eXtra’s profit rises 10% to SAR 103.4M in Q1 2025

08/04/2025 Argaam Exclusive

United Electronics Co. (eXtra) reported a net profit of SAR 103.4 million in Q1 2025, an increase of 10% from SAR 93.9 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 1,581.42 1,740.05 10.0 %
Gross Income 345.66 407.53 17.9 %
Operating Income 118.60 124.69 5.1 %
Net Income 93.86 103.36 10.1 %
Average Shares 80.00 80.00 -
Earnings Per Share before unusual items 1.17 1.29 10.1 %
EPS (Riyals) 1.17 1.29 10.1 %

Total revenue rose 10% year-on-year (YoY) to SAR 1.74 billion, driven by growth in retail and consumer finance segments.

 

Retail revenue grew 8.6% YoY due to higher (cliX) sales, an enhanced shopping experience, and an expanding base for the paid loyalty program (Jood).

 

Consumer finance revenue rose 24.8% YoY, driven by a 29% increase in the consumer finance portfolio during that time.

 

The company also witnessed an improvement in the gross profit margin by 1.6% YoY, reaching 23.4%, due to the improvement in sales mix and growth in the consumer finance segment. This is in addition to lower cost of finance in the retail segment resulting from the proceeds of United International Holding Co. (UIHC) IPO.

 

On a sequential basis, net earnings dropped 41.8% from SAR 177.65 million in Q4 2024.

 

Shareholders’ equity, excluding minority interest, reached SAR 1.56 billion by March 31, 2025, compared to SAR 1.22 billion a year ago.

View More Financial Results

 

Quarterly Actuals vs Estimates 09/04/2025

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Share Price

United Electronics Co.
94.80
1.80 1.94 %

United Electronics Co. (EXTRA)

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Financial Ratios
Current
Market Cap (M Riyal) 7,584.00
Enterprise Value (EV) (M) 8,717.89
Shares Outstanding ((M)) 80.00
EPS ( Riyal) (TTM) 6.80
Book Value (BV) ( Riyal) 19.62
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 14.61
P/E (TTM) 13.94
Price/book 4.83
Return on Average Assets (%) (TTM) 10.8
Return on Average Equity (%) (TTM) 17.5
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2016 742.91 (14.8 %) 97.51 (27.3 %) (44.71) (356.3 %)
Q2 2016 881.27 0.2 % 145.33 4.9 % 12.16 (7.3 %)
Q3 2016 745.45 3.6 % 133.06 3.5 % 11.94 (0.4 %)
Q4 2016 1,387.04 8.9 % 213.39 21.2 % 44.13 250.6 %
Q1 2017 804.67 8.3 % 134.40 37.8 % 14.03 131.4 %
Q2 2017 1,013.91 15.1 % 172.29 18.6 % 44.08 262.5 %
Q3 2017 777.96 4.4 % 150.59 13.2 % 28.11 135.5 %
Q4 2017 1,613.25 16.3 % 253.04 18.6 % 70.08 58.8 %
Q1 2018 864.61 7.4 % 152.75 13.6 % 25.19 79.5 %
Q2 2018 1,015.36 0.1 % 185.12 7.4 % 51.47 16.8 %
Q3 2018 894.82 15.0 % 172.16 14.3 % 34.07 21.2 %
Q4 2018 1,619.28 0.4 % 269.38 6.5 % 69.27 (1.2 %)
Q1 2019 1,057.51 22.3 % 187.98 23.1 % 47.41 88.2 %
Q2 2019 1,161.50 14.4 % 226.46 22.3 % 73.08 42.0 %
Q3 2019 1,034.56 15.6 % 185.82 7.9 % 38.40 12.7 %
Q4 2019 1,881.04 16.2 % 300.93 11.7 % 89.88 29.8 %
Q1 2020 1,232.25 16.5 % 220.77 17.4 % 53.24 12.3 %
Q2 2020 1,550.86 33.5 % 276.12 21.9 % 118.47 62.1 %
Q3 2020 1,224.52 18.4 % 225.59 21.4 % 70.32 83.1 %
Q4 2020 1,954.69 3.9 % 316.83 5.3 % 112.10 24.7 %
Q1 2021 1,364.33 10.7 % 260.21 17.9 % 96.15 80.6 %
Q2 2021 1,328.79 (14.3 %) 289.79 5.0 % 108.12 (8.7 %)
Q3 2021 1,373.10 12.1 % 280.17 24.2 % 101.91 44.9 %
Q4 2021 1,767.41 (9.6 %) 353.48 11.6 % 146.65 30.8 %
Q1 2022 1,411.98 3.5 % 290.17 11.5 % 113.62 18.2 %
Q2 2022 1,700.41 28.0 % 320.90 10.7 % 124.24 14.9 %
Q3 2022 1,372.71 0.0 % 300.21 7.2 % 102.88 1.0 %
Q4 2022 1,545.96 (12.5 %) 353.78 0.1 % 143.41 (2.2 %)
Q1 2023 1,438.14 1.9 % 313.88 8.2 % 108.70 (4.3 %)
Q2 2023 1,749.73 2.9 % 344.72 7.4 % 124.86 0.5 %
Q3 2023 1,452.18 5.8 % 334.21 11.3 % 142.65 38.7 %
Q4 2023 1,559.66 0.9 % 372.78 5.4 % 132.75 (7.4 %)
Q1 2024 1,581.42 10.0 % 345.66 10.1 % 118.60 9.1 %
Q2 2024 1,921.32 9.8 % 390.76 13.4 % 127.57 2.2 %
Q3 2024 1,603.39 10.4 % 390.20 16.8 % 165.64 16.1 %
Q4 2024 1,675.07 7.4 % 432.36 16.0 % 197.43 48.7 %
Q1 2025 1,740.05 10.0 % 407.53 17.9 % 124.69 5.1 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2016 (45.89) (385.4 %) (0.57) - (45.89) (0.57)
Q2 2016 11.02 (6.8 %) 0.14 - 11.02 0.14
Q3 2016 6.16 (49.5 %) 0.08 (5.20) 11.36 0.14
Q4 2016 26.34 190.2 % 0.33 (15.62) 41.96 0.52
Q1 2017 12.99 128.3 % 0.16 - 12.99 0.16
Q2 2017 43.37 293.4 % 0.54 - 43.37 0.54
Q3 2017 26.13 324.1 % 0.33 - 26.13 0.33
Q4 2017 57.65 118.9 % 0.72 (9.60) 67.25 0.84
Q1 2018 21.57 66.0 % 0.27 - 21.57 0.27
Q2 2018 45.59 5.1 % 0.57 - 45.59 0.57
Q3 2018 30.95 18.5 % 0.39 - 30.95 0.39
Q4 2018 63.08 9.4 % 0.79 - 63.08 0.79
Q1 2019 33.83 56.8 % 0.42 - 33.83 0.42
Q2 2019 72.46 58.9 % 0.91 17.47 54.99 0.69
Q3 2019 27.23 (12.0 %) 0.34 4.50 22.73 0.28
Q4 2019 72.09 14.3 % 0.90 - 72.09 0.90
Q1 2020 34.68 2.5 % 0.43 - 34.68 0.43
Q2 2020 90.38 24.7 % 1.13 - 90.38 1.13
Q3 2020 53.44 96.2 % 0.67 - 53.44 0.67
Q4 2020 101.64 41.0 % 1.27 - 101.64 1.27
Q1 2021 81.20 134.1 % 1.01 - 81.20 1.01
Q2 2021 100.50 11.2 % 1.26 - 100.50 1.26
Q3 2021 89.00 66.6 % 1.11 - 89.00 1.11
Q4 2021 126.14 24.1 % 1.58 - 126.14 1.58
Q1 2022 97.51 20.1 % 1.22 - 97.51 1.22
Q2 2022 127.12 26.5 % 1.59 17.36 109.76 1.37
Q3 2022 94.16 5.8 % 1.18 2.78 91.38 1.14
Q4 2022 121.39 (3.8 %) 1.52 - 121.39 1.52
Q1 2023 84.44 (13.4 %) 1.06 - 84.44 1.06
Q2 2023 61.67 (51.5 %) 0.77 (38.00) 99.67 1.25
Q3 2023 118.27 25.6 % 1.48 - 118.27 1.48
Q4 2023 126.08 3.9 % 1.58 - 126.08 1.58
Q1 2024 93.86 11.2 % 1.17 - 93.86 1.17
Q2 2024 106.60 72.9 % 1.33 - 106.60 1.33
Q3 2024 156.33 32.2 % 1.95 16.30 140.03 1.75
Q4 2024 177.65 40.9 % 2.22 8.64 169.02 2.11
Q1 2025 103.36 10.1 % 1.29 - 103.36 1.29

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2016 14.95 % 1.10 % (0.35 %)
Q2 2016 15.13 % 1.00 % (0.38 %)
Q3 2016 15.15 % 1.01 % (0.40 %)
Q4 2016 15.69 % 1.78 % 0.49 %
Q1 2017 16.40 % 3.25 % 2.03 %
Q2 2017 16.53 % 4.02 % 2.78 %
Q3 2017 16.84 % 4.36 % 3.12 %
Q4 2017 16.87 % 4.76 % 3.56 %
Q1 2018 17.07 % 4.96 % 3.71 %
Q2 2018 17.36 % 5.09 % 3.76 %
Q3 2018 17.39 % 5.08 % 3.77 %
Q4 2018 17.74 % 5.02 % 3.67 %
Q1 2019 17.76 % 5.57 % 3.78 %
Q2 2019 18.08 % 6.11 % 3.86 %
Q3 2019 17.85 % 6.32 % 3.58 %
Q4 2019 17.55 % 6.79 % 3.58 %
Q1 2020 17.59 % 6.76 % 3.47 %
Q2 2020 17.26 % 7.19 % 3.86 %
Q3 2020 17.38 % 7.55 % 4.26 %
Q4 2020 17.43 % 7.76 % 4.70 %
Q1 2021 17.70 % 8.25 % 5.36 %
Q2 2021 18.60 % 8.34 % 5.73 %
Q3 2021 19.05 % 8.63 % 6.18 %
Q4 2021 20.29 % 9.49 % 6.80 %
Q1 2022 20.64 % 9.76 % 7.02 %
Q2 2022 19.91 % 9.50 % 6.76 %
Q3 2022 20.23 % 9.58 % 6.79 %
Q4 2022 20.98 % 9.83 % 6.96 %
Q1 2023 21.28 % 9.74 % 6.72 %
Q2 2023 21.49 % 9.66 % 6.50 %
Q3 2023 21.77 % 10.17 % 6.85 %
Q4 2023 22.03 % 10.06 % 6.91 %
Q1 2024 22.03 % 10.00 % 6.90 %
Q2 2024 22.16 % 9.84 % 6.83 %
Q3 2024 22.49 % 9.94 % 7.00 %
Q4 2024 22.99 % 10.73 % 7.51 %
Q1 2025 23.36 % - 7.48 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2016 80.00 (0.16) (0.16) 6.09
Q2 2016 80.00 (0.17) (0.17) 6.22
Q3 2016 80.00 (0.25) (0.18) 6.31
Q4 2016 80.00 (0.03) 0.23 6.60
Q1 2017 80.00 0.71 0.97 5.87
Q2 2017 80.00 1.11 1.37 6.41
Q3 2017 80.00 1.36 1.56 6.35
Q4 2017 80.00 1.75 1.87 7.08
Q1 2018 80.00 1.86 1.98 6.68
Q2 2018 80.00 1.89 2.01 7.25
Q3 2018 80.00 1.95 2.07 7.25
Q4 2018 80.00 2.01 2.01 8.07
Q1 2019 80.00 2.17 2.17 7.46
Q2 2019 80.00 2.50 2.29 7.61
Q3 2019 80.00 2.46 2.18 7.34
Q4 2019 80.00 2.57 2.30 8.25
Q1 2020 80.00 2.58 2.31 7.91
Q2 2020 80.00 2.80 2.75 9.14
Q3 2020 80.00 3.13 3.13 9.11
Q4 2020 80.00 3.50 3.50 10.32
Q1 2021 80.00 4.08 4.08 9.77
Q2 2021 80.00 4.21 4.21 11.10
Q3 2021 80.00 4.65 4.65 10.80
Q4 2021 80.00 4.96 4.96 12.41
Q1 2022 80.00 5.16 5.16 11.81
Q2 2022 80.00 5.50 5.28 13.42
Q3 2022 80.00 5.56 5.31 12.78
Q4 2022 80.00 5.50 5.25 14.24
Q1 2023 80.00 5.34 5.09 15.31
Q2 2023 80.00 4.52 4.96 14.18
Q3 2023 80.00 4.82 5.30 14.22
Q4 2023 80.00 4.88 5.36 16.05
Q1 2024 80.00 5.00 5.47 15.37
Q2 2024 80.00 5.56 5.56 16.77
Q3 2024 80.00 6.04 5.83 16.97
Q4 2024 80.00 6.68 6.37 21.37
Q1 2025 80.00 6.80 6.49 19.62

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2016 NEG NEG 1.91
Q2 2016 NEG NEG 1.89
Q3 2016 NEG NEG 1.28
Q4 2016 NEG 51.15 1.79
Q1 2017 21.61 15.79 2.60
Q2 2017 14.89 12.06 2.58
Q3 2017 17.41 15.22 3.73
Q4 2017 14.12 13.21 3.49
Q1 2018 19.10 17.94 5.31
Q2 2018 17.35 16.32 4.51
Q3 2018 17.30 16.30 4.65
Q4 2018 19.85 19.85 4.96
Q1 2019 17.32 17.32 5.03
Q2 2019 16.85 18.46 5.55
Q3 2019 18.56 20.90 6.21
Q4 2019 18.21 20.39 5.67
Q1 2020 13.88 15.53 4.53
Q2 2020 14.71 15.01 4.51
Q3 2020 16.69 16.69 5.74
Q4 2020 18.53 18.53 6.28
Q1 2021 19.29 19.29 8.06
Q2 2021 23.70 23.70 8.98
Q3 2021 22.98 22.98 9.91
Q4 2021 20.47 20.47 8.18
Q1 2022 19.32 19.32 8.45
Q2 2022 15.44 16.08 6.33
Q3 2022 14.83 15.54 6.46
Q4 2022 12.56 13.16 4.85
Q1 2023 14.55 15.27 5.08
Q2 2023 16.24 14.80 5.18
Q3 2023 15.66 14.25 5.31
Q4 2023 18.38 16.75 5.59
Q1 2024 19.01 17.36 6.18
Q2 2024 17.09 17.09 5.66
Q3 2024 15.71 16.25 5.59
Q4 2024 13.50 14.16 4.22
Q1 2025 13.85 14.52 4.80

Business Segments (Million)

Compared With The
Period Retail / Wholesale Consumer Finance Other activities Consolidation adjustments & eliminations
Q1 2020 1,214.34 18.75 2.48 (3.32)
Q2 2020 1,525.80 25.91 2.19 (3.04)
Q3 2020 1,189.03 36.33 3.38 (4.59)
Q4 2020 1,898.20 49.64 10.72 (3.51)
Q1 2021 1,304.32 61.38 3.79 (5.16)
Q2 2021 1,257.45 71.70 3.80 (4.16)
Q3 2021 1,293.20 80.45 3.87 (4.41)
Q4 2021 1,675.79 87.38 9.53 (5.28)
Q1 2022 1,318.29 94.61 4.64 (5.56)
Q2 2022 1,604.59 96.75 4.99 (5.92)
Q3 2022 1,265.96 107.01 4.99 (5.24)
Q4 2022 1,429.17 118.59 5.41 (7.21)
Q1 2023 1,316.48 122.63 5.73 (6.70)
Q3 2023 1,320.90 133.25 4.54 (5.53)
Q4 2023 1,420.00 140.64 5.95 (6.93)
Q1 2024 1,442.98 139.44 6.44 (7.43)
Q2 2024 1,772.47 149.82 4.15 (5.13)
Q3 2024 1,442.74 161.69 6.72 (7.76)

Analysts Estimates (Million)

Item Q1 2025 (e) Q1 2025 (net income) Change‬
Average 111.00 103.36 (6.9 %)

Estimates vs Actual (Million)

Item Q1 2025 (e) Q1 2025 (net income) Change
SNB Capital 111.00 103.36 (6.9) %

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