NCB Capital issued its Q1 estimates for Saudi-listed companies under its coverage, with Saudi Basic Industries Corp. (SABIC) expected to post a net profit of SAR 4.11 billion, a 25 percent year-on-year drop.
Al Rajhi Bank’s Q1 earnings are expected to rise by 11 percent YoY to SAR 2.65 billion.
NCB Capital expects all petrochemicals firms under its coverage to post lower profit this time around, with the exception of Sahara Petrochemical Co., which is forecast to generate net profit of SAR 178 million, up by 27 percent YoY.
In the telecom sector, Saudi Telecom Co. (STC), the largest mobile services provider, is estimated to post a profit rise of 2 percent YoY to SAR 2.65 billion in Q1.
Al Tayyar Travel Group will likely record a net income of SAR 106 million, up 23 percent YoY.
Elsewhere, net profit of United Electronics Co. (eXtra) and Jarir Marketing Co. (Jarir) is projected to jump by 34 percent and 14 percent YoY respectively in the first three months of 2019.
In the cement sector, Yamama Cement Co. is estimated to see a profit slump of 50 percent YoY to SAR 12 million in Q1.
Among banks, Samba Financial Group is likely to report a net profit of SAR 1.42 billion; 8 percent higher YoY.
The Kingdom’s utility provider, Saudi Electricity Co. is seen to post SAR 1.58 billion in losses in Q1 2019.
|
NCBC Q1 2019 profit estimates (SAR mln) |
||
|
Company |
Q1 2019 estimates |
YoY Variation |
|
Petrochemicals |
||
|
SABIC |
4,116 |
(25%) |
|
SIIG |
117 |
(41%) |
|
YANSAB |
487 |
(23%) |
|
Tasnee |
164 |
(55%) |
|
Sipchem |
120 |
(21%) |
|
Sahara |
178 |
+27% |
|
SAFCO |
190 |
(20%) |
|
Saudi Kayan |
203 |
(56%) |
|
Petrochem |
186 |
(44%) |
|
Telecom |
||
|
STC |
2,647 |
+2% |
|
Mobily |
(85) |
-- |
|
Zain Saudi |
114 |
-- |
|
Food |
||
|
Savola |
(120) |
-- |
|
Healthcare |
||
|
Saudi German |
54 |
(38%) |
|
Mouwasat |
95 |
(10%) |
|
Al Hammadi |
31 |
-- |
|
Tourism |
||
|
SGS |
102 |
(5%) |
|
Catering |
106 |
(12%) |
|
Al Tayyar |
106 |
+23% |
|
Retail |
||
|
Leejam |
54 |
-- |
|
eXtra |
29 |
+34% |
|
Alhokair* |
27 |
-- |
|
Shaker |
(32) |
-- |
|
Jarir |
249 |
+14% |
|
Al Othaim |
68 |
+1% |
|
Cement |
||
|
Arabian Cement |
12 |
-- |
|
Yamama Cement |
12 |
(50%) |
|
EPCC |
27 |
+59% |
|
Qassim Cement |
45 |
(21%) |
|
SPCC |
47 |
(54%) |
|
Saudi Cement |
130 |
(9%) |
|
Yanbu Cement |
42 |
+5% |
|
Real estate |
||
|
Dar Al-Arkan |
20 |
(94%) |
|
Taiba |
40 |
+48% |
|
Al-Akaria |
16 |
(64%) |
|
Banking |
||
|
Al Rajhi |
2,651 |
+11% |
|
Alinma |
667 |
+15% |
|
BSF |
1,033 |
(7%) |
|
SAMBA |
1,415 |
+8% |
|
Other sectors |
||
|
SEC |
(1,579) |
-- |
|
Steel Pipe |
12 |
-- |
* Q4 (fiscal year ends March 31)
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