Leejam Sports reports 9% profit rise in 9M 2019

10/11/2019 Argaam Exclusive

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Leejam Sports Co. (Fitness Time) reported net profit after zakat and tax of SAR 138 million for the first nine months of 2019, a jump of 9.3 percent year-on-year (YoY), driven by higher revenue.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 574.81 674.72 17.4 %
Gross Income 211.22 241.63 14.4 %
Operating Income 136.69 176.07 28.8 %
Net Income 126.24 138.00 9.3 %
Average Shares 52.38 52.38 -
EPS (Riyals) 2.41 2.63 9.3 %

Leejam's net profit after zakat and tax for Q3 2019 dropped 9.2 percent YoY to SAR 48.81 million, due to higher cost of revenue and increased cost of finance.

 

On a sequential basis, Q3 2019 net profit decreased 1.57 percent.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 210.29 238.37 13.4 %
Gross Income 85.78 85.03 (0.9 %)
Operating Income 58.87 62.00 5.3 %
Net Income 53.76 48.81 (9.2 %)
Average Shares 52.38 52.38 -
EPS (Riyals) 1.03 0.93 (9.2 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2010 - - - - - - -
Q2 2010 - - - - - - -
Q3 2010 - - - - - - -
Q4 2010 - - - - - - -
Q1 2011 - - - - - - -
Q2 2011 - - - - - - -
Q3 2011 - - - - - - -
Q4 2011 - - - - - - -
Q1 2012 - - - - - - -
Q2 2012 - - - - - - -
Q3 2012 - - - - - - -
Q4 2012 - - - - - - -
Q1 2013 - - - - - - -
Q2 2013 - - - - - - -
Q3 2013 - - - - - - -
Q4 2013 - - - - - - -
Q1 2014 - - - - - - -
Q2 2014 - - - - - - -
Q3 2014 - - - - - - -
Q4 2014 - - - - - - -
Q1 2015 - - - - - - -
Q2 2015 - - - - - - -
Q3 2015 - - - - - - -
Q4 2015 - - - - - - -
Q1 2016 - - - - - - -
Q2 2016 - - - - - - -
Q3 2016 - - - - - - -
Q4 2016 - - - - - - -
Q1 2017 177.31 - 70.89 - 42.06 - 0.80
Q2 2017 176.30 - 66.21 - 40.47 - 0.77
Q3 2017 184.83 - 70.63 - 43.18 - 0.82
Q4 2017 194.44 - 70.67 - 48.49 - 0.93
Q1 2018 177.53 0.1 % 58.24 (17.8 %) 32.71 (22.2 %) 0.62
Q2 2018 186.99 6.1 % 67.20 1.5 % 39.76 (1.8 %) 0.76
Q3 2018 210.29 13.8 % 85.78 21.5 % 53.76 24.5 % 1.03
Q4 2018 225.14 15.8 % 94.11 33.2 % 53.86 11.1 % 1.03
Q1 2019 217.32 22.4 % 75.09 28.9 % 39.60 21.1 % 0.76
Q2 2019 219.03 17.1 % 81.52 21.3 % 49.59 24.7 % 0.95
Q3 2019 238.37 13.4 % 85.03 (0.9 %) 48.81 (9.2 %) 0.93

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 37.99 % 32.31 % 23.77 %
Q1 2018 36.25 % 34.21 % 22.49 %
Q2 2018 35.86 % 37.31 % 22.07 %
Q3 2018 36.65 % 37.99 % 22.71 %
Q4 2018 38.17 % 37.73 % 22.51 %
Q1 2019 38.37 % 40.22 % 22.27 %
Q2 2019 38.60 % 43.42 % 22.58 %
Q3 2019 37.31 % 45.58 % 21.33 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2010 - - - -
Q2 2010 - - - -
Q3 2010 - - - -
Q4 2010 - - - -
Q1 2011 - - - -
Q2 2011 - - - -
Q3 2011 - - - -
Q4 2011 - - - -
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 52.38 - - -
Q2 2017 52.38 - - -
Q3 2017 52.38 - - -
Q4 2017 52.38 3.33 3.33 12.01
Q1 2018 52.38 3.15 3.15 12.14
Q2 2018 52.38 3.13 3.13 12.56
Q3 2018 52.38 3.34 3.34 13.58
Q4 2018 52.38 3.44 3.44 13.62
Q1 2019 52.38 3.57 3.57 12.03
Q2 2019 52.38 3.76 3.76 12.56
Q3 2019 52.38 3.66 3.66 12.98

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 16.04 16.04 3.94
Q4 2018 17.10 17.10 4.32
Q1 2019 19.33 19.33 5.74
Q2 2019 19.96 19.96 5.97
Q3 2019 22.28 22.27 6.29

Business Segments (Million)

Compared With The
Period Male fitness center Female fitness center
Q3 2017 181.04 3.79
Q1 2018 159.48 18.04
Q2 2018 163.58 23.41
Q3 2018 174.66 35.63
Q4 2018 178.16 46.98
Q1 2019 166.43 50.89
Q2 2019 169.38 49.65
Q3 2019 182.93 55.44

Analysts Estimates (Million)

Item Q3 2019 (e) Q3 2019 (a) Change‬
Average 63.33 48.81 (22.9 %)

Estimates vs Actual (Million)

Item Q3 2019 (e) Q3 2019 (a) Change
Al Rajhi Capital 59.00 48.81 (17.3) %
SNB Capital 64.00 48.81 (23.7) %
OSOOL AND BAKHEET 67.00 48.81 (27.1) %


Financial Ratios
Current
Market Cap (M Riyal) 11,388.06
Enterprise Value (EV) (M) 11,571.53
Shares Outstanding ((M)) 52.38
EPS ( Riyal) (TTM) 7.40
Book Value (BV) ( Riyal) 21.26
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 29.54
P/E (TTM) 29.37
Price/book 10.22
Return on Average Assets (%) (TTM) 12.4
Return on Average Equity (%) (TTM) 38.1
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Share Price

Leejam Sports Co.
217.40
(7.00) (3.12 %)

Leejam Sports Co. (FITNESS TIME)

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