Al Rajhi Capital issues Q4 2020 profit forecasts for Saudi companies

05/01/2021 Argaam Special

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Al Rajhi Capital issued Q4 2020 earnings forecasts for Saudi-listed companies.

The firm expects the outlook for Q4 to be positive, given the improvement in economic activities.

 Saudi Arabian Oil Co. (Saudi Aramco) is forecast to post a decline of 26% year-on-year (YoY) in Q4 2020 net profit to SAR 55.25 billion. Saudi Basic Industries Corporation (SABIC) is expected to post a 38% profit rise YoY to SAR 3 billion during the same period.

Al Rajhi Capital’s Q4 Forecasts (SAR mln)

Company

Q4 2020 Estimates (SAR mln)

YoY Variation

Petrochemicals Sector

SABIC

3,004

--

Sipchem

166

--

SABIC Agri-Nutrients

334

(3%)

Yansab

252

+47%

Advanced

207

+8%

Cement Sector

Arabian Cement

75

+2%

Yamama Cement

77

(2%)

Saudi Cement

121

(16%)

Qassim Cement

121

(16%)

Yanbu Cement

88

+6%

Southern Cement

160

(1%)

Najran Cement

53

+49%

Riyadh Cement **

100

(15%)

Telecommunications

stc

2,633

+13%

Mobily

223

--

Zain Saudi

101

(4%)

Food & Agriculture

Almarai

380

+22%

Savola

217

+58%

Herfy

46

(8%)

Retail

Jarir

272

(2%)

Alhokair*

(11)

--

Al Othaim

95

(33%)

eXtra

86

+19%

BinDawood

128

+3%

Healthcare

Dallah

40

(42%)

Mouwasat

161

+24%

Care

21

+6%

Al Hammadi

36

+32%

Other sectors

Bupa Arabia

101

(29%)

Leejam

36

(47%)

Saudi Ceramic***

41

+69%

Saudi Aramco

55,250

(26%)

SISCO

23

+283%

Aldrees

35

(85%)

SADAFCO*

71

+4%

*Different year end

** Nomu-listed company

***Net profit before Zakat. Financial data on a semi-annual basis.


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