Financial Results : Leejam 9M 2025 profit dips to SAR 224M; Q3 at SAR 81M

Leejam 9M 2025 profit dips to SAR 224M; Q3 at SAR 81M

28/10/2025 Argaam Exclusive

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Leejam Sports Co. reported a net profit of SAR 224 million for the first nine months of 2025, down from SAR 354 million in the year-earlier period.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 1,081.00 1,183.00 9.4 %
Gross Income 444.00 434.00 (2.3 %)
Operating Income 326.00 300.00 (8.0 %)
Net Income 354.00 224.00 (36.7 %)
Average Shares 52.38 52.38 -
Earnings Per Share before unusual items (Riyals) 4.74 4.08 (14.0 %)
EPS (Riyal) 6.76 4.28 (36.7 %)

The profit retreat was mainly due to a non-recurring gain of SAR 92 million recorded in Q3 2024 from the sale of three land plots.

 

Total cost of revenue increased 18% due to the expansion in the number of Fitness Time centers.

 

General and administrative, selling, and marketing expenses rose 16% due to higher investments in talent acquisition, digital transformation projects, and corporate development initiatives, in addition to National Day campaign expenses recognized in Q3 2025.

 

Lower income from short-term Murabaha deposits was recorded during the period.

 

However, the company reported a 9% increase in revenue during the first nine months of 2025 on a 9% rise in membership and subscription revenue, supported by a higher number of centers and members.

 

It posted a 9% YoY growth in personal training service revenue.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 401.00 439.00 9.5 %
Gross Income 172.00 170.00 (1.2 %)
Operating Income 128.00 118.00 (7.8 %)
Net Income 187.00 81.00 (56.7 %)
Average Shares 52.38 52.38 -
Earnings Per Share before unusual items (Riyal) 1.82 1.55 (15.0 %)
EPS (Riyal) 3.57 1.55 (56.7 %)

Leejam’s profits dropped 56.7% to SAR 81 million in Q3 2025, versus SAR 187 million in Q3 2024.

 

On a sequential basis, net earnings rose 12.5% from SAR 72 million in Q2 2025.

 

Total shareholders’ equity, after excluding minority interest, stood at SAR 1.3 billion as of Sept. 30, 2025, compared to SAR 1.25 billion a year earlier.

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