Latest news with #SeeraGroupHolding
Zawya
10-03-2025
- Automotive
- Zawya
Lumi opens largest service and maintenance centre in Tabuk to boost land mobility in Saudi Arabia
Riyadh, Saudi Arabia: Lumi, a leading mobility provider in the Kingdom of Saudi Arabia, has announced the opening of its brand new centre in Tabuk's new Industrial area. Set across an extensive 4500 sqm, it is Lumi's largest service and maintenance centre in the Kingdom, as well as their first in the North, underscoring their commitment to enhance customer service through timely expansion. Equipped to serve both cars and buses, the state-of-the-art new service and maintenance centre is fitted out to facilitate both B2B and B2C services. With the capacity to handle 30 vehicles daily, it further amplifies Lumi's capabilities to scale up efficiency on the back of cutting-edge technology. The new opening takes Lumi's total service centres in Saudi Arabia to four. Syed Azfar Shakeel, CEO of Lumi, said; 'Saudi Arabia's dynamic growth trajectory calls for an agile and resilient land mobility sector to keep pace with the growing needs of the local economy. Lumi's expansion strategy in alignment with Saudi Vision 2030 has seen us enhancing our offerings to serve the requirements of a booming local sector. The opening of our new centre in Tabuk, is part of our long-term strategy to augment our operational excellence in the region and amplify our innovative offerings to our valued customers.' Lumi's state-of-the-art service and maintenance centres located in Riyadh, Jeddah, Khobar and now Tabuk is aimed at enhancing support to their ever-expanding customer base in the region. Other than routine maintenance work in line with Lumi's commitment to provide a young reliable fleet of vehicles to ensure the safety and well-being of drivers, the new centre is also equipped to handle damaged vehicles. With its fleet of over 35,000 new and well-maintained vehicles spread across 41 locations in the Kingdom, Lumi offers convenient and seamless booking experience enhanced by efficient customer service built on technology, efficiency and scale. As one of Saudi Arabia's leading car rental and leasing companies, with branches across 18 cities, they are well-equipped to meet the demands of the Kingdom's growing population. -Ends- About Lumi Rental Company Lumi Rental Company started its operations in 2006 as a sole proprietorship to provide car rental services amongst a portfolio of travel companies under the umbrella of Seera Group Holding. In 2016, strategic plans for the car rental business were reconfigured and an expert management team was appointed. The Company has emerged as one of the leaders in the car rental sector, serving customers across the Central, Western, Eastern, Northern and Southern Regions from 41 car rental branches and three vehicle maintenance centres in addition to mobile workshops and third-party vendors, digital channels and a used car sales showroom. Lumi's core activities consist of the following business segments: vehicle lease and provision of other related services; car rental and provision of other related services; and sale of used cars owned by the Company and released from its operations.
Zawya
07-03-2025
- Business
- Zawya
Saudi: Seera turns to net losses of $36.8mln in 2024
Riyadh – Seera Group Holding shifted to net losses of SAR 138 million in 2024, against a net profit of SAR 234 million in 2023. Meanwhile, strong dynamics across all business lines drove the company's revenue to surge by 24.76% year-on-year (YoY) to SAR 4.10 billion in 2024, compared with SAR 3.29 billion in 2023, according to the income statement. The loss per share stood at SAR 0.68 for the January-December 2024 period, versus earnings per share (EPS) of SAR 0.76 in the same period a year earlier. Acting CEO of Seera, Al Waleed Abdulaziz Al Nasser, said: 'Seera's businesses showed strong performance in 2024 despite one-off impairments that were recognised during the period and had a negative impact on the group's financial results." Al Nasser added: 'Plans to list Almosafer and divest Portman remain on course, and the successful implementation of the share buyback program has proved management's ability to execute the Group's capital allocation strategy.' The CEO concluded: 'Seera has enhanced its financial position over the past year, having achieved solid profitability of the core businesses, positive FCF, improving returns on capital, and insignificant leverage. This reflects the first results of the successful execution of our strategy aiming at long-term shareholder value creation through engaged investor approach, smart portfolio management, and efficient capital allocation.' In the first nine months (9M) of 2024, Seera recorded a net profit of SAR 174 million, marking a 16.77% increase from SAR 149 million in 9M 2023. Source: Mubasher
