Seera Group Holding reported a net profit of SAR 265 million for 2023, versus a net loss of SAR 46 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 2,114.38 | 3,290.82 | 55.6 % |
| Gross Income | 924.14 | 1,412.16 | 52.8 % |
| Operating Income | (153.27) | 238.45 | 255.6 % |
| Net Income | (47.73) | 256.66 | 637.7 % |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | (0.16) | 0.86 | 637.7 % |
Revenues jumped 56% year-on-year (YoY) to SAR 3.29 billion driven by a 60% YoY growth of revenues in travel platform (Almosafer), 41% YoY growth in car rental (Lumi) and 66% YoY growth in the UK-based travel investment (Portman).
Net booking values crossed the 10-billion threshold, recording SAR 12.48 billion up 35% YoY. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 97% YoY to SAR 848 million, relative to a modest increase of 15% in operating expenses to SAR 1.18 billion.
Gross profit margins improved by 135 basis points (bps) to 11.3% (2022 9.96%) backed by improved product mix, particularly in hotel bookings and holiday packages from Almosafer and Portman Travel.
In Q4 2023, net profit increased by more than three-fold to SAR 109 million, from SAR 30.92 million a year earlier.
On a quarterly basis, net profit surged from SAR 23.98 million in Q3 2023.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 617.19 | 1,016.85 | 64.8 % |
| Gross Income | 284.65 | 399.79 | 40.5 % |
| Operating Income | (49.26) | 34.46 | 170.0 % |
| Net Income | 31.19 | 108.70 | 248.5 % |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | 0.10 | 0.36 | 248.5 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 800.82 | 1,016.85 | 27.0 % |
| Gross Income | 355.80 | 399.79 | 12.4 % |
| Operating Income | 72.44 | 34.46 | (52.4 %) |
| Net Income | 23.98 | 108.70 | 353.3 % |
| Average Shares | 300.00 | 300.00 | - |
| EPS (Riyals) | 0.08 | 0.36 | 353.3 % |
Total shareholders’ equity, after minority interest, stood at SAR 6.6 billion by Dec. 31, 2023, compared to SAR 5.4 billion a year ago.
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