Leejam’s net profit expected to retreat in Q3 2022

25/10/2022 Argaam Exclusive

In this report, Argaam captures the expected results of Leejam Sports Co. (Fitness Time) for the third quarter of 2022, in addition to its quarterly revenue and earnings growth, performance and profitability indicators.

 

The Q3 2022 revenue is expected to rise 2.84% year-on-year (YoY) to SAR 261.06 million.

Quarter Revenue Changes (M Riyal)

Item Q3
2021
Q4
2021
Q1
2022
Q2
2022
Q3
2022
(Average Estimate)
Sales 253.84 261.03 231.62 232.99 261.06
Change % 20.03% 13.94% 55.93% 5.01% 2.84%

Quarter Net Income Changes (M Riyal)

Item Q3
2021
Q4
2021
Q1
2022
Q2
2022
Q3
2022
(Average Estimate)
Net Income 76.20 85.91 46.01 36.02 59.44
Extraordinary income/expense 0.00 0.00 0.00 0.00 -
Net Profit Before Unusual Items 76.20 85.91 46.01 36.02 -
EPS Before Unusual Items (Riyal/Share) 1.45 1.64 0.88 0.69 1.13

Key events in Q3 2022

 

The Tadawul-listed company opened two new centers, Xpress Fitness Center for ladies and Fitness Time for men. Accordingly, the total number of the company’s centers inside and outside the Kingdom reached 153.

 

Leejam’s board recommended paying a cash dividend at 3.7% of capital, or SAR 0.37 per share, for Q2 2022.

 

Quarterly Profit and Revenue (M Riyal)

Average estimates

 

Leejam is likely to post a profit of SAR 59 million in Q3 2022, compared to SAR 76.2 million in the year-ago period, according to average estimates by five research firms.

Quarterly Actuals vs Estimates (M Riyal)

Average Estimate (M Riyal)

Analyst Million Riyals
EFG-Hermes KSA 70.00
AlJazira Capital Company 64.40
U-Capital Co. 63.00
Al Rajhi Capital Company 60.00
Securities & Investment Company 55.00
SNB Capital Company 52.70
Arqaam Capital Limited Co. 51.00
Average 59.44
Net Profit Before Unusual Items (2021 - Q3) 76.20
Change % (21.99%)

Performance and profitability indicators

 

The following table compares the stock performance to the market, trailing 12 months and year to date, earnings per share (EPS) and price-to-earnings (P/E).

P/E (TTM)

Stock Performance

Item The Company TASI
YTD (5.60 %) 5.66 %
Change(12M) 15.25 % 0.71 %
Previous Close 76.00 11,973.86
P/E adjusted (x) 16.87 20.84
EPS (TTM) before unusual items (SAR/Share) 4.66 -
192.00
2.00 1.05 %

Valuation Data (Latest Share Price)

P/E (TTM) 20.81
P/E Before Unusual Items (TTM) 26.84
P/BV 8.01
Dividend Yield 1.80 %
Market Cap. (M) 10,057.54
Return on Average Assets 14.54 %
Return on Average Equity 42.60 %

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