Lumi Rental Company · TADAWUL:4262
Lumi Rental — Q2 2024 Earnings Presentation
21 slides from Lumi Rental's earnings presentation, Aug 6, 2024
Slide 1: Earnings Presentation 2Q 2024
EARNINGS PRESENTATION 2Q 2024
Slide 2: Business Overview
Business Overview 1 Lumi Earnings Lumi EarningsPresentation Presentation| 6 August 2024 2024 | 6 August 2
Slide 3: Strong financial results support Lumi's position in the mobility sector
Strong financial results support Lumi's position in the mobility sector Total fleet size Total branches Rental 38 32.4% Operational & Strategic Progress • Active fleet growth 34k Lease 67.6% 2Q 2024 2Q 2024 • Market share gains Adjusted EBITDA Margin (%) Net profit (SAR Mn) Revenues 79.9% -7% 79.0%
Slide 4: Business Segments Performance
Business Segments Performance 1 Lumi Earnings Lumi EarningsPresentation Presentation| 6 August 2024 2024 | 6 August 4
Slide 5: Consistent fleet growth in lease and rental segments
Consistent fleet growth in lease and rental segments Total fleet size (vehicles) 2Q 2024 Total fleet composition (%) 2Q 2024 +29% 33,253 33,945 33,518 Rental, 32.4% 27,724 25,971 +7% +20% +2% -1% Lease, 67.6% 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 Lease fleet size (vehicles) 2Q 2024 Rental fleet size (vehicl
Slide 6: Rental segment: focused on new fleet and better utilization
Rental segment: focused on new fleet and better utilization for top customer satisfaction and safety Rental fleet size (vehicles) 2Q 2024 Rental revenue (SAR Mn) 2Q 2024 Rental, vehicle utilization (%) 2Q 2024 +10% +40% 12,406 115 114 11,160 103 77.3% 10,861 9,861 94 9,374 81 69.8% 70.2% 65.8% 57.3%
Slide 7: Branch growth: new branches in 2Q 2024
Branch growth: 2 new branches in 2Q 2024, advancing infrastructure across the Kingdom The branch network expansion is a significant Total branches initiative for development 38 2Q 2024 16 airport branches 22 city branches 40 in 2024 Total Revenue From Rental Region Composition (%) 2Q 2024 3.2% 7.1%
Slide 8: Lease segment: solid corporate foundation and fleet expansion
Lease segment: solid corporate foundation and fleet expansion Lease fleet size (vehicles) 2Q 2024 Lease revenue (SAR Mn) 2Q 2024 +41% +50% 22,785 22,657 134 20,847 127 115 18,350 102 16,110 89 +14% +14% +9% -1% +14% +13% +10% +6% 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 Average le
Slide 9: Used Car Sales: strategic management and market support boost growth
Used Car Sales: strategic management and market support boost growth, strong price recovery Sold vehicles (over the period) 2Q 2024 Used car revenue (SAR Mn) 2Q 2024 +47% +81% 2,215 142 1,736 113 1,597 1,518 96 97 1,032 62 +68% -8% +39% -31% +54% +1% +47% -20% 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 2Q 23 3Q
Slide 10: Continued vehicle investments to drive market share growth
Continued vehicle investments to drive market share growth Investments in Vehicles (SAR Mn) 2Q 2024 Cars purchased and sold (number of vehicles) 2Q 2024 -59% 808 7,137 374 3,478 334 2,841 2,907 278 2,215 1,518 115 1,736 1,597 1,091 1,032 +35% +116% -59% -65% 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 2Q 23 3Q 23
Slide 11: Financial Overview
Financial Overview 1 Lumi Earnings Lumi EarningsPresentation Presentation| 6 August 2024 2024 | 6 August 11
Slide 12: Revenue and EBITDA growth driven by effective strategy execution
Revenue and EBITDA growth driven by effective strategy execution SAR Mn 1H 2024 1H 2023 YoY, % 2Q 2024 2Q 2023 YoY, % Net profit for the period movement YoY (SAR Mn) 2Q 2024 -7% Revenues 745 500 +49% 360 233 +55% 128 Cost of revenue (536) (327) +64% (265) (155) +71% Gross profit 209 173 +21% 95 78 +
Slide 13: Balanced contributions from all segments to revenue growth
Balanced contributions from all segments to revenue growth Total revenue from contracts with customers (SAR Mn) 2Q 2024 Total revenue segmental movement YoY (SAR Mn) 2Q 2024 +55% +55% 51 360 Lease 384 32 Rental 45 233 360 Used Car Sales 127 314 134 291 115 2Q 23 Lease Rental Used Car Sales 2Q 24 102
Slide 14: Expense growth driven by fleet expansion, service quality, and operational scaling
Expense growth driven by fleet expansion, service quality, and operational scaling investments Total expenses breakdown (SAR Mn) 2Q 2024 Total cost of revenues movement YoY (SAR Mn) 2Q 2024 +75% +71% 16 265 19 8 3 304 302 64 Total Cost of revenues 155 Total General & administrative expenses 271 265
Slide 15: Solid EBITDA growth and healthy margins in 2Q 2024
Solid EBITDA growth and healthy margins in 2Q 2024 Adjusted1 EBITDA (SAR Mn) 2Q 2024 Return margins (%) 2Q 2024 +57% 293 288 204 184 188 21.6% +11% -8% +56% -2% 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 17.1% 16.8% EBITDA (SAR Mn) 2Q 2024 15.5% 14.4% +28% 180 165 140 12.0% 128 11.6% 103 10.9% 10.2% 9.2% -9% -19
Slide 16: Consistent fleet expansion drives total asset increase
Consistent fleet expansion drives total asset increase SAR Mn 2Q 2024 4Q 2023 YtD % Total assets movement YTD (SAR Mn) 2Q 2024 +3% Total Non-Current Assets 2,915 2,858 +2% 83 70 3,343 3,246 incl. Vehicles 2,795 2,712 +3% (26) (30) Total Current Assets 428 389 +10% incl. Trade receivables 312 242 +29
Slide 17: Active business expansion with manageable debt levels
Active business expansion with manageable debt levels Total debt (SAR Mn) 2Q 2024 Net debt (SAR Mn) 2Q 2024 +37% +40% 1,850 1,823 1,627 1,588 1,346 1,305 986 911 849 807 +16% +36% +21% +14% +13% +43% +22% +15% 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 Debt to assets and equity (x)
Slide 18: Strong business performance drives operating cash flow in 1H 2024
Strong business performance drives operating cash flow in 1H 2024, with some pressure from increased working capital SAR Mn 1H 2024 1H 2023 YoY % 2Q 2024 2Q 2023 YoY % Cash & cash equivalents movement YoY (SAR Mn) 2Q 2024 Profit after Zakat 91 100 -9% 46 50 -7% -35% Non-cash adjustments 498 297 +68%
Slide 19: Q&A
Q&A 1 Lumi Earnings Lumi EarningsPresentation Presentation| 6 August 2024 2024 | 6 August 19 19
Slide 20: Lumi Rental Company Investor Relations
Lumi Rental Company Investor Relations investors@lumirental.com 1 Lumi Earnings Lumi EarningsPresentation Presentation| 6 August 2024 2024 | 6 August 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