Financial Results : Budget Saudi 2022 net profit jumps 15% to SAR 252 mln; Q4 at SAR 65.1 mln

Budget Saudi 2022 net profit jumps 15% to SAR 252 mln; Q4 at SAR 65.1 mln

23/02/2023 Argaam Exclusive

View other reports

United International Transportation Co. (Budget Saudi) reported a net profit after Zakat and tax of SAR 252 million for 2022, a 15% rise from SAR 219.9 million in the year-earlier period.



Financials (M)

Item 2021 2022 Change‬
Revenues 988.13 1,025.16 3.7 %
Gross Income 333.52 358.35 7.4 %
Operating Income 209.98 236.87 12.8 %
Net Income 219.91 252.01 14.6 %
Average Shares 71.17 71.17 -
EPS (Riyals) 3.09 3.54 14.6 %

The company attributed the improved results to better utilization in the short rental with a higher fleet, in addition to improving demand in long-term leasing during the year. This is in addition to optimal utilization of the growing fleet, which exceeded 32,000 vehicles by the end of 2022, was a factor for better revenue which resulted in an increase in profit.

 

In Q4 2022, net profit after Zakat and tax rose 24% to SAR 65.09 million from SAR 52.32 million a year earlier.

 

When compared to the previous quarter, Q4 net profit edged up 1.4% from SAR 64.17 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 267.90 250.22 (6.6 %)
Gross Income 86.33 85.77 (0.6 %)
Operating Income 49.83 55.84 12.0 %
Net Income 52.32 65.09 24.4 %
Average Shares 71.17 71.17 -
EPS (Riyals) 0.74 0.91 24.4 %

Total shareholders’ equity, no minority interest, reached SAR 1.72 billion as of Dec. 31, 2022, from SAR 1.59 billion a year earlier.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.