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Seera’s losses fell 52% to 63 million riyals in the first quarter

The News GlorybyThe News Glory
09/05/2022

The losses of the Seera Holding Group “Sera” decreased by 51.9% in the first quarter of 2022 to about 63 million riyals, compared to losses of about 131 million riyals in the same quarter of 2021.

On a quarterly basis, Seera’s losses decreased by 39.4% in the first quarter of this year, compared to losses of about 104 million riyals in the fourth quarter of 2021.

Seera said in a statement on the Saudi Tadawul today, Monday, that the decline in losses in the first quarter of 2022, on an annual basis, is due to the increase in the total value of “Sera” group bookings by 87% in the first quarter of 2022 to reach 1.6 billion riyals, compared to the total value of reservations in the first quarter of 2021, which amounted to 873 million riyals.

She added that this is evidence of the sector’s recovery and the recovery of travel in, out and around the Kingdom of Saudi Arabia.

“Lumi”, the car rental company in the “Sera Group”, continued its positive growth since 2021, as its revenues recorded a growth of 44% from 112 million riyals in the first quarter of last year to reach 161 million riyals in the first quarter of 2022. This growth is supported by significant long-term car rental contracts with prominent government and corporate clients, and the rise in digital bookings through its online platform, which it launched last year.

Almosafer witnessed an upward recovery after the pandemic, achieving a growth of 52% in the value of total reservations from 647 million riyals in the first quarter of 2021 to reach 984 million riyals in the first quarter of this year.

The total value of reservations in the individual travel sector achieved a growth of 122% from 261 million riyals in the first quarter of 2021 to 580 in the first quarter of this year, which reflects the return of travel to pre-pandemic levels and the continued success of the multi-channel strategy applied by “Almosafer”. .

Also, Mawasem, the company specialized in Hajj and Umrah trips affiliated with the “Sera” group, achieved revenues of 13 million riyals in the first quarter of 2022, which represents a strong recovery from the same period last year.

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