Aljazira Cap issues Q2 2020 earnings forecast for Saudi-listed firms

Aljazira Capital published its Q2 2020 earnings estimates for 36 Tadawul-listed banks and firms under its coverage.

Saudi Basic Industries Corporation (SABIC) is expected to incur net losses of SAR 187.4 million in Q2 2020. Al Rajhi Bank’s earnings are projected to drop 21% year-on-year (YoY) to SAR 2.03 billion.

STC’s second quarter net profit is likely to grow by 3% YoY to SAR 2.92 billion.

In the cement sector, Arabian Cement Co. and Saudi Cement Co. are forecast to report a fall of 59% and 28% YoY in Q2 2020 net profit to SAR 15.5 million and SAR 66.7 million, respectively.

Below is a list of Aljazira Capital’s estimates, as compiled by Argaam.

Aljazira Capital Profit Estimates - (SAR mln)
Company	Q2 2020 estimates	YoY change
Banking Sector
Al Rajhi Bank	2033.4	(21%)
Alinma Bank	373.1	(45%)
Bank Albilad	279.9	(8%)
Telecommunication Sector
STC	2920.8	+3%
Mobily	105.1	+178%
Zain	109.4	(16%)
Materials Sector
SABIC	(187.4)	--
Tasnee	17.5	(94%)
Yansab	124.5	(61%)
SAFCO	258.9	(32%)
Sipchem	(41.3)	--
Advanced Petrochemical	144.9	(25%)
Kayan	(234.8)	--
Petrochem	(177.1)	--
Maaden	(382.2)	--
Yamama Cement	56.6	+7%
Saudi Cement	66.7	(28%)
Southern Province Cement	95.5	+5%
Qassim Cement	63.6	(10%)
Arabian Cement	15.5	(59%)
Yanbu Cement	40.9	+2%
City Cement	33.6	+4%
Eastern Province Cement	36.2	+14%
Health Care Sector
Al Hammadi	16.4	(18%)
Mouwasat	77.2	(15%)
Care	11.3	(18%)
Dallah Healthcare	10.1	(35%)
Saudi German Hospital	10.3	(16%)
Retailing Sector
Jarir	183.0	+8%
Fawaz Al Hokair*	129.4	(42%)
Saco	9.2	(57%)
Consumer Services Sector
Seera Holding	(119.7)	--
Other Sectors
Budget Saudi	20.4	(53%)
Saudi Catering	(169.4)	--
SGS	(158.9)	--
Al Othaim	92.8	+58%

*The fiscal year ends March 2020.

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