Wednesday, July 5, 2017

The 7 Largest Saudi Arabian Companies Generated Total Earnings in 2016 Which Were Down 1% From That in 2015

From a review of the fine Google Financial website and of company earnings statements at Company websites, I found 7 Saudi Companies with stock market caps now above 50 Bil Saudi Arabian Riyal (SRs).

One of these eight Saudi Companies did not disclose its financial statements in English at its company website.

All of these Saudi Companies prepared their financial statements in accordance with generally accepted accounting standards in the Kingdom of Saudi Arabia and received unqualified opinions from one of the prestigious Big 4 CPA firms.

Below here is Net Income for the two most recent years for each of these 7 Saudi Companies:

2016 2015

Most Audited Audited

Recent Net Net
Largest Saudia Arabian Companies 2016 Income Income Increase
Reporting in Saudi Arabian Riyal (SRs) FYE (Loss) (Loss) (Decrease)

 mil SRs   mil SRs   % 

Saudi Basic Industries Corporation Dec        17,839        18,769 -5%
National Commercial Bank Dec          9,416          9,148 3%
Saudi Telecom Company Dec          8,758          9,789 -11%
Al Rajhi Banking & Investment Corp Dec          8,126          7,130 14%
Saudi Electricity Company Dec          2,105          1,544 36%
Almarai Co Dec          2,083          1,799 16%
Saudi Arabian Mining Company Dec             401             808 -50%

Total all 7
       48,728        48,987 -1%