Leejam 2022 profit jumps 25% to SAR 257.3 mln; Q4 at SAR 107.2 mln

05/03/2023 Argaam Exclusive

Leejam Sports Co. (Fitness Time) reported a rise of 25% in its annual net profit to SAR 257.3 million, compared to SAR 206 million in 2021. 



Financials (M)

Item 2021 2022 Change‬
Revenues 885.28 1,065.79 20.4 %
Gross Income 373.04 433.62 16.2 %
Operating Income 259.53 314.43 21.2 %
Net Income 206.02 254.76 23.7 %
Average Shares 52.38 52.38 -
EPS (Riyals) 3.93 4.86 23.7 %

The gym operator reported higher revenue, thanks to an increase in the number of operating centers after opening 11 new centers during the year, various promotional campaigns, in addition to the increase in number of operating days, compared to 2021.  

 

The better revenue was driven by a rise in subscriptions and membership revenue by SAR 157.4 million. Personal training (PT) revenue also increased by SAR 12.7 million, with rental income and other income growing by SAR 10.4 million in the same period. 

 

The fourth-quarter net profit also climbed 25% to SAR 107.2 million, from SAR 85.91 million in Q4 2021.

 

Leejam’s net profit rose 57.5% in Q4 2022 from SAR 68.06 million in Q3 2022.  



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 261.03 336.72 29.0 %
Gross Income 125.38 162.68 29.7 %
Operating Income 101.15 117.88 16.5 %
Net Income 85.91 104.66 21.8 %
Average Shares 52.38 52.38 -
EPS (Riyals) 1.64 2.00 21.8 %

Total shareholders’ equity, no minority interest, increased to SAR 938.5 million as of Dec. 31, 2022, compared to SAR 804.6 million a year earlier.

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Share Price

Leejam Sports Co.
179.40
1.00 0.56 %

Leejam Sports Co. (Leejam Sports)

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Financial Ratios
Current
Market Cap (M Riyal) 9,397.51
Enterprise Value (EV) (M) 9,375.44
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) 24.98
P/E (TTM) 19.44
Price/book 7.48
Return on Average Assets (%) (TTM) 14.1
Return on Average Equity (%) (TTM) 42.6
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