Budget Saudi 9M 2024 profit up slightly to SAR 211.6M; Q3 at SAR 71.7M

07/11/2024 Argaam Exclusive

View other reports

United International Transportation Co. (Budget Saudi) reported a net profit of SAR 211.6 million for the first nine months of 2024, from SAR 211.1 million in the year-earlier period

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	1,008.33	1,347.77	33.7 %
Gross Income	327.55	405.28	23.7 %
Operating Income	220.11	224.99	2.2 %
Net Income	211.10	212.63	0.7 %
Average Shares	71.17	74.67	4.9 %
EPS (Riyals)	2.97	2.85	(4.0 %)

Q3 2024 net profit stood at SAR 71.7 million, an increase of 0.3%, from SAR 71.5 million, primarily driven by the expansion of its long-term lease fleet and the resulting higher lease revenue.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	369.07	505.82	37.1 %
Gross Income	110.61	156.57	41.6 %
Operating Income	73.09	83.17	13.8 %
Net Income	71.50	71.70	0.3 %
Average Shares	71.17	74.67	4.9 %
EPS (Riyals)	1.00	0.96	(4.4 %)

Item	Q2 2024	Q3 2024	Change‬
Revenues	425.07	505.82	19.0 %
Gross Income	119.69	156.57	30.8 %
Operating Income	70.80	83.17	17.5 %
Net Income	70.87	71.70	1.2 %
Average Shares	74.67	74.67	-
EPS (Riyals)	0.95	0.96	1.2 %

Additionally, the consolidation of long-term lease revenue from Autoworld, acquired by Budget Saudi this quarter, contributed two months of lease revenue from Aug. 1, 2024, to Sept. 30, 2024.

On a sequential basis, net earnings increased by 2.2%from SAR 70.17 million in Q2 2024.

Total shareholders’ equity, after minority equity, stood at SAR 2.63 billion by Sept. 30, 2024, compared to SAR 1.79 billion a year earlier.

View more financial results

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.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

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.

×