Financial Results : Budget Saudi profit up 18% in Q1 2025 to SAR 82.8M

Budget Saudi profit up 18% in Q1 2025 to SAR 82.8M

13/05/2025 Argaam Exclusive

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United International Transportation Co. (Budget Saudi) reported a net profit of SAR 82.8 million in Q1 2025, an 18% hike from SAR 70.1 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 416.87 543.41 30.4 %
Gross Income 129.02 174.00 34.9 %
Operating Income 71.03 92.98 30.9 %
Net Income 70.06 82.76 18.1 %
Average Shares 74.67 78.17 4.7 %
Earnings Per Share before unusual items (Riyal) 0.94 1.06 12.8 %
EPS (Riyal) 0.94 1.06 12.8 %

Profit increase in Q1 2025 is attributable to higher revenues, driven by the growth in fleet size and improved utilization rates across both short-term and long-term rental segments, in addition to the contribution from the newly established subsidiary, AutoWorld.

 

In addition, Budget Saudi witnessed enhanced operational efficiency, cost control, and improved cost effectiveness, which led to an improvement in both gross and operating profit margins.

 

This was achieved despite an increase in financing costs and depreciation expenses resulting from fleet expansion, as well as recorded losses from the logistics company in which a stake was recently acquired.

 

On a quarterly basis, net profit dropped 18.9% from SAR 102 million in Q4 2024.

 

Total shareholders’ equity, excluding minority interest, rose to SAR 2.7 billion by March 2025 from SAR 1.9 billion a year ago.

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