Financial Results : Leejam Q1 2025 profit declines 25% to SAR 70.9M

Leejam Q1 2025 profit declines 25% to SAR 70.9M

06/05/2025 Argaam Exclusive

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Leejam Sports Co. reported a 25% year-on-year (YoY) decline in net profit to SAR 70.9 million for Q1 2025, down from SAR 94.2 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 340.40 368.89 8.4 %
Gross Income 138.24 129.63 (6.2 %)
Operating Income 98.15 89.13 (9.2 %)
Net Income 94.22 70.89 (24.8 %)
Average Shares 52.38 52.38 -
Earnings Per Share before unusual items (Riyal) 1.54 1.25 (18.6 %)
EPS (Riyal) 1.80 1.35 (24.8 %)

The drop was attributed to the absence of an SAR 18 million one-off gain booked in Q1 2024 from lease negotiations related to a previously written-off center in Ras Al Khaimah, UAE.

 

Cost of revenue rose 18%, driven by the addition of 30 new Fitness Time centers over the 12 months to Q1 2025. Operating expenses, including general and administrative, selling, and marketing costs, increased 3% YoY as the company ramped up spending on talent acquisition, digital transformation, and institutional development.

 

Returns from short-term Murabaha placements declined, while new group-related entities and investments incurred losses.

 

Revenue rose 8% YoY to SAR 369 million in Q1 2025, supported by a 10% increase in membership income, as club count and subscriber numbers continued to grow.

 

Compared to the previous quarter, Q1 2025 net profit fell 30.8% from SAR 102.4 million in Q4 2024.

 

Shareholders’ equity, no minority interest, stood at SAR 1.23 billion by the end of the current period, compared to SAR 1.11 billion in the year-earlier period.

 

Attached Document:

 

 

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