Executive Summary - Al Rajhi Capital - Ø§Ù„Ø±Ø§Ø¬ØÙŠ Ø§Ù„Ù…Ø§Ù„ÙŠÙ‡

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Insurance Some of the listed insurance companies did not disclose their financial results for the third quarter, whereas others have no comparable data as they were recently established and listed. Out of 25 listed companies, only 15 companies announced their quarterly results .These companies showed sharp increases in earnings, with aggregate Q3 net profit increasing more than 12 times yearon-year, bringing the sector’s total net profits to SR 132.3 million compared to SR 10.8 million. This in turn led to improvement in the sector’s nine months net profits which jumped by over 200%, to SR 190 million against SR 61.7 million in 2008. The big jump in the sector’s profits can be attributed to Tawuniya Co. (NCCI}, the biggest listed company in this sector and the first to be licensed to carryon the insurance business in the Kingdom, whose profits leaped by about 275% yearon-year in the third quarter and by more than 91% for the nine months period, due to the big improvement in the investment returns. In addition, some of the newly established companies have reported some growth in their quarterly profits as they started achieving operating revenues after launching their business. For instance, Malath, Medgulf, Salama and Arabian Shield were able to grew by varying degrees. On the other hand, other insurance companies, such as the Saudi Indian Ins. Co., Gulf Union and <strong>Al</strong>-Ahlia, incurred losses due to a rise in the pre-operating expenses
Company Q3 (Net Profit, SAR) % 9months (Net Profit, SAR) % EPS(9months) 2008 2009 2008 2009 2008 2009 NCCI 33,496,000 125,582,000 274.9% 101,856,000 194,845,000 91.3% 2.04 3.9 MALATH )7,785,000) 1,005,000 - )13,170,000) 5,441,000 - )0.44) 0.18 MEDGULF 3,295,000 36,284,000 100.2% 9,399,000 87,684,000 832.9% 0.12 1.1 ALLIANZ SF )2,638,000) )3,251,000) -23.2% )12,220,000) )11,705,000) -4.2% )1.22) )1.17) SALAMA )786,000) 4,582,000 - 11,468,000 9,622,000 -16.1% 1.14 0.96 WALAA INS )540,000) )2,309,000) -327.6% )2,111,000) )11,714,000) -454.9% )0.11) )0.59) ARABIAN SHIELD 1,542,000 2,389,000 54.9% 4,437,000 6,470,000 45.8% 0.22 0.32 SABB TAKAFUL 368,000 )2,674,000) - )4,923,000) )13,442,000) -173.0% )0.23) )61) SANAD )4,123,803) )3,744,863) -9.2% )8,230,147) )11,471,887) -39.4% )0.49) )0.60) SAICO )1,804,000) )3,429,000) -90.1% )3,557,000) )7,421,000) -108.6% )0.36) )0.74) SAUDI INDIAN )2,530,000) )5,192,000) -105.2% )4,510,000) )15,817,000) -250.7% )0.45) )1.60) GULF UNION 963,000 )560,000) - 1,300,000 )1,115,000) - 0.06 )0.05) ALAHLI TAKAFUL )1,999,000) )1,599,000) -20.0% )4,870,000) )2,548,000) -47.7% )0.49) )0.25) AL AHLIA )979,000) )9,603,000) -880.9% )2,677,000) )21,222,000) -692.8% )0.27) )2.12) ACIG )5,651,000) )5,175,000) -8.4% )10,462,000) )17,555,000) -67.8% )1.05) )1.76) Sector 10,828,197 132,305,137 1121.9% 61,729,853 190,051,113 207.9% - -
Page 1: www.alrajhi-capital.com Third Quart
Page 4 and 5: Executive Summary The financial res
Page 6 and 7: Banks & Financial Services Notwiths
Page 8 and 9: Company Assets % Deposits % Loans 2
Page 10 and 11: Petrochemical Industries Despite th
Page 12 and 13: Cement The Cement sector is still a
Page 14 and 15: Retail The preliminary financial re
Page 16 and 17: Energy & Utilities The financial re
Page 18 and 19: Agriculture & Food Industries The p
Page 20 and 21: Telecommunication & Information Tec
Page 24 and 25: Multi- Investment The financial ann
Page 26 and 27: Industrial Investment The third qua
Page 28 and 29: Building & Construction The third q
Page 30 and 31: Real Estate Development The decline
Page 32 and 33: Transport The third quarter prelimi
Page 34 and 35: Media & Publishing The Media & Publ
Page 36 and 37: Hotel & Tourism The third quarter p
Page 38 and 39: Contact Details Hesham AL-Muhanna I

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