A total of 20 Tadawul-listed companies disclosed their 2023 financial results last week, including Saudi Electricity Co. (SEC), Mobile Telecommunication Company Saudi Arabia (Zain KSA), Sahara International Petrochemical Co. (Sipchem), and National Industrialization Co. (Tasnee).
As many as seven market players realized a profit rise, 10 reported a profit decline, while three incurred losses, as follows:
Financial Results of Announced Companies (Million Riyal)
The official deadline for 2023 earnings season falls on March 31.
Distribution of Financial Results of Announced companies by sector
Sector
Number of sector companies
No. of disclosing companies
Companies with growth in income
Companies with a decreasing income
Companies incurring losses
Banks
10
10
8
2
–
Petrochemical Industries
12
8
–
5
3
Cement
15
6
2
4
–
Retail
34
13
6
5
2
Energy & Utilities
9
5
2
3
–
Electricity
1
1
1
–
–
Agriculture and Food Industries
20
7
5
2
–
Telecom & IT
9
4
4
–
–
Health care
2
–
–
–
–
Insurance
26
–
–
–
–
Multi-Investment
7
–
–
–
–
Industrial investment
17
5
3
2
–
Building & Construction
17
5
3
1
1
Real Estate Development
12
3
–
3
–
Transportation
8
3
2
–
1
Media and Publishing
6
–
–
–
–
Hotels & Tourism
3
–
–
–
–
Industry
1
–
–
–
–
REITS
18
–
–
–
–
Services
6
–
–
–
–
Derivatives
4
–
–
–
–
Index Funds
11
–
–
–
–
Total
248
70
36
27
7
The consolidated profit of the companies that disclosed their results dropped by 23% to SAR 110.3 billion compared to a year earlier.
Accumulative Results –Net Income Sector Statistics
Sector
Number of sector companies
No. of disclosing companies
2022
2023
Change
Banks
10
10
62,521.75
69,962.31
11.90 %
Petrochemical Industries
12
8
30,570.27
(101.59)
(100.33 %)
Cement
15
6
1,039.56
937.79
(9.79 %)
Retail
34
13
5,021.71
4,970.10
(1.03 %)
Energy & Utilities
9
5
12,228.06
6,722.21
(45.03 %)
Electricity
1
1
352.32
519.00
47.31 %
Agriculture and Food Industries
20
7
3,809.22
4,350.65
14.21 %
Telecom & IT
9
4
15,430.01
17,986.51
16.57 %
Health care
2
–
–
–
–
Insurance
26
–
–
–
–
Multi-Investment
7
–
–
–
–
Industrial investment
17
5
9,968.27
2,206.54
(77.86 %)
Building & Construction
17
5
186.00
315.45
69.60 %
Real Estate Development
12
3
423.06
306.37
(27.58 %)
Transportation
8
3
1,312.45
2,087.54
59.06 %
Media and Publishing
6
–
–
–
–
Hotels & Tourism
3
–
–
–
–
Industry
1
–
–
–
–
REITS
18
–
–
–
–
Services
6
–
–
–
–
Derivatives
4
–
–
–
–
Index Funds
11
–
–
–
–
Total
248
70
142,862.66
110,262.88
(22.82 %)
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