Al-Tayyar’s H1 profit rises 5.75% to SAR 681mln

29/07/2015 Argaam Exclusive

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Al-Tayyar Travel Group’s H1-2015 net profit rose 5.75 percent to SAR 681 million from SAR 644 million for the same period in 2014 on the back of 20 percent sales increase.

Financials (M)

Item	6m 2014	6m 2015	Change‬
Revenues	3,768.26	4,539.47	20.5 %
Gross Income	839.45	986.50	17.5 %
Operating Income	587.69	667.93	13.7 %
Net Income	643.69	681.17	5.8 %
Average Shares	286.19	286.19	-
EPS (Riyals)	2.25	2.38	5.8 %

Second quarter net profit rose 8.79 percent to SAR 396 million from SAR 364 million in the second quarter of 2014, as the company increased branches to 38, which had a positive impact on the overall sales revenue. Compared to the previous quarter, net profit for the period rose 38.46 percent.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2014	Q2 2015	Change‬
Revenues	1,977.95	2,386.89	20.7 %
Gross Income	476.19	545.42	14.5 %
Operating Income	345.56	383.61	11.0 %
Net Income	363.69	395.55	8.8 %
Average Shares	286.19	286.19	-
EPS (Riyals)	1.27	1.38	8.8 %

Item	Q1 2015	Q2 2015	Change‬
Revenues	2,152.58	2,386.89	10.9 %
Gross Income	441.08	545.42	23.7 %
Operating Income	284.32	383.61	34.9 %
Net Income	285.63	395.55	38.5 %
Average Shares	286.19	286.19	-
EPS (Riyals)	1.00	1.38	38.5 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2006	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-
2006	-	-	-	-	-	-
Q1 2007	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-
2007	-	-	-	-	-	-
Q1 2008	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-
2008	2,771.45	-	463.05	-	280.09	-
Q1 2009	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-
2009	3,068.99	10.7 %	647.26	39.8 %	390.52	39.4 %
Q1 2010	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-
2010	3,824.22	24.6 %	889.76	37.5 %	518.24	32.7 %
Q1 2011	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-
Q3 2011	1,103.48	-	249.93	-	175.61	-
Q4 2011	1,254.91	-	217.35	-	118.11	-
2011	4,607.41	20.5 %	1,029.35	15.7 %	657.89	26.9 %
Q1 2012	1,352.82	-	241.76	-	152.52	-
Q2 2012	1,407.64	-	370.46	-	262.09	-
Q3 2012	1,300.42	17.8 %	289.76	15.9 %	206.63	17.7 %
Q4 2012	1,329.07	5.9 %	246.57	13.4 %	154.08	30.5 %
2012	5,389.95	17.0 %	1,148.55	11.6 %	775.31	17.8 %
Q1 2013	1,554.96	14.9 %	301.55	24.7 %	204.66	34.2 %
Q2 2013	1,670.42	18.7 %	402.69	8.7 %	289.32	10.4 %
Q3 2013	1,441.91	10.9 %	298.39	3.0 %	201.67	(2.4 %)
Q4 2013	1,592.99	19.9 %	338.79	37.4 %	199.36	29.4 %
2013	6,260.27	16.1 %	1,341.42	16.8 %	895.01	15.4 %
Q1 2014	1,790.31	15.1 %	363.26	20.5 %	242.13	18.3 %
Q2 2014	1,977.95	18.4 %	476.19	18.3 %	345.56	19.4 %
Q3 2014	1,759.46	22.0 %	375.62	25.9 %	234.90	16.5 %
Q4 2014	2,185.93	37.2 %	408.06	20.4 %	247.17	24.0 %
2014	7,711.37	23.2 %	1,620.86	20.8 %	1,067.48	19.3 %
Q1 2015	2,152.58	20.2 %	441.08	21.4 %	284.32	17.4 %
Q2 2015	2,386.89	20.7 %	545.42	14.5 %	383.61	11.0 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2005	-	-	-	-	-	-
2006	-	-	-	-	-	-
2007	-	-	-	-	-	-
2008	2,771.45	-	463.05	-	280.09	-
2009	3,068.99	10.7 %	647.26	39.8 %	390.52	39.4 %
2010	3,824.22	24.6 %	889.76	37.5 %	518.24	32.7 %
2011	4,607.41	20.5 %	1,029.35	15.7 %	657.89	26.9 %
2012	5,389.95	17.0 %	1,148.55	11.6 %	775.31	17.8 %
2013	6,260.27	16.1 %	1,341.42	16.8 %	895.01	15.4 %
2014	7,711.37	23.2 %	1,620.86	20.8 %	1,067.48	19.3 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2006	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-
2006	-	-	-	-	-	-
Q1 2007	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-
2007	-	-	-	-	-	-
Q1 2008	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-
2008	279.28	-	0.98	-	279.28	0.98
Q1 2009	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-
2009	395.72	41.7 %	1.38	-	395.72	1.38
Q1 2010	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-
2010	496.31	25.4 %	1.73	-	496.31	1.73
Q1 2011	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-
Q3 2011	174.23	-	0.61	-	174.23	0.61
Q4 2011	113.07	-	0.40	-	113.07	0.40
2011	611.98	23.3 %	2.14	-	611.98	2.14
Q1 2012	152.87	-	0.53	-	152.87	0.53
Q2 2012	243.96	-	0.85	-	243.96	0.85
Q3 2012	201.34	15.6 %	0.70	-	201.34	0.70
Q4 2012	157.21	39.0 %	0.55	-	157.21	0.55
2012	755.37	23.4 %	2.64	-	755.37	2.64
Q1 2013	217.90	42.5 %	0.76	-	215.73	0.75
Q2 2013	336.18	37.8 %	1.17	-	301.47	1.05
Q3 2013	214.87	6.7 %	0.75	-	216.46	0.76
Q4 2013	208.27	32.5 %	0.73	-	205.03	0.72
2013	977.22	29.4 %	3.41	-	938.70	3.28
Q1 2014	280.00	28.5 %	0.98	-	250.88	0.88
Q2 2014	363.69	8.2 %	1.27	-	363.89	1.27
Q3 2014	243.77	13.5 %	0.85	-	242.82	0.85
Q4 2014	231.47	11.1 %	0.81	-	263.16	0.92
2014	1,118.93	14.5 %	3.91	-	1,120.75	3.92
Q1 2015	285.63	2.0 %	1.00	-	285.63	1.00
Q2 2015	395.55	8.8 %	1.38	-	415.55	1.45

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2005	-	-	-	-	-	-
2006	-	-	-	-	-	-
2007	-	-	-	-	-	-
2008	279.28	-	0.98	-	279.28	0.98
2009	395.72	41.7 %	1.38	-	395.72	1.38
2010	496.31	25.4 %	1.73	-	496.31	1.73
2011	611.98	23.3 %	2.14	-	611.98	2.14
2012	755.37	23.4 %	2.64	-	755.37	2.64
2013	977.22	29.4 %	3.41	-	938.70	3.28
2014	1,118.93	14.5 %	3.91	-	1,120.75	3.92

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
2008	16.71 %	10.54 %	10.08 %
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 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	16.71 %	10.54 %	10.08 %
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 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
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 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2006	-	-	-	-
Q2 2006	-	-	-	-
Q3 2006	-	-	-	-
Q4 2006	-	-	-	-
Q1 2007	-	-	-	-
Q2 2007	-	-	-	-
Q3 2007	-	-	-	-
Q4 2007	-	-	-	-
Q1 2008	-	-	-	-
Q2 2008	-	-	-	-
Q3 2008	-	-	-	-
Q4 2008	-	-	-	-
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

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2005	-	-	-	-
2006	-	-	-	-
2007	-	-	-	-
2008	286.19	0.98	0.98	2.78
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

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
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

Period	P/E	Adjusted P/E	Price/book
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	7.03	7.03	3.08
2013	13.78	14.35	5.99
2014	16.73	16.71	6.59

Business Segments (Million)

Compared With The

Period	Airline tickets / Travel and Tourism Reservations	Shipping	Transportation and other
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

Period	Airline tickets / Travel and Tourism Reservations	Shipping	Transportation and other
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

Analysts Estimates (Million)

Item	Q2 2015 (e)	Q2 2015 (a)	Change‬
Average	365.00	395.55	8.37 %

Estimates vs Actual (Million)

Item	Q2 2015 (e)	Q2 2015 (a)	Change
SFC	404.00	395.55	(2.1) %
Value Capital	326.00	395.55	21.3 %

Financial Ratios

	Current
Market Cap (M Riyal)	7,650.00
Enterprise Value (EV) (M)	9,052.84
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 100
P/E (TTM)	30.96
Price/book	1.14
Return on Average Assets (%) (TTM)	2.4
Return on Average Equity (%) (TTM)	4.1

Seera Group Holding (SEERA)

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Al-Tayyar’s H1 profit rises 5.75% to SAR 681mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (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) 2015 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Seera Group Holding (SEERA)

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Al-Tayyar’s H1 profit rises 5.75% to SAR 681mln

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2015

Revenue by Business Segment (Latest) 2015 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Seera Group Holding (SEERA)

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Business Segments (Million)