GIB Capital previews Q2 2024 earnings

07/07/2024 Argaam
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GIB Capital released Q2 2024 earnings forecasts for Saudi-listed firms under coverage.

 

The following table shows GIB Capital’s second-quarter estimates for Saudi-listed companies under its coverage:

 

GIB Capital’s Q2 2024 Earnings Estimates (SAR mln)

Company

Q2 2024 (Projected)

YoY Change 

Petrochemicals

Advanced

38

(37%)

Alujain*

13

(23%)

Sipchem**

199

(36%)

Saudi Kayan

(517)

--

Energy

Arabian Drilling

120

(14%)

ADES Holding

192

+85%

Basic Materials

Luberef

281

(38%)

AMAK 

26

+145%

Public Utilities

MARAFIQ 

99

(38%)

Banks

SNB***

5163

+3%

Retail

Jarir

150

(4%)

SASCO

11

(15%)

Food

Tanmiah 

23

+102%

First Mills 

59

+69%

Modern Mills

46

+12%

Transportation

Theeb

42

+40%

Budget Saudi

71

+1%

Lumi***

70

+41%

SAL

200

+84%

Other Sectors

Tadawul Group

156

+48%

Americana******

34

(61%)

Alamar 

11

(37%)

Leejam

87

+20%

Riyadh Cables

156

+23%

Astra 

137

+19%

Elm

395

+6%

Al Akaria

10

--

Retal

58

(18%)

Al Mawarid

27

+20%

Al Arabia

85

--

Jamjoom Pharma

116

+34%

Avalon Pharma

26

+44%

Numu-Parallel Market (H1 2024)

GAS

40

+13%

Saudi Azm

16

+19%

*Excluding one-off gains from a 35% stake sale in NATPET

**Including an insurance settlement worth SAR 53 million

***Gross operating income

****Including SAR 27 milion in discount received

*****Results in US dollar

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