Seera Holding Group · TADAWUL:1810
Seera — FY2023 Earnings Presentation
31 slides from Seera's earnings presentation, Apr 2, 2024
Slide 1: Earnings Presentation FY 2023
Earnings Presentation FY 2023 Seera Earnings Presentation | 02/04/2024 1
Slide 2: 2023 was a milestone year in Seera's journey
2023 was a milestone year in Seera’s journey Grade A real estate project in the Net Booking Value Revenue Kingdom’s capital city. SAR 7.6 Bn SAR 0.8 Bn +24% vs. 2022 +59% vs. 2022 7.7M flight segments 2.0M room nights +17% vs. 2022 +43% vs. 2022 33K vehicles in fleet Revenue +49% vs. 2022 SAR 1,106
Slide 3: Strong financial results, with record booking volumes and revenues
Strong financial results, with record booking volumes and revenues feeding down to strong bottom-line growth Financial highlights: Net Booking Value - Total NBV composition (%) Revenue FY 2023 < < Hospitality 1.5% Other 3.0% 12,486 3,291 • Robust NBV and revenue growth, Car Rental driven by continue
Slide 4: 2023 in Review
2023 in Review Seera Earnings Presentation | 02/04/2024 4
Slide 5: Financial outcomes positively impacted by upturn in travel demand
Financial outcomes were positively impacted by an upturn in travel demand and across- the-board improvement of all business segments SAR Mn FY 2023 FY 2022 YoY % Change EBITDA (SAR Mn) FY 2023 Net booking value 12,486 9,279 +35% 848 +14% CAGR Revenue 3,291 2,114 +56% Cost of revenue (1,879) (1,190)
Slide 6: Group NBV and revenue exceeded pre-Covid levels
Group NBV and revenue exceeded pre-Covid levels driven by resurgence in demand across all sectors Net Booking Value (SAR Mn) FY 2023 Revenue (SAR Mn) FY 2023 +4% CAGR 12,486 3,291 +11% CAGR 10,844 9,279 2,190 2,114 1,328 4,797 3,734 905 -66% +28% +93% +35% -59% +47% +59% +56% 2019 2020 2021 2022 202
Slide 7: Group operating expenses growth rate is slower than revenue growth
Group operating expenses growth rate is slower than revenue growth Operating Expenses (SAR Mn) FY 2023 Total Selling Expenses Movement YoY (SAR Mn) FY 2023 +10% 1,184 416 25 23 458 +6% (2) (4) 1,029 922 +13% -3% +33% -6% 886 828 2022 Employee Advertising Sales Other 2023 benefits commission 726 & in
Slide 8: Group EBITDA exceeded 2019 levels in FY 2023, growing 97%
Group EBITDA exceeded 2019 levels in FY 2023, growing 97% year-on-year EBITDA (SAR Mn) FY 2023 Margin (%) FY 2023 848 58.1% 45.7% +14% CAGR 43.7% 41.3% 42.9% 23.3% 33.9% 20.4% 25.8% 511 374 430 8.6% 4.6% 8.1% 1.2% -2.2% -28.1% 61 -27% -84% +611% +97% 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
Slide 9: Strong balance sheet dynamic driven by consistent growth of assets
Strong balance sheet dynamic driven by consistent growth of assets SAR Mn FY 2023 FY 2022 YoY % Change Total Assets Movement YoY (SAR Bn) FY 2023 Property, plant & equipment 5,318 3,996 +33% 2022 8.5 Property, plant Assets under construction and development 528 51 +927% & equipment +33% 1.3 Assets u
Slide 10: Prudent borrowing strategy proven by 0.2x net debt to equity
Prudent borrowing strategy proven by conservative 0.2x net debt to equity ratio Net Debt (SAR Mn) FY 2023 Net Debt / Equity (x) FY 2023 +12% CAGR 1,251 0.16 0.18 0.14 0.14 849 0.11 801 750 657 -18% +14% +13% +47% 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Borrowings composition by maturity (%
Slide 11: Healthy Cash Flow supported by working capital improvements and Lumi's IPO
Healthy Cash Flow supported by working capital improvements and Lumi’s IPO YoY % YoY SAR SAR Mn FY 2023 FY 2022 Change Change Cash & Cash Equivalents Movement YoY (SAR Mn) FY 2023 Profit for the period 265 (46) NA 311 +27% Depreciation 369 366 +1% 3 462 1,513 586 Net book value of vehicles disposed
Slide 12: Business Segments
Business Segments Seera Earnings Presentation | 02/04/2024 12
Slide 13: Strong double-digit NBV growth across all business segments
Seera recorded strong double-digit NBV growth across all business segments… Net Booking Value Movement YoY (SAR Mn) FY 2023 Net Booking Value by business segments (%) FY 2023 Hospitality 1.5% Other 3.0% +35% 323 83 147 12,486 Car Rental 8.9% Travel 1,174 1,481 Platform 9,279 UK Travel Investment 60.
Slide 14: Double-digit revenue growth as well
…and double-digit revenue growth as well Revenues - Total Movement YoY (SAR Mn) FY 2023 Total revenue by business segments (%) FY 2023 Other 2.0% +56% Hospitality 5.6% 306 83 21 3,291 UK Travel 323 Travel Platform 25.0% Investment 444 33.8% 2,114 Car Rental 33.6% Revenues - Total Contribution YoY (S
Slide 15: Gross profit also increased in all business segments
Gross profit also increased in all business segments Gross Profit Movement YoY (SAR Mn) FY 2023 Gross Profit composition (%) FY 2023 Other 3.2% +53% Hospitality 6.2% 1,412 Travel 75 153 UK Travel (24) 163 121 Investment 25.3% Platform 924 38.2% Car Rental 27.0% Gross Profit - Total Contribution YoY
Slide 16: 15% growth in operating expenses due to market expansion
15% growth in operating expenses due to market expansion, and UK-based travel investment Operating Expenses Movement YoY (SAR Mn) FY 2023 Operating Expenses Composition (%) FY 2023 +15% Other 13.2% 106 61 13 1,184 Hospitality 5.8% Travel 1,029 27 (53) Car Rental 10.1% Platform UK Travel 45.6% Invest
Slide 17: All key segments positively impacted EBITDA, Car Rental primary driver
All key segments positively impacted EBITDA, with Car Rental being the primary driver EBITDA Movement YoY (SAR Mn) FY 2023 EBITDA composition (%) FY 2023 Travel Platform Other 2.4% +97% 6.1% 148 22 848 Hospitality 10.2% Car 24 166 UK Travel Investment Rental 22.1% 59.3% 430 58 EBITDA - Total Contrib
Slide 18: Segment Overview
Segment Overview Seera Earnings Presentation | 02/04/2024 18
Slide 19: Almosafer Travel Platform: financial performance
Almosafer Travel Platform: financial performance Revenue (SAR Mn) FY 2023 Gross profit (SAR Mn) FY 2023 +30% CAGR +24% CAGR 822 540 515 354 377 488 Almosafer is Saudi Arabia’s Leading Travel Company characterized by an asset-light and scalable business model that serves tourism flows across the Saud
Slide 20: Almosafer Travel Platform: NBV by segments
Almosafer Travel Platform: NBV by segments NBV composition (%) FY 2023 Consumer Travel (SAR Mn) FY 2023 Business Travel (SAR Mn) FY 2023 Hajj & Umrah 1.7% +22% CAGR Destination Mgmt Distribution 2.3% +65% CAGR 1.2% 4,785 2,430 3,903 2,060 1,642 Business Consumer Travel 31.9% Travel 1,756 62.9% +122%
Slide 21: Almosafer Travel Platform: revenue by segments
Almosafer Travel Platform: revenue by segments Revenue composition (%) FY 2023 Consumer Travel (SAR Mn) FY 2023 Business Travel (SAR Mn) FY 2023 Hajj & Umrah Distribution 0.5% 15.8% +51% CAGR -10% CAGR 435 202 Consumer 165 Destination 263 Mgmt 10.6% Travel 190 101 53.0% Business +39% +65% -50% +63%
Slide 22: Almosafer Travel Platform: business performance metrics
Almosafer Travel Platform: business performance metrics Destination Consumer Travel Business Travel Hajj & Umrah Distribution Management Flight Segments Flight Segments Top Inbound Source Top Inbound Source Flight Segments (in millions) (in millions) Markets Markets (in thousands) +17% 5.0 +11% +1,2
Slide 23: Car Rental: financial performance
Car Rental: financial performance Revenue (SAR Mn) FY 2023 Gross profit (SAR Mn) FY 2023 +46% CAGR +52% CAGR 1,106 382 783 260 521 165 +50% +41% +58% +47% 2021 2022 2023 2021 2022 2023 • Lumi Rental Company is a leading car Operating expenses (SAR Mn) FY 2023 EBITDA (SAR Mn) FY 2023 rental and lease
Slide 24: Car Rental: business performance metrics
Car Rental: business performance metrics Revenue (SAR Mn) FY 2023 Fleet size (th vehicles) FY 2023 +46% CAGR +41% CAGR 1,106 33 783 22 370 12 521 17 279 8 389 184 6 299 21 254 11 14 347 205 84 • The Kingdom's top vehicle rental and 2021 2022 2023 2021 2022 2023 leasing business Used Car Sales Lease
Slide 25: UK-based Travel Investment: financial performance
UK-based Travel Investment: financial performance Revenue (SAR Mn) FY 2023 Gross profit (SAR Mn) FY 2023 +113% CAGR 1,112 +113% CAGR 357 669 204 • Portman Travel Group encompasses some 246 78 of the most well-established travel brands in UK and Europe travel sector, including +172% +66% +161% +75% C
Slide 26: UK-based Travel Investment: Business Performance Metrics
UK-based Travel Investment: Business Performance Metrics Net Booking Value (SAR Mn) FY 2023 Three business lines: - Business Travel (Clarity); - Luxury Leisure Travel (Elegant Resort) Sports Travel 749 Business - Sport Travel (Destination Sports Group) +109% vs FY2022 3,128 Travel 1.7M Number of bus
Slide 27: Hospitality: Financial Performance
Hospitality: Financial Performance Revenue (SAR Mn) FY 2023 Gross profit (SAR Mn) FY 2023 88 +111% CAGR 184 101 12 41 (19) +145% +82% 2021 2022 2023 2021 2022 2023 • Eight hotels, including Sheraton Jabal Al Operating expenses (SAR Mn) FY 2023 EBITDA (SAR Mn) FY 2023 Kaaba (Makkah), Movenpick City S
Slide 28: Hospitality: Business Performance Metrics
Hospitality: Business Performance Metrics FY 2023 Room Nights 250.4K +23% Sold vs FY2022 Operational No changes 2,283 comparing to Room Keys FY2022 Revenue Per SAR 303 +43% vs FY2022 Available Room Occupancy 71% +23% vs FY2022 Average +16% SAR 427 vs FY2022 Daily Rate Seera Earnings Presentation | 0
Slide 29: Q&A
Q&A Seera Earnings Presentation | 02/04/2024 29
Slide 30: Seera Investor Relations
Seera Investor Relations investors@seera.sa Seera Earnings Presentation | 02/04/2024
Slide 31: Disclaimer
Disclaimer All information included in this document is for general use only and has not been independently verified, nor does it constitute or form part of any invitation or inducement to engage in any investment activity, nor does it constitute an offer or invitation or recommendation to buy or su