Al Tayyar turns to SAR 142 mln loss in 2018

27/02/2019 Argaam Exclusive

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Share Price

Seera Group Holding (SEERA)

Al Tayyar Travel Group Holding Co. posted a net loss after zakat and tax of SAR 142 million for fiscal year 2018, compared to a net profit of SAR 489 million a year earlier.

The loss was attributed to lower revenue from core government business due to change in terms with major clients, loss on disposal of equity investments, competitive pricing, and a change in product mix and margin.

Financials (M)

Item	2017	2018	Change‬
Revenues	2,107.02	2,301.33	9.2 %
Gross Income	1,603.08	1,427.01	(11.0 %)
Operating Income	775.43	580.76	(25.1 %)
Net Income	496.80	(144.96)	(129.2 %)
Average Shares	300.00	300.00	-
EPS (Riyals)	1.66	(0.48)	(129.2 %)

Current Quarter Comparison (M)

Compared With The

Item	Q4 2017	Q4 2018	Change‬
Revenues	577.87	565.42	(2.2 %)
Gross Income	466.87	311.88	(33.2 %)
Operating Income	186.52	113.37	(39.2 %)
Net Income	16.36	17.66	7.9 %
Average Shares	300.00	300.00	-
EPS (Riyals)	0.05	0.06	7.9 %

Item	Q3 2018	Q4 2018	Change‬
Revenues	615.12	565.42	(8.1 %)
Gross Income	354.66	311.88	(12.1 %)
Operating Income	144.80	113.37	(21.7 %)
Net Income	(355.41)	17.66	105.0 %
Average Shares	300.00	300.00	-
EPS (Riyals)	(1.18)	0.06	105.0 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2009	-	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-	-
2009	3,068.99	10.7 %	647.26	39.8 %	395.72	41.7 %	1.38
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	3,824.22	24.6 %	889.76	37.5 %	496.31	25.4 %	1.73
Q1 2011	-	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-	-
Q3 2011	1,103.48	-	249.93	-	174.23	-	0.61
Q4 2011	1,254.91	-	217.35	-	113.07	-	0.40
2011	4,607.41	20.5 %	1,029.35	15.7 %	611.98	23.3 %	2.14
Q1 2012	1,352.82	-	241.76	-	152.87	-	0.53
Q2 2012	1,407.64	-	370.46	-	243.96	-	0.85
Q3 2012	1,300.42	17.8 %	289.76	15.9 %	201.34	15.6 %	0.70
Q4 2012	1,329.07	5.9 %	246.57	13.4 %	157.21	39.0 %	0.55
2012	5,389.95	17.0 %	1,148.55	11.6 %	755.37	23.4 %	2.64
Q1 2013	1,554.96	14.9 %	301.55	24.7 %	217.90	42.5 %	0.76
Q2 2013	1,670.42	18.7 %	402.69	8.7 %	336.18	37.8 %	1.17
Q3 2013	1,441.91	10.9 %	298.39	3.0 %	214.87	6.7 %	0.75
Q4 2013	1,592.99	19.9 %	338.79	37.4 %	208.27	32.5 %	0.73
2013	6,260.27	16.1 %	1,341.42	16.8 %	977.22	29.4 %	3.41
Q1 2014	1,790.31	15.1 %	363.26	20.5 %	280.00	28.5 %	0.98
Q2 2014	1,977.95	18.4 %	476.19	18.3 %	363.69	8.2 %	1.27
Q3 2014	1,759.46	22.0 %	375.62	25.9 %	243.77	13.5 %	0.85
Q4 2014	2,185.93	37.2 %	408.06	20.4 %	231.47	11.1 %	0.81
2014	7,711.37	23.2 %	1,620.86	20.8 %	1,118.93	14.5 %	3.91
Q1 2015	2,152.58	20.2 %	441.08	21.4 %	285.63	2.0 %	1.00
Q2 2015	2,386.89	20.7 %	545.42	14.5 %	395.55	8.8 %	1.38
Q3 2015	1,906.81	8.4 %	387.72	3.2 %	265.12	8.8 %	0.93
Q4 2015	2,184.77	(0.1 %)	416.77	2.1 %	215.26	(7.0 %)	0.75
2015	8,631.04	11.9 %	1,800.33	11.1 %	1,161.56	3.8 %	4.06
Q1 2016	534.96	(75.1 %)	402.93	(8.6 %)	191.05	(33.1 %)	0.64
Q2 2016	621.39	(74.0 %)	525.22	(3.7 %)	296.85	(25.0 %)	0.99
Q3 2016	523.45	(72.5 %)	384.37	(0.9 %)	186.84	(29.5 %)	0.62
Q4 2016	464.67	(78.7 %)	358.07	(14.1 %)	139.03	(35.4 %)	0.46
2016	2,144.47	(75.2 %)	1,670.60	(7.2 %)	813.77	(29.9 %)	2.71
Q1 2017	466.62	(12.8 %)	346.59	(14.0 %)	136.73	(28.4 %)	0.46
Q2 2017	573.51	(7.7 %)	435.40	(17.1 %)	211.94	(28.6 %)	0.71
Q3 2017	489.02	(6.6 %)	354.22	(7.8 %)	131.77	(29.5 %)	0.44
Q4 2017	577.87	24.4 %	466.87	30.4 %	16.36	(88.2 %)	0.05
2017	2,107.02	(1.7 %)	1,603.08	(4.0 %)	496.80	(39.0 %)	1.66
Q1 2018	481.71	3.2 %	355.48	2.6 %	85.57	(37.4 %)	0.29
Q2 2018	530.92	(7.4 %)	404.98	(7.0 %)	107.22	(49.4 %)	0.36
Q3 2018	615.12	25.8 %	354.66	0.1 %	(355.41)	(369.7 %)	(1.18)
Q4 2018	565.42	(2.2 %)	311.88	(33.2 %)	17.66	7.9 %	0.06
2018	2,301.33	9.2 %	1,427.01	(11.0 %)	(144.96)	(129.2 %)	(0.48)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	3,068.99	10.7 %	647.26	39.8 %	395.72	41.7 %	1.38
2010	3,824.22	24.6 %	889.76	37.5 %	496.31	25.4 %	1.73
2011	4,607.41	20.5 %	1,029.35	15.7 %	611.98	23.3 %	2.14
2012	5,389.95	17.0 %	1,148.55	11.6 %	755.37	23.4 %	2.64
2013	6,260.27	16.1 %	1,341.42	16.8 %	977.22	29.4 %	3.41
2014	7,711.37	23.2 %	1,620.86	20.8 %	1,118.93	14.5 %	3.91
2015	8,631.04	11.9 %	1,800.33	11.1 %	1,161.56	3.8 %	4.06
2016	2,144.47	(75.2 %)	1,670.60	(7.2 %)	813.77	(29.9 %)	2.71
2017	2,107.02	(1.7 %)	1,603.08	(4.0 %)	496.80	(39.0 %)	1.66
2018	2,301.33	9.2 %	1,427.01	(11.0 %)	(144.96)	(129.2 %)	(0.48)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	21.09 %	13.39 %	12.89 %
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	23.27 %	14.59 %	12.98 %
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	22.34 %	15.02 %	13.28 %
Q1 2012	-	-	-
Q2 2012	21.09 %	14.53 %	13.36 %
Q3 2012	21.06 %	14.61 %	13.38 %
Q4 2012	21.31 %	15.13 %	14.01 %
2012	21.31 %	15.13 %	14.01 %
Q1 2013	21.61 %	15.53 %	14.63 %
Q2 2013	21.19 %	15.31 %	14.96 %
Q3 2013	20.83 %	14.88 %	14.86 %
Q4 2013	21.43 %	15.01 %	14.99 %
2013	21.43 %	15.01 %	14.99 %
Q1 2014	21.60 %	15.06 %	14.99 %
Q2 2014	21.71 %	15.24 %	15.23 %
Q3 2014	21.82 %	15.06 %	14.92 %
Q4 2014	21.04 %	14.66 %	14.53 %
2014	21.02 %	14.63 %	14.53 %
Q1 2015	21.06 %	14.63 %	14.31 %
Q2 2015	20.86 %	14.45 %	14.23 %
Q3 2015	20.65 %	14.19 %	14.36 %
Q4 2015	20.75 %	13.90 %	14.24 %
2015	20.86 %	13.90 %	14.24 %
Q1 2016	24.99 %	16.54 %	16.52 %
Q2 2016	33.02 %	21.81 %	20.75 %
Q3 2016	44.75 %	29.96 %	26.09 %
Q4 2016	77.90 %	51.05 %	41.27 %
2016	77.90 %	51.05 %	41.27 %
Q1 2017	77.75 %	49.56 %	38.81 %
Q2 2017	75.16 %	45.21 %	33.14 %
Q3 2017	74.95 %	42.99 %	30.56 %
Q4 2017	76.08 %	42.76 %	27.11 %
2017	76.08 %	42.76 %	27.11 %
Q1 2018	75.96 %	41.52 %	25.34 %
Q2 2018	76.05 %	39.38 %	17.43 %
Q3 2018	71.73 %	36.75 %	14.33 %
Q4 2018	65.07 %	33.89 %	15.26 %
2018	62.01 %	32.30 %	14.54 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	21.09 %	13.39 %	12.89 %
2010	23.27 %	14.59 %	12.98 %
2011	22.34 %	15.02 %	13.28 %
2012	21.31 %	15.13 %	14.01 %
2013	21.43 %	15.01 %	14.99 %
2014	21.02 %	14.63 %	14.53 %
2015	20.86 %	13.90 %	14.24 %
2016	77.90 %	51.05 %	41.27 %
2017	76.08 %	42.76 %	27.11 %
2018	62.01 %	32.30 %	14.54 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	22.65 %	16.71 %	15.79 %
Q4 2011	17.32 %	10.05 %	9.01 %
Q1 2012	17.87 %	11.97 %	11.30 %
Q2 2012	26.32 %	19.28 %	17.33 %
Q3 2012	22.28 %	16.69 %	15.48 %
Q4 2012	18.55 %	12.41 %	11.83 %
Q1 2013	19.39 %	13.83 %	13.87 %
Q2 2013	24.11 %	17.91 %	18.05 %
Q3 2013	20.69 %	14.80 %	15.01 %
Q4 2013	21.27 %	13.32 %	12.87 %
Q1 2014	20.29 %	14.14 %	14.01 %
Q2 2014	24.07 %	18.08 %	18.40 %
Q3 2014	21.35 %	14.17 %	13.80 %
Q4 2014	18.67 %	12.38 %	12.04 %
Q1 2015	20.49 %	14.10 %	13.27 %
Q2 2015	22.85 %	16.86 %	17.41 %
Q3 2015	20.33 %	13.01 %	14.43 %
Q4 2015	19.08 %	11.23 %	11.55 %
Q1 2016	75.32 %	49.44 %	40.36 %
Q2 2016	84.52 %	62.21 %	55.61 %
Q3 2016	73.43 %	49.97 %	37.17 %
Q4 2016	77.06 %	39.19 %	27.74 %
Q1 2017	74.28 %	42.59 %	29.30 %
Q2 2017	75.92 %	47.89 %	36.95 %
Q3 2017	72.44 %	41.26 %	26.95 %
Q4 2017	80.79 %	39.08 %	15.71 %
Q1 2018	73.80 %	37.14 %	21.46 %
Q2 2018	76.28 %	40.02 %	6.90 %
Q3 2018	57.66 %	31.44 %	13.88 %
Q4 2018	55.16 %	28.04 %	19.34 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2009	-	-	-	-
Q2 2009	-	-	-	-
Q3 2009	-	-	-	-
Q4 2009	-	-	-	-
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	-	-	-	-
Q4 2010	-	-	-	-
Q1 2011	-	-	-	-
Q2 2011	-	-	-	-
Q3 2011	286.19	-	-	4.39
Q4 2011	286.19	-	-	4.09
Q1 2012	286.19	-	-	4.62
Q2 2012	286.19	2.39	2.39	5.48
Q3 2012	286.19	2.49	2.49	5.48
Q4 2012	286.19	2.64	2.64	6.02
Q1 2013	286.19	2.87	2.86	6.05
Q2 2013	286.19	3.19	3.06	7.22
Q3 2013	286.19	3.24	3.11	7.13
Q4 2013	286.19	3.41	3.28	7.86
Q1 2014	286.19	3.63	3.40	7.88
Q2 2014	286.19	3.73	3.62	9.26
Q3 2014	286.19	3.83	3.71	9.12
Q4 2014	286.19	3.91	3.92	9.93
Q1 2015	286.19	3.93	4.04	10.83
Q2 2015	286.19	4.04	4.22	12.25
Q3 2015	286.19	4.12	4.33	13.14
Q4 2015	286.19	4.06	4.29	13.88
Q1 2016	300.00	3.56	3.86	16.80
Q2 2016	300.00	3.23	3.63	17.77
Q3 2016	300.00	2.97	3.36	18.39
Q4 2016	300.00	2.71	2.95	18.67
Q1 2017	300.00	2.53	2.69	19.17
Q2 2017	300.00	2.25	2.24	19.90
Q3 2017	300.00	2.06	2.03	20.03
Q4 2017	300.00	1.66	1.90	20.12
Q1 2018	300.00	1.49	1.79	20.02
Q2 2018	300.00	1.14	1.21	20.32
Q3 2018	300.00	(0.49)	1.05	18.85
Q4 2018	300.00	(0.48)	1.12	18.76

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	286.19	1.38	1.38	3.72
2010	286.19	1.73	1.73	4.05
2011	286.19	2.14	2.14	4.09
2012	286.19	2.64	2.64	6.02
2013	286.19	3.41	3.28	7.86
2014	286.19	3.91	3.92	9.93
2015	286.19	4.06	4.29	13.88
2016	300.00	2.71	2.95	18.67
2017	300.00	1.66	1.90	20.12
2018	300.00	(0.48)	1.12	18.76

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	7.97	7.97	3.48
Q3 2012	7.52	7.52	3.41
Q4 2012	7.03	7.03	3.08
Q1 2013	9.26	9.28	4.39
Q2 2013	9.07	9.45	4.01
Q3 2013	12.30	12.79	5.58
Q4 2013	13.78	14.35	5.99
Q1 2014	17.26	18.42	7.96
Q2 2014	17.68	18.20	7.12
Q3 2014	20.73	21.37	8.70
Q4 2014	16.73	16.71	6.59
Q1 2015	18.82	18.32	6.83
Q2 2015	17.93	17.18	5.91
Q3 2015	13.59	12.91	4.25
Q4 2015	13.06	12.35	3.82
Q1 2016	6.89	6.34	1.46
Q2 2016	7.81	6.94	1.42
Q3 2016	6.53	5.77	1.05
Q4 2016	9.45	8.69	1.37
Q1 2017	8.50	8.01	1.12
Q2 2017	9.65	9.68	1.09
Q3 2017	11.73	11.92	1.21
Q4 2017	11.41	9.93	0.94
Q1 2018	13.50	11.18	1.00
Q2 2018	16.53	15.54	0.92
Q3 2018	NEG	15.39	0.86
Q4 2018	NEG	12.54	0.75

Period	P/E	Adjusted P/E	Price/book
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	7.03	7.03	3.08
2013	13.78	14.35	5.99
2014	16.73	16.71	6.59
2015	13.06	12.35	3.82
2016	9.45	8.69	1.37
2017	11.41	9.93	0.94
2018	NEG	12.54	0.75

Business Segments (Million)

Compared With The

Period	Tourism	Transportation	Ticketing	Hospitality sector	Other sectors	Property rentals	Airline tickets / Travel and Tourism Reservations	Shipping	Transportation and other	Eliminations
Q3 2011	-	-	-	-	-	-	1,044.47	47.70	11.32	-
Q4 2011	-	-	-	-	-	-	1,189.54	46.23	19.15	-
Q1 2012	-	-	-	-	-	-	1,320.08	21.04	11.69	-
Q2 2012	-	-	-	-	-	-	1,368.45	27.20	12.00	-
Q3 2012	-	-	-	-	-	-	1,246.42	33.22	20.78	-
Q4 2012	-	-	-	-	-	-	1,273.55	35.14	20.38	-
Q1 2013	-	-	-	-	-	-	1,520.17	22.99	11.80	-
Q2 2013	-	-	-	-	-	-	1,619.05	34.37	16.99	-
Q3 2013	-	-	-	-	-	-	1,388.81	34.46	18.64	-
Q4 2013	-	-	-	-	-	-	1,537.72	37.37	17.90	-
Q1 2014	-	-	-	-	-	-	1,742.78	33.01	14.52	-
Q2 2014	-	-	-	-	-	-	1,925.79	39.55	12.62	-
Q3 2014	-	-	-	-	-	-	1,690.47	49.80	19.19	-
Q4 2014	-	-	-	-	-	-	2,098.82	39.06	45.78	-
Q1 2015	-	-	-	-	-	-	2,046.43	32.89	73.26	-
Q2 2015	-	-	-	-	-	-	2,257.11	51.89	77.88	-
Q3 2015	-	-	-	-	-	-	1,787.27	38.38	81.06	-
Q4 2015	-	-	-	-	-	-	2,055.07	36.69	93.11	-
Q1 2016	149.27	23.18	357.28	-	4.34	8.72	-	-	-	(7.83)
Q2 2016	120.62	26.28	467.13	-	4.97	10.29	-	-	-	(7.91)
Q3 2016	156.10	25.72	333.85	-	4.83	12.15	-	-	-	(9.20)
Q4 2016	96.70	32.27	315.63	-	4.27	18.86	-	-	-	(3.06)
Q1 2017	145.68	25.85	282.25	8.95	2.93	0.97	-	-	-	-
Q2 2017	136.84	36.13	366.27	14.15	19.78	14.97	-	-	-	(14.62)
Q3 2017	154.44	53.65	258.80	19.68	-	26.23	-	-	-	(17.88)
Q4 2017	145.68	44.29	555.26	-	6.66	21.31	-	-	-	(195.33)
Q1 2018	151.78	45.42	269.24	11.85	10.54	20.00	-	-	-	(27.13)
Q2 2018	131.80	48.00	326.63	26.92	6.68	15.00	-	-	-	(24.12)
Q3 2018	155.22	313.69	222.04	36.09	2.58	17.50	-	-	-	(23.83)
Q4 2018	97.85	195.51	258.19	4.17	3.47	23.84	-	-	-	(17.61)

Period	Tourism	Transportation	Ticketing	Hospitality sector	Other sectors	Property rentals	Airline tickets / Travel and Tourism Reservations	Shipping	Transportation and other	Eliminations
2011	-	-	-	-	-	-	4,415.83	137.36	54.22	-
2012	-	-	-	-	-	-	5,208.50	116.59	64.85	-
2013	-	-	-	-	-	-	6,065.75	129.19	65.33	-
2014	-	-	-	-	-	-	7,457.86	161.41	92.10	-
2015	-	-	-	-	-	-	8,145.88	159.85	325.31	-
2016	522.68	107.46	1,473.89	-	18.42	50.02	-	-	-	(28.00)
2017	622.98	170.44	1,745.55	-	23.48	106.26	-	-	-	(561.69)
2018	536.66	602.62	1,076.10	79.03	23.28	76.34	-	-	-	(92.69)

Analysts Estimates (Million)

Item	Q4 2018 (e)	Q4 2018 (a)	Change‬
Average	63.00	17.66	(72.0 %)

Estimates vs Actual (Million)

Item	Q4 2018 (e)	Q4 2018 (a)	Change
SNB Capital	63.00	17.66	(72.0) %

Financial Ratios

	Current
Market Cap (M Riyal)	7,965.00
Enterprise Value (EV) (M)	9,391.21
Shares Outstanding ((M))	300.00
EPS ( Riyal) (TTM)	0.82
Book Value (BV) ( Riyal)	22.37
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 50
P/E (TTM)	32.22
Price/book	1.19
Return on Average Assets (%) (TTM)	2.4
Return on Average Equity (%) (TTM)	4.1

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Al Tayyar turns to SAR 142 mln loss in 2018

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Share Price

Seera Group Holding (SEERA)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2018 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Al Tayyar turns to SAR 142 mln loss in 2018

View other reports

Share Price

Seera Group Holding (SEERA)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2018

Revenue by Business Segment (Latest) 2018 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

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Business Segments (Million)