Budget’s 2014 net profit up 14% to SAR 171.1 mln

20/01/2015 Argaam Exclusive

View other reports

Share Price

United International Transportation Co. (BUDGET SAUDI)

United International Transportation Company (Budget), a car rental and leasing Services Company, reported a net profit of SAR 171.1 million, a 14 percent increase compared to the last year.

Financials (M)

Item	2013	2014	Change‬
Revenues	668.76	757.10	13.2 %
Gross Income	115.08	118.98	3.4 %
Operating Income	51.80	52.68	1.7 %
Net Income	150.21	171.05	13.9 %
Average Shares	71.17	71.17	-
EPS (Riyals)	2.11	2.40	13.9 %

A net profit of SAR 44.7 million was reported for Q4-2014 compared to SAR 44.2 million for Q3.

The company attributed the increase of 2014’s net profit, compared to the same period last year to:

1-The increase of revenue from rentals (long and short term) specially long term.

2- The growth in leasing trucks in subsidiary company Rahaal. The subsidiary company Rahaal has achieved an increase of net profit by 50% as a result of good performance of sales team of the company to increase the growth in leasing trucks.

3- The increase of gain on sale of vehicles during 2014 compared to 2013 by 22% due to high demand of car sales and as a result of disposing of more used vehicles on their maturity along with object to keep the latest and young fleet as a management policy. The addition of used car sale show also contributed to better car sale margin even though not very significant yet.

The increase of Q4-2014’s net profit compared to the same period last year was attributed to:

The increase of revenue from rentals (long and short term) during this quarter as a result of high demand of leasing vehicles as well as the growth in leasing trucks in subsidiary company Rahaal.
The increase of gain on sale of vehicles during this quarter compare to same quarter last year by 53% as a result of disposing of more used vehicles on their maturity along with object to keep the latest and young fleet as a management policy. The addition of used car sale show also contributed to better car sale margin even though not very significant yet.

The increase of Q4-2014’s net profit compared to the previous period (Q3-2014) was attributed to the increase of revenue from rentals (long and short term) specially long term.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2013	Q4 2014	Change‬
Revenues	179.54	199.02	10.9 %
Gross Income	35.68	31.12	(12.8 %)
Operating Income	18.42	14.98	(18.7 %)
Net Income	37.51	44.69	19.2 %
Average Shares	71.17	71.17	-
EPS (Riyals)	0.53	0.63	19.2 %

Item	Q3 2014	Q4 2014	Change‬
Revenues	189.94	199.02	4.8 %
Gross Income	27.09	31.12	14.9 %
Operating Income	11.25	14.98	33.2 %
Net Income	44.23	44.69	1.0 %
Average Shares	71.17	71.17	-
EPS (Riyals)	0.62	0.63	1.0 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2005	-	-	-	-	-	-	-
Q2 2005	-	-	-	-	-	-	-
Q3 2005	-	-	-	-	-	-	-
Q4 2005	-	-	-	-	-	-	-
2005	339.65	10.9 %	97.71	11.3 %	67.32	8.4 %	0.95
Q1 2006	-	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-	-
Q3 2006	101.67	-	27.05	-	19.73	-	0.28
Q4 2006	116.73	-	40.21	-	30.27	-	0.43
2006	392.24	15.5 %	105.70	8.2 %	70.99	5.5 %	1.00
Q1 2007	85.40	-	37.17	-	28.19	-	0.40
Q2 2007	89.06	-	22.06	-	10.60	-	0.15
Q3 2007	107.96	6.2 %	30.24	11.8 %	21.79	10.5 %	0.31
Q4 2007	114.22	(2.2 %)	41.82	4.0 %	16.80	(44.5 %)	0.24
2007	396.63	1.1 %	131.29	24.2 %	77.38	9.0 %	1.09
Q1 2008	109.14	27.8 %	30.30	(18.5 %)	19.04	(32.4 %)	0.27
Q2 2008	117.08	31.5 %	34.69	57.3 %	20.76	95.8 %	0.29
Q3 2008	128.46	19.0 %	35.23	16.5 %	24.95	14.5 %	0.35
Q4 2008	117.84	3.2 %	31.63	(24.4 %)	19.15	13.9 %	0.27
2008	472.52	19.1 %	131.84	0.4 %	83.89	8.4 %	1.18
Q1 2009	118.41	8.5 %	31.48	3.9 %	19.91	4.5 %	0.28
Q2 2009	89.86	(23.3 %)	13.91	(59.9 %)	21.48	3.5 %	0.30
Q3 2009	105.05	(18.2 %)	26.99	(23.4 %)	21.92	(12.1 %)	0.31
Q4 2009	101.04	(14.3 %)	30.96	(2.1 %)	22.46	17.3 %	0.32
2009	414.36	(12.3 %)	62.15	(52.9 %)	85.77	2.2 %	1.21
Q1 2010	107.83	(8.9 %)	20.04	(36.4 %)	22.55	13.3 %	0.32
Q2 2010	108.93	21.2 %	23.16	66.5 %	22.70	5.7 %	0.32
Q3 2010	114.98	9.5 %	34.37	27.4 %	28.18	28.6 %	0.40
Q4 2010	119.33	18.1 %	0.52	(98.3 %)	21.51	(4.2 %)	0.30
2010	451.07	8.9 %	80.47	29.5 %	94.81	10.5 %	1.33
Q1 2011	121.48	12.7 %	20.83	4.0 %	22.97	1.8 %	0.32
Q2 2011	125.30	15.0 %	23.69	2.3 %	23.95	5.5 %	0.34
Q3 2011	126.59	10.1 %	24.83	(27.8 %)	25.80	(8.4 %)	0.36
Q4 2011	134.83	13.0 %	19.29	3638.8 %	28.02	30.2 %	0.39
2011	508.21	12.7 %	88.65	10.2 %	100.73	6.2 %	1.42
Q1 2012	136.79	12.6 %	26.67	28.0 %	28.51	24.1 %	0.40
Q2 2012	144.56	15.4 %	26.64	12.5 %	30.31	26.5 %	0.43
Q3 2012	147.49	16.5 %	20.31	(18.2 %)	31.33	21.4 %	0.44
Q4 2012	153.37	13.7 %	20.39	5.7 %	35.64	27.2 %	0.50
2012	582.21	14.6 %	94.01	6.0 %	125.78	24.9 %	1.77
Q1 2013	157.37	15.0 %	26.32	(1.3 %)	36.16	26.8 %	0.51
Q2 2013	163.17	12.9 %	24.88	(6.6 %)	38.07	25.6 %	0.53
Q3 2013	168.68	14.4 %	28.21	38.9 %	38.47	22.8 %	0.54
Q4 2013	179.54	17.1 %	35.68	75.0 %	37.51	5.3 %	0.53
2013	668.76	14.9 %	115.08	22.4 %	150.21	19.4 %	2.11
Q1 2014	177.94	13.1 %	29.57	12.4 %	39.87	10.3 %	0.56
Q2 2014	190.20	16.6 %	31.20	25.4 %	42.26	11.0 %	0.59
Q3 2014	189.94	12.6 %	27.09	(4.0 %)	44.23	15.0 %	0.62
Q4 2014	199.02	10.9 %	31.12	(12.8 %)	44.69	19.2 %	0.63
2014	757.10	13.2 %	118.98	3.4 %	171.05	13.9 %	2.40

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2005	339.65	10.9 %	97.71	11.3 %	67.32	8.4 %	0.95
2006	392.24	15.5 %	105.70	8.2 %	70.99	5.5 %	1.00
2007	396.63	1.1 %	131.29	24.2 %	77.38	9.0 %	1.09
2008	472.52	19.1 %	131.84	0.4 %	83.89	8.4 %	1.18
2009	414.36	(12.3 %)	62.15	(52.9 %)	85.77	2.2 %	1.21
2010	451.07	8.9 %	80.47	29.5 %	94.81	10.5 %	1.33
2011	508.21	12.7 %	88.65	10.2 %	100.73	6.2 %	1.42
2012	582.21	14.6 %	94.01	6.0 %	125.78	24.9 %	1.77
2013	668.76	14.9 %	115.08	22.4 %	150.21	19.4 %	2.11
2014	757.10	13.2 %	118.98	3.4 %	171.05	13.9 %	2.40

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
2005	28.77 %	64.08 %	19.82 %
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	26.95 %	67.46 %	18.10 %
Q1 2007	-	-	-
Q2 2007	32.20 %	86.02 %	22.60 %
Q3 2007	32.49 %	63.98 %	22.76 %
Q4 2007	33.10 %	63.19 %	19.51 %
2007	33.10 %	63.19 %	19.51 %
Q1 2008	29.60 %	65.08 %	16.23 %
Q2 2008	30.56 %	68.46 %	17.48 %
Q3 2008	30.29 %	68.43 %	17.39 %
Q4 2008	27.90 %	67.68 %	17.75 %
2008	27.90 %	67.68 %	17.75 %
Q1 2009	27.61 %	67.58 %	17.59 %
Q2 2009	24.69 %	65.74 %	18.81 %
Q3 2009	24.12 %	64.62 %	19.12 %
Q4 2009	24.94 %	63.14 %	20.70 %
2009	15.00 %	63.14 %	20.70 %
Q1 2010	22.76 %	61.89 %	21.90 %
Q2 2010	23.92 %	62.75 %	21.20 %
Q3 2010	25.08 %	62.17 %	22.16 %
Q4 2010	17.31 %	60.08 %	21.05 %
2010	17.84 %	60.05 %	21.02 %
Q1 2011	16.97 %	59.32 %	20.52 %
Q2 2011	16.51 %	59.20 %	20.08 %
Q3 2011	14.18 %	59.46 %	19.12 %
Q4 2011	17.44 %	60.71 %	19.82 %
2011	17.44 %	60.71 %	19.82 %
Q1 2012	18.05 %	61.09 %	20.30 %
Q2 2012	17.95 %	61.59 %	20.75 %
Q3 2012	16.48 %	61.43 %	20.96 %
Q4 2012	16.15 %	61.68 %	21.60 %
2012	16.15 %	61.68 %	21.60 %
Q1 2013	15.54 %	61.88 %	22.14 %
Q2 2013	14.79 %	62.34 %	22.72 %
Q3 2013	15.53 %	63.14 %	23.08 %
Q4 2013	17.21 %	65.14 %	22.46 %
2013	17.21 %	65.14 %	22.46 %
Q1 2014	17.17 %	65.89 %	22.33 %
Q2 2014	17.40 %	65.96 %	22.07 %
Q3 2014	16.75 %	64.56 %	22.22 %
Q4 2014	15.72 %	66.14 %	22.59 %
2014	15.72 %	66.14 %	22.59 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2005	28.77 %	64.08 %	19.82 %
2006	26.95 %	67.46 %	18.10 %
2007	33.10 %	63.19 %	19.51 %
2008	27.90 %	67.68 %	17.75 %
2009	15.00 %	63.14 %	20.70 %
2010	17.84 %	60.05 %	21.02 %
2011	17.44 %	60.71 %	19.82 %
2012	16.15 %	61.68 %	21.60 %
2013	17.21 %	65.14 %	22.46 %
2014	15.72 %	66.14 %	22.59 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	26.60 %	154.73 %	19.40 %
Q4 2006	34.45 %	71.37 %	25.93 %
Q1 2007	43.52 %	60.05 %	33.00 %
Q2 2007	24.77 %	51.67 %	11.91 %
Q3 2007	28.01 %	69.26 %	20.18 %
Q4 2007	36.62 %	68.79 %	14.71 %
Q1 2008	27.76 %	68.02 %	17.45 %
Q2 2008	29.63 %	67.80 %	17.73 %
Q3 2008	27.42 %	69.04 %	19.42 %
Q4 2008	26.84 %	65.76 %	16.25 %
Q1 2009	26.59 %	67.57 %	16.81 %
Q2 2009	15.48 %	58.56 %	23.91 %
Q3 2009	25.69 %	65.18 %	20.86 %
Q4 2009	30.64 %	59.88 %	22.23 %
Q1 2010	18.58 %	63.34 %	20.92 %
Q2 2010	21.27 %	62.46 %	20.84 %
Q3 2010	29.90 %	62.82 %	24.51 %
Q4 2010	0.43 %	52.31 %	18.03 %
Q1 2011	17.15 %	60.06 %	18.90 %
Q2 2011	18.91 %	61.59 %	19.11 %
Q3 2011	19.61 %	63.51 %	20.38 %
Q4 2011	14.31 %	57.83 %	20.78 %
Q1 2012	19.50 %	61.58 %	20.84 %
Q2 2012	18.43 %	63.40 %	20.96 %
Q3 2012	13.77 %	62.63 %	21.24 %
Q4 2012	13.29 %	59.24 %	23.24 %
Q1 2013	16.72 %	62.36 %	22.98 %
Q2 2013	15.25 %	64.98 %	23.33 %
Q3 2013	16.72 %	65.64 %	22.81 %
Q4 2013	19.87 %	67.27 %	20.89 %
Q1 2014	16.62 %	65.58 %	22.41 %
Q2 2014	16.40 %	65.39 %	22.22 %
Q3 2014	14.26 %	60.23 %	23.29 %
Q4 2014	15.64 %	73.01 %	22.46 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2005	-	-	-	-
Q2 2005	-	-	-	-
Q3 2005	-	-	-	-
Q4 2005	-	-	-	-
Q1 2006	-	-	-	-
Q2 2006	-	-	-	-
Q3 2006	71.17	-	-	3.14
Q4 2006	71.17	-	-	3.23
Q1 2007	71.17	-	-	3.62
Q2 2007	71.17	1.25	1.25	3.75
Q3 2007	71.17	1.28	1.28	4.05
Q4 2007	71.17	1.09	1.09	4.26
Q1 2008	71.17	0.96	0.96	4.13
Q2 2008	71.17	1.10	1.10	4.42
Q3 2008	71.17	1.15	1.15	4.76
Q4 2008	71.17	1.18	1.18	5.00
Q1 2009	71.17	1.19	1.19	4.82
Q2 2009	71.17	1.20	1.20	5.12
Q3 2009	71.17	1.16	1.16	5.42
Q4 2009	71.17	1.21	1.21	5.71
Q1 2010	71.17	1.24	1.24	5.50
Q2 2010	71.17	1.26	1.26	5.82
Q3 2010	71.17	1.35	1.35	6.21
Q4 2010	71.17	1.33	1.33	6.48
Q1 2011	71.17	1.34	1.34	6.79
Q2 2011	71.17	1.36	1.36	6.55
Q3 2011	71.17	1.32	1.32	6.90
Q4 2011	71.17	1.42	1.42	7.27
Q1 2012	71.17	1.49	1.49	7.66
Q2 2012	71.17	1.58	1.58	7.44
Q3 2012	71.17	1.66	1.66	7.87
Q4 2012	71.17	1.77	1.77	8.34
Q1 2013	71.17	1.87	1.87	8.84
Q2 2013	71.17	1.98	1.98	8.65
Q3 2013	71.17	2.08	2.08	9.18
Q4 2013	71.17	2.11	2.11	9.67
Q1 2014	71.17	2.16	2.16	10.22
Q2 2014	71.17	2.22	2.22	9.85
Q3 2014	71.17	2.30	2.30	10.46
Q4 2014	71.17	2.40	2.40	11.05

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2005	71.17	0.95	0.95	2.57
2006	71.17	1.00	1.00	3.23
2007	71.17	1.09	1.09	4.26
2008	71.17	1.18	1.18	5.00
2009	71.17	1.21	1.21	5.71
2010	71.17	1.33	1.33	6.48
2011	71.17	1.42	1.42	7.27
2012	71.17	1.77	1.77	8.34
2013	71.17	2.11	2.11	9.67
2014	71.17	2.40	2.40	11.05

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	22.84	22.84	7.19
Q4 2007	28.99	28.99	7.41
Q1 2008	29.66	29.66	6.88
Q2 2008	22.73	22.73	5.67
Q3 2008	11.89	11.89	2.86
Q4 2008	8.24	8.24	1.94
Q1 2009	8.83	8.83	2.18
Q2 2009	11.44	11.44	2.69
Q3 2009	15.68	15.68	3.35
Q4 2009	12.84	12.84	2.71
Q1 2010	13.07	13.07	2.95
Q2 2010	10.65	10.65	2.31
Q3 2010	11.14	11.14	2.42
Q4 2010	10.63	10.63	2.19
Q1 2011	9.42	9.42	1.86
Q2 2011	8.72	8.72	1.81
Q3 2011	8.72	8.72	1.67
Q4 2011	9.12	9.12	1.78
Q1 2012	11.30	11.30	2.20
Q2 2012	9.18	9.18	1.95
Q3 2012	10.06	10.06	2.12
Q4 2012	10.24	10.24	2.17
Q1 2013	11.62	11.62	2.46
Q2 2013	12.26	12.26	2.81
Q3 2013	14.80	14.80	3.36
Q4 2013	14.51	14.51	3.17
Q1 2014	20.13	20.13	4.26
Q2 2014	18.46	18.46	4.17
Q3 2014	19.68	19.68	4.33
Q4 2014	16.57	16.57	3.60

Period	P/E	Adjusted P/E	Price/book
2005	-	-	-
2006	-	-	-
2007	28.99	28.99	7.41
2008	8.24	8.24	1.94
2009	12.84	12.84	2.71
2010	10.64	10.64	2.19
2011	9.12	9.12	1.78
2012	10.24	10.24	2.17
2013	14.51	14.51	3.17
2014	16.57	16.57	3.60

Business Segments (Million)

Compared With The

Period	Leasing sector.	Rental sector
Q1 2014	80.88	97.07
Q2 2014	90.54	99.66
Q3 2014	84.86	105.07
Q4 2014	156.67	42.35

Period	Leasing sector.	Rental sector
2010	191.66	259.41
2011	240.48	267.73
2012	290.09	292.13
2013	347.84	320.92
2014	412.95	344.15

Analysts Estimates (Million)

Item	Q4 2014 (e)	Q4 2014 (a)	Change‬
Average	42.90	44.69	4.18 %

Estimates vs Actual (Million)

Item	Q4 2014 (e)	Q4 2014 (a)	Change
OSOOL AND BAKHEET	42.90	44.69	4.2 %

Financial Ratios

	Current
Market Cap (M Riyal)	5,736.30
Enterprise Value (EV) (M)	6,254.46
Shares Outstanding ((M))	71.17
EPS ( Riyal) (TTM)	3.90
Book Value (BV) ( Riyal)	27.72
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	20.66
P/E (TTM)	20.66
Price/book	2.91
Return on Average Assets (%) (TTM)	9.8
Return on Average Equity (%) (TTM)	14.7

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.

Sign In

Search Result

Budget’s 2014 net profit up 14% to SAR 171.1 mln

View other reports

Share Price

United International Transportation Co. (BUDGET SAUDI)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2014 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Comments {{getCommentCount()}}

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

{{comment.DisplayName}}

Sign In

×

Forgot password?

Budget’s 2014 net profit up 14% to SAR 171.1 mln

View other reports

Share Price

United International Transportation Co. (BUDGET SAUDI)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2014

Revenue by Business Segment (Latest) 2014 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Comments {{getCommentCount()}}

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

{{comment.DisplayName}}

Business Segments (Million)