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

23/02/2023 Argaam Exclusive
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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 -
Earnings Per Share before unusual items 3.09 3.54 14.6 %
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 -
Earnings Per Share before unusual items 0.74 0.91 24.4 %
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.

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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 6.0.710:1010:2010:3010:4010:5011:0011:1011:2011:4011:5012:0012:1012:2012:3012:4012:5013:1013:2013:4013:5014:1014:2014:4014:5015:2038.438.638.83939.239.439.639.8
Close : 39.05 | Apr 3, 15:20
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Financial Ratios
Current
Market Cap (M Riyal) 6,292.69
Enterprise Value (EV) (M) 7,672.63
Shares Outstanding ((M)) 78.17
EPS ( Riyal) (TTM) 4.21
Book Value (BV) ( Riyal) 34.51
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 20.00
P/E (TTM) 20.00
Price/book 2.33
Return on Average Assets (%) (TTM) 7.8
Return on Average Equity (%) (TTM) 13.8
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