United Electronics Co. (eXtra) posted a 10% year-on-year (YoY) rise in net profit to SAR 103.4 million in Q1 2025, supported by strong performance across retail and consumer finance, CEO and Managing Director Mohamed Galal told Argaam.
Galal said gross profit grew 17.9% YoY to SAR 407.5 million, driven by an improved sales mix and notable growth in consumer finance. He stressed the company’s continued focus on net profit as a key performance measure.
Retail revenue rose 9% YoY in early 2025. Galal said this growth reflects the success of eXtra’s strategies, citing increased sales from the “Clix” platform and expansion of the paid loyalty program “Jood,” which helped boost average basket size.
He noted that the strong retail performance came despite the timing shift of Eid al-Fitr compared to last year, demonstrating the segment’s resilience and ability to manage seasonal challenges.
eXtra opened a new store in Riyadh during the first quarter of 2025, marking its 51st in the Kingdom and 56th in the Gulf.
Galal said the expansion supports Riyadh’s urban growth and brings the company closer to its customer base.
In consumer finance, revenue jumped 24.8% YoY as the loan portfolio grew 29%. Galal attributed this to successful customer base expansion and the rollout of innovative, consumer-focused financing solutions.
“We’re optimistic about future developments across both segments,” he said. “We’ll continue to invest in innovation and deliver evolving solutions that meet customer needs and support eXtra’s growth.”
eXtra’s Q1 2025 net profit rose 10% YoY to SAR 103.4 million before minority interest, up from SAR 93.9 million in Q1 2024, according to Argaam’s data.
United Electronics Co. (eXtra) posted a 10% year-on-year (YoY) rise in net profit to SAR 103.4 million in Q1 2025, supported by strong performance across retail and consumer finance, CEO and Managing Director Mohamed Galal told Argaam.
Galal said gross profit grew 17.9% YoY to SAR 407.5 million, driven by an improved sales mix and notable growth in consumer finance. He stressed the company’s continued focus on net profit as a key performance measure.
Retail revenue rose 9% YoY in early 2025. Galal said this growth reflects the success of eXtra’s strategies, citing increased sales from the “Clix” platform and expansion of the paid loyalty program “Jood,” which helped boost average basket size.
He noted that the strong retail performance came despite the timing shift of Eid al-Fitr compared to last year, demonstrating the segment’s resilience and ability to manage seasonal challenges.
eXtra opened a new store in Riyadh during the first quarter of 2025, marking its 51st in the Kingdom and 56th in the Gulf.
Galal said the expansion supports Riyadh’s urban growth and brings the company closer to its customer base.
In consumer finance, revenue jumped 24.8% YoY as the loan portfolio grew 29%. Galal attributed this to successful customer base expansion and the rollout of innovative, consumer-focused financing solutions.
“We’re optimistic about future developments across both segments,” he said. “We’ll continue to invest in innovation and deliver evolving solutions that meet customer needs and support eXtra’s growth.”
eXtra’s Q1 2025 net profit rose 10% YoY to SAR 103.4 million before minority interest, up from SAR 93.9 million in Q1 2024, according to Argaam’s data.
