Seera Group Holding narrowed net loss after minorities to SAR 48 million in 2022, from a loss of SAR 372 million in 2021.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 1,328.45 | 2,114.38 | 59.2 % |
| Gross Income | 606.90 | 924.14 | 52.3 % |
| Operating Income | (364.62) | (153.27) | 58.0 % |
| Net Income | (371.54) | (47.73) | 87.2 % |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | (1.24) | (0.16) | 87.2 % |
The group generated a gross booking value (GBV) of SAR 9.3 billion, up 94% from SAR 4.8 billion in 2021, driven by the resurgence in demand for travel. Revenue rose 77% year-on-year (YoY) to SAR 2.3 billion in 2022 as increased demand grew across all portfolio segments.
In addition, Seera posted an operating profit of SAR 3 million in 2022, against an operating loss of SAR 286 million in 2021.
Seera’s travel platform Almosafer achieved 75% YoY growth in GBV to SAR 6.1 billion in 2022, while revenue rose 6% YoY to SAR 515 million. Car rental business Lumi recorded 50% YoY growth in revenue to SAR 783 million in 2022.
The group’s hospitality business more than doubled its revenues to SAR 101 million in 2022.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 487.46 | 617.19 | 26.6 % |
| Gross Income | 187.78 | 284.65 | 51.6 % |
| Operating Income | (104.24) | (49.26) | 52.7 % |
| Net Income | (70.73) | 31.19 | 144.1 % |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | (0.24) | 0.10 | 144.1 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 512.00 | 617.19 | 20.5 % |
| Gross Income | 254.88 | 284.65 | 11.7 % |
| Operating Income | 78.70 | (49.26) | (162.6 %) |
| Net Income | 53.42 | 31.19 | (41.6 %) |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | 0.18 | 0.10 | (41.6 %) |
In Q4 2022, Seera swung to a net profit of SAR 31.2 million, from a net loss of SAR 70.73 million in the same period last year.
On a sequential basis, net profit dropped 42% from SAR 53.42 million in Q3 2022.
Total shareholders’ equity, after minority interest, amounted to SAR 5.42 billion as of Dec. 31, 2022, from SAR 5.50 billion a year earlier.
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