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NCB Capital issues Q3 2020 earnings forecasts for Saudi companies, banks
NCB Capital issued its Q3 2020 earnings forecasts for a number of Saudi-listed companies and banks under its coverage, including Saudi Basic Industries Corporation (SABIC), Al Rajhi Bank and Saudi Telecom Co (STC).
SABIC is expected to post a profit of around SAR 818 million in Q3 2020, while Al Rajhi Bank is forecast to report a 16% earnings drop year-on-year (YoY) to SAR 2.39 billion in the same period.
Saudi Kayan Petrochemical Co. is expected to sustain SAR 178 million losses in the third quarter of this year.
Saudi Arabia Fertilizer Co. (SAFCO) is estimated to see its profit down by 18% YoY to SAR 339 million in Q3.
Among other banks, Banque Saudi Fransi’s third-quarter net profit is projected to decline by 44% YoY to SAR 497 million.
Bank Aljazira is forecast to report a 32% profit drop YoY to SAR 175 million in Q3 2020.
Among healthcare services providers, Mouwasat Medical Services Co. is estimated to see earnings up by 29% YoY to SAR 120 million in the third quarter of 2020.
As for real estate developers, Dar Al-Arkan Real Estate Development Co. is expected to report SAR 26 million losses in Q3 2020.
Elsewhere, Saudi Cement is estimated to post SAR 97 million in profit, an increase of 17% YoY in Q3.
Meanwhile, STC’s Q3 2020 net profit is seen falling by 2% YoY to SAR 2.7 billion.
Savola’s net earnings are expected to hike 19% YoY to SAR 265 million in the third quarter.
United Electronics Co. (eXtra) is forecast to post a 5% profit decline to SAR 26 million in Q3 2020.
Jarir Marketing Co. is also projected to report net profit of SAR 211 million, down by 31% YoY in Q3.
|
Q3 2020 Net Profit Forecast (SAR mln) |
||
|
Company |
Q3 2020 (Estimates) |
YoY Change |
|
Petrochemicals |
||
|
SABIC |
818.0 |
+22% |
|
SIIG |
101.0 |
(37%) |
|
Yansab |
144.0 |
(32%) |
|
Tasnee |
(49.0) |
-- |
|
Sipchem |
(15.0) |
-- |
|
SAFCO |
339.0 |
(18%) |
|
Saudi Kayan |
(178.0) |
-- |
|
Petrochem |
108.0 |
(37%) |
|
Telecom |
||
|
STC |
2,700.0 |
(2%) |
|
Mobily |
140.0 |
+174% |
|
Zain Saudi |
74.0 |
(39%) |
|
Food and Agriculture |
||
|
Savola |
265.0 |
+19% |
|
Healthcare |
||
|
Saudi German |
36.0 |
+8% |
|
Mouwasat |
120.0 |
+29% |
|
Al Hammadi |
27.0 |
+28% |
|
Sulaiman Al Habib Group |
242.0 |
+22% |
|
Tourism |
||
|
SGS |
(73.0) |
-- |
|
Catering |
(68.0) |
-- |
|
Seera |
(102.0) |
-- |
|
Retail |
||
|
Leejam Sports |
37.0 |
(24%) |
|
eXtra |
26.0 |
(5%) |
|
Alhokair* |
(5.9) |
-- |
|
Shaker |
(4.8) |
-- |
|
Jarir |
211.0 |
(31%) |
|
Al Othaim |
85.0 |
+13% |
|
Cement |
||
|
Arabian Cement |
44.0 |
(27%) |
|
Yamama Cement |
72.0 |
+32% |
|
Eastern Cement |
33.0 |
(9%) |
|
Qassim Cement |
106.0 |
+18% |
|
Southern Cement |
140.0 |
+55% |
|
Saudi Cement |
97.0 |
+17% |
|
Yanbu Cement |
78.0 |
+26% |
|
Real Estate |
||
|
Dar Al-Arkan |
26.0 |
(81%) |
|
Taiba |
21.0 |
(69%) |
|
Banking |
||
|
Al Rajhi |
2,385.0 |
(16%) |
|
Alinma |
613.0 |
(14%) |
|
BSF |
497.0 |
(44%) |
|
Albilad |
316.0 |
(3%) |
|
Aljazira |
175.0 |
(32%) |
|
Others |
||
|
Saudi Electricity |
2,709.0 |
+1% |
|
Saudi Steel Pipe |
(6.6) |
-- |
*Q2 2020 as the fiscal year ends in March.
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