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United Electronics Company (Extra) announces the estimated financial results for the period ending on 31 March 2025 (Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,740.05 | 1,581.42 | 10.03 | 1,675.07 | 3.879 |
| Gross Profit (Loss) | 407.53 | 345.66 | 17.899 | 432.36 | -5.742 |
| Operational Profit (Loss) | 124.69 | 118.6 | 5.134 | 197.43 | -36.843 |
| Net profit (Loss) | 103.36 | 93.86 | 10.121 | 177.65 | -41.818 |
| Total Comprehensive Income | 103.27 | 93.65 | 10.272 | 177.45 | -41.803 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 1,569.32 | 1,229.56 | 27.632 |
| Profit (Loss) per Share | 1.29 | 1.17 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | During the current quarter, the company witnessed a growth in total revenues for both the retail and consumer finance sectors compared to the same quarter of the previous year, with revenues rising to 1,740 million Saudi riyals from SAR 1,581.4 million, reflecting a growth rate of 10%. The revenues in retail sector has grown by 8.6% in the current quarter compared to the same quarter in the previous year, This growth is primarily attributed to higher (cliX) sales, an enhanced shopping experience, and an expanding base for the paid loyalty program (Jood), all of which contributed to an increase in the average basket size. Meanwhile, revenues in the consumer finance sector grew by 24.8% over the same quarter last year, driven by a 29% increase in the consumer finance portfolio during that time. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The company recorded a net profit of SAR 103.4 million, compared to SAR 93.9 million in the same quarter of last year. This was due to the growth in the company’s revenues, which reflected in an increase in gross profit by 17.9% to reach SAR 407.5 million in the current quarter, compared to SAR 345.7 million in the same quarter of the previous year. The company also witnessed an improvement in the gross profit margin by 1.6% during the current quarter compared to the same quarter last year, as the company recorded 23.4%, due to the improvement in sales mix and growth in the consumer finance sector.In addition to lower cost of finance in the retail sector resulting from the procceds of UIHC IPO. This performance was positively reflected in the net profit, which achieved a growth rate of 10.1%. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The company’s revenues increased during this quarter compared to the previous quarter, due to changes in seasonal sales. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | During this quarter, the company recorded a net profit of 103.4 million Saudi riyals, compared to 177.7 million Saudi riyals in the previous quarter. This drop is attributed to lower gross profit margin due to end of year rebates from suppliers. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | These estimated financial results for the period ending March 31, 2025, have been prepared by the company's management and have not been audited or reviewed by its external auditor. |
| Reclassification of Comparison Items | None |
| Additional Information | The company uses the cost model option for measuring properties and investment properties. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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