Leejam turns to SAR 84.8 mln losses in H1 2020

24/08/2020 Argaam Exclusive

Leejam Sports Co. reported a net loss after Zakat and tax of SAR 84.8 million for the first half of 2020, compared to a net profit of SAR 89.2 million in the same period last year.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 436.35 222.03 (49.1 %)
Gross Income 156.61 (10.66) (106.8 %)
Operating Income 114.08 (56.92) (149.9 %)
Net Income 89.19 (84.78) (195.1 %)
Average Shares 52.38 52.38 -
EPS (Riyals) 1.70 (1.62) (195.1 %)

The loss is attributed to lower revenue from membership and personal training (PT) as well as lower rental income.

 

Advertising and marketing expenses increased due to a higher focus on social media in addition to lower general and administrative expenses on decrease in salaries expenses in the lockdown period.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 219.03 24.36 (88.9 %)
Gross Income 81.52 (62.66) (176.9 %)
Operating Income 62.90 (77.81) (223.7 %)
Net Income 49.59 (91.02) (283.5 %)
Average Shares 52.38 52.38 -
EPS (Riyals) 0.95 (1.74) (283.5 %)

The company turned to losses of SAR 91 million in Q2 2020 from a profit of SAR 49.5 million a year earlier on lower revenue.

 

On a quarterly basis, the company reported losses due to lower cost of revenue.

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Share Price

Leejam Sports Co.
188.40
(1.20) (0.63 %)

Leejam Sports Co. (Leejam Sports)

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Financial Ratios
Current
Market Cap (M Riyal) 9,868.96
Enterprise Value (EV) (M) 9,846.89
Shares Outstanding ((M)) 52.38
EPS ( Riyal) (TTM) 9.23
Book Value (BV) ( Riyal) 23.98
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 26.23
P/E (TTM) 20.41
Price/book 7.86
Return on Average Assets (%) (TTM) 14.1
Return on Average Equity (%) (TTM) 42.6
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