GIB Capital's forecast on Q3 2024 earnings

10/10/2024 Argaam Special


GIB Capital released Q3 2024 earnings forecasts for Saudi-listed firms under its coverage.

 

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

 

GIB Capital’s Q3 2024 Earnings Estimates (SAR mln)

Company

Q3 2024 (Projected)

YoY Change

Petrochemicals

Advanced

38

(16%)

Alujain

29

+82%

Sipchem

160

(31%)

Saudi Kayan

(210)

--

Energy

Arabian Drilling

83

(41%)

ADES*

195

+133%

Basic Materials

Luberef

262

(23%)

AMAK 

45

+769%

Public Utilities

MARAFIQ 

85

(55%)

Miahona 

9

(52%)

Banks

SNB**

5132

+2%

Tadawul Group

155

+52%

Retail

Jarir

311

+5%

SASCO

15

+16%

Food

Tanmiah 

23

+34%

First Mills 

61

+13%

Modern Mills

51

+12%

Consumer Services

Americana**** 

56

(33%)

Alamar 

16

(20%)

Leejam

114

+24%

Transportation

Theeb

48

+40%

Budget Saudi***

90

+26%

Lumi

37

+6%

SAL

167

+44%

Other Sectors

Riyadh Cables*

178

+34%

Astra 

120

+16%

Elm

427

+28%

Al Akaria

62

--

Retal

36

+8%

Al Mawarid

25

+9%

SMASCO

34

(23%)

Al Arabia

51

(19%)

Jamjoom Pharma

102

+32%

Avalon Pharma

18

--

*Profit before minority interest.
**Total operating income.
***Q3 reflects the impact of the acquisition of Auto World.
**** Results are in US dollars.

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