Lumi Rental Company · TADAWUL:4262
Lumi Rental — Q1 2024 Earnings Presentation
21 slides from Lumi Rental's earnings presentation, May 20, 2024
Slide 1: Earnings Presentation 1Q 2024
EARNINGS PRESENTATION 1Q 2024
Slide 2: Business Overview
Business Overview 1 Lumi Earnings Lumi EarningsPresentation Presentation| 20|May 20242024 20 May 2
Slide 3: Strong financial performance, underpinning Lumi's leadership in the mobility sector
Strong financial performance, underpinning Lumi’s leadership in the mobility sector Total fleet size Total branches Rental 34k 36 32.9% Operational & Strategic Progress Lease • Active fleet growth 1Q 2024 67.1% 1Q 2024 • Market share gains Adjusted EBITDA (SAR Mn) Net profit (SAR Mn) Revenues +47% -
Slide 4: Business Segments Performance
Business Segments Performance 1 Lumi Earnings Lumi EarningsPresentation Presentation| 20|May 20242024 20 May 4
Slide 5: Constantly growing fleet in both lease and rental segments
Constantly growing fleet in both lease and rental segments Total fleet size (vehicles) 1Q 2024 Total fleet composition (%) 1Q 2024 +39% 33,253 33,945 Rental, 32.9% 27,724 24,418 25,971 Lease, 67.1% +6% +7% +20% +2% 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 Lease fleet size (vehicles) 1Q 2024 Rental fleet size (
Slide 6: Rental segment: maintained focus on fleet modernization
Rental segment: maintained focus on fleet modernization, ensuring that Lumi’s rental vehicles remain among the newest in the market to guarantee customer satisfaction and safety Rental fleet size (vehicles) 1Q 2024 Rental revenue (SAR Mn) 1Q 2024 Rental, vehicle utilization (%) 1Q 2024 +15% +25% 12,
Slide 7: Gradual branch expansion and infrastructure development across the Kingdom in 2024
Gradual branch expansion and infrastructure development across the Kingdom The branch network expansion is a significant Total branches initiative for development 36 1Q 2024 14 airport branches 22 city branches 40 in 2024 Total Revenue From Rental Region Composition (%) 1Q 2024 3% 6% 19% Central Reg
Slide 8: Lease segment: strong corporate base and fleet expansion
Lease segment: strong corporate base and fleet expansion Lease fleet size (vehicles) 1Q 2024 Lease revenue (SAR Mn) 1Q 2024 +54% +53% 22,785 127 20,847 115 18,350 102 16,110 89 14,753 83 +9% +14% +14% +9% +7% +14% +13% +10% 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 Average lease re
Slide 9: Used Car Sales: growth thanks to strategic fleet management
Used Car Sales: growth thanks to strategic fleet management and supportive market conditions Sold vehicles (over the period) 1Q 2024 Used car revenue (SAR Mn) 1Q 2024 +70% +54% 2,215 142 1,736 1,597 96 97 92 1,300 1,032 62 -21% +68% -8% +39% -32% +54% +1% +47% 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 1Q 23 2Q
Slide 10: Continued investments in vehicles align with focus on further market share gains
Continued investments in vehicles align with focus on further market share gains Investments in Vehicles (SAR Mn) 1Q 2024 Cars purchased and sold (number of vehicles) 1Q 2024 +15% 808 7,137 374 3,478 334 3,166 2,907 2,841 291 278 2,215 1,736 1,597 1,300 1,032 -5% +35% +116% -59% 1Q 23 2Q 23 3Q 23 4Q
Slide 11: Financial Overview
Financial Overview 1 Lumi Earnings Lumi EarningsPresentation Presentation| 20|May 20242024 20 May 11
Slide 12: Strong growth of revenue and EBITDA driven by best-in-class strategy execution
Strong growth of revenue and EBITDA driven by best-in-class strategy execution Net profit for the period movement YoY (SAR Mn) 1Q 2024 SAR Mn 1Q 2024 1Q 2023 YoY % -11% Revenues 384 267 +44% 117 Cost of revenue (271) (172) +57% 50 45 Gross profit 113 95 +20% (98) (5) (19) Operating expenses (36) (31
Slide 13: Well-balanced contribution to revenue growth by all business segments
Well-balanced contribution to revenue growth by all business segments Total revenue from contracts with customers (SAR Mn) 1Q 2024 Total revenue segmental movement YoY (SAR Mn) 1Q 2024 +44% +44% 50 384 Lease 384 23 44 Rental 267 Used Car Sales 127 314 291 267 115 1Q 23 Lease Rental Used Car Sales 1Q
Slide 14: The expenses growth is driven by strategic investments in fleet expansion
The expenses growth is driven by strategic investments in fleet expansion, service quality enhancement, and operational scaling Total expenses breakdown (SAR Mn) 1Q 2024 Total cost of revenues movement YoY (SAR Mn) 1Q 2024 +55% +57% 9 4 7 271 61 17 304 Total Cost of revenues 172 271 Total General &
Slide 15: A solid increase in EBITDA and improved returns in 1Q 2024
A solid increase in EBITDA and improved returns in 1Q 2024 Adjusted1 EBITDA (SAR Mn) 1Q 2024 Return margins (%) 1Q 2024 +47% 293 199 204 184 188 23.2% 21.6% -8% +11% -8% +56% 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 17.1% 17.1% EBITDA (SAR Mn) 1Q 2024 15.5% +25% 14.4% 165 140 132 128 12.0% 103 10.9% 10.2% 9.2%
Slide 16: Continued increase in total assets driven by active additions to the vehicle fleet
Continued increase in total assets driven by active additions to the vehicle fleet SAR Mn 1Q 2024 FY 2023 YtD % Total assets movement YTD (SAR Mn) 1Q 2024 +6% Total Non-Current Assets 2,985 2,858 +4% 158 50 24 3,448 incl. Vehicles 2,870 2,712 +6% 3,246 (31) Total Current Assets 463 389 +19% incl. Tr
Slide 17: Leverage ratios remain healthy, with debt to assets maintained at conservative levels
Leverage ratios remain healthy, indicating a balanced approach to growth, with debt to assets maintained at conservative levels Total debt (SAR Mn) 1Q 2024 Net debt (SAR Mn) 1Q 2024 +141% +147% 1,627 1,588 1,346 1,305 986 911 849 807 677 643 +25% +16% +36% +21% +25% +13% +43% +22% 1Q 23 2Q 23 3Q 23
Slide 18: Positive operating cash flow supported by healthy business performance amid expansion
Positive operating cash flow supported by healthy business performance amid expansion SAR Mn 1Q 2024 1Q 2023 YoY % Cash & cash equivalents movement YoY (SAR Mn) 1Q 2024 Profit after Zakat 45 50 -11% -5% Non-cash adjustments 254 157 +62% 41 39 276 Working capital changes (212) (83) +154% Cash flow, o
Slide 19: Q&A
Q&A 1 Lumi Earnings Lumi EarningsPresentation Presentation| 20|May 20242024 20 May 19 19
Slide 20: Lumi Rental Company Investor Relations
Lumi Rental Company Investor Relations investors@lumirental.com 1 Lumi Earnings Lumi EarningsPresentation Presentation| 20|May 20242024 20 May 20
Slide 21: Disclaimer
Disclaimer All information included in this document is for general use only and has not been independently verified, nor does it constitute or form part of any invitation or inducement to engage in any investment activity, nor does it constitute an offer or invitation or recommendation to buy or su