Seera Holding Group · TADAWUL:1810
Seera — Q1 2023 Earnings Presentation
46 slides from Seera's earnings presentation, May 2023
Slide 1: SEERA Holding Group Earnings Presentation Q1 2023
SEERA Holding Group Earnings Presentation | Q1 2023
Slide 2: Financial Updates
yw SEERA Financial Updates Q1 2023
Slide 3: Group-wide Financials
Group-wide Financials
Slide 4: Income Statement – Group-wide
Income Statement – Group-wide (SAR Mn) Q1 '22 Q1 '23 +59% GBV 2,680 1,687 +61% Seera Group Revenue 493 794 posted net +93% income of Gross Profit 162 312 SAR 55Mn in +10% Q1 2023 Operating Expenses 233 256 +242% Operating 78 Profit/(Loss) -55 +188% Net 55 Profit/(Loss) -63 4
Slide 5: Positive EBITDA of SAR 198Mn for Q1 2023
Seera has generated positive EBITDA of SAR 198Mn for the Q1 2023 EBITDA – Group-wide (SAR Mn) +281% 52 198 102 98 64 32 11 -57 Profit before Finance Depreciation EBITDA Loss before Finance Depreciation EBITDA Zakat and Tax Charges, Net & Amortization Zakat and Tax Charges, Net & Amortization Q1 ’22
Slide 6: Strong financial position through healthy liquidity and leverage
Maintaining a strong financial position through healthy liquidity and leverage levels Total Assets (SAR Mn) Total Equity and Liabilities (SAR Mn) 8,813 8,813 8,526 0 8,526 2 588 Due from related parties Trade and other payables 521 1,036 427 Prepayments & Advances 1,071 Short term bank debts 539 Cas
Slide 7: Business Segment Financials
Business Segment Financials
Slide 8: Travel Platform Income Statement
Travel Income Statement – Travel Platform (SAR Mn) Platform Q1 '22 Q1 '23 +52% GBV 1,099 1,668 +27% 133 169 Revenue With scale-up in booking volume, posted +74% EBITDA of SAR 0.3 Gross Profit 68 118 million in Q1 2023, a 101% improvement Operating +11% relative to Q1 2022, Expenses 106 117 (exclude
Slide 9: Travel Platform GBV & Revenue by Business Line
Gross Booking Value & Revenue – By Business Line (SAR Mn) Travel Gross Booking Value Revenue Platform Overall Q1 ’23 60% 34% 5% 1,668 45% 15% 25% 15% 169 1% Q1 ’22 58% 36% 1,099 35% 17% 38% 10% 133 5% 1% Q1 ’23 1,002 77 Consumer +58% +63% CONSUMER TRAVEL: Travel Q1 ’22 636 47 Experienced a strong qu
Slide 10: Car Rental Income Statement
Car Income Statement – Car Rental (SAR Mn) Q1 '22 Q1 '23 Rental +61% 267 Revenue 166 +61% Continued its rapid Gross Profit 59 95 growth trajectory, achieved EBITDA of SAR 132 million, a 27% Operating +91% 23 growth relative to SAR Expenses 12 (exclude D&A) Q1 2022 +27% 103 132 EBITDA Source: Managem
Slide 11: Car Rental Revenue by Business Line
Revenue – By Business Line (SAR Mn) Car Revenue Rental Overall Q1 ’23 31% 34% 35% 267 Q1 ’22 41% 37% 22% 166 Q1’ 23 83 Lease +22% LEASE: Continued to leverage a Q1’ 22 68 robust contract pipeline for corporate & government clients. 92 RENTAL: Scaled across both B2B Rental Q1’ 23 +49% and B2C segment
Slide 12: Hospitality Income Statement
Hospitality Income Statement – Hospitality (SAR Mn) Q1 '22 Q1 '23 +73% 33 Revenue 19 +14744% Led by healthy 10 Gross Profit occupancy levels -0.07 across hotels, achieved EBITDA of +18% Operating SAR 17 million in Q1 Expenses 13 16 2023, a significant (exclude D&A) improvement over a loss in Q1 2022
Slide 13: Portman Travel Group Income Statement
Portman Income Statement – Portman Travel Group (SAR Mn) Travel Group Q1 '22 Q1 '23 +79% GBV 677 379 +71% 313 Revenue 183 Exhibited growth across all verticals, +94% driven by global travel Gross Profit 78 40 demand, achieved EBITDA of SAR 23 Operating +35% million in Q1 2023, a Expenses 40 54 turna
Slide 14: Contribution by Segment Q1 2023
Financial updates Contribution by Segment Q1 2023
Slide 15: Gross Booking Value by Business Segment
Gross booking value has grown significantly, primarily driven by the Travel Platform and Portman Travel Group Gross Booking Value – By Business Segment (SAR Mn) Business Segment % Growth +59% 2,680 Travel Platform 52% 1,687 1,668 Car Rental 61% Hospitality 73% 1,099 267 79% 33 Portman Travel 19 166
Slide 16: Revenue by Business Segment
Revenue reflecting remarkable growth of Portman, followed by Car Rental and Travel Platform Revenue – By Business Segment (SAR Mn) Business Segment % Growth +61% 794 169 Travel Platform 27% 493 Car Rental 61% 267 133 Hospitality 73% 33 166 19 Portman Travel 71% 313 183 Others 59% 14 22 -22 -10 Q1 ’2
Slide 17: Gross Profit by Business Segment
Gross profit levels reflect changes in revenue contribution by each segment, primary contribution by Travel Platform Gross Profit – By Business Segment (SAR Mn) Business Segment % Growth +92% 312 Travel Platform 80% 123 Car Rental 59% 162 68 95 Hospitality 14744% 59 10 94% Portman Travel 78 40 0 13
Slide 18: GBV, Revenue and Gross Profit – Group-wide
Gross Booking Value, Revenue and Gross Profit – Group-wide (SAR Mn) +59% GBV 2,680 1,687 Gross profit impacted by large revenue Revenue +61% 794 contribution 493 22% 22% from units Commission (Agent) Other Revenue (Principal) 78% 78% acting as principal +93% 312 162 Gross Profit Q1 ’22 Q1 ’23 Note:
Slide 19: Operating Expenses by Business Segment
Maintained minimal operating expense levels group-wide, despite significant growth in topline Operating Expenses (exclude D&A) – By Business Segment (SAR Mn) Business Segment % Growth +12% 239 214 Travel Platform 11% 117 106 Car Rental 88% Hospitality 18% 12 23 13 16 40 Portman Travel 35% 54 43 29 O
Slide 20: EBITDA by Business Segment
Seera posted positive group-wide EBITDA with positive contributed from all business segments EBITDA – By Business Segment (SAR Mn) +279% Business Segment % Growth 198 0 Travel Platform 101% 132 Car Rental 27% 52 Hospitality 590% 103 17 23 26 Portman Travel 1547% -32 -2 -3 Others 286% -14 Q1 ’22 Q1 ’
Slide 21: Appendix: Definitions
Appendix: Definitions Illustrative Income Statement Item Details Agent Principal Represents the total value of transactions booked, recorded at the time of Gross Booking Value (GBV) Gross Booking Value (GBV) Gross Booking Value (GBV) booking reflecting the total price due for travel by travelers, in
Slide 22: Business Updates
yw SEERA Business Updates Q1 2023
Slide 23: Travel Platform
Travel Platform
Slide 24: Consumer Travel
Consumer Travel Consumer Travel experienced another record quarter of growth, with strong rebound of travel demand across domestic and international bookings Key Performance Measures Flight Room Sessions on Segments Nights Platform 1.1M 478K 23M For Q1 2023 For Q1 2023 For Q1 2023 +52% vs. Q1 ‘22 +4
Slide 25: Business Travel
Business Travel Business Travel continued to renew existing contracts and onboarded corporate and government sector clients to the digital travel management portal Key Performance Measures Business Trips Managed 151k For Q1 2023 +6% vs. Q1 ‘22 Key Accounts (non-exhaustive) Gov’t Entities... Universi
Slide 26: Destination Management
Destination Management Destination management growth driven by inbound visits from GCC and international markets with high length of stay across popular destinations in the Kingdom Key Performance Measures Key Events Supported Average Length of Stay • Future Minerals 5.6 nights Forum For Q1 2023 • D
Slide 27: Hajj & Umrah
Hajj & Umrah Hajj & Umrah experiencing significant recovery post closure of Umrah and eased visa regulations alongside interest emerging from new source markets Key Performance Measures Number of Pilgrims Average Length of Stay 18.4k pilgrims 4.4 nights For Q1 2023 For Q1 2023 Room Nights 35.5k nigh
Slide 28: Car Rental
Car Rental
Slide 29: Car Rental
Car Rental Continued its rapid growth pace and scaling both lease & rental fleet while maintaining a competitive purchase price recovery. Key Performance Measures Total Fleet 24.4k For Q1 2023 +39% vs. Q1 ‘22 Lease Fleet Rental Fleet 14.7k 9.7k For Q1 2023 For Q1 2023 +26% vs. Q1 ‘22 +65% vs. Q1 ‘22
Slide 30: Lease
Lease Building a pipeline of future revenue and fleet growth through lease agreements with corporate & government clients. Key Performance Measures Residual Q1 ‘23 Q1‘22 +34% vs. Q1 ‘23 Contract SAR 597Mn SAR 447Mn Value Number of Q1 ‘23 Q1 ‘22 +14% vs. Q1 ‘23 Active 12.5K 11K Agreements Source: Man
Slide 31: Rental
Rental Leveraged extensive branch network across the Kingdom and immense growth in digital rental to maintain high utilization levels of the rental fleet Key Performance Measures Rental 35 Branches (14 airport and across KSA As at 31st March, 2023 21 city branches) Utilization Q1 ‘23 Rate 67% B2C Di
Slide 32: Rental (contd.)
Rental (contd.) Leveraged extensive branch network across the Kingdom and immense growth in digital rental to maintain high utilization levels of the rental fleet Key Performance Measures Rental Revenue Contribution by B2B vs. B2C (SAR Mn) +49% 92 49 62 (53%) 33 (54%) 43 28 (47%) B2B (46%) B2C Q1 ’2
Slide 33: Used Car Sales
Used Car Sales Ensured effective fleet turnover to keep the fleet young & efficient while maintaining a competitive purchase price recovery Key Performance Measures Total Q1 ‘23 Vehicles Sold +111% vs. Q1 ‘22 1.3k Purchase Q1 ‘23 Price 73% Recovery Average Q1 ‘23 Vehicle Age 36.5 Months Source: Mana
Slide 34: Hospitality
[jaw SEERA Hospitality AS (2CHOICE moévenpick HOTELS
Slide 35: Hospitality
Hospitality Hospitality growth in line with increased demand from religious pilgrims for properties in Makkah and the ramp up of the Choice Hotels in Jeddah and Riyadh Key Performance Measures Q1 ‘23 Q1 ‘22 Room Nights +27% vs. Q1 ‘22 Sold 60K 43.7k Q1 ‘23 Q1 ‘22 Across 8 properties in Operational M
Slide 36: Seera operates 8 hotels with 1,055 branded room keys
Seera operates 8 hotels with 1,055 branded room keys, of which 40% are new, and 1,230 unbranded pilgrims-focused keys 90 553 200 125 Comfort 228 Suites Olaya Total Clarion Comfort Movenpick Airport King Road City Star Makkah Riyadh 138 Mn Jeddah 1,642 491 547 192 412 Alinma Hospitality REIT Total Sh
Slide 37: Portman Travel Group
Portman Travel Group
Slide 38: Portman Travel Group
Portman Travel Group Maintained leadership position in the corporate travel sector while becoming significant force in luxury leisure and sports travel space Key Performance Measures Business Travel Top 10 UK travel management Ranking company Luxury Leisure Travel Loyalty Program Chairman’s Club wit
Slide 39: Appendix
Appendix
Slide 40: Our Journey So Far
[jaw SEERA Our Journey So Far
Slide 41: Evolution from corporate travel company to diversified portfolio
Since the launch of the transformation, Seera evolved from a corporate travel company to a diversified portfolio of market leaders A corporate travel company reliant on …to a portfolio of leading travel & government travel… tourism companies 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Exp
Slide 42: Seera has emerged stronger and created market leaders in travel & tourism
Today, Seera has emerged stronger and created market leaders in the travel & tourism industry that are ready to create value for shareholders Consumer Travel Business Travel Destination Mgmt. Hajj & Umrah Travel Platform Car Rental Hospitality Investments • Asset-light, scalable, platform-based busi
Slide 43: Lumi application to CMA for an IPO
Announced 29-03-2023 Seera Group and the Car Rental unit, Lumi’s, application to CMA for an IPO of 30% of the Company's share capital has been approved post approval of demerger by Seera shareholders. The Company’s prospectus will be published within sufficient time prior to the start of the subscri
Slide 44: Contribution to establishment of Alinma Hospitality REIT
Seera Group contributed to the establishment of the Alinma Hospitality REIT through three newly developed Choice branded assets Announced REIT to reduce asset burden while continuing to operate and generate profit from hotel properties 30-01-2023 Comfort King Road Clarion Hotel Comfort Olaya Seera h
Slide 45: PIF non-binding term sheet to invest in Almosafer
Announced The Public Investment Fund has signed a non-binding term 13-09-2022 sheet with Seera Group to invest up to SAR 1.554Bn* for a 30% ownership stake in Almosafer 70% 30% Pre-money Cash injection of up Enterprise Value of to SAR 1.554Bn* SAR 3.75Bn* into Almosafer Travel Platform Consumer Trav
Slide 46: Thank you.
Thank you. www.seera.sa