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.
| 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 % |
| 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.
| 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 % |
| EPS (Riyals) | 1.32 | 0.74 | (44.3 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 250.83 | 267.90 | 6.8 % |
| Gross Income | 82.14 | 86.33 | 5.1 % |
| Operating Income | 47.98 | 49.83 | 3.9 % |
| Net Income | 50.12 | 52.32 | 4.4 % |
| Average Shares | 71.17 | 71.17 | - |
| EPS (Riyals) | 0.70 | 0.74 | 4.4 % |
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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