Al Rajhi Capital issued Q2 2020 earnings forecasts for Saudi-listed companies.
Saudi Arabian Oil Co. (Saudi Aramco) is forecast to make SAR 35.2 billion profit in Q2 2020, whereas Saudi Basic Industries Corporation (SABIC) is expected to report SAR 110 million in losses during the same period.
In petrochemicals, Sahara International Petrochemical Company (Sipchem) is expected to turn to losses of SAR 26 million in Q2 2020, while Saudi Arabian Fertilizer Co. (SAFCO) is seen to report an 35% profit decrease YoY to SAR 246 million in the three-month period.
As for cement, Arabian Cement Co. is seen making a net profit of SAR 36 million, down by 4% YoY in Q2, while Saudi Cement Co. is forecast to report a 38% profit slump in the three-month period.
In the telecom sector, Etihad Etisalat Co.’s (Mobily) profit is projected to surge 369% YoY to SAR 177 million.
As for the food industries companies, Herfy Food Services Co.’s Q2 2020 net profit is estimated to drop 73% YoY.
In retail, Jarir Marketing Co.'s earnings are seen up by 8% YoY to SAR 183 million in Q2.
Elsewhere, all healthcare sector companies are seen to report profit drop in Q2 2020.
|
Al Rajhi Capital’s Q2 Forecasts (SAR mln) |
||
|
Company |
Q2 2019 Estimates (SAR mln) |
YoY Variation |
|
Petrochemicals Sector |
||
|
SABIC |
(110) |
-- |
|
Sipchem |
(26) |
-- |
|
SAFCO |
246 |
(35%) |
|
Tasnee |
8 |
-- |
|
Yansab |
134 |
(58%) |
|
Advanced |
151 |
(21%) |
|
Cement Sector |
||
|
Arabian Cement |
36 |
(4%) |
|
Yamama Cement |
38 |
(29%) |
|
Saudi Cement |
57 |
(38%) |
|
Qassim Cement |
61 |
(13%) |
|
Yanbu Cement |
39 |
(4%) |
|
Southern Cement |
75 |
(17%) |
|
Telecommunications |
||
|
STC |
2,791 |
(2%) |
|
Mobily |
177 |
+ 369 % |
|
Zain Saudi |
135 |
+ 4 % |
|
Food & Agriculture |
||
|
Savola |
280 |
+ 154 % |
|
Herfy |
11 |
(73%) |
|
Saudi Catering |
(235) |
-- |
|
Retail |
||
|
Jarir |
183 |
+8% |
|
Alhokair* |
102 |
(55%) |
|
Al Othaim |
91 |
+55% |
|
eXtra |
69 |
(5%) |
|
Healthcare Sector |
||
|
Dallah |
14 |
(9%) |
|
Mouwasat |
82 |
(9%) |
|
Care |
12 |
(13%) |
|
Al Hammadi |
16 |
(20%) |
|
Other sectors |
||
|
Bupa Arabia |
217 |
-- |
|
Leejam |
(100) |
-- |
|
Saudi Ceramic |
5 |
-- |
|
Saudi Aramco |
35,169 |
(62%) |
|
SISCO |
7 |
(67%) |
|
SADAFCO* |
92 |
+58% |
*Q1 as the fiscal year ends March 31.
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