SNB Capital issued Q2 2023 earnings forecasts for many Tadawul-listed banks and firms under its coverage, led by Saudi Basic Industries Corp. (SABIC), Al Rajhi Bank and Saudi Electricity Co. (SEC).
SABIC is expected to post net earnings of around SAR 1.2 billion for the second quarter of 2023. Al Rajhi Bank’s net profit is forecast to rise 2% year-on-year (YoY) to about SAR 4.3 billion.
Below is a list of SNB Capital’s Q2 2023 estimates for banks and firms under its coverage:
|
Q2 2023 Profit Forecasts |
||
|
Company |
Q2 2023 |
Change vs. Q1 2022 |
|
Petrochemicals |
||
|
SABIC |
1200.0 |
(85%) |
|
SIIG |
143 |
(50%) |
|
Yansab |
87.9 |
(70%) |
|
Advanced |
76.4 |
(30%) |
|
Tasnee |
91.6 |
(69%) |
|
Sipchem |
273.0 |
(78%) |
|
SABIC Agri-Nutrients |
589.0 |
(81%) |
|
Saudi Kayan |
(464.0) |
-- |
|
Arabian Drilling |
144.0 |
+31% |
|
Luberef |
410.0 |
(6%) |
|
Banks |
||
|
Al Rajhi Bank |
4331.0 |
+2% |
|
Alinma Bank |
1006.0 |
+9% |
|
Banque Saudi Fransi |
1127.0 |
+35% |
|
Bank Albilad |
589.0 |
+15% |
|
Riyad Bank |
2115.0 |
+31% |
|
Bank AlJazira |
226.0 |
(12%) |
|
Telecommunication Services |
||
|
stc |
3165.0 |
+12% |
|
Mobily |
482.0 |
+34% |
|
Zain KSA |
90.1 |
(33%) |
|
solutions |
335.0 |
+23% |
|
Healthcare |
||
|
Saudi German Health |
46.5 |
+347% |
|
Mouwasat |
152.0 |
+7% |
|
Al Hammadi |
82.6 |
+27% |
|
Sulaiman Al Habib |
497.0 |
+25% |
|
Dallah |
91.1 |
(31%) |
|
Tourism |
||
|
SGS |
58.7 |
-- |
|
Saudi Catering |
90.5 |
+108% |
|
Seera |
69.8 |
-- |
|
Retail |
||
|
Leejam |
53.3 |
+49% |
|
eXtra |
65.4 |
(49%) |
|
Cenomi Retail |
9.9 |
(83%) |
|
Shaker |
23.7 |
+102% |
|
Jarir |
180.0 |
+1% |
|
BinDawood Holding |
61.5 |
+45% |
|
Al Othaim |
63.4 |
+36% |
|
Nahdi |
284.0 |
+6% |
|
Americana** |
61.5 |
+25% |
|
Cement |
||
|
Arabian Cement |
37.3 |
(17%) |
|
Yamama Cement |
90.2 |
(1%) |
|
Eastern Cement |
44.7 |
+4% |
|
Qassim Cement |
31.1 |
7%+ |
|
Southern Cement |
32.7 |
( 46%) |
|
Saudi Cement |
83.1 |
( 19%) |
|
Yanbu Cement |
37.6 |
( 22%) |
|
Riyadh Cement |
110.0 |
29%+ |
|
Real Estate |
||
|
Dar Al Arkan |
118.0 |
(30%) |
|
Taiba |
76.6 |
+122% |
|
Other Sectors |
||
|
SEC** |
4630.0 |
(16%) |
|
Saudi Pipe |
7.4 |
(37%) |
|
Tadawul Group |
231.0 |
+8% |
|
Savola |
629.0 |
+21% |
*Profit before Mudaraba Instrument
**Americana profit in US dollar
***Riyadh Cement estimates for H2 2023
****Profit before Mudaraba instruments
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