Al-Ahly Capital revealed its expectations that 50 companies listed on the Saudi stock market “Tadawul” will achieve regarding 19.9 billion riyals in profits by the end of the first quarter of this year 2023, expecting that the profits of SABIC will decrease to 647 million riyals, or 90% from the profits achieved in the corresponding quarter of the year. Previously, the petrochemical sector is likely to be strongly affected in the first quarter of 2023 compared to the first quarter of 2022.
On the other hand, “Al-Ahly Capital” expected STC’s profits to rise slightly to 3088 million riyals by the end of the first quarter of this year, by 1.7% compared to the first quarter of the previous year, and an increase in the profits of Mobily by 40.4%, and a strong jump in the profits of Zain by 153%. %.
According to the expectations of “Al-Ahly Capital”, 5 banks out of the 6 covered banks will achieve an increase in their profits by the end of the first quarter of 2023 compared to the same quarter of the previous year, while the profits of Bank Al-Jazira will decline by 17.9%.
According to expectations, 6 cement companies will achieve an increase in their profits in the first quarter of 2023, compared to the first quarter of 2022, while Southern Cement will be the only declining company, as its profits are expected to decrease to 63.4 million riyals, by 27.2% compared to the same quarter of the previous year.
And “Al-Ahly Capital” expected that 29 of the 50 companies included in the forecasts would achieve an increase in profits for the first quarter of this year, compared to the same quarter of the previous year, while it expected that the profits of 14 other companies would decline and that 5 companies would record losses by the end of the first quarter of the year 2023.
| company | Expected profits for the first quarter of 2023 (million riyals) | Expected growth over the same quarter of the previous year % |
| Al Rajhi Bank | 4342 | 5 |
| stc | 3088 | 1.7 |
| Riyad Bank | 2035 | 31.1 |
| Saudi Electricity | 1568 | 3.3 |
| the French bank | 1195 | 36.7 |
| Development Bank | 1132 | 37.3 |
| SABIC Agricultural Nutrients | 1119 | -55.5 |
| Sabek | 647 | -90 |
| the National Bank | 532 | 8.5 |
| pasture | 468 | 11.3 |
| Sipchem | 468 | -56.6 |
| Suleiman Habib | 452 | 15.8 |
| Mobily | 448 | 40.4 |
| Solutions | 312 | 10.2 |
| Al Jazeera Bank | 308 | -17.9 |
| Lubrev | 300 | -0.8 |
| Nahdi | 254 | 7.1 |
| Americana | 250.5 | – |
| Jarir | 249 | -1.1 |
| beautiful | 203 | 153 |
| drilling | 152 | 56.1 |
| consolation | 144 | -3.9 |
| Saudi Cement | 138 | 126 |
| Savola | 137 | -49.5 |
| Supply | 114 | 224 |
| Yamama Cement | 104 | 251 |
| Othaim | 103 | 12.3 |
| extra | 99.4 | 1.9 |
| Al Hammadi | 69.5 | 12.1 |
| Eastern Cement | 67.7 | 134 |
| Qassim Cement | 66.9 | 167 |
| Southern Cement | 63.4 | -27.2 |
| manufacturing | 62.1 | -79.9 |
| fitness time | 62 | 34.8 |
| Yanbu Cement | 54.4 | 39.9 |
| trade | 54.3 | -61.4 |
| Arabia Cement | 48.6 | 15.9 |
| Kind | 47.3 | 133 |
| Bin Dawood | 42.9 | -34.5 |
| German | 35.5 | 73.2 |
| Sera | 33.3 | – |
| advanced | 20.1 | -87.8 |
| Saudi Pipes | 16.4 | 16.4 |
| Thankful | 15.4 | 4.6 |
| Senomy Retail | 4.6 | -107 |
| Dar Al-Arkan | -7.3 | – |
| floor | -46 | – |
| Saudi group | -147 | – |
| It flows | -241 | – |
| entity | -800 | – |
