Leejam Sports H1 2019 net profit rises 23%

04/08/2019 Argaam Exclusive

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Leejam Sports Co. (Fitness Time) reported a net profit after zakat and tax of SAR 89.19 million for the first half of 2019, a rise of 23 percent year-on-year (YoY), the company said in a bourse statement.

Financials (M)

Item	6m 2018	6m 2019	Change‬
Revenues	364.52	436.35	19.7 %
Gross Income	125.44	156.61	24.8 %
Operating Income	77.82	114.08	46.6 %
Net Income	72.47	89.19	23.1 %
Average Shares	52.38	52.38	-
EPS (Riyals)	1.38	1.70	23.1 %

The rise was driven by an increase in revenue of SAR 71. 8 million, partly offset by an increase in the cost of revenue by SAR 40.7 million, and net increase in all other costs.

The company’s Q2 net profit after zakat and tax rose 24.7 percent YoY to SAR 49.59 million due to a growth in net revenue of SAR 1.7 million and decrease in all other costs.

On a sequential basis, Q2 net profit increased 25.25 percent compared to the previous quarter on lower cost of revenues.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2018	Q2 2019	Change‬
Revenues	186.99	219.03	17.1 %
Gross Income	67.20	81.52	21.3 %
Operating Income	43.24	62.90	45.5 %
Net Income	39.76	49.59	24.7 %
Average Shares	52.38	52.38	-
EPS (Riyals)	0.76	0.95	24.7 %

Item	Q1 2019	Q2 2019	Change‬
Revenues	217.32	219.03	0.8 %
Gross Income	75.09	81.52	8.6 %
Operating Income	51.18	62.90	22.9 %
Net Income	39.60	49.59	25.2 %
Average Shares	52.38	52.38	-
EPS (Riyals)	0.76	0.95	25.2 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
Q1 2011	-	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-	-
2011	-	-	-	-	-	-	-
Q1 2012	-	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-	-
2012	-	-	-	-	-	-	-
Q1 2013	-	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-	-
2013	-	-	-	-	-	-	-
Q1 2014	-	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-	-
2014	450.30	-	202.68	-	137.76	-	2.63
Q1 2015	-	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-	-
2015	594.84	32.1 %	262.24	29.4 %	180.98	31.4 %	3.46
Q1 2016	-	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-	-
2016	700.89	17.8 %	305.32	16.4 %	203.13	12.2 %	3.88
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
2017	732.88	4.6 %	278.40	(8.8 %)	174.20	(14.2 %)	3.33
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
2018	799.95	9.2 %	305.33	9.7 %	180.09	3.4 %	3.44
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

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
2011	-	-	-	-	-	-	-
2012	-	-	-	-	-	-	-
2013	-	-	-	-	-	-	-
2014	450.30	-	202.68	-	137.76	-	2.63
2015	594.84	32.1 %	262.24	29.4 %	180.98	31.4 %	3.46
2016	700.89	17.8 %	305.32	16.4 %	203.13	12.2 %	3.88
2017	732.88	4.6 %	278.40	(8.8 %)	174.20	(14.2 %)	3.33
2018	799.95	9.2 %	305.33	9.7 %	180.09	3.4 %	3.44

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	45.01 %	43.93 %	30.59 %
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	44.09 %	43.79 %	30.43 %
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	43.56 %	42.91 %	28.98 %
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	37.99 %	32.31 %	23.77 %
2017	37.99 %	38.45 %	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 %
2018	38.17 %	37.73 %	22.51 %
Q1 2019	38.37 %	40.22 %	22.27 %
Q2 2019	38.60 %	43.42 %	22.58 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	45.01 %	43.93 %	30.59 %
2015	44.09 %	43.79 %	30.43 %
2016	43.56 %	42.91 %	28.98 %
2017	37.99 %	38.45 %	23.77 %
2018	38.17 %	37.73 %	22.51 %

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	39.98 %	-	23.72 %
Q2 2017	37.56 %	-	22.96 %
Q3 2017	38.21 %	38.67 %	23.36 %
Q4 2017	36.35 %	38.44 %	24.94 %
Q1 2018	32.81 %	34.37 %	18.43 %
Q2 2018	35.94 %	37.60 %	21.26 %
Q3 2018	40.79 %	40.98 %	25.57 %
Q4 2018	41.80 %	37.44 %	23.92 %
Q1 2019	34.56 %	44.60 %	18.22 %
Q2 2019	37.22 %	50.71 %	22.64 %

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

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	-	-	-	-
2010	-	-	-	-
2011	-	-	-	-
2012	-	-	-	-
2013	-	-	-	-
2014	52.38	2.63	2.63	8.51
2015	52.38	3.46	3.46	8.46
2016	52.38	3.88	3.88	10.00
2017	52.38	3.33	3.33	12.01
2018	52.38	3.44	3.44	13.62

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

Period	P/E	Adjusted P/E	Price/book
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	17.10	17.10	4.32

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

Period	Male fitness center	Female fitness center
2018	675.89	124.06

Analysts Estimates (Million)

Item	Q2 2019 (e)	Q2 2019 (a)	Change‬
Average	47.00	49.59	5.51 %

Estimates vs Actual (Million)

Item	Q2 2019 (e)	Q2 2019 (a)	Change
SNB Capital	47.00	49.59	5.5 %

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

Leejam Sports Co. (FITNESS TIME)

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Leejam Sports H1 2019 net profit rises 23%

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2019 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

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Leejam Sports H1 2019 net profit rises 23%

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2019

Revenue by Business Segment (Latest) 2019 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Leejam Sports Co. (FITNESS TIME)

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Business Segments (Million)