Budget Saudi focuses on margin recovery, rental profitability: CEO

Fawaz Danish, CEO of United International Transportation Co. (Budget Saudi)

Fawaz Danish, CEO of United International Transportation Co. (Budget Saudi), said the group aims to boost the profitability of its long- and short-term rental operations by optimizing fleet utilization, maintaining pricing discipline, and effectively managing vehicle lifecycles.

In the company's earnings release, he said Budget Saudi will continue implementing its growth initiatives, particularly through subsidiary Taj Co. and its integrated logistics services platform, including WAFI, its short-term rental and car subscription service, supporting long-term business diversification.

The group's priorities for Q4 2026 include restoring margin levels, maintaining financial discipline, and capitalizing on sustainable growth opportunities, he added.

Danish noted that the group continued to record revenue growth in the first nine months of 2026, supported by diversified operations and changes in its business mix.

Despite revenue growth, net profit fell 19.3% to SAR 197 million, mainly due to gross margin pressure from changes in the revenue mix and weaker performance in the short-term rental business.

Cash flow from operating activities improved to SAR 229.7 million in 9M 2026, compared with SAR 50.5 million in the same period of 2025, he added.

Budget Saudi reported a net profit of SAR 199.59 million in 9M 2026, down from SAR 248.66 million in the same period of 2025, while third-quarter profit fell 11% year-on-year (YoY) to SAR 71.75 million, according to Argaam’s data.