Financial Results : Seera turns to losses of SAR 204M in 2024, SAR 335M in Q4 on provisions

Seera turns to losses of SAR 204M in 2024, SAR 335M in Q4 on provisions

04/03/2025 Argaam Exclusive

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Seera Group Holding a loss of SAR 204 million (before minority interest) by the end of 2024, compared to profits of SAR 226 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 3,291.00 4,106.00 24.8 %
Gross Income 1,412.00 1,768.00 25.2 %
Operating Income 305.00 42.00 (86.2 %)
Net Income 226.00 (204.00) (190.3 %)
Average Shares 300.00 300.00 -
Earnings Per Share before unusual items (Riyals) 0.52 0.29 (44.5 %)
EPS (Riyals) 0.75 (0.68) (190.3 %)

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 recorded a loss of SAR 335 million, compared to a profit of SAR 85 million in Q4 2023.

 

Sequentially, net earnings declined by 1,180.6% from SAR 31 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 1,017.00 1,005.00 (1.2 %)
Gross Income 400.00 432.00 8.0 %
Operating Income 65.00 (273.00) (520.0 %)
Net Income 78.00 (335.00) (529.5 %)
Average Shares 300.00 300.00 -
Earnings Per Share before unusual items (Riyals) 0.01 (0.15) (1771.7 %)
EPS (Riyals) 0.26 (1.12) (529.5 %)

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.

 

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