Riyadh - Mubasher: United Electronics Company (eXtra) reported a preliminary net profit of SAR 301.85 million for the first nine months (9M) of 2026, an annual drop of 10% from SAR 335.39 million.
The decline occurred despite a 5.35% rise in total revenue to SAR 5.96 billion, driven by growth in retail and consumer finance segments.
Earnings per share (EPS) for the nine months stood at SAR 3.97, down from SAR 4.41 a year earlier. Total shareholders' equity reached SAR 1.60 billion.
For the third quarter (Q3) of 2026, net profit fell by 26.70% year-on-year (YoY) to SAR 104.63 million. While the retail division saw a 10.60% increase in quarterly net profit, the consumer finance segment witnessed an 82.40% drop.
This was primarily attributed to a SAR 70.10 million increase in impairment losses on financial assets, including a SAR 33.80 million additional provision to accelerate debt write-offs and SAR 36.30 million from updated credit loss models.
Retail revenues grew by 5.80% in the third quarter, supported by strong B2B performance and the launch of the iPhone 18.
Consumer finance revenues rose +3.30% as the financing portfolio expanded by 7.30%.
Financial data as of 30 June 2026 shows the company holds total assets of SAR 6.32 billion and retained earnings of SAR 1.09 billion.
