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NewsTranscript
00:00 Our goal is to establish the value for the shareholders and also for the clients.
00:11 The second thing is that we want to have better service for our clients and to realize the
00:20 real value for our companies and our shareholders.
00:24 The third thing is that we want to have a future with capital resources if needed.
00:34 And for now, our budget is strong enough to support our growth in the future.
00:42 If I believe you are talking about the sales of the company, then I agree.
01:11 We are talking about the market share.
01:14 All investors want to know the size of Lumi in the Saudi market.
01:18 What is your market share in the Saudi market today?
01:21 What is your arrangement for the car rental market in the Kingdom?
01:35 As you have seen, the market share is 30% in the first 15 minutes.
01:55 This means that investors have confidence in the company and we are confident that we
02:05 will keep the same market share for the investors and we can also keep the same market share
02:13 in the future.
02:14 Let's see Lumi in terms of the size of the car rental market and if there is a strategy
02:24 to increase the number of cars.
02:27 As of today, we have more than 28,000 cars and we are in the third position in the car
02:41 rental market.
02:42 We have a 7% market share and we are optimistic that we will increase this share over time.
02:52 Our growth in cars and our budget will be based on our cash flow and we are confident that
03:02 we will enter the market over time.
03:07 Let's talk about the size of the financial commitments of the company.
03:13 As you know, we are still talking about high interest rates.
03:19 To what extent do these rates still affect your desire to obtain future bank loans?
03:31 As of today, our budget is very strong and we have no problems with the debts but it
03:44 has reached only 0.9%.
03:46 Our operations depend on the cash flows of the company and we are ready to take loans
04:00 from banks.
04:01 The interest rates are increasing and that is why we are transferring these commitments
04:12 to the clients whenever we grow in the market.
04:16 Yes, we are talking today about the value of the company and its principles when evaluating.
04:23 The company's principles are based on 73% of the cars and what is left of the equipment
04:30 and other things.
04:31 This kind of principles have a salvage value in the financial system.
04:37 This means that its value will decrease year after year.
04:40 How will we judge the total value of the company's principles after the salvage operations?
04:46 We have a problem with the cost of the workers.
04:53 There is a cost of the car over time and this depends on the life of the company.
05:02 That is why we transfer the cost to the clients and this is part of the pricing and the pricing
05:09 of the car.
05:14 We are committed to these principles and we will replace them if we do not use them.
05:21 We also have cash flows from the operations and from the salvage operations.
05:26 Let us ask ourselves what is next?
05:29 What is next after this proposal?
05:32 Are there any plans to start the salvage operations or merge the companies?
05:39 As of now, our focus is to ensure the company's stability after the first year of operation
05:56 and to ensure that the market leaders do not have any intention to merge or merge.
06:06 Yes, if there is a chance in the future, we can look at this opportunity based on the
06:13 company's growth in the future.
06:16 Let us look at the commercial market now.
06:21 Mr. Athfar, in the case of this competition that we are witnessing in the Saudi market,
06:27 when do we expect the company's name to achieve a commercial mark?
06:33 This industry is very underdeveloped.
06:44 It has been underdeveloped for a long time.
06:51 There are security measures and strict rules that make this industry difficult to enter
06:58 in the future.
07:00 If there is an opportunity, yes, there will be an entry into this market.
07:06 But now, we do not expect any major competition from the competitors in the near future.