A total of 38 Tadawul-listed companies disclosed their 2023 financial results last week.
As many as 25 market players recorded higher profit, six reported profit declines, while seven 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
10
–
5
5
Cement
15
12
3
9
–
Retail
34
21
13
6
2
Energy & Utilities
9
9
5
4
–
Electricity
1
1
1
–
–
Agriculture and Food Industries
20
9
6
2
1
Telecom & IT
9
6
5
1
–
Health care
2
–
–
–
–
Insurance
26
–
–
–
–
Multi-Investment
7
4
2
1
1
Industrial investment
17
10
6
2
2
Building & Construction
17
6
4
1
1
Real Estate Development
12
6
1
4
1
Transportation
8
5
2
1
2
Media and Publishing
6
1
–
–
1
Hotels & Tourism
3
–
–
–
–
Industry
1
1
–
–
1
REITS
18
–
–
–
–
Services
6
1
–
1
–
Derivatives
4
–
–
–
–
Index Funds
11
–
–
–
–
Total
248
112
56
39
17
The consolidated profit of the companies that disclosed their results, including Saudi Aramco, dropped by 23.7% year-on-year to SAR 570.51 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
10
30,841.29
(361.68)
(101.17 %)
Cement
15
12
2,182.56
1,835.16
(15.92 %)
Retail
34
21
7,223.46
7,613.65
5.40 %
Energy & Utilities
9
9
610,322.29
460,447.17
(24.56 %)
Electricity
1
1
352.32
518.77
47.24 %
Agriculture and Food Industries
20
9
4,029.62
4,472.85
11.00 %
Telecom & IT
9
6
16,456.07
19,356.71
17.63 %
Health care
2
–
–
–
–
Insurance
26
–
–
–
–
Multi-Investment
7
4
175.29
95.10
(45.74 %)
Industrial investment
17
10
10,082.71
2,442.83
(75.77 %)
Building & Construction
17
6
280.17
516.51
84.36 %
Real Estate Development
12
6
1,145.74
1,143.14
(0.23 %)
Transportation
8
5
1,474.72
2,215.74
50.25 %
Media and Publishing
6
1
(9.22)
(132.30)
(1335.08 %)
Hotels & Tourism
3
–
–
–
–
Industry
1
1
(7.22)
(4.25)
41.16 %
REITS
18
–
–
–
–
Services
6
1
424.60
390.06
(8.13 %)
Derivatives
4
–
–
–
–
Index Funds
11
–
–
–
–
Total
248
112
747,496.14
570,511.79
(23.68 %)
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