Riyad Capital has issued its Q2 2017 earnings forecasts for several Tadawul-listed companies operating in various sectors.
Petrochemical giant Saudi Basic Industries Corporation (SABIC) is expected to see a 10 percent YoY decline in net income to SAR 5.34 billion.
Al Rajhi Bank and Alinma Bank are projected to see profit increase by 10 percent and 3 percent YoY, respectively.
The outlook was negative for all cement producers under coverage due to falling cement prices, weak demand and ongoing supply glut.
Meanwhile, Saudi Telecom Co. (STC) is expected to report a 32 percent year-on-year (YoY) jump in its net profit to SAR 2.45 billion for the same period.
Saudi juice and dairy producer Almarai is likely to see its earnings 6 percent higher YoY in Q2.
|
Riyad Capital Q2 Forecasts (SAR mln) |
||
|
Company |
Estimates |
YoY Variation |
|
Cement |
||
|
Yamama Cement |
52 |
(55%) |
|
Yanbu Cement |
92 |
(42%) |
|
Qassim Cement |
64 |
(44%) |
|
Southern Cement |
96 |
(64%) |
|
Saudi Cement |
127 |
(49%) |
|
Total |
431 |
(53%) |
|
Petrochemicals |
||
|
*Advanced |
161 |
(13%) |
|
Petrochem |
151 |
(28%) |
|
SIIG |
174 |
(7%) |
|
Saudi Kayan |
168 |
85% |
|
Yansab |
356 |
(48%) |
|
SABIC |
4,796 |
(10%) |
|
SAFCO |
302 |
-- |
|
Sahara |
81 |
(16%) |
|
Sipchem |
32 |
23% |
|
Petro Rabigh |
(210) |
-- |
|
Total |
6,011 |
(13%) |
|
Banks |
||
|
Alawwal |
445 |
(18%) |
|
BSF |
1,084 |
(3%) |
|
SABB |
1,041 |
(10%) |
|
ANB |
801 |
(2%) |
|
Samba |
1,290 |
(2%) |
|
Al Rajhi |
2,262 |
10% |
|
Alinma |
421 |
3% |
|
Total |
7,344 |
0% |
|
Retail |
||
|
Almarai |
668 |
6% |
|
Jarir |
161 |
25% |
|
Total |
NA |
NA |
|
Telecom |
||
|
STC |
2,453 |
32% |
|
Mobily |
(176) |
-- |
|
Zain Saudi |
46 |
-- |
|
Total |
2,323 |
49% |
|
Building Materials |
||
|
Ceramics |
11 |
(61%) |
|
Bawan |
19 |
(64%) |
|
Aslak |
8 |
(79%) |
|
Zoujaj |
12 |
8% |
|
Amiantit |
(38) |
-- |
|
Total |
12 |
(91%) |
*Q2 results announced.
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