Budget Saudi net profit climbs 25% to SAR 60.3 mln in Q1 2022

22/05/2022 Argaam Exclusive

United International Transportation Co.’s (Budget Saudi) net profit after Zakat and tax climbed 25% to SAR 60.3 million in Q1 2022, compared to SAR 48.3 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 237.03 248.30 4.8 %
Gross Income 73.39 86.88 18.4 %
Operating Income 45.51 57.45 26.2 %
Net Income 48.32 60.27 24.7 %
Average Shares 71.17 71.17 0.0 %
EPS (Riyals) 0.68 0.85 24.7 %

The profit rise was due to higher demand and significant improvement in the short-term rentals revenue and new orders, as well as renewal of long-term rentals contracts year-on-year (YoY).  

 

Sequentially, net profit rose 16.6% from SAR 51.71 million in Q4 2021, driven by improved demand for the short-term rentals and an increase in long-term rentals contracts.  

 

Total shareholders’ equity, excluding minority interest, rose 6.1% YoY to SAR 1.658 billion as of March 31, 2022.

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Share Price

United International Transportation Co.
74.00
(0.70) (0.94 %)

United International Transportation Co. (BUDGET SAUDI)

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Financial Ratios
Current
Market Cap (M Riyal) 5,784.58
Enterprise Value (EV) (M) 7,260.87
Shares Outstanding ((M)) 78.17
EPS ( Riyal) (TTM) 3.73
Book Value (BV) ( Riyal) 33.15
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 20.75
P/E (TTM) 20.75
Price/book 2.23
Return on Average Assets (%) (TTM) 7.2
Return on Average Equity (%) (TTM) 12.7
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