Leejam’s H1 2025 net profit down to SAR 144M; Q2 at SAR 73.1M

Leejam Sports Co. (Leejam) reported a net profit of SAR 144 million for the first half of 2025, down from SAR 167.4 million in the year-earlier period.

The profit decline during the current period was attributed to an 18% year-on-year (YoY) increase in the total cost of revenue, driven by the expansion in the number of Fitness Time centers.

In addition, Leejam reported a 14% rise in general and administrative expenses as well as selling and marketing expenses, due to increased investment in attracting qualified talent, digital transformation projects, and institutional development initiatives.

It also witnessed lower returns from short-term Murabaha investments, as well as several one-off financial impacts, such as a reversal of a previously recorded impairment provision of SAR 3 million, a reversal of a Zakat provision of SAR 3.7 million, losses of SAR 5 million, a one-time gain of SAR 8 million, primarily from the resumption of construction at a previously written-off center in Taif, Saudi Arabia.

Leejam’s revenues rose 10% YoY in H1 2025 to SAR 744 million on a 9% YoY increase in subscription and membership revenues, in addition to a 9% YoY rise in personal training services revenue.

The company’s profits dropped 0.1% YoY in Q2 2025 to SAR 73.1 million.

On a sequential basis, net earnings rose 3.1% from SAR 70.8 million.

Total shareholders’ equity (after minority interest) stood at SAR 1.26 billion as of June 30, 2025, compared to SAR 1.13 billion a year earlier.

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