Budget Saudi Reports SAR 127.84M Net Profit in the Six Months 2026
BUDGET SAUDI 4260.SA | 0.00 |
On 2026-08-09 08:01:09 (Saudi Time), The United International Transportation Co. (Budget Saudi) announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 638,449 | 544,651 | 17.221 | 552,350 | 15.587 |
| Gross Profit (Loss) | 168,969 | 169,227 | -0.152 | 122,628 | 37.789 |
| Operational Profit (Loss) | 120,308 | 111,318 | 8.075 | 58,481 | 105.721 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 93,384 | 85,630 | 9.055 | 34,452 | 171.055 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 93,384 | 85,630 | 9.055 | 34,452 | 171.055 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,190,799 | 1,088,064 | 9.441 |
| Gross Profit (Loss) | 291,597 | 343,226 | -15.042 |
| Operational Profit (Loss) | 178,789 | 218,437 | -18.15 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 127,836 | 168,391 | -24.083 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 127,836 | 168,391 | -24.083 |
| Total Shareholders Equity (after Deducting Minority Equity) | 2,991,688 | 2,787,496 | 7.325 |
| Profit (Loss) per Share | 1.23 | 1.62 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, Sales/Revenue increased 9.441% YoY to SAR 1,190.80 million (from SAR 1,088.06 million), driven primarily by higher used car sales volumes. However, net profit attributable to shareholders declined 24.083% YoY to SAR 127.84 million (from SAR 168.39 million), mainly due to lower utilization levels in the short-term rental segment amid prevailing regional market conditions, compounded by higher insurance costs and a prudent increase in accounts receivable provisions. Gross profit also contracted 15.042% YoY to SAR 291.60 million (from SAR 343.23 million), reflecting the pressure on margins despite the top-line revenue growth.
Quarter-on-Quarter Performance Drivers
QoQ revenue rose 15.587% to SAR 638.45 million (from SAR 552.35 million), driven primarily by higher used car sales volumes. Net profit surged 171.055% QoQ to SAR 93.38 million (from SAR 34.45 million), supported by improved fleet utilization, a stronger vehicle sales recovery ratio, continued cost optimization and disciplined operating expense management. Additionally, the quarter included a one-time non-operating income of SAR 25 million arising from the completion of contractual conditions related to the acquisition of Al Jazeera Equipment Company Limited (AutoWorld), which is non-recurring and not expected to impact ongoing operating performance.
Other Items
The external auditor issued an unmodified conclusion with no additional comments in any other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. No accumulated losses were reported. Certain comparative figures have been reclassified to conform with the current period presentation. Total shareholders' equity (after deducting minority equity) stood at SAR 2,991,688 thousand as of the current period, up 7.325% from SAR 2,787,496 thousand in the same period of the prior year. Earnings per share for the current six-month period were SAR 1.23, compared to SAR 1.62 in the same period of the previous year.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97373&anCat=1&cs=4260&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/19052_461_2026-08-06_19-26-39_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.