Seera Group Delivers Strong Operational Performance, with an 18% Year-on-Year Growth in Adjusted EBITDA in FY 2024

Riyadh, Saudi Arabia – 4 March 2025 – Seera Group Holdings (Tadawul: 1810) today announced its financial results for the year ending 31 December 2024, reflecting continued progress in executing its strategic vision while maintaining strong operational performance. The Group achieved an 18% year-on-year growth in adjusted EBITDA1, driven by expansion across its travel, car rental, and hospitality businesses, reinforcing its position as a market leader.
 

Throughout 2024, Seera successfully navigated market shifts, leveraging its diversified portfolio and disciplined capital allocation strategy to unlock growth opportunities. The Group's net booking value (NBV) surged by 17% to SAR 14.67 billion, fueled by strong contributions across all its business segments. Revenue grew 25% year-on-year to SAR 4.11 billion, reflecting solid growth across all segments, including a 40% increase in Lumi’s revenue, 25% growth in the UK travel platform, and 8% growth in the hospitality business, along with a 17% expansion in Almosafer despite the change in government travel policy, with improved profitability of 124% in EBITDA year-on-year.
 

Seera’s commitment to portfolio optimization and capital efficiency remained a key driver of its 2024 strategy. The Group continued its disciplined approach to adopt an asset-light model. 

As part of the annual impairment test of its portfolio, Seera recorded one-off impairments amounting to SAR 291 million, primarily related to hospitality assets that required significant capital investments to maintain viability. Excluding these impairments, adjusted net profit1 before NCI grew 2% year-on-year to SAR 153 million, reflecting the strength of Seera’s core business operations.
 

The Group’s ongoing efforts to optimize capital allocation were further reinforced by its share buyback program, a key initiative aimed at enhancing shareholder value. By 31 December 2024, Seera had repurchased 17.1 million shares, representing 5.7% of total capital and 64.8% of the total buyback program. The Group aims to continue the implementation of the share buyback program within the approved timeline and execute in optimal market conditions, in accordance with the relevant Capital Market Authority guidelines and regulations. The share repurchase program aligns with Seera’s strategy of disciplined capital allocation aimed at maximizing sustainable shareholder returns.
 

Seera remains strategically positioned to drive further growth by strengthening its core businesses, optimizing its investment portfolio, and maintaining a disciplined approach to capital efficiency. The Group’s ongoing developments, including the Kayanat project, are set to contribute to cash flow by 2027 and demonstrate its commitment to long-term expansion and sustainable returns.
 

Al Waleed Abdulaziz Al-Nasser, Acting CEO of Seera Group, commented:

"Seera Group continues to execute its strategy with confidence, ensuring that our portfolio is positioned for long-term success.
 

Our performance in 2024 reflects the resilience of our businesses across our travel, mobility, and hospitality segments which highlights our ability to adapt, and innovate, while maintaining our commitment to strategic capital deployment to create value for our shareholders ."
 

As Seera moves into 2025, its focus remains on optimizing returns, strengthening its market leadership, and executing its long-term strategy to build a more sustainable and high-performing business portfolio.