| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,028 | 716 | 43.575 | 1,078 | -4.638 |
| Gross Profit (Loss) | 434 | 345 | 25.797 | 460 | -5.652 |
| Operational Profit (Loss) | 110 | 102 | 7.843 | 112 | -1.785 |
| Net profit (Loss) | 70 | 67 | 4.477 | 61 | 14.754 |
| Total Comprehensive Income | 59 | 126 | -53.174 | 121 | -51.239 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 2,106 | 1,473 | 42.973 |
| Gross Profit (Loss) | 894 | 657 | 36.073 |
| Operational Profit (Loss) | 223 | 181 | 23.204 |
| Net profit (Loss) | 131 | 124 | 5.645 |
| Total Comprehensive Income | 180 | 194 | -7.216 |
| Total Shareholders Equity (after Deducting Minority Equity) | 6,754 | 5,619 | 20.199 |
| Profit (Loss) per Share | 0.338 | 0.418 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | – | – | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Seera Group Holdings Achieves SAR 70 million Net Profit before NCI in 2Q 2024
Revenues for 2Q 2024 rose by 44% to SAR 1,028 million, driven by growth in the travel platform, car rental, and hospitality segments, as well as strong performance and acquisitions within the UK-based travel investment. This growth was primarily driven by record-breaking results in consumer travel and growth in direct Hajj initiative operations at Almosafer, strategic acquisitions in Portman, and expansion efforts in Lumi. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit after zakat The company generated a net profit after zakat (before non-controlling interest) of SAR 70 million in Q2 2024 as compared to net profit after zakat (before non-controlling interest) of SAR 67 million, a 4.5% improvement, during the same quarter of previous year, primarily driven by Growth in revenue and maintaining operating cost.
Excluding the impact of below one off item, the company posted a normalized net profit of SAR 70 million for the Q2 2024 Vs net profit of SR 52 million with an improvement of 34% as compared to 2023. ● Income from Careem Holdback of SAR nil million (2023 SAR 14.9 million) Net profit after non controlling interest The company generated a net profit after non-controlling interest of SAR 54 million in Q2 2024 as compared to net profit of SAR 68 million during the same quarter of previous year, a 21% decrease. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Group Revenue decreased by 4.6% in Q2 2024 vs. Q1 2024, achieving SAR 1,028 million in Q2 2024 vs. SAR 1,078 million in Q1 2024 as a result of lesser vehicles sold in line with the de-fleeting strategy of Lumi. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The company generated a net profit after zakat (before non-controlling interest) of SAR 70 million as compared to net profit after zakat (before non-controlling interest) of SAR 61 million during the previous quarter as a result of improved product mix
and higher average margins in the travel platform and hospitality businesses. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenue increased by 43% in 2024 at SAR 2.1 billion vs. SAR 1.47 billion in 2023, this growth was primarily driven by record-breaking results in consumer travel and growth in direct Hajj initiative operations at Almosafer, strategic acquisitions in Portman, and expansion efforts in Lumi. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The company generated a net profit after zakat (before non-controlling interest) of SAR 131 million in 2024 as compared to net profit after zakat (before non-controlling interest) of SAR 124 million during the previous period of 2023.
Excluding the impact of below one off item, the company posted a normalized net profit of SAR 131 million for the period 2024 vs net profit of SR 97 million with an improvement of 35% as compared to 2023. ● Income from Careem Holdback of SAR nil ( 2023: SAR 14.9 million) ● Reversal of impairment loss of SAR nil (2023: SAR 12 million) |
| Statement of the type of external auditor’s report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | N/A |
| Additional Information | 1. The revenue for the current quarter is SAR 1,028 million as compared to SAR 716 million during the same quarter of previous year showing an increase of 44%. Revenue for the current period is SAR 2,106 million as compared to SAR 1,473 million showing an increase of 43%.
2. The gross profit for the current quarter is SAR 434 million as compared to SAR 345 million during the same quarter of previous year with an increase of 26%. The gross profit for the current period is SAR 894 million as compared to SAR 657 million during the same period of previous year with an increase of 36%. 3. The operating profit for the current quarter is SAR 110 million as compared to a profit of SAR 102 million for the same quarter of previous year showing an improvement of 8%.The operating profit for the current period is SAR 223 million as compared to a profit of SAR 181 million during the same period of previous year with an improvement of 23%. 4. The net profit after zakat and tax before non controlling interest for the current quarter is SAR 70 million as compared to net profit of SAR 67 million for the same quarter of previous year showing an improvement of 4.5%. The net profit after non controlling interest for the current quarter is SAR 54 million as compared to net profit of SAR 68 million for the same quarter of previous year with a decrease of 21%. The net profit after zakat and tax before non controlling interest for the current period is SAR 131 million as compared to net profit of SAR 124 million for the same period of previous year showing an improvement of 6%. The net profit after non controlling interest for the current period is SAR 100 million as compared to net profit of SAR 124 million for the same period of previous year with a decrease of 19%. 5. The total comprehensive income for the current quarter before non controlling interest is SAR 59 million as compared to total comprehensive income of SAR 126 million for the same quarter of previous year decreased by 53%. The total comprehensive income after non controlling interest for the current quarter is SAR 43 million as compared to total comprehensive income of SAR 128 million for the same quarter of previous year showing an decrease of 66%. The total comprehensive income for the current period before non controlling interest is SAR 180 million as compared to total comprehensive income of SAR 194 million for the same period of previous year decreased by 7%. The total comprehensive income after non controlling interest for the current period is SAR 150 million as compared to total comprehensive income of SAR 195 million for the same period of previous year showing an decrease of 23%. 6. Earnings per share for the current quarter is SR 0.18 as compared to earnings per share of SR 0.23 for the same quarter of previous year. Earnings per share for the current period is SR 0.34 as compared to loss per share of SR 0.42 for the same period of previous year. 7.The shareholders equity (without non controlling interest) as at the end of the current period is SAR 6,754 million as compared to SAR 5,619 million in the same period of previous year (without non-controlling interest) increased by 20%. For additional information, please refer to the attachment. |
| Attached Documents |  |
