Seera Holding Group · TADAWUL:1810
Seera — Q1 2024 Earnings Presentation
30 slides from Seera's earnings presentation, May 21, 2024
Slide 1: Earnings Presentation 1Q 2024
Earnings Presentation 1Q 2024 Seera Earnings Presentation | 21/05/2024 1
Slide 2: Strong financial results, with growing booking volumes and revenues
Strong financial results, with growing booking volumes and revenues feeding down to bottom-line expansion and improved returns Key Highlights: Net Booking Value - Total NBV composition (%) Revenue 1Q 2024 < < Hospitality 1.6% Other 3.0% 3,433 1,078 • Strong NBV growth driven by Car Rental continued
Slide 3: 1Q 2024 in Review
1Q 2024 in Review Seera Earnings Presentation | 21/05/2024 3
Slide 4: Financial outcomes positively impacted by upturn in travel demand
Financial outcomes were positively impacted by an upturn in travel demand and improvement in key business segments SAR Mn 1Q 2024 1Q 2023 YoY % Change EBITDA (SAR Mn) 1Q 2024 Net booking value 3,433 2,637 +30% +20% Revenue 1,078 794 +36% 197 237 Cost of revenue (618) (483) +28% Gross profit 460 312
Slide 5: Group NBV and revenue driven by growing demand across key sectors
Group NBV and revenue driven by growing demand across key sectors Net Booking Value (SAR Mn) 1Q 2024 Revenue (SAR Mn) 1Q 2024 +30% 3,433 +36% 1,078 2,637 794 1Q 23 1Q 24 1Q 23 1Q 24 Seera Earnings Presentation | 21/05/2024 5
Slide 6: Operating expense dynamics align with revenue growth
Operating expense dynamics align with revenue growth, restrained by strict cost control Operating Expenses (SAR Mn) 1Q 2024 Total Selling Expenses Movement YoY (SAR Mn) 1Q 2024 +29% +38% 352 103 21 6 1 1 132 256 +40% +29% +8% +8% 1Q 23 Employee Advertising Sales Other 1Q 24 220 benefits commission &
Slide 7: Group EBITDA continued growth in 1Q 2024
Group EBITDA continued growth in 1Q 2024 supported by improvement in key segments EBITDA (SAR Mn) 1Q 2024 Margins (%) 1Q 2024 237 42.7% +20% 39.2% 197 24.8% 22.0% 7.0% 4.3% 1Q 23 1Q 24 1Q 23 1Q 24 Net profit Margin Gross Profit Margin EBITDA Margin Seera Earnings Presentation | 21/05/2024 7
Slide 8: Balance sheet expansion driven by asset growth and higher receivables
Balance sheet expansion driven by continued growth of assets and higher receivables SAR Mn 1Q 2024 4Q 2023 YtD % Change Total Assets Movement YTD (SAR Bn) 1Q 2024 11.4 Property, plant & equipment 5,444 5,318 +2% 4Q 23 Assets under construction and development 506 528 -4% Property, plant & equipment
Slide 9: Prudent borrowing strategy with conservative net debt to equity
Prudent borrowing strategy proven by conservative 0.2x net debt to equity ratio Net Debt (SAR Mn) 1Q 2024 Net Debt / Equity (x) 1Q 2024 +13% 0.19 0.19 0.18 0.17 1,060 1,063 1,251 1,200 0.02 155 +0% -85% +706% -4% 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 Borrowings composition by m
Slide 10: Improved cash position in 1Q 2024
Improved cash position in 1Q 2024 driven by strong operational cash flows and strategic investment disposals YoY % YoY SAR SAR Mn 1Q 2024 1Q 2023 Change Change Cash & Cash Equivalents Movement (SAR Mn) 1Q 2024 Profit for the period 61 57 +7% 4 +14% Depreciation 109 93 +17% 16 Net book value of vehic
Slide 11: Business Segments
Business Segments Seera Earnings Presentation | 21/05/2024 11
Slide 12: Strong total NBV expansion supported by Agiito acquisition
Strong total NBV expansion supported by UK Travel Investment’s acquisition of Agiito Net Booking Value Movement YoY (SAR Mn) 1Q 2024 +30% 117 22 78 3,433 624 2,637 (44) Net Booking Value - Total Contribution YoY (SAR Mn) 1Q 2024 1,301 384 55 102 3,433 1,591 -3% +92% +44% +65% +324% Seera Earnings Pr
Slide 13: Continued double-digit revenue growth across all operating segments
Continued double-digit revenue growth across all operating segments Revenue Movement YoY (SAR Mn) 1Q 2024 +36% 22 32 1,078 35 117 79 794 Revenue Contribution YoY (SAR Mn) 1Q 2024 203 55 43 1,078 384 392 +25% +44% +21% +65% +264% Seera Earnings Presentation | 21/05/2024 13
Slide 14: Gross profit expanding in all business segments
Gross profit expanding in all business segments Gross Profit Movement YoY (SAR Mn) 1Q 2024 +48% 16 15 460 19 27 71 312 Gross Profit - Total Contribution YoY (SAR Mn) 1Q 2024 113 26 27 460 145 148 +91% +23% +20% +167% +130% Seera Earnings Presentation | 21/05/2024 14
Slide 15: 38% growth in operating expenses due to market expansion
38% growth in operating expenses due to market expansion and strategic acquisition Operating Expenses Movement YoY (SAR Mn) 1Q 2024 +38% 5 1 4 352 61 25 256 Operating Expenses - Total Contribution (SAR Mn) 1Q 2024 36 18 36 352 121 142 +21% +102% +17% +7% +14% Seera Earnings Presentation | 21/05/2024
Slide 16: All key segments positively impacted EBITDA
All key segments positively impacted EBITDA, with Car Rental being the primary driver EBITDA Movement YoY (SAR Mn) 1Q 2024 +20% 5 5 13 237 33 (16) 197 EBITDA - Total Contribution (SAR Mn) 1Q 2024 36 22 5 9 237 165 +25% +56% +28% +1,473% -64% Seera Earnings Presentation | 21/05/2024 16
Slide 17: Segment Overview
Segment Overview Seera Earnings Presentation | 21/05/2024 17
Slide 18: Almosafer Travel Platform: financial performance
Almosafer Travel Platform: financial performance Revenue (SAR Mn) 1Q 2024 Gross Profit (SAR Mn) 1Q 2024 +21% +23% 203 145 169 118 Almosafer is Saudi Arabia’s Leading Travel Company characterized by an asset-light and scalable business model that serves tourism flows across the Saudi travel ecosystem
Slide 19: Almosafer Travel Platform: NBV by segments
Almosafer Travel Platform: NBV by segments NBV composition (%) 1Q 2024 Consumer Travel (SAR Mn) 1Q 2024 Business Travel (SAR Mn) 1Q 2024 Hajj & Umrah 6.8% +24% Online Distribution 4.9% Destination Mgmt 1,206 558 -71% 2.2% 974 Business Travel 10.3% Consumer 164 Travel 75.8% 1Q 23 1Q 24 1Q 23 1Q 24 On
Slide 20: Almosafer Travel Platform: revenue by segments
Almosafer Travel Platform: revenue by segments Revenue composition (%) 1Q 2024 Consumer Travel (SAR Mn) 1Q 2024 Business Travel (SAR Mn) 1Q 2024 Hajj & Umrah Online Distribution 0.7% +49% -13% 15.4% 114 25 22 Consumer 77 Destination Travel Mgmt 17.0% 56.2% Business Travel 10.8% 1Q 23 1Q 24 1Q 23 1Q
Slide 21: Almosafer Travel Platform: business performance metrics
Almosafer Travel Platform: business performance metrics Destination Consumer Travel Business Travel Hajj & Umrah Online Distribution Management Flight Segments (Mn) Flight Segments1 (Th) Top Inbound Source Markets Top Inbound Source Markets Flight Segments (Th) +28% +16% +180% 84.7 1.4 8.6 10.0 1.1
Slide 22: Car Rental: financial performance
Car Rental: financial performance Revenue (SAR Mn) 1Q 2024 Gross profit (SAR Mn) 1Q 2024 +20% +44% 384 113 95 267 1Q 23 1Q 24 1Q 23 1Q 24 • Lumi Rental Company is a leading car Operating expenses (SAR Mn) 1Q 2024 EBITDA (SAR Mn) 1Q 2024 rental and lease provider in the Kingdom +17% +25% of Saudi Ara
Slide 23: Car Rental: business performance metrics
Car Rental: business performance metrics Revenue (SAR Mn) 1Q 2024 Fleet size (th vehicles) 1Q 2024 +44% +39% 384 34 267 24 127 23 83 115 15 92 142 10 11 92 • The Kingdom's top vehicle rental and 1Q 23 1Q 24 1Q 23 1Q 24 leasing business Used Car Sales Rental Lease Rental Lease Cash flow, operations (
Slide 24: UK-based Travel Investment: financial performance
UK-based Travel Investment: financial performance Revenue (SAR Mn) 1Q 2024 Gross profit (SAR Mn) 1Q 2024 +25% +91% 392 148 313 78 • Portman Travel Group encompasses some of the most well-established travel brands in UK and Europe travel sector, including Clarity , Elegant Resorts and Destination 1Q
Slide 25: UK-based Travel Investment: business performance metrics
UK-based Travel Investment: business performance metrics Net booking value (SAR Mn) 1Q 2024 Three business lines: - Business Travel (Clarity) Sports Travel - Luxury Leisure Travel (Elegant Resort) 218 +54% Business - Sport Travel (Destination Sports Group) vs 1Q 2023 Luxury Leisure Travel 1,301 Trav
Slide 26: Hospitality: financial performance
Hospitality: financial performance Revenue (SAR Mn) 1Q 2024 Gross profit (SAR Mn) 1Q 2024 +65% +167% 55 26 33 10 1Q 23 1Q 24 1Q 23 1Q 24 • Eight hotels, including Sheraton Jabal Al Operating expenses (SAR Mn) 1Q 2024 EBITDA (SAR Mn) 1Q 2024 Kaaba (Makkah), Movenpick City Star +7% (Jeddah), three unb
Slide 27: Hospitality: business performance metrics
Hospitality: business performance metrics 1Q 2024 Room Nights 69.8k +16% Sold vs 1Q 2023 Operational 2,283 No changes Room Keys vs 1Q 2023 Revenue Per SAR 381 +31% Available Room vs 1Q 2023 Occupancy 79% +10 ppts vs 1Q 2023 Average SAR 480 +15% Daily Rate vs 1Q 2023 Seera Earnings Presentation | 21/
Slide 28: Q&A
Q&A Seera Earnings Presentation | 21/05/2024 28
Slide 29: Seera Investor Relations
Seera Investor Relations investors@seera.sa Seera Earnings Presentation | 21/05/2024
Slide 30: 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