Q3 2024 Reports

Overview

Lumi Rental Company is one of the leading players positioned for acceleration and growth in the land mobility sector, and one of the leading and fastest-growing car rental and leasing companies in the Kingdom of Saudi Arabia.

We are an industry leader with a unique and diverse offering, including lease services to corporate and government sector clients, car rentals via digital channels and a network of 35 airport and city branches across the Kingdom, and used car sales.

Lumi’s shares began trading on the Main Market of the Saudi Exchange on 25 September 2023.

Message from the CEO

"Lumi is a leading and fast-growing player operating in a large and expanding market. With a dynamic and full-service chain business model, our operations are enabled by one of the largest active fleets in the Kingdom. Our service offering across rentals, leasing and used car sales caters to a wide client base, with industry-leading customer service delivered through an omnichannel platform. Driven by a diverse and committed workforce, we are ideally positioned to continue to build on our robust financial profile, in pursuit of compelling shareholder returns."

Azfar Shakeel

Chief Executive Officer

Investment Case

Lumi’s rapid growth has been driven by clear strategic planning and led by an expert management team, allowing the Company to emerge as a leader in the Kingdom’s car rental and leasing market.

Leading and growing local player operating in a large and expanding market with favourable conditions

Lumi has grown its fleet at a steep rate relative to its peer group, capturing a market share of 7% as of 31 December 2021G.
The Company is poised to capture additional market share as the sector grows on the back of increased tourism, high profile GIGA projects and the continuous development of the Kingdom’s non-oil sector.

Dynamic and holistic business offering, supported by one of the largest active fleets

Lumi offers lease services, provides rentals and sells used cars.
The Company offers best-in-class after-sales services, including three in-house workshops, 35 third-party repair centres, 650 quick-service maintenance points and 24/7 roadside assistance. This contributes to high levels of efficiency and client retention.
Lumi has been buying a substantial number of vehicles every year, resulting in strong relationships with car dealers. This enables the Company to obtain attractive vehicle prices, which are supportive of margins, and priority delivery for its fleet.

Partnering with a diverse client base through an omnichannel platform

Lumi offers lease services to corporate and government sector clients, provides rentals via digital channels and through a network of branches across the Kingdom, and sells used cars through closed bidding and showrooms.
The omnichannel platform includes integrated online (mobile application, website, and WhatsApp) and offline (branch, call centre) channels for the ease of customers.
Lumi is continuously digitizing its process to enhance customer experience and operational efficiency.

Compelling financial profile with robust and sustainable growth, driven by best-in-class strategy execution

With successful expansion, the Company has recorded highly attractive revenue growth and EBITDA margins as compared to its peers, enabled by a flexible capital structure.

Experienced leadership team delivering award-winning business success

Lumi is led by a seasoned leadership team with substantial sector experience.
In recognition of Lumi’s consistent quality and service, the Company was awarded “Leading Car Rental Company in Saudi Arabia & Middle East” by the World Travel Awards for 2020G, 2021G and 2022G.
As part of its focus on quality, the Company has also obtained ISO certifications for its Quality Management System (ISO 9001:2015G) in 2019G, for its Customer Satisfaction & Complaint Handling (ISO 10002:2018G), and for its Occupational Health & Safety Management System (ISO 45001:2018G) in 2020G.
The Lumi Academy drives career growth for ambitious and promising young professionals, promoting exemplary standards of customer service across operations.