Al Rajhi Capital issues Q3 profit forecasts for Saudi-listed companies

05/10/2023 Argaam Special
*Different fiscal year


Al Rajhi Capital issued Q3 2023 earnings estimates for several Saudi-listed companies under its coverage.

 

The brokerage expects Saudi Basic Industries Corp. (SABIC) Q3 profit to drop 72% year-on-year (YoY) to SAR 522 million.

 

Telecom major stc’s profit is likely to rise 14% YoY to SAR 4.03 billion.

 

Al Rajhi Capital’s Q3 2023 Forecasts (SAR mln)

Company

Q3 2023

 Estimates

(SAR mln)

Change

(YoY)

Petrochemicals

SABIC

522

(72%)

Sipchem

433

(44%)

SABIC Agri-Nutrients

705

(70%)

Yansab

(97)

--

Advanced

52

+93%

Cement

Arabian Cement

25

(58%)

Yamama Cement

48

(53%)

Saudi Cement

46

(43%)

Qassim Cement

36

+54%

Yanbu Cement

48

(31%)

Southern Cement

40

(55%)

Najran Cement

14

(50%)

Telecommunications

stc

4030

+14%

Mobily

499

+34%

Zain KSA

96

+13%

Food & Agriculture

Almarai

621

+34%

SADAFCO*

124

+45%

Savola

199

+22%

NADEC

69

+149%

Tanmiah

16

(50%)

Retail

Jarir

282

+3%

Cenomi Retail

14

(37%)

Al Othaim

50

(93%)

eXtra

98

+4%

BinDawood Holding

60

--

Healthcare

Dallah

52

+19%

Mouwasat

154

+26%

Care

50

+17%

Al Hammadi

84

+47%

Sulaiman Al Habib

470

+12%

Saudi German Health

36

+224%

Pharmaceuticals

SPIMACO

(8)

--

Jamjoom Pharma

71

+56%

Astra Industrial

109

+54%

Insurance

Tawuniya**

210

+82%

GIG**

34

+29%

Bupa Arabia**

327

+2%

Other Sectors

Bawan

30

(21%)

Saudi Ceramics

3

(93%)

Leejam Sports

65

(4%)

Equipment House

6

(32%)

Aldrees

72

+17%

Arabian Drilling

157

(26%)

Luberef

251

(47%)

MIS

53

+111%

solutions

345

+15%

2P

35

+8%

Alkhorayef Water

38

+35%

SISCO

21

+46%

Al Arabia

87

+32%

Riyadh Cables

118

+27%

*Different fiscal year

**Insurance figures have not been adjusted as per IFRS 17

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