Budget Saudi CEO says AutoWorld takeover showing results, fleet size exceeds 50,000

The CEO added that the growth in fleet size had a significant impact on the improvement in financial performance, as the rental segment and higher occupancy contributed positively to the increase in income and profits.

Danish also indicated that the size of the leasing fleet exceeds 70% of the group's total fleet, while the rental segment represents the remaining percentage.

He revealed that the size of the group's fleet exceeded 50,000 vehicles by the end of 2024, including cars, trucks and vans, making Budget Saudi the largest car rental company offering various transportation solutions that cater to the needs of its customers.

"Customers rely on these solutions to support the growth of their business. The company is constantly seeking to grow in its field of specialization and secure its share in the Saudi market, which is growing continuously. There is no doubt that the Kingdom's economy and its future drive to greater growth and increased market share," said Danish.

Regarding the company's investments, he explained that Budget Saudi's investment in the Overseas Development LLC came to seize growth opportunities in the logistics sector, which is witnessing a boom in the Kingdom, as it is one of the main pillars of Vision 2030 to diversify sources of income, adding that this sector receives great support from the government.

He added that the company aims to expand in the logistics sector going forward, noting that the subsidiary's revenues boosted its revenues for 2024.

Budget Saudi reported a net profit before minority interest of SAR 311.7 million for 2024, a 12% increase from SAR 277.2 million a year earlier. Q4 net profit stood at SAR 100.1 million, Argaam's data showed.