Financial Results : Theeb’s profit rises 12% to SAR 45.4M in Q1 2025

Theeb’s profit rises 12% to SAR 45.4M in Q1 2025

13/05/2025 Argaam Exclusive

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Theeb Rent a Car Co. (Theeb) reported a 12% increase in its Q1 2025 net profit to SAR 45.4 million, compared to SAR 40.5 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 306.57 336.68 9.8 %
Gross Income 98.86 113.18 14.5 %
Operating Income 60.75 67.48 11.1 %
Net Income 40.48 45.36 12.1 %
Average Shares 43.00 43.00 -
Earnings Per Share before unusual items (Riyal) 0.94 1.05 12.1 %
EPS (Riyal) 0.94 1.05 12.1 %

The annual profit growth was driven by a higher topline for Q1 2025, as the long-term and short-term rental revenues leapt by 36% and 3.2%, respectively, during the same quarter. This is in addition to the improved utilization rates of the short-term and long-term rental segments, as well as better costs of some operating items.

 

The first-quarter net profit, however, dropped 11.3% from SAR 51.16 million in Q4 2024 on a slight decline in revenues and higher operating expenses on a quarter-on-quarter basis.

 

Shareholders’ equity, no minority interest, rose to SAR 850.4 million as of March 31, 2025, from SAR 752.5 million a year earlier.

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