Budget Saudi posts higher net profit at SAR 82.1m in I2 of 2014

30/06/2014 Argaam Exclusive

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Share Price

United International Transportation Co.
79.30
(1.30) (1.61 %)

United International Transportation Co. (BUDGET SAUDI)

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United International Transportation Company (Budget), a car rental and leasing Services Company, reported SAR 82.1m net profit at the end of the first half of 2014, an 11% increase compared to the same period last year, as shown in the following table:



Financials (M)

Item 6m 2013 6m 2014 Change‬
Revenues 320.54 368.14 14.9 %
Gross Income 51.19 60.78 18.7 %
Operating Income 20.36 26.45 29.9 %
Net Income 74.23 82.13 10.6 %
Average Shares 71.17 71.17 -
EPS (Riyals) 1.04 1.15 10.6 %


Current Quarter Comparison (M)

Compared With The
Item Q2 2013 Q2 2014 Change‬
Revenues 163.17 190.20 16.6 %
Gross Income 24.88 31.20 25.4 %
Operating Income 11.45 13.65 19.2 %
Net Income 38.07 42.26 11.0 %
Average Shares 71.17 71.17 -
EPS (Riyals) 0.53 0.59 11.0 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2005 - - - - - - -
Q2 2005 - - - - - - -
Q3 2005 - - - - - - -
Q4 2005 - - - - - - -
Q1 2006 - - - - - - -
Q2 2006 - - - - - - -
Q3 2006 101.67 - 27.05 - 19.73 - 0.28
Q4 2006 116.73 - 40.21 - 30.27 - 0.43
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
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
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
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
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
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
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
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

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
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 %
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 %
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 %
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 %
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 %
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 %
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 %
Q1 2014 17.17 % 65.89 % 22.33 %
Q2 2014 17.40 % 65.96 % 22.07 %


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

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

Business Segments (Million)

Compared With The
Period Leasing sector. Rental sector
Q1 2014 80.88 97.07
Q2 2014 90.54 99.66


Financial Ratios
Current
Market Cap (M Riyal) 5,643.78
Enterprise Value (EV) (M) 6,161.94
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) 20.33
P/E (TTM) 20.33
Price/book 2.86
Return on Average Assets (%) (TTM) 9.8
Return on Average Equity (%) (TTM) 14.7
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