Aljazira Cap issues Q1 2021 earnings forecast for Saudi banks, firms

06/04/2021 Argaam Special

Tadawul trading screen


Aljazira Capital published its Q1 2021 earnings forecasts for a number of Tadawul-listed banks and firms under its coverage, which were led by Al Rajhi Bank, Saudi Basic Industries Corp. (SABIC), and Saudi Telecom Co. (stc). 

  

SABIC is expected to post net profit of SAR 2.8 billion in Q1 2021. Al Rajhi Bank’s net profit is forecast to rise 35% year-on-year (YoY) to SAR 3.2 billion.

 

Below is a list of Aljazira Capital’s estimates for Q1 2021 earnings of a number of banks and firms under its coverage:

 

Aljazira Capital’s Q1 Forecasts (SAR mln)

Company

Q1 2021 Estimates (SAR mln)

YoY Variation

Banking Sector

Al Rajhi Bank

3205.9

+35%

Alinma Bank

512.7

+39%

Bank Albilad

414.7

+54%

Telecommunication Sector

stc

2642.5

(9 %)

Mobily

220.0

+69%

Zain KSA

59.2

(44 %)

Discretionary

Jarir

 

+0.3%

Fawaz Alhokair*

 

--

BinDawood

 

(32%)

SACO

 

+40%

Materials Sector

SABIC

2821.0

--

Tasnee

88.8

--

Yansab

277.7

+166%

SABIC Agri-Nutrients

619.2

+104%

Sipchem

293.7

--

Saudi Kayan

161.2

--

Petrochem

227.7

+353%

Maaden

682.4

--

Yamama Cement

56.8

(54%)

Saudi Cement

109.5

(26%)

Southern Cement

168.1

(8%)

Qassim Cement

99.6

(10%)

Arabian Cement

48.8

+8%

Yanbu Cement

72.4

(21%)

City Cement

57.1

(19%)

Eastern Cement

62.9

(26%)

Healthcare Sector

Al Hammadi

31.8

+27%

Mouwasat

137.0

+13%

Care

25.1

+24%

Dallah

30.9

(11%)

Sulaiman Al-Habib

299.0

+21%

SGH

25.8

+11%

          Consumer Services Sector

Seera 

(138.5)

--

Food

Almarai

341.3

(11%)

Other Sectors

Budget Saudi

45.0

(1%)

Saudi Catering

(65.1)

--

SGS

(26.8)

--

Al-Othaim

104.6

+5%

* FY ends in March 2021     

 

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