Al Rajhi Capital issues Q1 profit forecasts for TASI-listed firms

06/04/2024 Argaam


Al Rajhi Capital issued Q1 2024 earnings estimates for 60 Saudi-listed companies under its coverage.

 

Saudi Basic Industries Corp. (SABIC) is expected to incur a loss of SAR 743 million in the first quarter of the year, while stc’s profit is likely to grow by 4% YoY to SAR 3.22 billion.

 

Al Rajhi Capital’s Q1 2024 Forecasts (SAR mln)

Company

Q1 2024

 Estimates

(SAR mln)

Change

(YoY)

Petrochemicals

SABIC

(743)

--

Sipchem

137

(71%)

SABIC Agri-Nutrients

117

(88%)

Yansab

(9)

--

Advanced

(23)

--

Cement

Arabian Cement

38

(22%)

Yamama Cement

77

(31%)

Saudi Cement

60

(52%)

Qassim Cement

53

(3%)

Yanbu Cement

32

(37%)

Southern Cement

57

+16%

Telecommunications

stc

3226

+4%

Mobily

528

+14%

Zain KSA

76

(86%)

Food & Agriculture

Almarai

559

(12%)

SADAFCO

110

+22%

Savola

220

(44%)

NADEC

120

+218%

Tanmiah

31

+48%

Almunajem

107

+31%

First Mills

61

(17%)

Modern Mills

48

(26%)

Retail

Jarir

258

+4%

Cenomi Retail

(165)

--

Al Othaim

98

(18%)

eXtra

91

+8%

BinDawood Holding

47

(9%)

Healthcare

Dallah

109

+15%

Mouwasat

214

+28%

Care

59

+5%

Al Hammadi

78

(4%)

Sulaiman Al Habib

530

+8%

Saudi German Health

55

+10%

Pharmaceuticals

SPIMACO

73

+33%

Jamjoom Pharma

99

+17%

Astra Industrial

147

+20%

Avalon Pharma

1

--

Insurance

Tawuniya

139

+87%

GIG

22

(61%)

Bupa Arabia

248

+31%

Malath

22

(50%)

Walaa

36

+48%

Saudi Re

15

+34%

Transportation and Logistics Services

Lumi

38

(24%)

Theeb

33

(22%)

Budget Saudi

74

+7%

SISCO

15

(22%)

SAL

132

+26%

Other Sectors

Bawan

44

+27%

Saudi Ceramics

(37)

--

Leejam

71

+13%

Equipment House

8

+17%

Aldrees

80

+13%

Arabian Drilling

158

+12%

Ades Holding

207

+136%

Luberef

241

(46%)

MIS

22

(53%)

solutions

337

+11%

2P

33

+26%

Elm

379

+18%

Alkhorayef Water

47

+44%

ACWA Power

572

+112%

Al Arabia

91

+0.2%

Seera

59

+6%

Tadawul Group

146

+61%

Riyadh Cables

143

+14%

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