Leejam Sports Company (Fitness Time) reported net loss after Zakat and tax of SAR 58.2 million for the first nine months of 2020, versus net profit of SAR 138 million in year-earlier period, driven by SAR 245.30 million lower revenue, higher costs, decreased memberships revenue and higher marketing expenses.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 674.72 | 433.51 | (35.7 %) |
| Gross Income | 241.63 | 58.05 | (76.0 %) |
| Operating Income | 176.07 | (11.36) | (106.5 %) |
| Net Income | 138.00 | (58.21) | (142.2 %) |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | 2.63 | (1.11) | (142.2 %) |
The third-quarter net profit after Zakat and tax dropped 45% YoY to SAR 26.6 million, backed by a SAR 28.8 million decline in revenue.
On a sequential basis, Leejam turned to profit in Q3 2020, versus net loss of SAR 91.02 million in Q2 2020.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 238.37 | 211.48 | (11.3 %) |
| Gross Income | 85.03 | 68.71 | (19.2 %) |
| Operating Income | 62.00 | 45.56 | (26.5 %) |
| Net Income | 48.81 | 26.57 | (45.6 %) |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | 0.93 | 0.51 | (45.6 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 24.36 | 211.48 | 768.3 % |
| Gross Income | (62.66) | 68.71 | 209.7 % |
| Operating Income | (77.81) | 45.56 | 158.6 % |
| Net Income | (91.02) | 26.57 | 129.2 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | (1.74) | 0.51 | 129.2 % |
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