Seera Group Holding reported a net loss after minorities of SAR 376 million in 2021, from SAR 18.2 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 904.59 | 1,328.45 | 46.9 % |
| Gross Income | 306.96 | 606.90 | 97.7 % |
| Operating Income | (545.94) | (364.62) | 33.2 % |
| Net Income | 18.18 | (371.54) | (2143.5 %) |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | 0.06 | (1.24) | (2143.5 %) |
The losses were due to exceptional gain on sale from Careem investment in 2020 and lower volumes as a result of COVID-19 travel restrictions.
Excluding the impact of exceptional items such as impairment losses, additional Zakat and SAR 68.5 million recognized other income from Careem holdback, the company’s normalized net loss narrowed to SAR 409 million in 2021 from SAR 599 million in 2020.
The company’s Q4 2021 net loss narrowed to SAR 76.02 million, from SAR 748.1 million in the same period last year.
On a sequential basis, net loss widened from SAR 72 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 227.72 | 487.46 | 114.1 % |
| Gross Income | 65.26 | 187.78 | 187.7 % |
| Operating Income | (102.00) | (104.24) | (2.2 %) |
| Net Income | (748.12) | (70.73) | 90.5 % |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | (2.49) | (0.24) | 90.5 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 369.12 | 487.46 | 32.1 % |
| Gross Income | 186.08 | 187.78 | 0.9 % |
| Operating Income | (52.55) | (104.24) | (98.4 %) |
| Net Income | (72.27) | (70.73) | 2.1 % |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | (0.24) | (0.24) | 2.1 % |
Total shareholders’ equity, after minority interest, fell to SAR 5.475 billion as of Dec. 31, 2021, from SAR 5.877 billion a year earlier.
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