Seera Holding Group · TADAWUL:1810
Seera — 1H 2024 Earnings Presentation
26 slides from Seera's earnings presentation, Aug 13, 2024
Slide 1: Earnings Presentation 1H 2024
Earnings Presentation 1H 2024 Seera Earnings Presentation | 13/08/2024 1
Slide 2: Strong financial results driven by growing booking volumes and revenues
Strong financial results driven by growing booking volumes and revenues, leading to bottom-line expansion and improved returns Key Highlights: Net Booking Value 1H 2024 NBV composition (%) Revenue 1H 2024 < < Hospitality 1.6% Other 2.7% 7,332 2,106 • NBV growth driven by expansion Car Rental in all
Slide 3: 1H 2024 in Review
1H 2024 in Review Seera Earnings Presentation | 13/08/2024 3
Slide 4: Financial results benefited from increased travel demand and improvements in key business segments
Financial results benefited from increased travel demand and improvements in key business segments YoY % YoY % SAR Mn 1H 2024 1H 2023 2Q 2024 2Q 2023 Change Change EBITDA (SAR Mn) 1H 2024 Net booking value 7,332 5,878 +25% 3,898 3,241 +20% +16% Revenue 2,106 1,473 +43% 1,028 716 +44% +14% 416 482 Co
Slide 5: Group NBV and revenue driven by growing demand across key sectors and strategic M&A
Group NBV and revenue driven by growing demand across key sectors and strategic M&A Net Booking Value (SAR Mn) 1H 2024 Revenue (SAR Mn) 1H 2024 +25% +43% 7,332 2,106 5,878 +20% +44% 1,473 3,898 3,241 1,028 716 2Q 23 2Q 24 1H 23 1H 24 2Q 23 2Q 24 1H 23 1H 24 Seera Earnings Presentation | 13/08/2024 5
Slide 6: Operating expense dynamics slower than revenue growth, restrained by strict cost control
Operating expense dynamics slower than revenue growth, restrained by strict cost control Operating Expenses (SAR Mn) 1H 2024 Total Selling Expenses Movement YoY (SAR Mn) 1H 2024 +30% 209 33 19 9 2 272 +33% 712 +31% +40% +33% +8% 1H 23 Employee Advertising Sales Other 1H 24 537 benefits commission +2
Slide 7: Strong balance sheet and prudent borrowing strategy proven by conservative debt levels
Strong balance sheet and prudent borrowing strategy proven by conservative debt levels SAR Mn 2Q 2024 1Q 2024 QoQ % Change Net Debt / Equity (x) 2Q 2024 Property, plant & equipment 5,336 5,444 -2% 0.19 0.18 0.17 0.16 Assets under construction and development 551 506 +9% 0.02 Investments 661 681 -3%
Slide 8: Improved cash position in 1H 2024 driven by strong operational cash flows
Improved cash position in 1H 2024 driven by strong operational cash flows and strategic investment disposals SAR Mn 1H 2024 1H 2023 YoY % Change Cash & Cash Equivalents Movement (SAR Mn) 1H 2024 Profit for the period 131 124 +6% +23% Depreciation 229 193 +19% Net book value of vehicles disposed 235
Slide 9: Business Segments
Business Segments Seera Earnings Presentation | 13/08/2024 9
Slide 10: Strong total NBV and Revenue expansion driven by organic growth and strategic acquisitions
Strong total NBV and Revenue expansion driven by organic growth and strategic acquisitions Net Booking Value Movement YoY (SAR Mn) 1H 2024 Revenue Movement YoY (SAR Mn) 1H 2024 +25% +43% 7,332 2,106 5,878 1,230 244 15 1,473 173 197 244 15 3 (5) (31) -1% +90% +49% +16% -2% +49% +41% +49% +16% +8% Net
Slide 11: Gross profit and EBITDA expanding in all business segments
Gross profit and EBITDA expanding in all business segments Gross Profit Movement YoY (SAR Mn) 1H 2024 EBITDA Movement YoY (SAR Mn) 1H 2024 +36% +16% 894 482 657 133 54 36 12 3 416 23 14 73 8 (52) +88% +21% +21% +24% +12% +63% +66% +27% +19% -124% Gross Profit - Total Contribution YoY (SAR Mn) 1H 202
Slide 12: Segment Overview
Segment Overview Seera Earnings Presentation | 13/08/2024 12
Slide 13: Almosafer Travel Platform: financial performance
Almosafer Travel Platform: financial performance Revenue (SAR Mn) 1H 2024 Gross Profit (SAR Mn) 1H 2024 +21% +49% 527 +19% 313 +74% 259 324 355 168 Almosafer is Saudi Arabia’s Leading Travel 141 Company characterized by an asset-light and 186 scalable business model that serves tourism flows across
Slide 14: Almosafer Travel Platform: NBV by segments
Almosafer Travel Platform: NBV by segments NBV composition (%) 1H 2024 Consumer Travel (SAR Mn) 1H 2024 Business Travel (SAR Mn) 1H 2024 Hajj & Umrah 6.7% +26% Online Distribution 4.5% Destination Mgmt +28% 2,913 1,201 -77% 2.2% 2,311 Business -83% 1,707 643 Travel 7.4% Consumer 1,337 Travel 110 274
Slide 15: Almosafer Travel Platform: revenue by segments
Almosafer Travel Platform: revenue by segments Revenue composition (%) 1H 2024 Consumer Travel (SAR Mn) 1H 2024 Business Travel (SAR Mn) 1H 2024 Online Distribution 0.6% +60% Hajj & Umrah 276 57 -28% 27.4% +69% Consumer -40% 41 162 172 Travel 32 52.4% 95 19 Destination Mgmt 11.8% Business Travel 7.8
Slide 16: Almosafer Travel Platform: business performance metrics
Almosafer Travel Platform: business performance metrics Destination Consumer Travel Business Travel Hajj & Umrah Distribution Management Flight Segments (Mn) Flight Segments1 (Th) Top Inbound Umrah Markets Top Inbound Source Markets Flight Segments (Th) +34% +22% +133% 1.7 34.9 81.3 1.3 28.5 0.5 34.
Slide 17: Driving Almosafer's growth: strategic adaptations in response to market changes
Driving Almosafer’s growth: strategic adaptations in response to market changes 2021-2023 2024F 2025F 2027F Performance Guidance Previous guidance New guidance (SAR Mn) SAR 7.2 – 7.6 billion SAR 12 billion +48% CAGR Net booking value Net booking value 7,608 6,127 Net Booking -5% - 0% SAR 10 billion
Slide 18: Car Rental: financial performance
Car Rental: financial performance Revenue (SAR Mn) 1H 2024 Gross profit (SAR Mn) 1H 2024 +21% +49% 745 209 +55% +22% 173 500 360 95 78 233 2Q 23 2Q 24 1H 23 1H 24 2Q 23 2Q 24 1H 23 1H 24 • Lumi Rental Company is a leading car Operating expenses (SAR Mn) 1H 2024 EBITDA (SAR Mn) 1H 2024 rental and lea
Slide 19: Car Rental: business performance metrics
Car Rental: business performance metrics Revenue (SAR Mn) 1H 2024 Fleet size (th vehicles) 1H 2024 +29% +49% +1% 745 -1% +55% 500 33 34 34 260 360 26 232 172 229 21 23 23 134 16 173 89 114 81 256 12 11 11 113 155 10 62 • The Kingdom's top vehicle rental and 2Q 23 2Q 24 1H 23 1H 24 2Q 23 4Q 23 1Q 24
Slide 20: UK-based Travel Investment: financial performance
UK-based Travel Investment: financial performance Revenue (SAR Mn) 1H 2024 Gross profit (SAR Mn) 1H 2024 +41% +88% 681 284 +39% +84% 484 136 151 289 • Portman Travel Group encompasses some 208 74 of the most well-established travel brands in UK and Europe travel sector, including Clarity , Elegant R
Slide 21: UK-based Travel Investment: business performance metrics
UK-based Travel Investment: business performance metrics Net booking value (SAR Mn) 1H 2024 Three business lines: - Business Travel (Clarity) Sports Travel - Luxury Leisure Travel (Elegant Resort) 418 +40% Business - Sport Travel (Destination Sports Group) vs 1H 2023 Luxury Leisure Travel 2,593 Trav
Slide 22: Hospitality: financial performance
Hospitality: financial performance Revenue (SAR Mn) 1H 2024 Gross profit (SAR Mn) 1H 2024 +16% +24% -9% 114 61 98 49 -12% 65 59 39 34 2Q 23 2Q 24 1H 23 1H 24 2Q 23 2Q 24 1H 23 1H 24 • Eight hotels, including Sheraton Jabal Al Operating expenses (SAR Mn) 1H 2024 EBITDA (SAR Mn) 1H 2024 Kaaba (Makkah)
Slide 23: Hospitality: business performance metrics
Hospitality: business performance metrics 2Q 2024 Room Nights 66.0k +3% Sold vs 2Q 2023 Operational 2,283 No changes Room Keys vs 2Q 2023 Revenue Per SAR 434 +6% Available Room vs 2Q 2023 Occupancy 75% +2 ppts vs 2Q 2023 Average SAR 577 +2% Daily Rate vs 2Q 2023 Seera Earnings Presentation | 13/08/2
Slide 24: Q&A
Q&A Seera Earnings Presentation | 13/08/2024 24
Slide 25: Seera Investor Relations
Seera Investor Relations investors@seera.sa Seera Earnings Presentation | 13/08/2024
Slide 26: 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