Seera Holding Group · TADAWUL:1810
Seera — Q1 2024 Earnings Presentation
34 slides from Seera's earnings presentation, May 2024
Slide 1: Investor Presentation
Investor Presentation Focus on portfolio monetization and shareholder returns Seera Investor Presentation | 1Q 2024 1
Slide 2: Contents
Contents Group Overview and Strategy 03 1Q 2024 Financial Overview 07 Business Segment Updates 12 New Investments 30 Seera Investor Presentation | 1Q 2024 2
Slide 3: Group Overview and Strategy
Group Overview and Strategy Seera Investor Presentation | 1Q 2024 3
Slide 4: Strategy Pillars
Seera Group: driving the future through portfolio monetization and shareholder returns Strategy Pillars 2024+ Operate as an engaged investor and steward of companies, governing 2019-2023 • Monetizing portfolio with strong influence and • Successful assets through various expertise restructuring of a
Slide 5: Seera Group continues to unlock value for shareholders through a growing and unique portfolio
Seera Group continues to unlock value for shareholders through a growing and unique portfolio that retains core holdings CENTRAL Travel Platform Car Rental UK-based Travel Hospitality Investments Investment Portfolio Non-strategic, Strategic / Non- Strategic, Core Strategic, Core Strategic, Non-core
Slide 6: Capital allocation strategy focused on maximizing free cash flow per share
Capital allocation strategy focused on maximizing free cash flow per share Deleveraging New investment Share buy-back the balance sheet Opportunities program Minimize balance sheet debt Target opportunities offering Execute a share buy-back and prioritize financial stability at least a 15% Internal
Slide 7: 1Q 2024 Financial Overview
1Q 2024 Financial Overview Seera Investor Presentation | 1Q 2024 7
Slide 8: Strong financial results, with growing booking volumes and revenues feeding down to bottom-line expansion
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 9: Financial outcomes were positively impacted by an 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 10: Balance sheet expansion driven by continued growth of assets 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 11: Improved cash position in 1Q 2024 driven by strong operational cash flows
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 12: Business Segment Updates
Business Segment Updates Seera Investor Presentation | 1Q 2024 12
Slide 13: Almosafer Travel Platform
Almosafer Travel Platform Seera Investor Presentation | 1Q 2024 13
Slide 14: Almosafer leverages an asset-light and scalable business model
Almosafer leverages an asset-light and scalable business model serving tourist flows across the Saudi travel ecosystem Destination Consumer Travel Business Travel Hajj & Umrah Online Distribution Management B2C | Leisure & Religious | B2B | Business | B2B | Religious | B2B | Leisure & MICE | B2B | L
Slide 15: Almosafer continues to partner with key players within the Saudi tourism ecosystem
Despite the cessation of the PIF investment, Almosafer continues to partner with key players within the tourism ecosystem of Saudi Arabia Non-exhaustive Inaugural partner of the Partner with developer behind Strategic partnership to Kingdom’s new carrier tourism destinations The Red leverage Almosaf
Slide 16: 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 Despite slight decrease in net booking value due to the directive of the Ministry of Finance, which mandated government flight bookings be booked directly through the gov
Slide 17: Almosafer to end FY 2024 with improved take-rates and continued profitability
In spite of SAR 2Bn loss in government flights NBV, Almosafer to end FY 2024 with improved take-rates and continued profitability Net booking value (SAR Mn) Revenue (SAR Mn) Gross profit (SAR Mn) EBITDA (SAR Mn) -5.0%-0% 15%-20% 10%-15% 15%-20% 2024F YoY% Growth 2024F YoY% Growth 2024F YoY% Growth 2
Slide 18: 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 19: 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 20: 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 21: Almosafer Travel Platform: achievements and growth initiatives
Almosafer Travel Platform: achievements and growth initiatives across key business segments Grew in new markets: Qatar, Launched new streams to enhance Ad Platform for Hotels and Tourism Bahrain & Oman with expected margins: online check-in, travel Boards launched in Q2 2024 to NBV of SAR 75M FY 202
Slide 22: Consumer Travel: healthy results in performance metrics
Consumer Travel: healthy results in performance metrics, maintaining leadership position in main markets Non-air Share (% of booking value) 1Q 2024 Unpaid Share (% of booking value)1 1Q 2024 OTA Flight Market Share (% of segments)3 1Q 2024 +5 ppts +6 ppts 34% 77% 83% Rank 29% KSA 71% #1 KSA >35% 75%
Slide 23: Other Business Segments
23 Other Business Segments
Slide 24: 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 25: 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 26: 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 27: 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 28: 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 29: 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 Investor Presentation | 1Q
Slide 30: New Investments
New Investments Seera Investor Presentation | 1Q 2024 30
Slide 31: Kayanat Central business park (1/2)
Kayanat Central business park (1/2) Seera Group is the primary investor in a Kayanat is located in the northern region of Riyadh at the private real estate fund to develop the Intersection of Abu Bakr Al Siddiq and Anas Bin Malik Kayanat Central business park strategically roads, with access to othe
Slide 32: Kayanat Central business park (2/2)
Kayanat Central business park (2/2) Kayanat is being built on 100,000 SQM as Land Use Overview Offices an integrated mixed-use development incorporating offices, retail and hotel Offices - Retail components Mosque Retail 100,000 Hotel Land Area (SQM) 350,000+ Expected Built-up Area (SQM) • Completed devel
Slide 33: Seera Investor Relations
Seera Investor Relations investors@seera.sa Seera Investor Presentation | 1Q 2024
Slide 34: 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