Company achieves 12.4% profit growth, with revenues nearing SAR 2 billion
Riyadh, Saudi Arabia--(Newsfile Corp. - April 3, 2025) - Budget Rent A Car Saudi Arabia, a leading name in the Middle East's car rental and leasing industry, has announced its financial results for the fiscal year 2024, recording a net profit of SAR 311.7 million, a 12.4% increase compared to the previous year. The company's total revenue is approaching SAR 2 billion, supported by key acquisitions and strategic expansions.
This performance reflects consistent growth momentum, driven by the full acquisition of AutoWorld and a 70% ownership stake in Overseas Logistics Development Company, strengthening its operations in Saudi Arabia. In Q4 2024 alone, Budget Saudi achieved a profit of over SAR 100.1 million, reinforcing its financial stability and ability to capitalize on market opportunities.
President & Group CEO of Budget Rent a Car Saudi Arabia
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A Testament to Strength and Strategic Growth
Commenting on the company's performance, Fawaz Danish, President & Group CEO of Budget Saudi, stated:
"Our 2024 financial results highlight the strength of our business model, our strategic expansion, and the dedication of our team. The acquisition of AutoWorld and our investment in Overseas Logistics Development Company have strengthened our position in the market, allowing us to diversify our services and increase operational efficiencies."
"Saudi Arabia's thriving economy, coupled with our commitment to innovation, customer service, and operational excellence, has been instrumental in driving our success. We remain focused on sustaining this momentum in 2025 and beyond."
Continued Expansion and Market Leadership
Budget Saudi remains at the forefront of the vehicle rental and leasing industry in the region. The company has steadily expanded its operations and fleet to cater to the increasing demand for both short-term rentals and long-term leasing solutions.
With a fleet size exceeding 50,000 vehicles and a network of over 120 rental offices across more than 30 cities, Budget Saudi continues to deliver high-quality mobility solutions for both individual and corporate clients.
The acquisition of AutoWorld has played a pivotal role in Budget Saudi's expansion strategy, further diversifying its rental and leasing services. Additionally, the company's investment in the Overseas Logistics Development Company strengthens its logistics capabilities, allowing for greater efficiency in fleet management and operations.
A Positive Outlook for 2025
As the company looks ahead to 2025, it remains committed to enhancing its services, expanding its fleet, and leveraging technological innovations to improve customer experience.
"The Kingdom's Vision 2030 initiative is opening new opportunities for growth, and we are well-positioned to capitalize on them," added Fawaz Danish. "Our team is committed to setting higher goals, further strengthening our industry leadership, and delivering exceptional value to our customers and stakeholders."
Celebrating a Milestone Achievement
This financial milestone reflects the hard work and dedication of the Budget Saudi team and its colleagues at Unitrans Group of Companies.
"I would like to extend my sincere gratitude to our employees, partners, and customers for their unwavering support. Their commitment and trust in us continues to drive our success," said Fawaz Danish.
About Budget Rent A Car Saudi Arabia
Established in 1978, Budget Rent A Car Saudi Arabia has grown to become the leading vehicle rental and leasing company in the Kingdom, catering to both corporate and retail customers. It is the first publicly traded car rental company in Saudi Arabia, with a strong reputation for excellence, reliability, and innovation.
The company holds ISO 9001, 14001, and 45001 certifications for quality management, environmental management, and occupational health & safety standards. Over the years, Budget Saudi has been recognized with multiple industry awards, including five consecutive World Travel Awards and the prestigious INSEAD TOP 50 CEO award in the GCC.
Media Contact
Anil Mathew Abraham
Email: marketing@budgetsaudi.com
Website: www.budgetsaudi.com
Contact: +966 92000 4124 / +966 (0)12 692 7070 Ext 1403 or 1412
Address: 3, Al Basateen District, Bin 3 Complex, King Abdul Aziz Road, Jeddah 23719, Saudi Arabia
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