Geopolitical tensions may drive pent-up demand: eXtra CEO

Ali Mansour, CEO at eXtra, says the company managed to maintain stellar performance despite challenges

Markets witnessed geopolitical escalation that affected consumer behavior, with many opting to delay purchase decisions, potentially leading to the buildup of pent-up demand in the coming periods, Ali Mansour, Chief Executive Officer at United Electronics Co. (eXtra), told Argaam.

“This was similar to what occurred during the COVID-19 pandemic,” he added.

eXtra maintained a stellar performance despite challenges, thanks to a flexible strategy, a solid financial position and healthy inventory levels that contributed to supply chain stability.

The company achieved continued operating growth in Q1 2026, driven by a strong business model and its ability to deliver sustainable growth amid the global headwinds. Mansour remained confident about the resilience of the Saudi economy and eXtra’s ability to sustain long-term growth.

E-commerce sales grew by 15.3% year-on-year (YoY), accounting for approximately 22.7% of total sales, supporting retail revenue growth of 3.6% YoY, the CEO said.

Additionally, the consumer finance segment delivered positive performance, with revenue rising 17.5% YoY, driven by a 21% increase in the financing portfolio, reflecting an expanding customer base.

eXtra reported a 10% increase in net profit to SAR 94.7 million in Q1 2026, compared to SAR 86.1 million in the year-earlier period, data compiled by Argaam showed.