| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,078 | 794 | 35.768 | 1,017 | 5.998 |
| Gross Profit (Loss) | 460 | 312 | 47.435 | 400 | 15 |
| Operational Profit (Loss) | 112 | 78 | 43.589 | 65 | 72.307 |
| Net profit (Loss) | 61 | 57 | 7.017 | 116 | -47.413 |
| Total Comprehensive Income | 121 | 68 | 77.941 | 202 | -40.099 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 6,711 | 5,490 | 22.24 |
| Profit (Loss) per Share | 0.155 | 0.188 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| 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 quarter compared to the same quarter of the last year is | In 1Q 2024, Seera reported strong results with substantial booking volumes and revenue that translated into positive bottom-line for the quarter. Net booking value reached SAR 3,433 million, a 30% increase from same quarter of the previous year. Revenues climbed to SAR 1,078 million, up 36% from SAR 794 million in 1Q 2023, primarily due to strategic acquisitions in Portman and expansion in Lumi. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit after zakat for the period ending March 31, 2024, the company generated net profit after zakat of SAR 61 million in Q1 2024, a 7% increase over Q1 2023 relative to net profit after zakat of SAR 57 million for the Quarter ending March 31, 2023 driven by improved gross margins as a percentage of NBV by 1.6 percentage points to 13.4% in 1Q 2024, helped by an improved product mix and average margins within the travel businesses and maintaining positive operating leverage.
Excluding the impact of one off reversal of Impairment loss amounting to SAR Nil (2023: SAR 12 million), the company posted a normalized net profit of SAR 61 million for the Q1 2024 Vs net profit of SR 45 million, a 36% increase over Q1 2023. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Group Revenue increased by 6% in Q1 2024 vs. Q4 2023, achieving SAR 1,078 million in Q1 2024 vs. SAR 1,017 million in Q4 2023 primarily due to strategic acquisitions in Portman and expansion in Lumi. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net profit after zakat The company generated a net profit after zakat of SAR 61 million as compared to net profit after zakat of SAR 116 million during the previous quarter, a 47% decrease .
Excluding the impact of one off gains on acquisition of a subsidiary amounting to SAR nil million (Q4 2023: SAR 97 million), the company posted a normalized net profit of SAR 61 million for the Q1 2024 Vs net profit of SR 19 million a 221 % increase over Q4 2023. |
| Statement of the type of external auditor’s report | Unmodified conclusion |
| 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) | Not applicable |
| Reclassification of Comparison Items | Not applicable |
| Additional Information | Other information:
1 The revenue for the current Quarter is SAR 1,078 million as compared to SAR 794 million during the previous year’s Quarter showing an increase of 36%. 2 The gross profit for the current Quarter is SAR 460 million as compared to SAR 312 million during the previous year’s Quarter with an improvement of 47%. 3 The operating profit for the current Quarter is SAR 112 million as compared to an operating profit of SAR 78 million in previous year with an improvement of 44%. 4 The net profit after zakat and tax before non-controlling interest for the current quarter is SAR 61 million as compared to net profit of SAR 57 million for the previous year’s quarter showing an increase of 7%, the net profit after non-controlling interest for the current quarter is SAR 46 million as compared to net profit of SAR 55 million for the previous year’s quarter showing a decrease of 16%. 5 – The total comprehensive income for the current year before non-controlling interest is SAR 121 million as compared to total comprehensive income of SAR 68 million for the previous year increased by 78%. The total comprehensive income after non-controlling interest for the current period is SAR 107 million as compared to total comprehensive loss of SAR 66 million for the same period of previous year showing an increase of 62%. 6 – Earnings per share for the current year is SR 0.155 as compared to a earning per share of SR 0.188 for the previous period. 7-The shareholders equity (without non-controlling interest) as at 31 March 2024 is SAR 6,711 million as compared to SAR 5,490 million in the same quarter of previous year (without non-controlling interest) increased by 22%. 8- On 2nd April 2024, the Group has received a rebate of SR 27 million from its vendors against the purchase of vehicles. (full year 2023: amount received as rebate was SR 10.4 million). refer note 20 of interim financial statements. |
| Attached Documents |  |
