CR: 2055129554ㅣVilla 102, Najd 4, Najd, Jubail industrial city, KSA, 35815ㅣ+966 55 881 6327ㅣken@kenrental.comㅣwww.kenrental.com
Investor Relations
Industrial Overview
Changes in Saudi Construction Market (Million USD)
Saudi Arabia is the largest economy in MENA region and in the last year 2020 it became the first host of G20 summit in the region. As the global top oil exporter, it has been a home for many of world's biggest construction projects which have attracted almost all of the global construction giants and this gave us an opportunity to start the heavy equipment rental business. However, after passing through the golden age of oil-driven economy until 2014, abrupt oil price down made the oil giant stumbled and had been through a difficult time. But during this tough period, we have built a robust foundation for the rapid growth and took great advantage that the economic downturn shook the existing players so that we can be positioned as a prominent rental solution supplier with sophisticated knowledge and trustworthy services.
Before COVID19 impedes the pace of the global economy, Saudi fully recovered its dynamic momentum for growth so does the Company. Especially Ken Rental spotted a huge chance of growth in man lifts market that required by the most significant project of Saudi by the name of VISION 2030. VISION 2030 is the dream of Saudis who wish to build a new future of the country independent from oil and gas. Transforming Saudi into the most attractive tourist destination is its’ main goal and this goal drive numerous small, medium, large and mega tourism infra project such as new airport, high-speed railway, 5-star resorts on the islands of Red Sea, the world largest amusement park, the tallest building in the world, so many mega malls etc. All these projects require a massive amount of heavy equipment especially a substantial amount of scissor lifts that can work inside and outside the buildings.
The most conspicuous project of them all is the Haram Sanctuary extension project in Makkah and Madinah. This is the heart of VISION 2030 because these two Holy cities will be and must be the world's most visited place. Currently, Saudi hosts 4 million pilgrims a year but it wants to make it 30 million every year. This dream requires huge facilities and infrastructures for embracing the guests who wish to have a wonderful lifetime fulfilling journey as their dream travel. Ken Rental can become one of the main suppliers of this project in Makkah and Madinah. The Company expects rapid growth in scissor lifts and man lifts marking after the threaten of COVID19 subsides.
Not only tourism infra projects but also many mega projects in the oil and gas industry also lined up for the next. After Saudi Aramco, which is the world's biggest company ever, listed in the Saudi stock exchange market, it is thirsting for the chance to grow especially for the gas projects which are less influenced by short-term economic shock. For competing with peer gas producers, Aramco plans aggressive investment movement. Fortunately Ken Rental has strong careers in support for these industrial infra projects and the Company already in several major projects as well.
For meeting these strong demands Ken Rental is looking for investment partners to navigate the ocean of new opportunities together. If the Company’s solid build-up could meet the reliable partner who can share this unique chance, the joint venture will become the number one supplier of man lifts(or AWP/Powered Access) and other heavy equipment industry.
Ongoing or Upcoming Major Project in Saudi Arabia (Million USD)
Financial Highlights
Average annual growth rate of Ken Rental can be expected around 20%, if there is no major economic turmoil. And the average level of EBIT margin is projected as 15~25%. The Company is confident on the potential and power of Saudi economy as well as Ken Rental.
A major momentum for the Company to grow for the next decade will be the powerful increase of scissor lifts demand driven by VISION2030 which introduces an unprecedented mega project. Ken Rental predicts numbers of scissors and booms will reach 1,000 units by 2030. The Company forecasts it is at the gate of the market explosion that was experienced in South Korea, China, and Vietnam.
Saudi GDP Forecast Million USD, World Bank, IMF
Revenue Growth Forecase for Ken Rental
(Million Saudi Riyal)
EBIT ratio Forecase for Ken Rental
Join As a Partner
Ken Rental is looking for partners who will share the portion of future investment and also make a great synergy through the harmonic convergence of the two companies’ experiences and resources and eager to find out the way to create different typs of value by collaborating as global company.
If you want join us, feel free to contact us.
Ken Geunyoun Yi
CEO & Founder