United Electronics Company (eXtra) saw its net income rise 41% y-o-y to SAR 177.7 mn in 4Q 2024, it said in a disclosure to Tadawul. Revenues grew 7.4% y-o-y to SAR 1.7 bn over the same period, on the back of growth from the retail sector, a 10% y-o-y rise in e-commerce sales, and a 28.4% y-o-y growth in the consumer finance portfolio.

On a full-year basis: eXtra’s bottomline rose 36.9% y-o-y to SAR 534.5 mn in 2024, and the topline rose 9.4% y-o-y to SAR 6.8 bn.

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eXtra’s subsidiary United International Holding (UIHC) — which owns and operates Tas’heel Finance — saw its estimated net income increase by 16.1% y-o-y to SAR 64.3 mn in 4Q, it said in a disclosure to Tadawul. Estimated revenues rose 23% y-o-y to SAR 172.9 mn, during the same period, driven by a 28.4% growth in the consumer finance portfolio. UIHC’s estimated net income grew 4.8% y-o-y to SAR 222.4 mn in 2024, and estimated revenues were up 19.1% y-o-y to SAR 623.9 mn over the same period.

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