Results Summary of Listed Companies in the Saudi Market

Transcription

1 Top 15 Companies Lowest Company P/BV D/Y (%)* Buruj Cooperative Insurance Co Al-Babtain Co Gulf Union Cooperative Insurance Co Arabian Shield Insurance Co Bank Aljazira Altayyar Travel Group Saudi Investment Bank Solidarity Saudi Takaful Co Saudi Arabian Insurance Co Trade Union Cooperative Insurance Co Arab National Bank United Cooperative Assurance Co Saudi United Insurance Co Zamil Industrial Investment Co Salama Cooperative Insurance Co Source: Bloomberg, AlJazira Capital. Prices as of 19 November. * Trailing 12 months (), ** Non recurring profit Top 15 Companies Highest D/Y Company D/Y(%)* Saudi Cement Co Yanbu Cement Co Al Yamamah Steel Industries Co Al Sagr Cooperative Insurance Co Aseer Trading Co National Shipping Co Arabian Cement Co Zamil Industrial Investment Co Saudi Chemical Co Arriyadh Development Co Qassim Cement Co Southern Province Cement Co Al Hassan Ghazi Ibrahim Shaker Co Saudi Airlines Catering Co Eastern Province Cement Co Source: Bloomberg, AlJazira Capital. Prices as of 19 November Buruj Insurance Co., Al-Babtain Power and Telecommunication Co., and Gulf Union Cooperative Insurance Co., posted the lowest (5.88x-7.32x) in the Saudi market for the trailing 12 months (), followed by Arabian Shield Cooperative Insurance Co.(7.46x). The average for the Saudi market on a basis stood at 14.75x. Saudi Cement Co. had the highest dividend yield (12.99%) in the Saudi market. The Materials sector dominated the market in terms of dividend yield, with 8 companies ranking among the top 15 companies. Overall, the dividend yield in the Saudi market stood at 3.48% Lowest 15 Companies Lowest P/BV Company D/Y (%)* Dar Alarkan Real Estate Development Co Saudi Ceramic Co % Najran Cement Co Saudi Real Estate Co Aseer Trading Co Al Hassan Ghazi Ibrahim Shaker Co Al Jouf Cement Co Abdullah A. M. Al-Khodari Sons Co Arabian Pipes Co Bank Aljazira Etihad Etisalat Co Saudi Arabian Amiantit Co Hail Cement Co Saudi Investment Bank Saudi Re for Cooperative Reinsurance Co Source: Bloomberg, AlJazira Capital. Prices as of 19 November Highest 15 Companies Company Bk Value L/C (%) Saudi Industrial Export Co % Al Sorayai Trading and Industrial % Etihad Atheeb Telecommunication Co % MetLife AIG ANB Cooperative Co % Mobile Telecommunications Co Saudi Paper Manufacturing Co % Saudi Cable Co % Saudi Fisheries Co % Al-Ahlia Insurance Co % Allied Cooperative Insurance Group % Middle East Specialized Cables Co % Anaam International Holding Group % Nama Chemicals Co % Tihama Advertising Co % Saudi Enaya Cooperative insurance Co % L /C refers to accumulated losses to capital Accumulated Loss to Capital Source: Bloomberg, AlJazira Capital. Prices as of 19 November Dar Alarkan Co. had the lowest P/BV (0.45x) in the Saudi market, followed by Saudi Ceramic Co. (0.63x). The P/BV for the Saudi market stood at 1.56x Saudi Industrial Export Co., Al Sorayai Trading Co., andeithad Atheeb Co. lost 90.9%,49.4%, and 45.1% of capital, respectively. 1

2 Best 15 Companies Top price performers Worst 15 Companies Worst price performers Company YTD % United Electronics Co % Salama Cooperative Insurance Co. 82.7% Jazan Development Co Al-Rajhi Company for Cooperative 55.3% AlJazira Mawten REIT 54.2% - - Arabia Insurance Cooperative Co Saudi Research and Marketing 50.9% Saudi Arabian Mining Co. 42.9% National Agricultural Development Co. 32.6% Saudi Enaya Cooperative Co. 27.9% Dar Alarkan Real Estate Co. 25.4% Saudi United Cooperative Co. 24.1% Abdullah Al Othaim Markets Co. 23.9% Jarir Marketing Co. 23.2% National commercial Bank Source: Bloomberg, AlJazira Capital. Prices as of 19 November Company YTD % Saudi Industrial Export Co % The Mediterranean and Gulf Co % Southern Province Cement Co % National Medical Care Co % Saudi Cement Co % Al Sagr Cooperative Co Etihad Etisalat Co % United Wire Factories Co Nama Chemicals Co % Saudi Ground Services Co Al Hassan Ghazi Ibrahim Shaker Co % Qassim Cement Co % Arabian Pipes Co % Knowledge Economic City -40.8% Altayyar Travel Group -40.5% Source: Bloomberg, AlJazira Capital. Prices as of 19 November Unites Electronics Co. has been the best performing stock since the beginning of 2017 (up 111.2% YTD), followed by Salama Cooperative Insurance Co. (up 82.7% YTD). The list indicates that 15 companies appreciated in value of 23. or more, since the start of Saudi Industrial Export Co. has been the worst performer (down 57.6% YTD), followed by The Mediterranean and Gulf Insurance and Reinsurance Co. (down 55.6% YTD). The list indicates that 15 companies lost 40. or more of their value since the start of the year. Top 15 Companies Weight to the market index No. of free Company % of TASI float Shares (mn) Al Rajhi Bank 12.7% 1, Saudi Basic Industries Corp. 8.8% 3, Jabal Omar Development Co. 5.2% National Commercial Bank 5. 2, Samba Financial Group 3.3% 2, Saudi Telecom Co. 3.1% 2, Almarai Co. 3. 1, Saudi Arabian Mining Co. 2.9% 1, Banque Saudi Fransi 2.7% 1, Alinma Bank 2.6% 1, Riyad Bank 2.5% 3, Savola Group 2.5% Saudi Electricity Co. 2.3% 4, Jarir Marketing Co. 1.8% Saudi British Bank 1.8% 1, Source: Bloomberg, AlJazira Capital. Prices as of 19 November Least 15 Companies Ratio of free to issued shares Company Issued Shares (mn) Free float (mn) F/I (%) Kingdom Holding Co Saudi Telecom Co % Saudi Electricity Company % National Petrochemical Co % Saudi Basic Industries Corp Rabigh Refining and Petrochemical % Alawwal Bank % Middle East Healthcare Co % Saudi Ground Services Co % Al Hammadi Co % L Azurde For Jewelry Co Aljazira Takaful Taawuni Co Zahrat Al Waha Taleem RIET Al Alamiya Cooperative Co Source: Bloomberg, AlJazira Capital. Prices as of 19 November F/I refers to free to issued shares Al Rajhi Bank, at 12.7%, has the highest share of the Saudi market, followed by Saudi Basic Industries Corp (8.8%), and Jabal Omar Development Co (5.2%). These three companies account for more than 26.7% of the market index. The most influential stocks in the Saudi market are from the Banking. Kingdom Holding Co. has the lowest ratio of free-to-issued shares, with just 5. of the shares issued being traded in the market. According to the data, four companies have less than 20. of free floats. 2

3 Best 15 Companies Return on Equity (ROE) Best15 Companies Return on Assets (ROA) Company YTD % ROE (%) Jarir Marketing Co. 21.8% % Saudi Airlines Catering Co % Buruj Cooperative Insurance Co. 21.5% % Al-Rajhi Company for Insurance 54.8% % Arabian Shield Insurance Co. 1.6% % Abdullah Al Othaim Markets Co. 22.9% % Zahrat Al Waha for Trading Co. -3.1% % Herfy Food Services Co % % Salama Insurance Co. 80.9% % Saudi Company for Hardware % Advanced Petrochemical Co. -2.6% % The Company for Insurance 4.5% % Saudi United Insurance Co. 23.5% Saudia Dairy and Foodstuff Co. -1.2% % Mouwasat Medical Services Co. 7.6% % Source: Bloomberg, AlJazira Capital. Prices as of 19 November Company YTD % ROA (%) Jarir Marketing Co. 21.8% % Saudi Airlines Catering Co % % Saudia Dairy and Foodstuff Co. -1.2% % Advanced Petrochemical Co. -2.6% % Herfy Food Services Co % % Qassim Cement Co % Mouwasat Medical Services Co. 7.6% % Saudi Cement Co % % Saudi Ground Services Co % % Saudi Arabia Fertilizers Co % % Saudi Company for Hardware % Dallah Healthcare Co. 4.9% % Middle East Healthcare Co % % National Gas and Industrialization Co % % Zahrat Al Waha for Trading Co. 3.1% % Source: Bloomberg, AlJazira Capital. Prices as of 19 November Jarir Marketing Co. has the highest return on equity (RoE) at 52.1% on a basis, followed by Saudi Airlines Catering Co. at 37.. The top 6 companies have RoE of over 26.. Jarir Marketing Co. and Saudi Airlines Catering Co. registered the highest return on assets (RoA) in the Saudi market at 29.8% and24.9% on a basis, followed by Saudia Dairy and Foodstuff Co. at 17.2%. The top 4 companies have RoA of over 16. Total net profit for listed companies 40, % 18.8% , % 30. (SAR Mn) 20, % , Q2015/2016 1Q2016/2017 2Q2016/2017 /2017 Earnings (Prior Year ) Earnings (Current Year ) % (RHS) Source: Bloomberg, AlJazira Capital The overall net earnings of the companies listed on the TASI increased 18.8% to SAR 32.94bn in from SAR 28.94bn in. Banks and Materials accounted for 61. of total earnings. SABIC, Saudi Electrcity, and Saudi Telecom Company were major growth drivers, accounting for 17.6%,16., and 8. share of earnings, respectively, in. 3

4 Sectors Performance Sector Change Sector profit to Total Energy % 2.38% Materials 7, , % Capital Goods % 0.0 Commercial & Professional Svc % 0.38% Transportation % 0.87% Consumer Durables & Apparel % -0.16% Consumer Services % 0.71% Media % 0.08% Retailing % 0.8 Food & Staples Retailing % Food & Beverages , % 4.83% Health Care Equipment & Svc % 0.89% Pharma, Biotech & Life Science % 0.02% Banks 9, , % 34.53% Diversified Financials % 0.79% Insurance % 2.3 Telecommunication Services 1, , % 7.35% Utilities 4, , % 16.09% Real Estate Mgmt & Dev't % 1.21% Total Saudi Market 27, , % % YTD YTD TASI Index Performance YTD 2017 Sector Performance Banks Capital Goods Comm & Prof Svc Consumer Svc Cons Dura & App Diversified Fin Energy Food & Beverages Food & Stapl Ret HC Equip & Svc Insurance Media Materials Phar, Bio & LS Retailing RE Mgmt & Dev Transportation Tel Svc Utilities hh The Saudi market s net profit increased 18.8% to SAR 32.9bn in from SAR27.7bn in. hh The market s weighted-average earnings per share () in stood at SAR hh Index heavyweights Banks and Materials contributed the most to total earnings (34.5% and 26.5%, respectively), while Consumer Durables & Apparel contributed the least. hh Energy sector was the best performer in the Saudi market, with a 545.2% increase in net profit at SAR mn in, compared with a net profit of SAR121.7mn in. hh In, 9 sectors witnessed decline, while 10 sectors registered increase in profit. The combined profit after tax (PAT) of the 19 sectors increased 18.8%, led by higher weightage of the Banks and Materials. 4

5 Energy Sector Change D/Y (%)* Saudi Arabia Refineries % Rabigh Refining National Shipping % Aldrees % Total % % * Trailing 12 months () % YTD Energy Sector YTD 2017 Energy Sector earnings of Saudi Arabia s Energy sector increased to SAR784.8mn in compared to SAR121.7mn in. The sector s stood at SAR 0.59 per share. hh National Shipping Company of Saudi Arabia was the worst performer during the quarter, dropping 80.8% in RABIGH REFINING -3-4 NATIONAL SHIPPIN ALDREES PETROLEU SAUDI ARABIA REF 5

6 Materials Sector D/Y (%)* Sahara Petrochemical % Yanbu National Petro % Saudi Basic Industries % Advanced Petrochemical Alujain Corporation % National Petrochemical % National Industrialization % Saudi Industrial Investment Group % Saudi Arabia Fertilizers % Saudi International Petrochemical Saudi Kayan % Methanol Chemicals % Nama Chemicals % Southern Province % Saudi Cement % Hail Cement % City Cement % Arabian Cement % Al Jouf Cement % Tabuk Cement Northern Region % Qassim Cement % Yanbu Cement % Yamamah Cement % Eastern Province Najran Cement Umm Al-Qura Cement Takween Advanced Middle East Paper % Basic Chemical % Saudi Arabian Mining % United Wire Factories % Al Yamamah Steel ** % Saudi Steel Pipe National Gypsum The National Glass % FIPCO % Arabian Pipes % MAADANIYAH Zamil Industrial % Saudi Paper % Zahrat Al Waha % #N/A Total 7, , % SABIC MAADEN YANSAB SAFCO Kayan APPC TASNEE SIIG Saudi Cement Sahara Petrochemical SPICHEM Yanbu Cement Yamama Cement Arabian Cement Southern Cement Qassim Cement Eastern Cement Northern Cement Alujain Corp PETROCHEM Zamil Industrial Najran Cement City Cement Al Jouf Cement Hail Cement Chemanol ASLAK Tabuk Cement Takween Arabian Pipes Zoujaj UMM AL-QURA Basic Chemical Industries Nama Chemicals Middle East Paper Maadaniyah FIPCO Al Yamamah Steel Saudi Paper Manufacturing National Gypsum Saudi Steel Pipe -5. YTD Materials Sector % YTD 2017 Materials Sector * Trailing 12 months (), * * 4Q Ending in September 30 th The net profit of Saudi Arabia s Materials sector increased 15. to SAR8.7bn in from SAR7.6bn in. Index heavyweight Saudi Basic Industries Corp recorded an increase of 10.7%. Saudi Arabia Fertilizers Company reported an increase of 1.2%. The sector s stood at SAR0.73 per share. hh All cement companies in this sector registered a decline in profit expect for Umm AlQura which recorded net income of SAR 5.1mn. Najran Cement Company recorded a loss of SAR17.1mn, while Tabuk Cement loss was at SAR12.2mn. 6

7 Capital Goods Sector D/Y (%)* Bawan Company % Astra Industrial Group ALKHODARI Saudi Ceramic Co % Saudi Cable Company Al-Ahsa Development % Saudi Arabian Amiantit Al-Babtain % Saudi vitrified clay Pipes % Middle East Specialized Cables % Saudi Industrial Export Electric Industries % Total % AL BABTAIN POWER SAUDI CERAMIC CO Saudi Arabian Amiantit ASTRA INDUSTRIAL -23. YTD Capital Goods Sector YTD 2017 Capital Goods Sector Al-Ahsa Development Co MIDDLE EAST SPEC BAWAN CO SAUDI VITRIFIED SAUDI CABLE CO SAUDI INDUS EXPO ELECTRICAL INDUS ABDULLAH A.M. AL earnings of Saudi Arabia s Capital Goods sector stood at SAR1.4mn during compared to SAR89.8mn loss. Middle East Specialized Cables decreased the most 95.7% decline and stood at SAR0.2mn compared to SAR3.9mn in. 7

8 Commercial & Professional Svc Sector D/Y (%)* Saudi Printing and Packaging % Saudi Airlines Catering % % YTD Total % % Commercial & Professional Services Sector YTD 2017 Commercial & Professional Svc Sector Saudi Arabia s Commericial & Professional Services sector recorded a 1.5% decline in net profit of SAR125.8mn in, as compared to net profit of SAR127.7mn in. -5% -1-15% The sector s for the quarter stood at SAR 0.89 per share % -3 Saudi Airlines Catering Saudi Printing and Packaging Co. Transportation Sector Change % D/Y (%)* Saudi Ground Services % Saudi Public Transport % United International Transportation % Saudi Industrial Services % Batic Investments and Logistics % Total % % % YTD Transport Sector YTD 2017 Transportation Sector The Transportation sector s net profit declined 17.6% to SAR286.7mn in from SAR347.9mn in. The sector s stood at SAR 0.59 per share. Saudi Industrial Services showed a decrease of 63.7%, while Batic Investments and Logistics showed an increase of 102.2%. -5% -1-15% -2-25% -3-35% -4 SAPTCO BUDGET Batic SISCO -45% SGS 8

9 Consumer Durables & Apparel Sector D/Y(%)* Al Sorayai Trading Group % Saudi Industrial Dev % AlAbdullatif Industrial Co Lazurde Co % Fitaihi Holding Group Total % % % YTD Consumer Durables & Apparel Sector YTD 2017 Consumer Durables & Apparel Sector Saudi Arabia s Consumer Durables & Apparel sector s showed a loss of SAR 53.6mn in compared to a net loss of SAR 9.8mn in. The sector s stood at SAR per share. The sector s net loss was supported by Al Sorayai Trading Group and Fitaihi Holding Group which registered a loss of SAR 49.5mn and SAR 4.6mn, respectively, during SIDC ALABDULLATIF FITAIHI HOLDING ALSORAYAI GROUP L'AZURDE CO FOR Consumer Services Sector D/Y(%)* Dur Hospitality Co % Al-Tayyar Travel Group % Tourism Enterprise Co Herfy Food Services % Alkhaleej Co % Abdulmohsen Alhokair % Total % % % YTD Consumer Services Sector YTD 2017 Consumer Services Sector The net earnings of Saudi Arabia s Consumer Services sector declined 33.8% to SAR 233.0mn in from SAR 352.0mn in. The sector s was SAR 0.49 per share. The sector s earnings were impacted by Abdulmohsen Alhokair net profit, which fell 83.9% to SAR9.0mn during AL TAYYAR TRAVEL HERFY FOOD SERVI ABDUL MOHSEN AL DUR HOSPITALITY AL KHALEEJ TRAIN SHAMS 9

10 Media Sector D/Y (%)* Saudi Research Tihama Adv. & PR* Total % YTD * 4Q Ending March 2017 Media Sector Saudi Arabia s Media sector recorded a net profit of SAR27.7mn in, as compared to a loss of SAR 103.3mn in. The sector s for the quarter stood at SAR 0.32 per share. YTD 2017 Media Sector SAUDI RESEARCH -4-6 TIHAMA Retailing Sector D/Y (%)* Shaker Co Extra Saudi Co. for Hardware % Saudi Automotive % Jarir Marketing Co % Fawaz AlHokair Co.* % % YTD Retailing Sector Total % % YTD 2017 Retailing Sector * 2Q ending September Saudi Arabia s Retailing sector recorded a net profit of SAR262.2mn in. The sector s stood at SAR 0.54 per share. 6 3 Jarir Marketing Company dominated the sector earnings, the net profit was up 13.1% to SAR 246.5mn in. In addition, United Electronics Co. registered net profit of SAR26.1mn compared to SAR 6.2mn in JARIR MARKETING Hokair Saudi Company for Hardware United Electronics SASCO Shaker Co. 10

11 Food & Staples Retailing Sector D/Y(%)* Abdullah Al Othaim % Saudi Marketing Co % Anaam International % National Agriculture % Total % % YTD Food & Staples Retailing Sector % YTD 2017 Food & Staples Retailing Sector 3 2 earnings of Saudi Arabia s Food & Staples sector increased by 164. to SAR mn in from SAR57.9mn in. The sector s stood at SAR1.28 per share. Abdullah Al Othaim Co. was the best performer during the quarter, reporting a net profit of SAR150.6mn in Abdullah Al Othaim Saudi Marketing Thimar Anaam Food & Beverages Sector Change % D/Y(%)* Qassim Agriculture Co % Saudia Dairy and Foodstuff Co.* % Wafrah for Industry % Halwani Bros % Almarai Company % Al-Jouf Agriculture % NADEC % Jazan Development % Savola Group % Sharqiya Dev Co % Tabuk Agriculture % Saudi Fisheries Co % Total , % %, * 4Q Ending in March 2017 Saudi Arabia s Food & Beverages sector recorded a net profit of SAR1.59bn in compared to SAR980.5mn in. The sector s stood at SAR 0.95 per share. The sector s increase in earnings was due to an increase in the net profit of index heavyweights Savola Group (up 361.8%) and Almarai Company (up 0.4% ). National Agricultural Development Co. declined 39.5% to SAR 17.3mn compared to SAR28.7mn in ALMARAI CO SAVOLA NATIONAL AGRICUL SADAFCO -2.7% YTD Food & Beverages Sector % YTD 2017 Food & Beverages Sector JAZAN DEVELOPMEN HALWANI BROS CO AL JOUF TABUK AGRICULTUR WAFRAH FOR INDUS AL QASSIM AGRICU Ash-Sharqiyah SAUDI FISHERIES 11

12 Health Care Equipment & Svc Sector The Health Care Equipment & Services sector s net profit increased 5.6% to SAR 291.9mn in compared to SAR 276.5mn in. The sector s stood at SAR 0.68 per share. Middle East Healthcare Company s profit (down 39.8% ) declined the most. While Saudi Chemical increased the most (up 51.2%). D/Y (%)* Dallah Healthcare % National Medical Care Mouwasat Medical % Middle East Healthcare % Al Hammadi % Saudi Chemical % Total % % Source: Tadawul website, AlJazira Capital Health Care Equipment & Services Sector % YTD 2017 Health Care Equipment & Svc Sector 1 National Medical Care Mouwasat Dallah -1 Medical Healthcare % YTD AlHammadi Saudi Chemical Co Middle East Healthcare Pharma, Biotech & Life Scie. Sector D/Y (%)* Saudi Pharmaceutical % Total % % % YTD Pharma, Biotech & Life Science Sector % YTD 2017Pharma, Biotech & Life Science Sector Saudi Arabia s Pharma, Biotech & Life Science sector increased 9.3% to post a net profit of SAR8.2mn in compared to SAR 7.5mn in. The sector s stood at SAR 0.07 per share SAUDI PHARMACEUT 12

13 Banks Sector D/Y(%)* Alinma Bank % Al Rajhi Bank % NCB % Banque Saudi Fransi % Riyad Bank % Saudi British Bank % Alawwal Bank % Samba Financial % Arab National Bank % AlBilad Bank % Saudi Investment Bank % Bank AlJazira % Total 9, , % % Source: Tadawul website, AlJazira Capital AL RAJHI BANK NATIONAL COMM SAMBA 5.3% YTD % YTD 2017 Banks Sector BANQUE SAUDI FR ALINMA BANK Banks Sector RIYAD BANK SAUDI BRITISH BK ARAB NATL BANK SAUDI INVESTMENT BANK ALBILAD BANK AL JAZIRA ALAWWAL BANK The Banking sector s net profit increased 14.3% to SAR11.4bn in. The sector s stood at SAR0.68 per share. Alinma Bank registered the highest growth of 73.9% while Samba Financial Group showed the worst performance with a decline of 2.5% during. 13

14 Diversified Financials Sector % YTD D/Y (%)* Saudi Adv. Ind. Co % AlBaha Kingdom Holding Co Aseer Trading Co Total % Diversified Financials Sector % YTD 2017 Diversified Financials Sector Saudi Arabia s Diversified Financials sector recorded a net profit of SAR261.5mn in compared to a loss of SAR400.5mn in. The sector s stood at SAR 0.07 per share in. -15% -3-45% Kingdom Holding Aseer Trading Tourism Saudi Advanced Industries Al-Baha Development 14

15 Insurance Sector Before Zakat Before Zakat D/Y (%)* Saudi Indian Co Al Sagr Co-op Ins % Arabia Insurance Co Arabian Shield Co-op % Saudi Arabian Co-op % United Cooperative Buruj Insurance Co % Al-Rajhi Company % Salama Cooperative % CHUBB Arabia Co % Allied Insurance Co % Al Alamiya % Solidarity Saudi % Aljazira Takaful % AXA Cooperative % Tawuniya Insurance Co % Allianz Saudi Fransi % Alahli Takaful Co % Bupa Arabia % SABB Takaful % Trade Union Co-op Ins % Amana Cooperative % Gulf General Co-op % Wataniya Insurance % The Mediterranean Co % Malath Co-op Ins % Saudi Re Co Al-Ahlia Insurance Co Saudi Enaya Alinma Tokio Marine % Gulf Union Co-op Ins Walaa Insurance Co MetLife AIG ANB Co % Total % % TAWUNIYA Bupa Arabia Walaa Al Rajhi Takaful Arabian Shield Saudi Re Buruj UCA MEDGULF Al Sagr AXA Trade Union Al Alamiya Salama Saudi Arabian Solidarity Takaful SABB Takaful Alinma Tokio Marine Alahli Takaful Co AlJazira Takaful Amana Arabia Insurance Cooperative Wataniya Saudi Enaya Chubb Arabia Allianz SF Malath WAFA Gulf General METLIFE Gulf Union Allied Cooperative Al-Ahlia -6.8% YTD Insurance Sector % YTD 2017 Insurance Sector The Insurance sector s net profit decreased 15.4% to SAR 756.7mn in from SAR 894.3mn in. The sector s stood at SAR 0.67 per share during the quarter. Sector heavyweights, Bupa Arabia for Cooperative Insurance s net profit (before zakat) decreased 16.7% to SAR217.0mn in from SAR 260.4mn in. The Company for Cooperative Insurance (TAWUNIYA) reported a net profit of SAR159.7mn in compared to SAR 260.4mn in. In terms of gain in net profit,malath Co-op Insurance (up 730.9% ), Buruj Cooperative Insurance Co. (up 180.6% ), and Salama Cooperative (up 152.1% ), were the best performers. 15

16 Telecommunication Sector D/Y(%)* Saudi Telecom % Mobile Telecomm Co Etihad Atheeb Telecom* Etihad Etisalat Co % Total 1, , % % *4Q Ending March 2017 earnings of Saudi Arabia s Telecommunication Services sector surged 34.5% to SAR2.4bn in from SAR 1.8bn in. The sector s stood at SAR 0.71 per share. Saudi Telecom Co. recorded net income of SAR2.6bn during % YTD 2017 Telecommunication Sector Saudi Telecom Co -17.3% YTD Telecommunication Services Sector Etihad Etisalat Co Mobile Telecommunications Co Saudi Arabi Etihad Atheeb Telecommunication Co Utilities Sector D/Y (%)* National Gas & Industrialization Co % Saudi Electricity Co % Total 4, , % % Source: Tadawul website, AlJazira Capital % YTD Utilities Sector Saudi Arabia s Utilities sector recorded net income of SAR5.3bn in compared to SAR4.9bn in. The sector s stood at SAR 1.25 per share. % YTD 2017 Utilities Sector 1 5% -5% SAUDI ELECTRICIT -1-15% -2 National Gas & Industrialization Co 16

17 Real Estate Mgmt & Dev t Sector D/Y (%)* Arriyadh Development Emaar % Taiba Holding Co % Alandalus Property Co % Dar Alarkan % Saudi Real Estate Co % Makkah Construction* % Jabal Omar* Red Sea Housing Knowledge Economic % Total % %, * Hijri Calender Jabal Omar % YTD 2017 Real Estate Mgmt & Dev t Sector Makkah Construction Dar Al Arkan -18.9% YTD Real Estate Mgmt & Dev't Sector Emaar Taiba Holding Arriyadh Dev. Knowledge Alandalus Property SRECO Red Sea Intl. The net profit of Saudi Arabia s Real Estate Mgmt & Dev t sector decreased 26.6% to SAR 399.2mn in from SAR 543.5mn in. The sector s for the quarter was at SAR 0.10 per share. Knowledge Economic City (down 243.1% ), Emaar Company (down 60.9% ) and Saudi Real Estate Co. (down 43.1% ) led the decrease in the sector s net profit during. 17

18 RESEARCH DIVISION Acting Head of Research Talha Nazar Analyst Waleed Al-jubayr Analyst Sultan Al Kadi, CAIA Analyst Muhanad Al-Odan Analyst Jassim Al-Jubran BROKERAGE AND INVESTMENT CENTERS DIVISION General Manager Brokerage Services & sales Alaa Al-Yousef AGM-Head of Sales And Investment Centers Central Region Sultan Ibrahim AL-Mutawa AGM-Head of international and institutional brokerage Luay Jawad Al-Motawa AGM-Head of Qassim & Eastern Province Abdullah Al-Rahit AGM- Head of Western and Southern Region Investment Centers Mansour Hamad Al-shuaibi RESEARCH DIVISION AlJazira Capital, the investment arm of Bank AlJazira, is a Shariaa Compliant Saudi Closed Joint Stock company and operating under the regulatory supervision of the Capital Market Authority. AlJazira Capital is licensed to conduct securities business in all securities business as authorized by CMA, including dealing, managing, arranging, advisory, and custody. 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