Al Rajhi Capital issued Q4 2024 earnings forecasts for Saudi-listed companies under its coverage.
Saudi Basic Industries Corp. (SABIC) is expected to post a net profit of SAR 737 million, while stc’s earnings are forecast to rise 26% year-on-year (YoY).
Al Rajhi Capital’s Q4 Earnings Forecasts (SAR mln)
Company
Q3
2024 (Projected)
Change YoY
Q3 2023
Petrochemicals
SABIC
737
—
Sipchem
96
(40%)
SABIC AN
885
(10%)
Yansab
154
+735%
Advanced
23
—
Cement
Arabian Cement
46
+41%
Yamama Cement
109
+107%
Saudi Cement
125
+20%
Qassim Cement*
62
—
Yanbu Cement
40
+119%
Southern Cement
44
(41%)
Najran Cement
22
+17%
Riyadh Cement
74
+70%
Foods
Almarai
443
+20%
SADAFCO
103
(2%)
Savola
11632
+5023%
NADEC
210
+69%
Tanmiah
19
(29%)
Almunajem
44
(47%)
First Mills
60
+4%
Modern Mills
56
+10%
Retail
Jarir
250
(9%)
Cenomi Retail
(14)
—
Al Othaim
283
+67%
eXtra
157
+24%
BinDawood Holding
71
(41%)
Telecoms
stc**
2860
+26%
Mobily
690
(8%)
Zain KSA
47
(84%)
Healthcare
Dallah
137
+20%
Mouwasat
243
+32%
Care
64
—
Al Hammadi
76
+20%
Fakeeh
95
+29%
Sulaiman Al Habib
594
+13%
Saudi German Health
64
+74%
Pharmaceuticals
SPIMACO
(12)
—
Jamjoom Pharma
48
+8%
Astra Industrial
156
+25%
Avalon Pharma
49
+8%
Insurance
Bupa Arabia
147
+40%
Tawuniya
72
(20%)
GIG
19
(14%)
Malath
10
+10%
Walaa Insurance
34
(26%)
Saudi Re
50
+160%
Transport Logistics
Lumi Rental
45
+76%
Theeb
46
+30%
Budget Saudi
80
+21%
SISCO**
18
+169%
SAL
173
(4%)
Jahez
58
+74%
Other Sectors
Bawan
31
(15%)
Saudi Ceramics
20
—
Equipment House
11
+2%
Tamkeen
19
+49%
Aldrees
89
+24%
Arabian Drilling
90
(51%)
ADES Holding
205
+23%
Luberef
206
(23%)
solutions
275
+70%
MIS
10
—
2P
38
(3%)
Elm
409
+25%
Rasan
35
+256%
Alkhorayef Water
71
+141%
Miahona****
14
+10%
ACWA Power
419
(29%)
Al Arabia
55
(31%)
AMAK
46
+680%
SMASCO
36
(20%)
Seera
35
(68%)
Tadawul Group
133
+45%
United International
65
+17%
Leejam Sports
133
+3%
Riyadh Cables
219
+63%
**stc’s 51% stake sale in TAWAL to the PIF was excluded, resulting in a one-off income.
***Excluding revenues of the construction sector
**** A potential one-off payment from Al-Haer project development
Al Rajhi Capital issued Q4 2024 earnings forecasts for Saudi-listed companies under its coverage.
Saudi Basic Industries Corp. (SABIC) is expected to post a net profit of SAR 737 million, while stc’s earnings are forecast to rise 26% year-on-year (YoY).
Al Rajhi Capital’s Q4 Earnings Forecasts (SAR mln)
Company
Q3
2024 (Projected)
Change YoY
Q3 2023
Petrochemicals
SABIC
737
—
Sipchem
96
(40%)
SABIC AN
885
(10%)
Yansab
154
+735%
Advanced
23
—
Cement
Arabian Cement
46
+41%
Yamama Cement
109
+107%
Saudi Cement
125
+20%
Qassim Cement*
62
—
Yanbu Cement
40
+119%
Southern Cement
44
(41%)
Najran Cement
22
+17%
Riyadh Cement
74
+70%
Foods
Almarai
443
+20%
SADAFCO
103
(2%)
Savola
11632
+5023%
NADEC
210
+69%
Tanmiah
19
(29%)
Almunajem
44
(47%)
First Mills
60
+4%
Modern Mills
56
+10%
Retail
Jarir
250
(9%)
Cenomi Retail
(14)
—
Al Othaim
283
+67%
eXtra
157
+24%
BinDawood Holding
71
(41%)
Telecoms
stc**
2860
+26%
Mobily
690
(8%)
Zain KSA
47
(84%)
Healthcare
Dallah
137
+20%
Mouwasat
243
+32%
Care
64
—
Al Hammadi
76
+20%
Fakeeh
95
+29%
Sulaiman Al Habib
594
+13%
Saudi German Health
64
+74%
Pharmaceuticals
SPIMACO
(12)
—
Jamjoom Pharma
48
+8%
Astra Industrial
156
+25%
Avalon Pharma
49
+8%
Insurance
Bupa Arabia
147
+40%
Tawuniya
72
(20%)
GIG
19
(14%)
Malath
10
+10%
Walaa Insurance
34
(26%)
Saudi Re
50
+160%
Transport Logistics
Lumi Rental
45
+76%
Theeb
46
+30%
Budget Saudi
80
+21%
SISCO**
18
+169%
SAL
173
(4%)
Jahez
58
+74%
Other Sectors
Bawan
31
(15%)
Saudi Ceramics
20
—
Equipment House
11
+2%
Tamkeen
19
+49%
Aldrees
89
+24%
Arabian Drilling
90
(51%)
ADES Holding
205
+23%
Luberef
206
(23%)
solutions
275
+70%
MIS
10
—
2P
38
(3%)
Elm
409
+25%
Rasan
35
+256%
Alkhorayef Water
71
+141%
Miahona****
14
+10%
ACWA Power
419
(29%)
Al Arabia
55
(31%)
AMAK
46
+680%
SMASCO
36
(20%)
Seera
35
(68%)
Tadawul Group
133
+45%
United International
65
+17%
Leejam Sports
133
+3%
Riyadh Cables
219
+63%
**stc’s 51% stake sale in TAWAL to the PIF was excluded, resulting in a one-off income.
***Excluding revenues of the construction sector
**** A potential one-off payment from Al-Haer project development
