8

--

Tadawul Group

65.1

(41%)

*Different fiscal year

**Profit before profit attributable to Mudaraba Instrument

***listed on Nomu-Parallel Market

**** Aramco's revenue does not include other income and net income before minority interest

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