eXtra’s consumer financing portfolio expands to SAR 3B: CEO

Managing Director and CEO Mohamed Galal sees that the growth in financing portfolio reflects customers’ increasing confidence in eXtra’s Shariah-compliant financing products

United Electronics Co.’s (eXtra) Q3 2025 results, which indicated growth in the TASI-listed company’s consumer financing portfolio to SAR 3 billion for the first time ever, underscored the success of its income diversification strategy, Managing Director and CEO Mohamed Galal told Argaam.

Galal indicated that eXtra’s consumer financing portfolio grew by about 29% year-on-year (YoY) in Q3 2025, reflecting the customers’ increasing confidence in eXtra’s Shariah-compliant financing products. It also reinforces the growing role of consumer finance as one of the key pillars of the company’s sustainable growth strategy.

Moreover, during the same quarter, eXtra’s revenues advanced by 12% YoY, cementing on the company’s strategic focus on delivering an outstanding customer experience across all sales channels — whether through its showrooms, digital platforms, or “Clix” channels.

Additionally, major marketing campaigns, such as the National Day and back-to-school season, lifted the company’s three-month performance. This is in addition to the expansion of subscribers in the paid loyalty program “Jood.”

The company also saw an improvement in its third-quarter gross profit margin to 25.2%, which drove an increase in its gross profit, according to the top executive.

He further pointed out that eXtra’s Q3 2025 net profit grew by 7% on a yearly basis. Excluding the impact of the reversal of a SAR 16.3 million provision that had been recognized in the same quarter last year, the adjusted net profit growth reached 19.4%.

The CEO also affirmed that eXtra continues to invest in digital transformation and operational efficiency, thus strengthening its position as the top electronics and integrated financing solutions platform in the Kingdom.

According to Argaam data, eXtra reported a net profit of SAR 335 million (excluding minority interest) for the first nine months of 2025, down from SAR 356.8 million a year earlier. The third-quarter net earnings fell 8.7% to SAR 143 million, compared with SAR 156.3 million a year earlier.