A total of 25 Tadawul-listed companies disclosed their 2023 financial results last week, including Saudi Aramco.
Fourteen market players recorded higher profit, eight reported profit declines, 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
9
3
6
–
Retail
34
15
8
5
2
Energy & Utilities
9
7
3
4
–
Electricity
1
1
1
–
–
Agriculture and Food Industries
20
9
6
2
1
Telecom & IT
9
5
5
–
–
Health care
2
–
–
–
–
Insurance
26
–
–
–
–
Multi-Investment
7
1
1
–
–
Industrial investment
17
7
4
2
1
Building & Construction
17
6
4
1
1
Real Estate Development
12
4
–
4
–
Transportation
8
5
2
1
2
Media and Publishing
6
–
–
–
–
Hotels & Tourism
3
–
–
–
–
Industry
1
–
–
–
–
REITS
18
–
–
–
–
Services
6
1
–
1
–
Derivatives
4
–
–
–
–
Index Funds
11
–
–
–
–
Total
248
88
45
33
10
The consolidated profit of the companies that disclosed their results dropped by 24% year-on-year to SAR 567.12 billion.
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
30,570.32
(101.63)
(100.33 %)
Cement
15
9
1,578.97
1,395.31
(11.63 %)
Retail
34
15
5,420.90
5,605.34
3.40 %
Energy & Utilities
9
7
609,657.13
459,702.51
(24.60 %)
Electricity
1
1
352.32
519.00
47.31 %
Agriculture and Food Industries
20
9
4,029.62
4,472.85
11.00 %
Telecom & IT
9
5
16,360.20
19,342.74
18.23 %
Health care
2
–
–
–
–
Insurance
26
–
–
–
–
Multi-Investment
7
1
36.73
71.20
93.85 %
Industrial investment
17
7
9,994.07
2,263.88
(77.35 %)
Building & Construction
17
6
280.17
516.47
84.34 %
Real Estate Development
12
4
723.41
577.94
(20.11 %)
Transportation
8
5
1,474.72
2,215.74
50.25 %
Media and Publishing
6
–
–
–
–
Hotels & Tourism
3
–
–
–
–
Industry
1
–
–
–
–
REITS
18
–
–
–
–
Services
6
1
424.60
390.06
(8.13 %)
Derivatives
4
–
–
–
–
Index Funds
11
–
–
–
–
Total
248
88
743,424.90
566,933.72
(23.74 %)
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