SNB Capital issues Q1 2023 estimates

09/04/2023 ِArgaam

SNB Capital issues Q1 2023 estimates for Saudi banks, firms under coverage

Tadawul trading screen


SNB Capital issued Q1 2023 earnings forecasts for many Tadawul-listed banks and firms under its coverage, led by Saudi Basic Industries Corp. (SABIC), Al Rajhi Bank and Saudi Electricity Co. (SEC).

 

SABIC is predicted to post net earnings of SAR 647 million for the first quarter of 2023. Al Rajhi Bank’s net profit is expected to grow 5% year-on-year (YoY) to SAR 4.3 billion.

 

Below is a list of SNB Capital’s Q1 2023 estimates for banks and firms under its coverage:

 

Q1 2023 Profit Forecasts

Company

Q1 2023

Change vs. Q1 2022

Petrochemicals

SABIC

647.0

(90%)

SIIG

(147.0)

--

Yansab

(241.0)

--

Advanced

20.1

(88%)

Tasnee

62.1

(80%)

Sipchem

468.0

(57%)

SABIC Agri-Nutrients

1119.0

(55%)

Saudi Kayan

(800.0)

--

Arabian Drilling

152.0

+56%

Luberef

300.0

(1%)

Banks

Al Rajhi Bank

4342.0

+5%

Alinma Bank

1132.0

+37%

Banque Saudi Fransi

1195.0

+37%

Bank Albilad

532.0

+9%

Riyad Bank

2035.0

+31%

Bank AlJazira

308.0

(18%)

Telecommunication Services

stc

3088.0

+2%

Mobily

448.0

+40%

Zain KSA

203.0

+152%

solutions

312.0

+10%

Healthcare

Saudi German Health

35.5

+73%

Mouwasat

144.0

(4%)

Al Hammadi

69.5

+12%

Sulaiman Al Habib

452.0

+16%

Tourism

SGS

(46.0)

--

Saudi Catering

114.0

+223%

Seera

33.3

--

Retail

Leejam

62.0

+35%

eXtra

99.4

+2%

Cenomi Retail

4.6

(92%)

Shaker

15.4

+4%

Jarir

249.0

(1%)

BinDawood Holding

42.9

(34%)

Al Othaim

103.0

+13%

Nahdi

254.0

+7%

Americana**

66.8

--

Cement

Arabian Cement

48.6

+16%

Yamama Cement

104.0

+251%

Eastern Cement

67.7

+133%

Qassim Cement

66.9

+167%

Southern Cement

63.4

(29%)

Saudi Cement

138.0

+126%

Yanbu Cement

54.4

+40%

Real Estate

Dar Al Arkan

(7.3)

--

Taiba

47.3

+132%

Other Sectors

SEC**

1568.0

--

Saudi Pipe

16.4

+13%

Tadawul Group

54.3

(61%)

Savola

137.0

(49%)

*Profit before Mudaraba Instrument 

**Americana profit in US dollar

 

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