Group Overview September 2021
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Group Overview September 2021
Background
1
1st office in
Riyadh
We are SEERA, the leading publicly
listed travel & tourism Saudi champion Closed joint-
stock company
in the Middle East.
We started our journey as Al Tayyar Travel Group. IPO
Over four decades of dedication have created the
largest travel and tourism company in the MENA
region, helping families, businesses, holiday- Expansion into new
businesses & countries
makers, pilgrims and government officials move
around the region and the world.
Announced
transformation
Seera has remained profitable since IPO in 2012 program
and continues to invest in digital & technology
solutions to drive growth and competitive A new identity:
positioning. Seera, the new name
for Al Tayyar Group
Introducing cutting-
edge solutions for our
portfolio of brands
2
Consumer Travel
Suppliers
Destination Management
Hajj & Umrah
Business Travel Management
Data
Unified scalable sourcing,
data, and technology platform
Car Rental
that powers a portfolio of
businesses
Hospitality
Technology Corporate Ventures
3
Business update
4
Consumer
Travel
5
Almosafer is the leading digital travel brand in the GCC…
Booking value (SAR Mn)
3,900
80% 58%
+193% OTA Market share OTA Market share
CAGR in KSA 2021 in KSA 2019
2,600
3-digit annual growth over
the past 5 years pre-COVID +26M +10M
Online sessions App downloads
1,200
Largest Mada New booking
e-commerce made every
merchant 20 seconds
200 SAR 919 Mn
18 45
2014 2015 2016 2017 2018 2019
6
Unpaid share of booking value (%)
100%
Pre-COVID Current
…with a growing 80% +25%
share of organic 57% 64% 66% YoY growth
bookings
Jan-19 Jun-19 Jan-21 Jun-21
Was able to achieve a sustainable and growing scale in
organic bookings post-COVID due to effective digital
product and engagement strategies
7
…will set the path to strong recovery post-COVID Other Opportunities
(not considered in mid-term target)
Booking Value (SAR)
o Expand to GCC, Egypt,
Our Strategy… • Increased our market share in KSA, UAE, KWT & Bahrain
2019 • Launched tactical marketing campaigns and created Jordan & Pakistan
strategic partnerships to increase our brand strength & through organic or
3.9Bn awareness of our offerings inorganic growth
I Create a personalized customer • Expanded retail footprint by opening new digitally-
experience across all touchpoints enabled concept branches across KSA o Develop dynamic
• Launched Almosafer Academy to shape the next
packaging offering
II Fully integrate digital and non- generation of Saudi travel consultants to serve in stores
digital channels, and build
o Deploy existing
additional pathways to engage 2020 • Expanded omni-channel offering by launching WhatsApp
service channel and introducing the Almosafer wallet capabilities to capture
and convert customers
1.2Bn functionality value along travel
• Developed real-time COVID-19 travel safety & regulation journey (e.g. building
III Provide superior products & advisory platform to boost the public’s confidence in travel financing solutions, such
services across the entire trip • Pivoted focus to distribution of domestic tourism offerings as buy now-pay later,
leading to higher spend within KSA Almosafer prepaid or
credit cards, etc..)
IV Provide transparent, pro-active Mid-term Target • Leverage technology and advanced data analytics &
and automated customer care machine learning to tailor and personalize customer
that translate to higher customer 7.5-8.0Bn experiences
satisfaction, retention & loyalty • Continue to transition to an omni-channel, customer-
1.5-2.5% centric brand across the entire travel journey
• Introduce new value-add products and services tailored
V Become the full travel journey EBITDA Margin
to the local context
companion and serve customers
at every step
Note: EBITDA margin is based on gross booking value 8
New Verticals
C2C Alternative Accommodation Platform
A platform serving both Hosts and Guests in KSA, by providing
access to alternative lodging such as chalets, camps, farms, etc..
Live by October
Our strategy
prompted the pursuit Concierge Services
First holistic luxury travel concierge service in Saudi Arabia,
of new verticals & catering to the personalized needs of HNW1 individuals
optimization
opportunities Optimization Opportunities
General Optimizations
Initiatives to optimize operations and elevate customer
experience in preparation for return in travel volume
1. High-Net-Worth
9C2C Alternative
Accommodation Platform
C2C alternative accommodation platform serving both Hosts and Guests
in KSA is set to launch in October 2021
Hosts Guests
New website & application New tab on Almosafer
for Hosts… app/website…
▪ Manage offline/online bookings ▪ 3D virtual tours of accommodation
▪ Sync reservations with ▪ Properties by occasion/event
guard/employees ▪ Focus on children, activities & safety
▪ Content services including 3D ▪ Reviews and Q&A
virtual tours modeling of
property ▪ Easy, safe payment
▪ Social reputation i.e. mutual ▪ Rewards & Loyalty (Alfursan, Qitaf,
rating between guest and host Wallet, etc..)
▪ Dynamic revenue generation ▪ 24/7 Call Center Support
10Concierge Services
Concierge services offer our customers personalized luxury
travel offerings with expert destination knowledge
Concierge services
VIP service offerings Customers
Government and Royal protocol
(e.g., Royal family)
Customized Private Air Luxury Stays
Journeys Corporate VIPs (e.g., CEOs of
Travel
International companies)
High net worth & ultra high net
worth clients
Personal Tailor-made Exclusive
Concierge Transportation Benefits
11General
Optimizations
Almosafer leverages technology to enable automation and streamlining of
operational and customer care processes
Sample
Optimize systems & operations Elevate customer experiences
Scale Booking Infrastructure Payment Integrations Automation of Customer Care Personalization
Developed an in-house solution for Earn rebates on supplier credit card Enable online cancellation and Enable personalized post booking
non-air bookings to replace a 3rd payments and avoid surcharge, wire amendments, and enhance post experiences to engage & retain
party engine with high transaction transfer or other fees by integrating booking services by proactively customers (e.g. pre-trip and day of travel
fees and high failure rate with payment solution managing after-sales care notifications, in-trip products & services,
etc..)
12Destination
Management
13The Kingdom of Saudi Arabia has … and is heavily investing in the
ambitious aspirations for tourism… tourism & entertainment sectors
On-going Investments & Initiatives
Vision 2030 Tourism & Entertainment Targets
• Development of giga projects (Neom, Amaala, etc..)
which are core to building the infrastructure for tourism
and entertainment in Saudi Arabia
Raise the contribution of the tourism sector to • Opening up tourist visas for international market to
the domestic product to more than 10% increase inbound tourism
Implementation of several major events such as Saudi
Increase the household spend in entertainment •
Seasons to introduce attractions and promote
from 2.9% to 6% destinations in Saudi Arabia
Provide one million additional job opportunities • Construction of venues/attractions to improve the
quality of life for locals and residents (Cinemas, The
Attract 100 million annual visits by 2030 Boulevard in Riyadh, etc..)
Total capital investment for tourism set to rise to more than
SAR 200 billion (USD $ 54 billion) over the next 10 years
Source: Saudi Vision 2030; Market Research Saudi 14…will set the path to strong recovery post-COVID Other Opportunities
(not considered in mid-term target)
Booking Value (SAR)
o Develop asset
Our Strategy… • Managed the guest journey across all touch points for Al
2019 Ula’s Winter at Tantora festival portfolio for domestic
• Provided logistic and guest support services for several & inbound tourists,
80Mn events & programs in KSA including Formula-E, the Saudi including: heavy
I Promote KSA as a destination and
Scholarship for Developing Football Talent, etc.. assets such as a
provide tailored destination
desert camp or light
mgmt. service for inbound tourists • Provided transport and accommodation services to Dakar
Rally organizers & competitors assets such as scuba
• Partnered with travel networks XO Private & Traveller diving equipment
II Enable connectivity to regional &
Made to expand global reach
global travel distributors through 2020
• Enlisted several regional suppliers that offer tours,
an online distribution platform adventure activities, transfer services, etc..
and activities marketplace 140Mn • Developed and operated in-house adventure activities,
nature trips and culture tours across the Kingdom to
III Deliver end-to-end travel grow domestic offerings
logistics, on-ground support and • Participated in roadshows, campaigns and webinars to
promote domestic and future inbound tourism
event management services
Mid-term Target • Become the leading marketplace for Saudi travel content
IV Invest in tourism infrastructure, • Partner with local & int’l travel agents to distribute Saudi
i.e. own and operate flagship 1.2-1.5Bn products across target markets through traditional
assets and products in KSA channels (offline) and online platforms
4-5% • Position the DMC as the go-to brand for MICE and special
EBITDA Margin projects in KSA
Note: EBITDA margin is based on gross booking value 15We align our offerings to each source market’s preferences…
Identify target Understand travel Identify target Define business
source markets dynamics: traveler clients within each development
preferences & travel source market strategy
intermediaries
16…for example: understanding travel dynamics of Chinese
travelers
Traveler preferences Impact on our DMC
What tourism activities Chinese like to do? • Packages/ itineraries tailored to include Chinese preferred
• Luxury shopping activities
How do they like to book their trip?
• Connect DMC platform to travel agent platform so that
• Mobile app
travelers can book services/ activities during the trip
• Add ins during the trip
• Ensure rigorous fulfillment and provide access to 24/7
What do Chinese consumers care about?
channels to provide full information of the booking
• Trust/ guarantee of no counterfeits
• Ensure all point of contacts (both for client and travelers)
• Language (Chinese)
speak Chinese
• Payment method (Alipay)
• Include Alipay as a payment method for the DMC services
17Discover Saudi acts as the go-to Saudi content provider through online API
integrations with travel partners
Travel Supply Travel Partners
OTAs
The go-to KSA
Intermediary
Ground TA/TO’s
Flights Hotel
transportation
Developed through Seera’s sourcing & digital
infrastructure
Bed-Banks
Activities &
Experiences
Tech Platforms
Developed through Seera-Klook Partnership
Seera-Klook Partnership
A world leading activities marketplace with Seera is partnering with Klook to build an activities &
USD 1bn topline and 60mn tickets sold tours marketplace for KSA, to capture supply across the
across +400 destinations in 2019 kingdom and enrich travelers’ in-destination experiences
18Additionally, Discover Saudi leverages the wider reach of Seera’s massive
regional and international distribution network
Discover Saudi Saudi DMC,
connecting global travel agents to the
Kingdom’s tourism experiences
Tajawal Online Travel Agent (OTA)
based in the UAE offering flights,
hotels and holiday packages
Elegant Resorts Leading luxury tour
operator handling over 1,300
passengers who travelled to the
Middle East in 2018
Discover Saudi
tajawal
Almosafer Flagship consumer brand
Elegant Resorts of Seera Group operating in KSA,
Kuwait and Bahrain.
Almosafer
Mawasim
Mawasim Hajj and Umrah DMC
Network of DMCs and agents
distributing packages to agents
globally
Other travel partners
19We have a track record of delivering successful MICE and large-scale
tourism events in KSA
We previously supported major events … … with travel, hotel and meet & assist services
Rally Dakar Al-Ula’s ‘Winter at Formula - E G20 Preliminary Provided flights Booked +2,000 room
Provided +200 VIP
Tantora’ festival Meetings bookings for +1,000 nights in hotels around
buses for guests
individuals the world
Ministry of Tourism, Ministry of Culture, Financial Sector Provided +1,300 SUVs Provided +90 airport
Future Investment
Visa Announcement Vision Announcement Global Conference for our VIP guests from staff to welcome &
Initiatives Conference
Conference Conference
around the world support guests
20We are exploring opportunities to own and operate flagship assets and
experiences in Saudi Arabia across several activity categories
Tours Nature Sports Community Ent. Ent. attractions
A journey that includes visiting An activity that is directly An activity that involves An event, performance or An event, performance or
several landmarks includes a related to natural attractions physical energy or skill. activity that local individual or activity that both locals and
tour guide. without the need of physical families visit on regular basis tourists visit to experience
exertion (weekly, bi-weekly, etc..) something unique
Categories
• Via aircraft • Desert experiences • Water Sports • Family entertainment center • Theme parks
• Via water vessel • Wildlife/nature reserve • Adrenaline sports Cinemas • Entertainment shows
• Via automobile • Farm experiences • Indoor sports • Esports
• By walk • Sea experiences • Trails
Wellness Gastronomy Culture & Arts Heritage
Activities focus on promoting Any activity that is related to An activity that showcases A visit to a site or area that is
health & well-being through food experiences attributes, values, beliefs reserved from the past that
physical, spiritual or through creative acts, represents the history of a
psychological methods practices, archaeology, and certain region/city.
monuments.
Categories
• Nature related • Food tasting • Festivals • Heritage site visit
• Tradition related • Cooking classes • Traditional practices
21
• Unique setting • Museums/exhibitionsHajj & Umrah
22International and domestic religious
pilgrims play a major role in Saudi Arabia’s 30 Million
tourism agenda Umrah visitors expected by 2030
Number of Pilgrims in 2019 Contribution to Local GDP
Saudi Arabia launched
In ‘000s In Billions SAR
several infrastructure
Pakistan 2,180 12.0 projects to accommodate
Indonesia 1,570 8.6 a growing pilgrim base…
India 1,007 5.5
Egypt 772 4.2
Bangladesh 509
…including the expansion of the Grand
2.8
Malaysia 319 1.7
Mosque in Makkah, the Haramain High
USA 42 0.2 Speed Railway to link Makkah, Madinah
Thailand 35 0.2 and Jeddah, and the upgrade of King
Singapore 19 0.1 Abdulaziz International Airport in Jeddah
China 13 0.1 which is the closest airport to Makkah
Cambodia 5 0.0 and the main gateway for pilgrims into
Others1 14,330 78.6
the country
Total 20,801 114.0
1. Includes internal pilgrims travelling from within KSA or GCC, in addition to other international inbound travelers
Source: Ministry of Hajj & Umrah, General Authority for Statistics 23Mawasim adopts a B2B Wholesale Tour Operator model to improve link
between inventory and distribution
Commits to Inventory
Committing to inventory is rewarded with
Inventory
higher margins due to scale benefits from
larger volume and access to limited inventory
i.e. peak time inventory
Bundles Packages
Bundling of accommodation, transportation
Wholesale Tour
& activities increases basket size and allows
Operator
more customized products for customers
with varied price-points
Distributor Sells to Distributors
Distribution in source markets is expensive;
market is fragmented, relies on local
Consumer relationships i.e. word-of-mouth, is offline
and customers have low repeat rates
24…will set the path to strong recovery post-COVID Other Opportunities
(not considered in mid-term target)
Booking Value (SAR)
o Invest in on-ground
Our Strategy…
2019 • Delivered mostly core flight and accommodation services assets including
primarily for luxury class travelers capex for large scale
170Mn • Provided on-ground support services to pilgrims inbound travel &
I Partner with distributors in
inter-city transport
source markets to bridge local
(e.g. mega busses)
entry barriers and keep customer
acquisition costs low
• Launched a B2B digital portal enabling agents across the
Commit to inventory for globe to book end-to-end travel arrangements for pilgrims
II 2020
competitive supply capture & • Integrated with the Ministry of Hajj & Umrah’s Maqam
higher margins from scale 14Mn platform for issuance of Umrah visas
• Designed different offerings to cater to various customer
discounts segments from economy to premium packages
III Deliver comprehensive travel
offerings and on-ground support
services from visa, flights, hotels, Mid-term Target • Position Mawasim as leading religious tourism provider
meet and greet, tours, etc.. for agents in key source markets
0.3-0.6Bn • Pre-buy accommodation in Makkah & Madinah for
volume discounts and access to limited inventory
2-3% • Develop Umrah+ offerings, i.e. F&B, tours, and other
EBITDA Margin activities to explore Saudi Arabia beyond pilgrimage
Note: EBITDA margin is based on gross booking value 25Business Travel
Management
26Pre-COVID
Elaa is a trusted travel partner of
public & private sector entities… ~SAR 2.5B
Annual GBV
Provides high value, complex services while
introducing digital products to maintain competitive
advantage and optimize cost structure
Built a-one-of-its-kind travel order system, since July-
2019, 100% of travel requests are processed online
~25%
market
Booked travel itineraries and ground transportation for share
50+ international high-profile speakers and CEO’s
1M+
Provided meet & greet services to 200+ international
arrivals across airports in KSA annual
trips
27…servicing the largest and the most prestigious corporate & government
customer base
Flagship
Companies
Major
Hospitals
Key
Universities
28We launched our advanced travel management solution in 2020, providing
self-service booking capabilities to our client base
Raise a travel request, get it
approved & book the trip in minutes
Control travel activities based on
internal travel policy
Analyze reports on employee trips
and travel expenses in real-time
Link travel request flows to multiple
payment types seamlessly
29…will set the path to strong recovery post-COVID Other Opportunities
(not considered in mid-term target)
Booking Value (SAR)
o Enter GCC market
Our Strategy…
2019 • Developed service capabilities by leveraging technological through global
solutions to automate travel order issuance partnerships or
2.5Bn • Focused on large scale and high revenue generating acquisitions
I Optimize cost base & operations customers
through digitalization and • Expanded market share within KSA
partnering with scale clients
• Partnered with Saudi public health sector entities via the
II Roll-out travel management provision of travel & logistics services in support of COVID-
solutions to wider client base at 2020 19 testing efforts
minimal incremental cost • Launched a user-friendly online booking tool (OBT) to
1.5Bn delegate work to customers
Increase share of customers who • Invested in educating customers on the OBT capabilities
III
(trainings, client onboarding, etc..) including compliance to
require high-margin, tailored and
travel policies and travel insights reports
value-add services
(e.g. charter flights)
Mid-term Target
• Leverage data to cross-sell and upsell
2.5-2.8Bn • Accelerate online penetration to increase margin in the
long run
2-3% • Focus on developing advanced capabilities to offer above
EBITDA Margin
market & high-value services, e.g. security management
Note: EBITDA margin is based on gross booking value 30Car Rental
31Lumi has grown tremendously in the past 5 years achieving a CAGR of
35% and are on a trajectory to become a SAR 1Bn revenue business
Achieving 1Bn
milestone
Maintaining growth
Ramping up on lease despite COVID-19
contracts for gov’t and Impact
Turnaround and Breakeven corporate clients 26,000
starting to scale fleet
asset base
12,000
10,300 1,000
6,600
3,600 4,100
434
316
84 137 195
2016 2017 2018 2019 2020 Medium- term Target
EBIT Margin: -45% EBIT Margin: 0% EBIT Margin: 7% EBIT Margin: 15% EBIT Margin: 16% EBIT Margin: 18-20%
Assets: 240M Assets: 340M Assets: 400M Assets: 800M Assets: 900M Assets: 1.6B
Fleet Size (# of Vehicles)
Revenue (Mn SAR)
32…will set the path to strong recovery post-COVID Other Opportunities
(not considered in mid-term target)
Booking Value (SAR)
• Scaled fleet base and accelerated acquisition of long- o Pursue new high-
Our Strategy…
2019
term lease contracts margin opportunities
• Rolled out 25+ airport hubs and branches across KSA such as on-demand
343Mn • Established reputation among lease & corporate rental
mobile workshop
I Build a pipeline of future revenue clients for having efficient operations, young fleet (all
services
and asset growth through long- models are less than 2 years old) and well-kept vehicles
term lease contracts with
o Develop online C2C
corporate & government clients
used car sales
• Continued acquisition of operating lease contracts platform
II Achieve scale, profitability and 2020 • Scaled up used car sales channels to dispose of ageing
growth as a traditional rental and/or underutilized fleet
business 434Mn • Revamped car rental application to create a seamless
booking and car pick-up/ drop-off experience
III Leverage digital expertise to
disrupt the market as scale and
efficiencies are realized
• Develop a distributed network of self-service rentals
Mid-term Target
across the Kingdom, with remote vehicle monitoring &
control capabilities for contactless pick-up & drop-off
0.8-1.0Bn • Integrate with online travel aggregators such as Almosafer,
Booking, Expedia, etc.. to reach wider audience
18-20% • Diversify to more high-value rental types e.g. luxury
EBIT Margin
vehicles, motor bikes, etc..
33We launched a revamped Lumi rental application to streamline the rental experience and provide an integrated online to in-store journey Better app experience - Used Save time - Uploading documents and Transparency - Consistency in what Seera’s digital expertise to design a details in app prior to pick-up to the customer sees and gets at significantly superior experience reduce wait time in store from 15 store, including prices, car quality & than competitors mins to
Hospitality
35Seera owns 8 hotels with 1,054 branded room keys, of which 40% are
new, and 1,230 unbranded pilgrims-focused keys
Movenpick Clarion Comfort Comfort Sheraton Shuba’t
Beer Balelah Ajyad Masafi
City Star Airport King Road Suites Olaya Makkah Quraish
Unbranded Unbranded Unbranded
Room keys 228 199 125 90 412 547 491 192
Avg. Daily Rate1 ~558 ~418 ~380 ~364 ~340
Annual Annual Annual
Occupancy1 65% 75% 75% 82.5% 55% Lease Lease Lease
Book value SAR 224M SAR 174M SAR 82M SAR 48M SAR 1.9B SAR 227M SAR 313M SAR 117M
Operational year Operational 2021 2021 2021 Operational Operational Operational Operational
City Jeddah Jeddah Jeddah Riyadh Makkah Makkah Makkah Makkah
Newly developed – Go Live within 2021 Severely impacted by COVID
36
1. Avg. Daily Rate and Occupancy at stabilization (third year or as Umrah restrictions ease)Hospitality …will set the path to strong recovery post-COVID Other Opportunities
(not considered in mid-term target)
Booking Value (SAR)
• Operated Sheraton Jabal Kaabah (Makkah) and Movenpick o Expansion of
Our Strategy… City Star (Jeddah) under mgmt. agreements with brands
2019
Hospitality offerings
• Leased out three unbranded properties in Makkah
• Signed master franchise agreement with Choice Hotels to
in the Middle East
150Mn promote mid-market hotel development in KSA
I Develop hospitality infrastructure
in line with KSA’s leisure & • Developed tailor-made construction & operations Brand
Standards approved by Choice US to cater-with Hospitality
religious tourism agenda Industry needs of Middle East
II Develop franchise/management
• Fully booked the Movenpick City Star Hotel (Jeddah) for the
agreements with global hotel 2020 Ministry of Health to utilize for COVID-19 quarantine
brands • Started the development of three mid-market, next-
54Mn generation hotels in Riyadh and Jeddah under the Choice
brand, with focus on low-capex and low-opex while
providing quality guest experiences
• Gained recognition in the market as a team of qualified
hotelier’s with experience to handle multi-hotel operations
Mid-term Target • Expand into tier-2 cities e.g. Jouf, Ula, Abha, etc.. to
promote tourism infrastructure across the Kingdom by
250-350Mn providing branded mid-market accommodations at
affordable pricing
30-32% • Develop and operate a branded resort in AlBaha Region
EBIT Margin
under the support of the Ministry of Tourism
37We are currently evaluating opportunities to activate Choice branded
hotels in tourist destinations across the Kingdom
JOUF: Rich in natural ASIR: Culturally rich,
terrain, scenic landscapes historic architecture &
and great heritage natural landscapes
Al Muftaha Village Shada Palace Rijal Almaa
The Largest Jouf
Olive Farm
Columns of
Rajajil
Zaabal Castle
in Sakkah
Asir
Jeddah
Riyadh
Makkah Dhee Ayn
TAIF: Scenic, mountainous Taif
Al Hada
Baha Raghadan
trails surrounding an Mountain Forest Park
ancient city BAHA: High-altitude city
Rose Sheda
Plantation with storied towers, lush Village
forests and valleys
Wahba Crater
38Seera is partnering with the Tourism Development Fund to build a 50k m2
mountain resort with 200+ guest rooms & suites in Al Baha region
Site Location Hotel and F&B Souk, Cinema & Multi-Purpose Hall (MPH)
The site of the resort is resting on a cliff that will Luxury rooms facing the valley, access to Theater complex, family entertainment centers,
overlook the mountains and valleys of Al-Baha restaurants, pools, observation decks, etc.. hall for weddings and MICE, and tourist center
(for activities e.g. hiking, mountain climbing, camping)
39Corporate
Ventures
40Seera’s plan is to maximize its UK travel business value over the mid-
term horizon
Seera’s UK business has grown to three divisions… … achieving significant top & bottom-line growth
(Pre-COVID)
Turnover
Business Travel Luxury Leisure Travel Sports Travel (£ Mn) 492 494 488
280
160 170
2014: Seera purchase Elegant Resorts and Co-operative Travel Management 2014 2015 2016 2017 2018 2019
2015: Co-op Travel rebranded to Clarity Travel Management
2016: Clarity Travel Management merges with Portman Travel in Nov 2016 EBITDA
2019: Clarity acquires U.K. based Ian Allan Travel (£ Mn) 6.9 7.1
5.7 4.8
2019: Elegant Resorts acquires If Only
2019: Established a new Sports business with no capital investment by the
2.4 1.7
recruitment of a number of key personnel from the Thomas Cook Sport
2014 2015 2016 2017 2018 2019
2021: Portman acquires InspireSport, an education sports travel specialist
41…will set the path to strong recovery post-COVID Other Opportunities
(not considered in mid-term target)
Booking Value (SAR)
Structured Portman Travel Group into 3 distinct divisions: o Partner with or
Our Strategy… • Business Travel – deepened strength in the following
2019
acquire travel
sectors: Government & Public Sector, Construction and
technology players
Infrastructure, Higher Education, & Financial Services
2.4Bn
I Pursue organic and inorganic • Luxury Leisure Travel – extended B2C and B2B channels,
growth via the acquisition of with emphasis on long-haul destinations, primarily
Caribbean, Middle East and Indian Ocean
leading companies in the travel
• Sports Travel – established business from recruitment of
sector key Thomas Cooks Sports personnel with focus on
professional sports teams & fan travel
II Increase scale & drive synergies 2020
including leveraging Portman • Business Travel – continued domestic travel, particularly in
Group for inbound luxury or 0.7Bn gov’t and infra sectors; focused on client retention
• Luxury Leisure Travel – retained customer bookings where
sports travel from UK to KSA possible (set up SAR125Mn of forward bookings for 2022)
• Sports Travel – sustained profit via premiership football
III Benefit from future profitable exit clubs including Manchester City; organically set up a pan-
from investment in UK Business European Sports DMC & moved into US as source market
Mid-term Target • Business Travel – expand organically in the UK and
globally through a JV with our US partner, plus through
3.0-3.5Bn M&A, targeting opportunistic sellers
• Luxury Leisure Travel – grow organically and through
5-6% M&A with smaller specialist travel businesses
EBITDA Margin • Sports Travel – scale organically by leveraging our
position as market leader, and in the USA and with Seera
in KSA (primarily football), plus M&A with target partners
Note: EBITDA margin is based on gross booking value 42Financial update
432021 H1 2020 H1
SAR SAR
Consumer Travel 698M 701M -0%
Destination SAR SAR
-50%
Management 9M 18M
Despite ~12% decline SAR SAR
in YTD GBV due to
Hajj & Umrah -100%
SAR 2.0B
0 23M
COVID-19, the Car 2021 H1 GBV Business Travel SAR SAR
Rental and Travel
Management 886M 656M 35%
Management A decline of ~12% from
2.3 billion riyals in Car Rental
SAR SAR
11%
businesses continue
245M 220M
H1 2020
to grow Hospitality
SAR
20M
SAR
41M
-51%
SAR SAR
Corporate 184M 654M -72%
Ventures 44Despite COVID-19 challenges, Seera managed to keep losses at lowest
level, posting an operating loss of ~SAR 184Mn vs ~SAR 263Mn
Commentary
Million SAR 2020 H1 2021 H1
GBV: The COVID-19 pandemic had a significant negative
impact on our business in YTD 2021, as the GBV for the entire
GBV group decreased by approximately 12%
Revenue: A decrease of 12% in YTD 2021 compared to YTD
2020
Revenue
Gross Profit: An increase of 10% in YTD 2021 compared to YTD
2020 in the gross profit and GPM grew from 9% to 11% driven
Gross Profit by higher contribution of non air business
Operating Loss: The Group accumulated operating loss
amounted to SAR 184 million in YTD 2021 compared to a loss
Operating Costs of SAR 263 million in YTD 2020 due to: reductions and
rationalizations of all expenses and administrative costs, in
addition to a higher GPM. Management has demonstrated
strong control over spend along with improvements in
Operating Profit/(Loss) marketing efficiency i.e. CRR of consumer travel has increased
by 33% as compared to the initial estimates (1.7% vs 2.6%)
Net Loss: YTD 2020 results recorded a net gain of SAR 940
Net Profit/(Loss) million due to exceptional items including gain on Careem,
impairments on Goodwill, intangibles and other assets, etc..
45Maintaining a strong balance sheet has enabled the Group to weather the impact of
COVID-19
Total Assets (Million Riyals) Total Equity and Liabilities (Million Riyals)
8,221
14
15 7,805
337 27
265 336 Non-current asset held for sale
249 Trade and other payables
1,260 Due from related parties Short Term Bank Debts
1,528 Prepayments & Advances Long Term Bank Debts
Cash & equivalents Minority Interest
Trade & Other Receivables
Non-controlling interest
Non current assets
Shareholder’s Equity
6,331
5,665
Bank Debt to Equity
15% 25%
31.12.20 30.06.21
2021 2020 2021 2020 46Thank you.
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