Latest news with #AutoWorld
Associated Press
03-04-2025
- Automotive
- Associated Press
Budget Rent A Car Saudi Arabia Reports Strong FY 2024 Performance with SAR 311.7 Million Net Profit
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 To view an enhanced version of this graphic, please visit: 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 Website: Contact: +966 92000 4124 / +966 (0)12 692 7070 Ext 1403 or 1412 Contact: +966 92000 4124 / +966 (0)12 692 7070 Ext 1403 or 1412
Arab News
04-03-2025
- Automotive
- Arab News
Al Jomaih & Shell announces strategic partnership with United International Transportation Company
Al Jomaih & Shell Lubricating Oil Company Ltd. has officially entered a strategic partnership with United International Transportation Company (Budget Saudi, Rahal Ltd, Auto World, and Payless). In this supply agreement, the full range of Shell lubricant's product portfolio will be supplied to Budget Saudi Arabia and Auto World's extensive fleet across the Kingdom. This collaboration reinforces the commitment to delivering superior quality and efficiency in the vehicle's performance and maintenance. Budget Saudi strives to be the best and preferred mobility solutions partner in the transportation and logistics sector in the Middle East. The organization boasts the most extensive fleet in the Kingdom, and places significant emphasis on customer satisfaction, quality, and sustainability. Auto World, a member of the UNITRANS Group, has led vehicle leasing and maintenance in Saudi Arabia since 1981. With over 40 years of experience and a vast array of vehicles, it stands tall as one of the premier long-term car rental services for businesses, building strong partnerships across key industries. Saher Hashem, CEO of Al Jomaih and Shell Lubricating Oil Company, said: 'This agreement marks our significant efforts to expand our partnerships in the mobility sector. By supplying our full range of Shell lubricant's product portfolio to Budget Saudi Arabia and Auto World, we aim to enhance the efficiency and longevity of their fleets, ultimately contributing to an exceptional driving experience for their customers.' Fawaz Danish, group president of Budget Saudi Arabia, said: 'Our partnership with Al Jomaih and Shell Lubricating oil company Ltd., supports our mission to deliver best-in-class mobility solutions. By partnering with Shell's world-class lubricants, we ensure our vehicles operate at peak performance, providing our customers with reliability and excellence in every journey, maintaining vehicle quality for resale by Budget Saudi and its affiliates in the local market. During the ceremony both parties have highlighted how their technical leadership and services empower customers to optimize operating costs, extend equipment lifespan and minimize downtime. Sustainability is integral to the business operations and aligns with both companies' strategy as they look forward to further collaboration in this space to achieve shared goals and contribute meaningfully to Vision 2030 strategy.
Zawya
18-02-2025
- Automotive
- Zawya
Al Jomaih & Shell announces strategic partnership with United International Transportation Company
Jeddah, Saudi Arabia: Al Jomaih & Shell Lubricating Oil Company Ltd., (JOSLOC) has officially entered a strategic partnership with United International Transportation Company (Budget Saudi, Rahal Ltd, Auto World, and Payless). In this supply agreement, the full range of Shell lubricant's product portfolio will be supplied to Budget Saudi Arabia and Auto World's extensive fleet across the Kingdom. This collaboration reinforces the commitment to delivering superior quality and efficiency in the vehicle's performance and maintenance. Budget Saudi strives to be the best and preferred mobility solutions partner in the transportation and logistics sector in the Middle East. The organization boasts the most extensive fleet in the Kingdom, and places significant emphasis on customer satisfaction, quality, and sustainability. Auto World, a member of the UNITRANS Group, has led vehicle leasing and maintenance in Saudi Arabia since 1981. With over 40 years of experience and a vast array of vehicles, it stands tall as one of the premier long-term car rental services for businesses, building strong partnerships across key industries. Mr. Saher Hashem, CEO of Al Jomaih and Shell Lubricating Oil Company, said: 'This agreement marks our significant efforts to expand our partnerships in the mobility sector. By supplying our full range of Shell lubricant's product portfolio to Budget Saudi Arabia and Auto World, we aim to enhance the efficiency and longevity of their fleets, ultimately contributing to an exceptional driving experience for their customers.' Mr. Fawaz Danish, Group President of Budget Saudi Arabia, said: 'Our partnership with Al Jomaih and Shell Lubricating oil company Ltd., supports our mission to deliver best-in-class mobility solutions. By partnering with Shell's world-class lubricants, we ensure our vehicles operate at peak performance, providing our customers with reliability and excellence in every journey, maintaining vehicle quality for resale by Budget Saudi and its affiliates in the local market. During the ceremony both parties have highlighted how their technical leadership and services empower customers to optimize operating costs, extend equipment lifespan and minimize downtime. Sustainability is integral to the business operations and aligns with both companies' strategy as they look forward to further collaboration in this space to achieve shared goals and contribute meaningfully to Vision 2030 strategy.
