‎Al Rajhi Capital issues earnings estimates for Q2 2025

Argaam EN
‎

Al Rajhi Capital released its Q2 2025 estimates for several Saudi companies under its coverage.

It expects Saudi Basic Industries Corp. (SABIC) to log a loss of SAR 480 million in Q2 2025, while stc’s earnings are expected to decline by 4% year-on-year.

Al Rajhi Capital’s Q2 Forecasts (SAR mln)

Company

Q2

2025 (Projected)

YoY Change

Petrochemicals

SABIC

(480)

—

Sipchem

89

(27%)

SABIC AN

1021

+ 45%

Yansab

64

(72%)

Advanced

105

+ 152%

Cement

Arabian Cement

24

(17%)

Yamama Cement

142

+ 73%

Saudi Cement

104

+ 19%

Qassim Cement

79

+ 8%

Yanbu Cement

32

(20%)

Southern Cement

25

(17%)

Najran Cement

12

+ 60%

Riyadh Cement

63

(2%)

Food

Almarai

647

+ 4%

SADAFCO

130

+ 2%

Savola

102

(25%)

NADEC

114

+ 2%

Tanmiah

11

(54%)

Entaj

1

(86%)

Almunajem

37

(42%)

First Mills

56

+ 23%

Modern Mills

49

+ 10%

Retail

Jarir

174

+ 2%

Cenomi Retail

33

(59%)

Al Othaim

35

(19%)

eXtra

100

(6%)

BinDawood Holding

48

(34%)

Telecoms

stc

3432

(4%)

Mobily

782

(18%)

Zain KSA

109

(4%)

Healthcare

Dallah

85

(24%)

Mouwasat

170

+ 11%

Care

79

+ 14%

Al Hammadi

68

(42%)

Fakeeh

66

+ 39%

Sulaiman Al Habib

605

+ 9%

Saudi German Health

60

(2%)

Pharmaceuticals

SPIMACO

22

(34%)

Jamjoom Pharma

118

+ 10%

Astra

172

+ 2%

Avalon Pharma

23

+ 6%

Services

Equipment House

9

+ 17%

Maharah

18

(65%)

Al Mawarid

27

+ 16%

Tamkeen

22

+ 6%

SMASCO

34

(5%)

Insurance

Bupa Arabia

423

+ 5%

Tawuniya

473

+ 3%

GIG

49

(7%)

Malath

11

—

Walaa Insurance

(24)

—

Saudi Re

53

+ 22%

Transport Logistics

Lumi Rental

48

+ 4%

Theeb

49

+ 10%

Budget Saudi

82

+ 16%

SISCO*

20

+ 90%

SAL

149

(4%)

Jahez

40

+ 32%

CATRION

76

+ 4%

SGS

106

+ 35%

Software IT Services

solutions

343

(24%)

MIS

49

+ 55%

2P

45

(23%)

Elm

535

+ 10%

Rasan

32

+ 264%

Real estate

Al Akaria

24

—

Cenomi Centers

156

(56%)

Retal

68

(6%)

Riyadh Development

47

(49%)

Other Sectors

Bawan

33

+ 43%

Saudi Ceramics

123

—

Aldrees

110

+ 33%

Arabian Drilling

24

+ 19%

ADES Holding

194

(2%)

Luberef

300

—

Alkhorayef Water

62

(19%)

Miahona

7

(11%)

ACWA Power

319

(49%)

AMAK

73

+ 18%

Seera

59

+ 8%

Tadawul Group

111

(32%)

Leejam

64

(13%)

Riyadh Cables

298

+ 87%

Tasheel

49

+ 5%

Al Arabia

50

+ 6%

* Except for revenues of construction sector

The table below shows Al Rajhi Capital’s forecast for companies listed on the Nomu-Parallel Market:

Al Rajhi Capital’s Q2 Forecasts for Nomu-Listed Companies (SAR mln)

Company

H1

2025 (Projected)

YoY Change

Marble Design

7

(21%)

TAM

10

(9%)

Academy for Learning

21

+ 171%…
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