KASB Capital issues Q2 earnings estimates; SABIC to fall 94%

20/06/2023 Argaam

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KASB Capital has issued its estimates for Q2 2023 earnings of several Saudi companies and banks under its coverage.

Saudi Basic Industries Corporation’s (SABIC) net profit for Q2 is expected to reach SAR 500.71 million, down 94% year-on-year (YoY), while Al Rajhi Bank’s earnings are expected to fall 4% YoY.

Net Profit Estimates for Q2 2023 (SAR mln)

Company

Q2 2023 (projected)

YoY change

Petrochemical Industries

SABIC

500.71

(94%)

Yansab

142.14

(51%)

Advanced

51.65

(53%)

Sipchem

655.25

(39%)

SABIC Agri-Nutrients

1374.55

(55%)

Banking

Al Rajhi Bank

4069.42

 (4%)

Alinma Bank

1028.47

+11%

Bank Albilad

566.34

+11%

Bank AlJazira

198.57

(23%)

Telecommunications

stc

3203.03

+13%

Mobily

498.87

+39%

Cement

Saudi Cement

77.19

(25%)

Southern Cement

35.60

(60%)

Yamama Cement

74.55

(18%)

Qassim Cement

18.37

(37%)

Real Estate Development

Jabal Omar

92.60

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