AlJazira Capital issues Q3 2023 earnings forecast

08/10/2023 Argaam Special
Tadawul trading screen

Tadawul trading screen


AlJazira Capital published its Q3 2023 profit estimates for Tadawul-listed banks and firms under coverage, with Al Rajhi Bank leading the list.

 

Al Rajhi Bank’s earnings are forecast to retreat 5% year-on-year (YoY) to SAR 4.16 billion in Q3 2023. 

 

Giant petrochemical producer, SABIC is likely to report a profit drop to SAR 708 million.  

  

The below table illustrates AlJazira Capital’s Q3 2023 estimates for a number of banks and firms under coverage:

 

Q3 2023 Forecasts (SAR mln)

Company

Q3 2023 Estimates

YoY Change

Banking Sector

Al Rajhi Bank

4158

(5%)

Alinma Bank

1280

+29%

Bank Albilad

597

+10%

Telecommunication Sector

stc

4089

+16%

Mobily

492

+32%

Zain KSA

113

+33%

Materials Sector

SABIC

708

(61%)

Tasnee

107.2

+526%

Yansab

 (70.9)

--

SABIC Agri-Nutrients

983.1

(58%)

Sipchem

357.9

(54%)

Advanced

58.6

+117%

Saudi Kayan

(331)

--

Alujain

21.2

+13%

Maaden

331.2

(84%)

Yamama Cement

67.1

(34%)

Saudi Cement

57.2

(29%)

Southern Cement

35.8

(60%)

Qassim Cement

40.7

+74%

Arabian Cement

44.7

(24%)

Yanbu Cement

37.4

(46%)

City Cement

19.6

(22%)

Eastern Cement

47.0

+27%

Healthcare Sector

Al Hammadi

62.1

+9%

Mouwasat

148.1

+21%

Care

48.5

+14%

Dallah Healthcare

65.5

+49%

Sulaiman Al-Habib

494.6

+18%

Saudi German Health

43.3

+290%

Retailing

Jarir

257.0

(6%)

Cenomi Retail

20.3

(8%)

SACO

(14.6)

--

eXtra

90.2

(4%)

Consumer Services Sector

Seera

67.5

+26%

Leejam

74.1

+9%

Other Sectors

Budget Saudi

72.2

+13%

Theeb

45.0

(16%)

Lumi

55.1

+81%

SGS

53.7

--

Saudi Catering

77.5

+9%

Al Mawarid

23.7

+25%

Al Othaim

59.2

(92%)

BinDawood Holding

50.8

--

2P

35.6

+10%

Alkhorayef Water

40.3

+43%

Al Arabia

45.0

+37%

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