| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 4,106 | 3,291 | 24.76 | ||
| Gross Profit (Loss) | 1,768 | 1,412 | 25.21 | ||
| Operational Profit (Loss) | 42 | 305 | -86.23 | ||
| Net profit (Loss) | -138 | 234 | – | ||
| Total Comprehensive Income | -81 | 396 | – | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 6,039 | 6,573 | -8.12 | ||
| Profit (Loss) per Share | -0.68 | 0.76 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | – | – | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Revenues grew by 25% year-on-year to SAR 4.11 billion in FY 2024 with strong dynamics across all business lines. This included 40% growth in car rental revenue, 25% revenue growth in the UK-based travel platform, 17% revenue growth in Almosafer and 8% revenue growth in the hospitality segment. Steady top-line momentum underscores the strength of the Group’s business model and the effectiveness of Seera’s expansion efforts over the year. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The Group recorded a net loss amounting to SAR 138 million in FY 2024 as compared to a net profit of SAR 234 million, as a result of one-off impairments recognized during the year.
Excluding one-off items, adjusted net profit amounted to SAR 153 million in FY 2024. This reflects a growth of 2% compared to adjusted net profit of SAR 150 million in FY 2023. Impairment SAR 291 million (2023: SAR nil) Negative goodwill SAR nil (2023: SAR 66 million) Recoveries of previously impaired receivables SAR nil (2023: SAR 18 million) |
| Statement of the type of external auditor’s report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | N/A |
| Additional Information | Seera Group Delivers Strong Operational Performance, with an 18% Year-on-Year Growth in Adjusted EBITDA* in FY 2024, reflecting continued progress in executing its strategic vision while maintaining strong operational performance.
Seera continues to pursue its commitment of efficiently managing its investment portfolio and enhancing return on capital. The Group has exited a number of assets as part of its strategic implementation. By 31 December 2024, Seera had repurchased 17.1 million shares, representing 5.7% of total capital, and the Group aims to continue the implementation of the share buyback program within the approved timeline and execute in the optimal market conditions, in accordance with the relevant Capital Market Authority guidelines and regulations. This buyback program is in accordance with Seera Group’s strategy and commitment to the disciplined and controlled allocation of capital and the sustained maximization of shareholder value. *Excludes one-off, non-recurring items to focus on the underlying performance (impairments, gains on Careem holdback, M&A in Portman Travel Group) Note: The Group has adjusted its gains on the acquisition of subsidiaries for SAR 31 million based on purchase price allocation, which was finalized during the measurement period, as specified by IFRS 3, the provisional amounts recognized on the acquisition date have been adjusted retrospectively in 31 December 2023. Refer to note 38 of the financial statements for further details For more additional information, kindly refer to the earnings release attached. |
| Attached Documents |  |
