Lumi Rental Reports SAR 50.85M Net Profit in the Six Months 2026
LUMI 4262.SA | 0.00 |
On 2026-08-05 08:37:03 (Saudi Time), Lumi Rental Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 394,441 | 416,129 | -5.211 | 366,058 | 7.753 |
| Gross Profit (Loss) | 92,473 | 125,157 | -26.114 | 113,984 | -18.871 |
| Operational Profit (Loss) | 36,080 | 84,923 | -57.514 | 65,891 | -45.242 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 10,814 | 54,213 | -80.052 | 40,040 | -72.992 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 10,814 | 54,213 | -80.052 | 40,040 | -72.992 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 760,498 | 827,661 | -8.114 |
| Gross Profit (Loss) | 206,457 | 245,610 | -15.941 |
| Operational Profit (Loss) | 101,971 | 167,924 | -39.275 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 50,854 | 107,362 | -52.633 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 50,854 | 107,362 | -52.633 |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,458,663 | 1,319,604 | 10.537 |
| Profit (Loss) per Share | 0.92 | 1.95 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026 (H1 2026), sales/revenue declined 8.114% YoY to SAR 760.50 million (converted from SAR 760,498 thousands) from SAR 827.66 million (converted from SAR 827,661 thousands), primarily driven by lower revenues from the Rental and Used Car Sales segments, partially offset by growth in Lease segment revenue. Net profit fell sharply by 52.633% YoY to SAR 50.85 million (converted from SAR 50,854 thousands) from SAR 107.36 million (converted from SAR 107,362 thousands), mainly due to lower gross profit reflecting softer Rental segment conditions, higher operating expenses, and increased receivable provisions driven by growth in receivable balances and prevailing macroeconomic conditions.
Quarter-on-Quarter Performance Drivers
QoQ revenue rose 7.8% to SAR 394.44 million (SAR 394,441 thousand), driven primarily by higher used car sales during the quarter. However, net profit fell sharply by 73.0% QoQ to SAR 10.81 million (SAR 10,814 thousand), mainly due to lower gross profit reflecting softer Rental segment utilisation and pricing, compounded by higher operating expenses and increased receivable provisions stemming from growth in receivable balances and challenging macroeconomic conditions.
Other Items
The external auditor issued an unmodified conclusion on Lumi Rental Co.'s interim condensed financial statements for the three-month and six-month periods ended 30 June 2026. The auditor's report includes an "Other Matter" paragraph noting that the financial statements for the year ended 31 December 2025 were audited by another auditor who expressed an unmodified opinion, and that the interim condensed financial statements for the periods ended 30 June 2025 were reviewed by another auditor who also expressed an unmodified conclusion. For Q2 2026, gross profit declined 26.114% YoY to SAR 92,473 thousands and operational profit fell 57.514% YoY to SAR 36,080 thousands. For H1 2026, gross profit declined 15.941% YoY to SAR 206,457 thousands and operational profit fell 39.275% YoY to SAR 101,971 thousands. Total shareholders' equity (after deducting minority equity) stood at SAR 1,458,663 thousands as of the current period, up 10.537% from SAR 1,319,604 thousands in the same period of the prior year. Earnings per share for H1 2026 were SAR 0.92, compared to SAR 1.95 in H1 2025. No accumulated losses or going concern risks were disclosed. Certain comparative figures have been reclassified to conform with the current period presentation.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97283&anCat=1&cs=4262&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/25832_4826_2026-08-05_08-33-14_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.