On 2026-07-08 08:01:06 (Saudi Time), United Electronics Company (Extra) announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ending 30 June 2026, United Electronics Company (Extra) reported revenues of SAR 4,069.06 million, up 5.269% YoY from SAR 3,865.38 million, driven by a 4.6% increase in retail segment revenues supported by higher average basket size and growth in online sales, alongside an 11.8% rise in consumer finance revenues fueled by a 13.6% expansion in the consumer finance portfolio. Net profit attributable to shareholders grew 2.377% YoY to SAR 197.23 million from SAR 192.65 million, supported by a 7.817% increase in gross profit, though overall profitability gains were partially tempered by geopolitical developments in the region that weighed on consumer sentiment, particularly in Q2 2026, and by the company's continued investment in operational capabilities to support its long-term growth strategy.

Quarter-on-Quarter Performance Drivers

QoQ revenue rose 22.587% to SAR 2,240.99 million (vs. SAR 1,828.07 million in the prior quarter), primarily driven by the impact of the Mega sale event. Net profit increased 8.241% QoQ to SAR 102.57 million, compared to SAR 94.76 million in the previous quarter, with the improvement directly attributable to the growth in revenues.

Other Items

The external auditor's report carries an unmodified conclusion; however, it is noted that these estimated financial results for the period ending June 30, 2026, have been prepared by the company's management and have not been audited or reviewed by its external auditor. For the current quarter (Q2 2026), revenues reached SAR 2,240.99 million compared to SAR 2,124.71 million in the same quarter of the prior year, a 5.472% increase, with the retail segment recording a 5.4% revenue increase and the consumer finance segment reporting 6.5% year-on-year revenue growth driven by a 13.6% increase in the financing portfolio. Net profit attributable to shareholders for the current quarter was SAR 102.57 million, down 3.726% from SAR 106.54 million in the corresponding prior-year quarter, with the retail segment's net profit rising 7.3% while the consumer finance segment's net profit declined 20.3%, primarily due to slower revenue growth from market conditions and the company's continued investment in operational capabilities. Total shareholders' equity (after deducting minority equity) stood at SAR 1,656.35 million as of the current period, up 2.118% from SAR 1,621.99 million in the same period of the previous year, and earnings per share for the six-month period were SAR 2.58 compared to SAR 2.52 in the prior-year period. No reclassification of comparison items was reported, and the company uses the cost model option for measuring properties and investment properties.

Original announcement:

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