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The PEX records average PE of 29.5x and average P/BV of 0.72x in 9M 2024

2024-12-05

Sahem weekly trading report (01-05)-12-2024

In this week, Al-Quds Index recorded an increase of 0.57% than the previous week, to close at the level of 4.77.97 points. This came amid relatively weak trading that lacks any momentum and the institutional transactions that may raise the trading value in Palestine Stock Exchange PEX from time to time if we exclude the trading on the leading stock of Palestine Development and Investment Company PADICO which witnessed trading activity in this week. On the other hand, and with the disclosures’ completion of 46 companies out of 48 listed companies required to disclose their data for 9M 2024, the PEX records an average PE ratio of 29.5x and an average P/BV of 0.72x.

Regarding the data of the PEX’s sectors, the banking and financial services’ sector recorded loss of $4.83 million in 9M 2024. Whereby, 75% of the companies that disclosed their data in the sector recorded profits in 9M 2024, while two bank recorded losses in the mentioned period. According to the disclosed data, the average PE of the sector records zero; the lowest among all sectors, and average P/BV reached 0.35x; the lowest among all sectors. However, the sector’s profits attributable to the parent companies declined by 107.12%. While, Al-Quds Bank QUDS recorded the largest profits among the companies in the sector. In another context, the insurance sector contributed in 8.63% from total disclosed companies’ profits attributable to the parent companies. Where all companies in the sector recorded profits in 9M 2024. According to the disclosed data, the insurance sector records an average PE of 22.7x, and an average P/BV of 1.22x.

In the services sector, 78% of the sector’s companies disclosed their 9M 2024 financial results; where the services sector contributed by 54.76% from the total disclosed companies among all sectors in the PEX; the highest among all the sectors, while two company couldn’t disclose their data within the granted period. Where 57% of the disclosed companies in the sector achieved profits attributable to the parent companies in 9M 2024, whereas, 43% of the disclosed companies in the sector realized net losses in 9M 2024. Whereby, Palestine Telecommunications Company PALTEL’s profits contributed in 85.34% from the total sector’s profits attributable to the parent companies, in which declined in total by 22.96% compared to the corresponding period of last year. According to the disclosed data, the sector records average PE of 16.0x, and average P/BV of 2.05x; the highest among all sectors.

On the other hand, the investment sector’s profits attributable to the parent companies contributed in 22.48% from the total disclosed companies’ profits attributable to the parent companies. While, the investment sector’s profits attributable to the parent companies declined by 18.58% in 9M 2024. Where the sector records an average PE of 33.8x; the largest among all sectors, and average P/BV of 0.84x. Regarding the Industry sector, it witnessed a decline in the sector’s profits attributable to the parent companies by 32.03% in 9M 2024; constituting 19.26% from total sector’s profits attributable to the parent companies, whereby, Palestine Poultry Company AZIZA and the Vegetable Oil Industries Company VOIC achieved the highest profits, in which both contributed for 68.94% from total sector’s profits attributable to the parent companies. Accordingly, the Industry sector records an average PE of 17.4x, and average P/BV of 1.02x.