Budget Saudi 2021 profit rises 9% to SAR 219.9 mln; Q4 at SAR 51.7 mln

30/03/2022 Argaam Exclusive
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United International Transportation Co. (Budget Saudi) reported a net profit after Zakat and tax of SAR 219.9 million for 2021, a rise of 9%, compared with SAR 202.5 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 964.86 988.13 2.4 %
Gross Income 300.57 333.52 11.0 %
Operating Income 196.78 209.98 6.7 %
Net Income 202.45 219.91 8.6 %
Average Shares 71.17 71.17 0.0 %
Earnings Per Share before unusual items 2.84 3.09 8.6 %
EPS (Riyals) 2.84 3.09 8.6 %

The profit growth was primarily attributed to an increase in the short rental revenue as a result of improved utilization and a higher number of vehicles sold in 2021, compared to a year before.

 

The fourth-quarter net earnings reached SAR 51.7 million, falling 45% from SAR 93.9 million in the year-earlier period.

 

Sequentially, Q4 2021 earnings dropped 9%% from SAR 56.7 million in the previous quarter.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 272.87 267.90 (1.8 %)
Gross Income 108.41 86.33 (20.4 %)
Operating Income 84.42 49.83 (41.0 %)
Net Income 93.96 52.32 (44.3 %)
Average Shares 71.17 71.17 0.0 %
Earnings Per Share before unusual items 1.32 0.74 (44.3 %)
EPS (Riyals) 1.32 0.74 (44.3 %)

Total shareholders’ equity, after minority interest, reached SAR 1.59 billion at the end of 2021, compared with SAR 1.51 billion a year earlier.

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Share Price

United International Transportation Co.
80.50
(2.60) (3.13 %)

United International Transportation Co. (BUDGET SAUDI)

1 Day (3.13 %) 5 Days (3.13 %) 3 Months (1.11 %) 6 Months (1.83 %) Year (3.82 %) 2 Years 36.44 % 5 Years 190.61 % All 86.60 %
Created with Highstock 6.0.710:1010:2010:3010:4010:5011:0011:1011:2011:4012:0012:1012:2012:3012:4012:5013:0013:1013:2013:4013:5014:0014:1014:2014:3014:4014:5015:10135.5136136.5137137.5138138.5139139.5140140.5
Close : 138.80 | Apr 3, 15:19
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