The United International Transportation Company (Budget Saudi) announces its Interim Financial Results for the Period Ending on 31-03-2026 (Three Months)

07/05/2026 Tadawul

 

Element List Current Period Similar period for previous year %Change
Total Shareholders Equity (after Deducting Minority Equity) 2,976,471 2,780,032 7.066
Profit (Loss) per Share 0.33 0.79
All figures are in (Thousands) Saudi Arabia, Riyals


 

Element List Amount Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value - -
Accumulated Losses - -
All figures are in (Thousands) Saudi Arabia, Riyals


 

Element List Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The reason of the slight increase in revenue during the current quarter compared to the same quarter of the previous year is attributed to a limited improvement in the performance of the long-term rental, logistics services, and vehicle sales segments. However, this increase does not constitute substantial growth, as revenues continued to face pressure due to geopolitical tensions in the region.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The decrease in net profit during the current quarter compared to the same quarter of the previous year is attributed to an increase in depreciation expenses and lower utilization rates in short-term rental due to prevailing regional conditions, in addition to a rise in total loss cases of vehicles and higher insurance costs, as well as an increase in accounts receivable provisions. Profitability was also impacted by limited revenue growth compared to rising operating expenses, despite an improvement in cash flows from operating activities.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The reason of the decrease in the revenue during the current quarter compared to the previous quarter is attributed to a notable decrease in short-term rental utilization rates, despite the fleet size remaining relatively stable at similar levels, due to the impact of prevailing regional conditions. Used vehicle sales also decrease in terms of quantities sold and average selling prices. In contrast, long-term rental revenues remained stable, while logistics services revenues decreased compared to the previous quarter. Overall, this decrease in revenue occurred while direct costs and fleet size remained at comparable levels, which negatively impacted overall performance.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The reason of the decrease in the net profit during the current quarter compared to the previous quarter is attributed to an increase in depreciation expenses and lower short-term rental utilization rates, in addition to a rise in total loss cases of vehicles and higher insurance costs. Profitability was also affected by a decrease in revenues on one hand, compared to an increase in certain operating expenses on the other, which led to increased pressure on net profit.
Statement of the type of external auditor's report Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) There are no comments or qualifications mentioned in the external auditor’s report.
Reclassification of Comparison Items Certain comparative figures have been reclassified to conform with the current period presentation.
Additional Information -
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Saudi Arabia (Tadawul)

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