Mohamed Tomalieh

SNB Capital

Associate, Equity Research Analyst @ SNB Capital

Mohamed has more than six years’ experience in the investment banking industry, split between Saudi Arabia and the US. He covers 17 stocks in the retail, food, cement and real estate development areas. Mohamed frequently publishes reports on covered sectors and the overall market, plus thematic reports on major events, and advises institutional investors on his sectors and key market themes. 

Mohamed Tomalieh
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Latest from Mohamed Tomalieh

Saudi Cement Company: Strong Q4 19 results on higher volumes and lower cost/ton

Saudi Cement reported a better-than-expected set of Q4 19 results. This is higher than the NCBC and consensus estimates of SAR97mn and SAR115mn respectively. The blended selling prices came in-line with our estimates. Sales increased +32.5% yoy to SA...
SNB Capital
Mohamed
Mohamed Tomalieh @ SNB Capital 4 March 2020

Alhokair: Q4 19 - Margin expansion and positive LFL support results

Al Hokair reported a strong set of CYQ4 19 results, with net income increasing +29.7% yoy to SAR34.4mn. However, adjusting for one-off gains of SAR44mn from the sale of its stake in Riyadh Gallery, net loss stood at SAR9.6mn in CYQ4 19 vs a net profi...
SNB Capital
Mohamed
Mohamed Tomalieh @ SNB Capital 12 February 2020

Al Othaim: Q4 19 review: Store expansions offset negative LFL growth

Al Othaim reported a broadly in-line set of Q4 19 results,with net income increasing +33.0% yoy to SAR142.2mn in Q4 19 vs our estimates of SAR133.6mn. Revenues increased +8.1% yoy to SAR2.1bn, coming in-line with our estimates. This is the highest Q4...
SNB Capital
Mohamed
Mohamed Tomalieh @ SNB Capital 10 February 2020

Jarir: Revenue growth offset by higher opex

Jarir announced a broadly in-line set of Q4 19 results, with net income declining 4.6% yoy to SAR277mn vs our estimates of SAR298mn and consensus estimates of SAR292mn. We believe the variance was mainly due to higher than expected opex due to higher...
SNB Capital
Mohamed
Mohamed Tomalieh @ SNB Capital 30 January 2020

Savola: Margin expansion and lower opex support results

Savola reported a broadly in-line set of Q4 19 results,with a net income of SAR137mn vs net loss of SAR526mn in Q4 18 (adj. This compares to the NCBC and consensus estimates of SAR121mn and SAR130mn, respectively. We believe the key positive from the...
SNB Capital
Mohamed
Mohamed Tomalieh @ SNB Capital 30 January 2020

Jarir: Store expansions and consolidation support growth

Store expansion and consolidation trends to drive growth:Jarir opened two new stores in 2019 (excl. Jeddah airport branch), taking its total store count to 58. We expect Jarir to continue at this pace of expansion, with an average opening of two stor...
SNB Capital
Mohamed
Mohamed Tomalieh @ SNB Capital 28 January 2020

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Mohamed Tomalieh
MENA
Saudi Arabia
Equity
Materials
NCBC
Saudi
Consumer Discretionary
2019
Retailing
Q3
Food & Staples Retailing
Consumer Staples
2018