Budget Saudi 9M 2022 net profit jumps 12% to SAR 186.9 mln; Q3 at SAR 64.2 mln

27/10/2022 Argaam Exclusive
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United International Transportation Co. (Budget Saudi) reported a net profit after Zakat and tax of SAR 168.9 million for the first nine months of 2022, a 12% rise from SAR 167.6 million in the year-earlier period.

 

The company attributed the improved results to an increase in sale proceeds from used cars, along with better short- and long-term rental revenue as the result of improving utilization.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 720.23 774.95 7.6 %
Gross Income 247.19 272.58 10.3 %
Operating Income 160.15 181.03 13.0 %
Net Income 167.60 186.92 11.5 %
Average Shares 71.17 71.17 -
Earnings Per Share before unusual items 2.35 2.63 11.5 %
EPS (Riyals) 2.35 2.63 11.5 %

In Q3 2022, net profit after Zakat and tax rose 28% to SAR 64.2 million from SAR 50.2 million a year earlier, driven by consistent improved utilization of short-term rental and growth in the long-term rental.

 

When compared to the previous quarter, Q3 net profit edged up 2.7% from SAR 62.4 million.



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 250.83 295.40 17.8 %
Gross Income 82.14 94.14 14.6 %
Operating Income 47.98 62.03 29.3 %
Net Income 50.12 64.17 28.0 %
Average Shares 71.17 71.17 -
Earnings Per Share before unusual items 0.70 0.90 28.0 %
EPS (Riyals) 0.70 0.90 28.0 %

Total shareholders’ equity, no minority interest, reached SAR 1.657 billion as of Sept. 30, 2022, from SAR 1.550 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 6.0.710:1010:3010:4011:0011:2011:4012:0012:1012:3012:5013:1013:3013:5014:1014:2014:4014:5015:1080.0080.5081.0081.5082.0082.5083.0083.50
Close : 80.50 | Apr 3, 15:16
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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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