Ubhar Capital releases Q1 2023 forecasts

09/04/2023 ِArgaam

Ubhar Capital releases Q1 2023 forecasts

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Ubhar Capital issued Q1 2023 earnings forecasts for a number of Saudi banks and companies under coverage.

 

Saudi Basic Industries Corporation (SABIC) is expected to post a profit slump of 80% year-on-year (YoY) to SAR 1.26 billion. Al Rajhi Bank’s first-quarter earnings are forecast to grow 8% to SAR 4.5 billion.

 

The following are the brokerage’s Q1 2023 earnings forecasts:

 

Ubhar Capital Q1 2023 Earnings Forecasts for Companies, Banks (SAR mln)

Company

Q1 2023 estimates

YoY

Banks

SNB

4629.0

+3%

Al Rajhi Bank

4478.1

+8%

SABB

1434.3

+43%

Materials

SABIC

1263.0

(81%)

Petro Rabigh

(294.0)

--

Sipchem

516.0

(52%)

Tasnee

177.0

(43%)

Advanced

51.0

(69%)

Yansab

(269.0)

--

SIIG

127.0

(46%)

Maaden

1570.0

(28%)

SABIC Agri-Nutrients

845.2

(66%)

Telecommunications

stc

3417.0

+13%

Mobily

366.0

+15%

Zain KSA

132.0

+64%

Insurance

Bupa Arabia

110.3

+17%

Tawuniya

70.4

+251%

Saudi Re

15.5

+2%

Healthcare

Sulaiman Al Habib

426.5

+9%

Mouwasat

152.2

+1%

Dallah Healthcare

94.6

+14%

Al Hammadi

62.7

+1%

Saudi German Health

27.7

+35%

IT

solutions

283.1

--

MIS

15.1

+228%

Food Retailing

Jarir

263.9

+5%

SADAFCO*

81.6

+33%

BinDawood Holding

69.6

+6%

Al Othaim

96.3

+5%

Alandalus Property

20.2

+2%

Cenomi Centres*

416.6

--

Leejam

47.5

+3%

Other Sectors

Ataa Educational*

9.3

+156%

Saudi Ceramics

54.2

+6%

*Different FY

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