AlJazira Capital issues Q1 2022 profit forecasts for Saudi banks, firms

06/04/2022 Argaam Special
Tadawul trading screen

Tadawul trading screen


AlJazira Capital published its Q1 2022 earnings forecasts for the Tadawul-listed banks and firms under its coverage, including Al Rajhi Bank and Saudi Basic Industries Corp. (SABIC).

 

SABIC is expected to post net profit of SAR 6.95 billion in Q1 2022, while Al Rajhi Bank’s earnings are projected to rise 25% year-on-year (YoY) to SAR 4.2 billion.

 

Aljazira Capital’s Q1 2022 Forecasts (SAR mln)

Company

Q1 2022 Estimates (SAR mln)

YoY change

Banking Sector

Al Rajhi Bank

4162.2

+25%

Alinma Bank

722.4

+13%

Bank Albilad

447.5

+14%

Telecommunications

stc

2957.1

+0.2%

Mobily

303.0

+34%

Zain KSA

65.5

+60%

Materials Sector

SABIC

6953.8

+43%

Tasnee

375.2

+15%

Yansab

355.9

(15%)

SABIC Agri-Nutrients

2456.2

+481%

Sipchem

1027.2

+150%

Advanced

165.1

(4%)

Saudi Kayan

380.8

(23%)

Maaden

2721.2

+258%

Yamama Cement

30.6

(44%)

Saudi Cement

49.5

(59%)

Southern Cement

117.3

(33%)

Qassim Cement

28.2

(72%)

Arabian Cement

36.4

(46%)

Yanbu Cement

28.4

(61%)

City Cement

24.8

(62%)

Eastern Cement

46.0

(23%)

Healthcare

Al Hammadi

34.4

(3%)

Mouwasat

149.0

+1%

Care

36.2

+1%

Dallah

79.9

+52%

Sulaiman Al Habib

371.1

+16%

Saudi German Health

11.8

(2%)

Retailing

Jarir

222.2

(17%)

Fawaz Alhokair*

(78.7)

--

SACO

(8.0)

--

Consumer Services Sector

Seera Holding

(54.3)

--

Leejam Sports

79.5

--

Food

Almarai

288.0

(25%)

Other Sectors

Budget Saudi

53.6

(3%)

Theeb Rent a Car

41.6

+60%

SGS

5.2

--

Saudi Catering

61.0

--

Al Othaim

62.7

+9%

BinDawood Holding

39.8

(36%)

*Different fiscal year

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