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Riyad Cap issues Q2 2020 earnings forecast for 26 listed firms
Riyad Capital published its Q2 2020 earnings forecast for 26 Tadawul-listed firms under its coverage.
Saudi Basic Industries Corporation (SABIC) is expected to post an 80% profit drop year-on-year (YoY) to SAR 431 million in Q2 2020.
National Industrialization Co.’s (Tasnee) earnings are seen down 93% to SAR 21 million, while Saudi Arabian Fertilizers Co.’s (SAFCO) is estimated to make SAR 282 million in Q2, down 26% YoY.
In the banking sector, Al Rajhi Bank is seen to post a 20% profit decline in Q2 to SAR 2.056 billion while National Commercial Bank (NCB) is expected to post a 17% drop in earnings to SAR 2.221 million.
Saudi Cement Co. is expected to report a decrease in the Q2 net profit to SAR 70 million while Southern Province Cement’s earnings are forecasted to rise 19% to SAR 108 million in the same period.
In the telecom sector, Saudi Telecom Co.'s (STC) profit is expected to drop 4% YoY to SAR 2.745 billion.
Elsewhere, Jarir Marketing Co. is likely to post 7% profit hike YoY in the same quarter.
Saudi Electricity Co. (SEC) is expected to realize a net profit of SAR 663 million for the period.
|
Riyad Capital’s Q2 Profit Forecasts (SAR mln) |
||
|
Company |
Q2 2020 estimates |
Variation |
|
Banks |
||
|
BSF |
543 |
(32%) |
|
SABB* |
863 |
-- |
|
ANB |
530 |
(41%) |
|
Samba |
869 |
(7%) |
|
Al Rajhi |
2,056 |
(20%) |
|
Albilad |
223 |
(27%) |
|
Alinma |
359 |
(47%) |
|
NCB |
2,221 |
(17%) |
|
Petrochemicals |
||
|
Petrochem |
(99) |
-- |
|
SABIC |
431 |
(80%) |
|
SAFCO |
282 |
(26%) |
|
Tasnee |
21 |
(93%) |
|
Yansab |
157 |
(50%) |
|
Sipchem |
72 |
(66%) |
|
Advanced |
187 |
(3%) |
|
Saudi Kayan |
(1) |
-- |
|
Telecom |
||
|
STC |
2,745 |
(4%) |
|
Mobily |
94 |
+149% |
|
Zain Saudi |
83 |
(36%) |
|
Cement |
||
|
Yamama Cement |
44 |
(17%) |
|
Saudi Cement |
70 |
(24%) |
|
Qassim Cement |
59 |
(16%) |
|
Southern Cement |
108 |
+19% |
|
Yanbu Cement |
39 |
(4%) |
|
Food & Retail |
||
|
Jarir |
181 |
+7% |
|
Utilities |
||
|
SEC |
663 |
(16%) |
*Merged with Alawwal Bank.
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