Seera Group Holding narrowed its net loss after Zakat and tax to SAR 81 million in the first nine months of 2022, from SAR 300 million in the prior-year period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 841.00 | 1,497.19 | 78.0 % |
| Gross Income | 419.12 | 639.49 | 52.6 % |
| Operating Income | (260.39) | (104.02) | 60.1 % |
| Net Income | (300.81) | (78.92) | 73.8 % |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | (1.00) | (0.26) | 73.8 % |
The group said the decline in losses came from higher revenue driven by healthy margins and increased gross booking value (GBV).
Gross profit increased by 49% in 2022 to SAR 625 million from SAR 419 million in 2021.
The company generated a net loss after Zakat (before non-controlling interest) of SAR 77 million in 2022 as compared to SAR 302 million during the previous year.
Seera turned to a net profit after Zakat and tax of SAR 51.3 million in Q3 2022, against a net loss of SAR 72 million in the same quarter last year.
This came on the back of a 93% increase in GBV led by 100% growth in Almosafer platform GBV.
Compared to Q2 2022, the company swung to a net profit against a net loss of SAR 69.1 million.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 369.12 | 512.00 | 38.7 % |
| Gross Income | 186.08 | 254.88 | 37.0 % |
| Operating Income | (52.55) | 78.70 | 249.8 % |
| Net Income | (72.27) | 53.42 | 173.9 % |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | (0.24) | 0.18 | 173.9 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 524.39 | 512.00 | (2.4 %) |
| Gross Income | 222.37 | 254.88 | 14.6 % |
| Operating Income | (53.20) | 78.70 | 247.9 % |
| Net Income | (69.08) | 53.42 | 177.3 % |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | (0.23) | 0.18 | 177.3 % |
Shareholders’ equity, excluding minority interest, stood at SAR 5.347 billion as of Sept. 30, 2022, compared to SAR 5.589 million a year earlier.
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