Osool & Bakheet Investment Co. released Q2 2020 earnings forecast for 32 Saudi-listed firms under its coverage.

 

Saudi Basic Industries Corporation (SABIC) is expected to incur net losses of SAR 500 million for the second quarter.

 

Advanced Petrochemical Co. is forecast to post a 40% YoY fall in Q2 2020 net profit to SAR 116 million.  

 

Al Rajhi Bank’s net earnings are likely to drop 23% year-on-year (YoY) to SAR 2 billion.

 

National Commercial Bank (NCB) is expected to post a 15% decline in Q2 net earnings to SAR 2.3 billion.

 

Yamama Cement Co. is expected to report a 42% YoY increase in the second quarter net profit to SAR 75.7 million, while Saudi Cement’s earnings are forecast to decline 8% YoY to SAR 85.1 million in Q2.

  

Elsewhere, Al Hammadi Company for Development and Investment is likely to report a 39% profit plunge YoY to SAR 12.3 million in the same quarter. 

 

Osool & Bakheet Profit Estimates (SAR mln)

Company

Q2 2020 estimates

Y-o-Y Variation

Banks

Riyad Bank

1100.0

(27%)

Aljazira

170.0

(33%)

ANB

630.0

(30%)

Al Rajhi

2000.0

(23%)

SABB

850.0

+323%

Samba

900.0

(4%)

NCB

2300.0

(15%)

BSF

585.0

(27%)

Materials

SABIC

(500.0)

(124%)

SAFCO

300.0

(21%)

Advanced

116.0

(40%)

Hail Cement

19.4

--

City Cement

42.0

+30%

Umm Al Qura Cement

16.7

+36%

Arabian Cement

(5.5)

(115%)

Yamama Cement

75.7

+42%

Saudi Cement

85.1

(8%)

Qassim Cement

86.5

+23%

Southern Cement

111.0

+22%

Yanbu Cement

34.2

(15%)

Eastern Cement

40.5

+27%

MEPCO

5.5

+237%

Healthcare

Al Hammadi

12.3

(39%)

Other Sectors

SACO

2.9

(87%)

eXtra

67.7

(7%)

Jarir

201.5

+19%

SGS

(228.4)

(284%)

Catering

(190.2)

(262%)

Leejam

(106.0)

(314%)

Herfy

20.0

(51%)

Halwani

17.5

--

NADEC

47.5

--

 

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