Financial Results : Seera loses SAR 199M in 2024, SAR 330M in Q4 on provisions

Seera loses SAR 199M in 2024, SAR 330M in Q4 on provisions

04/03/2025 Argaam Exclusive

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Seera Group Holding posted a loss of SAR 199 million in 2024, against earnings of SAR 225.7 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 3,290.82 4,106.43 24.8 %
Gross Income 1,412.16 1,767.57 25.2 %
Operating Income 238.45 265.33 11.3 %
Net Income 225.71 (198.98) (188.2 %)
Average Shares 300.00 300.00 -
Earnings Per Share before unusual items (Riyals) 0.52 0.31 (41.1 %)
EPS (Riyal) 0.75 (0.66) (188.2 %)

The loss was attributed to impairment and exceptional provisions totaling SAR 291 million, compared to none in 2023. Additionally, no amounts were recovered from a decline in the value of accounts receivable from previous years, whereas SAR 18 million was recovered in 2023.

 

On the other hand, revenues increased by 25% year-on-year (YoY) to SAR 4.11 billion in 2024, driven by strong performance across various business segments.

 

Q4 2024 saw a loss of SAR 330 million, compared to a profit of SAR 85 million in Q4 2023.
 
Sequentially, the company turned to a loss from earnings of SAR 43 million in Q3 2024.


Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 1,016.85 1,005.37 (1.1 %)
Gross Income 399.79 431.29 7.9 %
Operating Income 34.46 16.42 (52.4 %)
Net Income 77.74 (329.97) (524.4 %)
Average Shares 300.00 300.00 -
Earnings Per Share before unusual items (Riyal) 0.01 (0.13) (1772.2 %)
EPS (Riyal) 0.26 (1.10) (524.4 %)

Total shareholders’ equity (after minority interest) stood at SAR 6.03 billion by the end of 2024, compared to SAR 6.57 billion a year earlier.

 

Attached Document:

 

 

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