Lumi Rental witnesses 61% profit decline in 9M-26 amid SAR 1bn revenue

LUMI
4262 0.54% 20.41 0.11

Riyadh — Mubasher: Lumi Rental Company registered a 61.35% plunge in net profit during the first nine months (9M) of 2026.

The net income reached SAR 61.87 million in 9M-26, compared to SAR 160.07 million in the prior-year 9M, according to a bourse disclosure.

Total revenue for the nine-month period that ended on 30 September 2026 slightly declined by 1.57% to SAR 1.22 billion.

Earnings per share (EPS) for the period was recorded at SAR 1.12, down from SAR 2.91 in 9M-25.

Despite the profit decline in January-September 2026, the company reported a 22.10% increase in operating cash flow to roughly SAR 747.60 million, while net debt decreased by 23.00% to SAR 1.30 billion.

In the third quarter (Q3) of 2026, Lumi Rental posted a 79.10% year-on-year (YoY) decline in net profit to SAR 11.01 million from SAR 52.71 million in Q3-25.

The company attributed the Q3-26 profit decrease to lower utilization rates and pricing pressures within its short-term rental segment, alongside higher operating expenses and increased provisions for accounts receivable.

Quarterly revenue rose by 11.50% to SAR 462.03 million in Q3-26, driven by growth in used car sales and long-term leasing.

However, gross profit for Q3-26 fell by 27.79% to SAR 81.87 million, while operating profit dropped by 59.01% to SAR 34.74 million.

The company’s EBITDA for the period stood at SAR 149.3 million, representing a margin of 32.3%.

In the first half (H1) of 2026, Lumi Rental generated net income of SAR 50.85 million and revenue of SAR 760.50 million.

Source: Mubasher Source: {{details.article.source}}