Ubhar Capital issues Q2 2024 earnings estimates

04/07/2024 Argaam
*Different fiscal year


Ubhar Capital issued Q2 2024 earnings estimates for a number of Saudi banks and companies under coverage.

 

The brokerage expects Al Rajhi Bank to post a 7% rise YoY in its Q2 net profit to SAR 4.45 billion and Saudi Basic Industries Corp. (SABIC) to generate SAR 285 million in net profit during the three-month period.

 

Ubhar Capital's Q2 2024 Earnings Forecasts (SAR mln)

Company

Q2 2024

Change YoY

Banking

SNB

5,090.0

+1%

Al Rajhi Bank

4,448.8

+7%

SAB

1,906.0

+23%

Basic Materials​

SABIC

285.0

(76%)

Sipchem

177.5

(43%)

Tasnee

3.8

(88%)

Advanced

36.2

(40%)

Yansab

88.8

+224%

SIIG

35.9

(70%)

SABIC Agri-Nutrients

796.6

+22%

Maaden

843.3

+140%

Cement

Yamama Cement

102.8

+5%

Saudi Cement

107.3

+26%

City Cement

39.7

+63%

Qassim Cement

69.8

+83%

Telecommunications

Stc

3,499.7

+16%

Mobily

656.7

+32%

Insurance

Bupa Arabia

397.7

+7%

Tawuniya

305.6

+24%

Healthcare

Sulaiman Al Habib

519.3

+7%

Mouwasat

167.2

+11%

Dallah Healthcare

75.9

+43%

Al Hammadi

123.1

+50%

IT

solutions

434.7

+28%

MIS

23.3

(53%)

Food and Staples Retailing

Jarir

146.0

(6%)

SADAFCO

114.5

+5%

Almarai

641.2

+15%

BinDawood Holding

65.8

(5%)

Al Othaim

62.5

(55%)

Cenomi Centers

387.9

+15%

Leejam Sports

79.8

+10%

Other Sectors

Ataa Educational*

26.6

+1%

*Different fiscal year

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