United International 2024 net profit up 5% to SAR 222.4M; Q4 at SAR 64.3M
08/01/2025
Argaam Exclusive
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United International Holding Co. posted a net profit of SAR 222.4 million in 2024, a 5% year-on-year (YoY) leap from SAR 212.2 million.
Financials (M)
| Item | 2023 | 2024 | Change |
|---|---|---|---|
| Net income from finance commissions | 460.61 | 543.98 | 18.1 % |
| Net Income | 212.16 | 222.38 | 4.8 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 8.49 | 8.90 | 4.8 % |
The rise in profit during the current period is attributed to a 28.4% YoY growth in the financing portfolio of United Company for Financial Services (Tasheel Finance), driven by its Shariah-compliant financing products, which resulted in a 19.1% YoY increase in revenue.
On the other hand, operating expenses increased during the current period, along with a rise in provisions for expected credit loss due to the growth in the financing portfolio.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2023 | Q4 2024 | Change |
|---|---|---|---|
| Net income from finance commissions | 123.34 | 151.71 | 23.0 % |
| Net Income | 55.35 | 64.25 | 16.1 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 2.21 | 2.57 | 16.1 % |
Financial results (Million)
| Period | Commission income from finance and investments | Change | Net income from finance commissions | Change |
|---|---|---|---|---|
| Q1 2024 | 139.44 | - | 121.04 | - |
| Q2 2024 | 149.82 | - | 130.54 | - |
| Q3 2024 | 161.69 | 22.3 % | 140.69 | 21.9 % |
| Q4 2024 | 172.92 | 23.0 % | 151.71 | 23.0 % |
| 2024 | 623.87 | 19.1 % | 543.98 | 18.1 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2024 | 52.35 | - | 2.09 | - | 52.35 | 2.09 |
| Q2 2024 | 46.82 | - | 1.87 | - | 46.82 | 1.87 |
| Q3 2024 | 58.95 | 11.1 % | 2.36 | - | 58.95 | 2.36 |
| Q4 2024 | 64.25 | 16.1 % | 2.57 | - | 64.25 | 2.57 |
| 2024 | 222.38 | 4.8 % | 8.90 | - | 222.38 | 8.90 |
Profitability
| Period | Return On Average Assets | Return on Average Equity | Net Profit/Investment Income & Other Financing Operations |
|---|---|---|---|
| Q1 2024 | - | - | - |
| Q2 2024 | - | - | 36.93 % |
| Q3 2024 | - | 22.66 % | 36.09 % |
| Q4 2024 | 10.41 % | 22.20 % | 35.65 % |
| 2024 | 10.41 % | 22.20 % | 35.65 % |
Balance Sheet (B)
| Period | Assets | Change | Net Finance Investments | Change |
|---|---|---|---|---|
| Q1 2024 | - | - | - | - |
| Q2 2024 | 2.19 | - | 2.10 | - |
| Q3 2024 | 2.33 | - | 2.25 | - |
| Q4 2024 | 2.33 | 20.5 % | 2.25 | 20.4 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2024 | 25.00 | - | - | - |
| Q2 2024 | 25.00 | 8.30 | 8.30 | 39.59 |
| Q3 2024 | 25.00 | 8.54 | 8.54 | 41.95 |
| Q4 2024 | 25.00 | 8.90 | 8.90 | 44.52 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2024 | - | - | - |
| Q2 2024 | - | - | - |
| Q3 2024 | - | - | - |
| Q4 2024 | 20.24 | 20.24 | 4.04 |
Analysts Estimates (Million)
| Item | Q4 2024 (e) | Q4 2024 (a) | Change |
|---|---|---|---|
| Average | 63.47 | 64.25 | 1.23 % |
Estimates vs Actual (Million)
| Item | Q4 2024 (e) | Q4 2024 (a) | Change |
|---|---|---|---|
| Al Rajhi Capital | 65.00 | 64.25 | (1.2) % |
| AlJazira Capital | 63.40 | 64.25 | 1.3 % |
| GIB Capital | 62.00 | 64.25 | 3.6 % |
| Current | |
| Market Cap (M) | 4,670.00 |
| Shares Outstanding ((M)) | 25.00 |
| EPS ( Riyal) (TTM) | 8.90 |
| Book Value (BV) ( Riyal) | 44.52 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 21.00 |
| P/E (TTM) | 21.00 |
| Price/book | 4.20 |
| Return on Average Assets (%) (TTM) | 10.4 |
| Return on Average Equity (%) (TTM) | 22.2 |
Share Price
United International Holding Co. (UIHC)
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