AlJazira Capital issues Q2 2023 earnings forecast

09/07/2023 Argaam Special


AlJazira Capital published its Q2 2023 profit estimates for Tadawul-listed banks and firms under coverage.

Al Rajhi Bank’s earnings are forecast to retreat 4% year-on-year (YoY) to SAR 4.09 billion in Q2 2023.

Similarly, Saudi Basic Industries Corp.’s (SABIC) earnings are projected to tumble 82% YoY to SAR 1.39 million in Q2 2023.

Meanwhile, telecom operator stc’s profit is estimated to rise to SAR 3.56 billion in the three-month period.

 

The below table illustrates AlJazira Capital’s Q2 2023 estimates for a number of banks and firms under coverage:

 

Q2 2023 Forecasts (SAR mln)

Company

Q2 2023 Estimates

YoY Change

Banking Sector

Al Rajhi Bank

4091.0

(4%)

Alinma Bank

1084.0

+17%

Bank Albilad

587.0

+15%

Telecommunication Sector

stc

3559.0

+25%

Mobily

496.0

+38%

Zain KSA

89.0

(33%)

Materials Sector

SABIC

1387.0

(82%)

Tasnee

161.3

(46%)

Yansab

70.3

(76%)

SABIC Agri-Nutrients

796.6

(74%)

Sipchem

308.6

(76%)

Advanced

77.9

(29%)

Saudi Kayan

(385.6)

--

Maaden

521.0

(87%)

Yamama Cement

57.3

(37%)

Saudi Cement

70.9

(31%)

Southern Cement

41.3

(32%)

Qassim Cement

34.0

+17%

Arabian Cement

37.4

(17%)

Yanbu Cement

64.5

+34%

City Cement

20.9

(16%)

Eastern Cement

54.7

+27%

Healthcare Sector

Al Hammadi

78.5

+21%

Mouwasat

158.3

+12%

Care

52.3

+24%

Dallah Healthcare

85.2

+23%

Sulaiman Al-Habib

461.2

+16%

Saudi German Health

35.7

+242%

Retailing

Jarir

172.1

(3%)

Cenomi Retail*

39.6

(31%)

SACO

(15.1)

--

eXtra

63.5

(50%)

Consumer Services Sector

Seera

80.0

--

Leejam

50.2

+39%

Food & Beverages

Almarai

548.7

+5%

Other Sectors

Budget Saudi

66.5

+6%

Theeb

46.3

+8%

SGS

52.8

--

Saudi Catering

74.3

+71%

Al Mawarid

23.0

+22%

Al Othaim

62.6

+34%

BinDawood Holding

48.6

+15%

2P

34.4

+12%

Alkhorayef Water

53.9

+105%

Al Arabia

74.5

+19%

 

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