AlJazira Capital’s forecasts for Q2 2024 earnings

03/07/2024 Argaam


AlJazira Capital released its Q2 2024 profit estimates for Tadawul-listed banks and firms under coverage.

 

Al Rajhi Bank’s earnings are projected to rise 6% year-on-year (YoY) to nearly SAR 4.4 billion in Q2 2024.

 

The below table illustrates AlJazira Capital’s Q2 2024 estimates for a number of banks and firms under coverage:

 

Q2 2024 Earnings Forecasts (SAR mln)

Company

Q2 2024 (Projected)

Change YoY

Banking

Al Rajhi Bank

4414

+6%

Alinma Bank

1336

+9%

Bank Albilad

662

+13%

Telecommunications

stc

3248

+8%

Mobily

653

+31%

Zain

72

(42%)

Materials

SABIC

670

(43%)

Tasnee

81.8

+160%

Yansab

115.0

+319%

SABIC AN

660.4

(1%)

Sipchem*

211.6

(32%)

Advanced

57.6

(4%)

Kayan

(503.6)

--

Alujain**

17.9

+7%

Maaden

851.3

+143%

Yamama Cement

108.3

+10%

Saudi Cement

79.5

(7%)

Southern Cement

46.8

+146%

Qassim Cement

74.2

+95%

Arabian Cement

41.8

+50%

Yanbu Cement

41.4

+17%

City Cement

35.3

+45%

Eastern Cement

59.8

+16%

Riyadh Cement

61

+14%

Healthcare

Al Hammadi****

55.7

(32%)

Mouwasat

152.5

+1%

Care

62.8

+31%

Dallah

87.9

+66%

Sulaiman Al Habib

513.1

+5%

Saudi German Health

36.4

(10%)

Fakeeh Care

63.9

+19%

Retailing

Jarir

140.1

(10%)

SACO

(4.7)

--

eXtra

84.3

+37%

Americana

158.9

(51%)

Consumer Services

Seera

40.5

(41%)

Leejam

90.7

+25%

Other Sectors

Almarai

616.3

+11%

Modern Mills

56.6

+38%

Budget Saudi

71.8

+2%

Theeb

41.4

+38%

Lumi

43.1

(13%)

SAL

191.6

+76%

SGS

76.2

+53%

CATRION

71.4

+12%

Al Mawarid

25.9

+15%

Al Othaim

46.6

(67%)

BinDawood Holding

66.8

(4%)

Elm

389.8

+5%

solutions

337.2

(1%)

2P

33.6

+9%

Alkhorayef Water

55.9

+57%

Arabian Cement

89.6

+5%

Arabian Drilling

126

(10%)

ADES

190

+83%

*Includes insurance claims for Hail plant worth SAR 53 million.
**Excluding non-operating profit from sale of NATPET.
***Excluding a possible reversal of provisions. 

 

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