Leejam Sports Company (Fitness Time) swung to a net profit after Zakat and tax of SAR 206 million for 2021, versus a net loss of SAR 58.7 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 662.60 | 885.28 | 33.6 % |
| Gross Income | 139.89 | 373.04 | 166.7 % |
| Operating Income | 44.16 | 259.53 | 487.7 % |
| Net Income | (58.72) | 206.02 | 450.8 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | (1.12) | 3.93 | 450.8 % |
The company attributed the strong performance mainly to SAR 222.68 million growth in revenue, a decrease of by SAR 9.75 million in the cost of revenue and a net decrease of SAR 32.31 million in all other costs, including finance costs and Zakat.
The company recorded higher revenue from subscriptions and membership income; personal training income; as well as the rental and other income.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 229.09 | 261.03 | 13.9 % |
| Gross Income | 81.84 | 125.38 | 53.2 % |
| Operating Income | 55.53 | 101.15 | 82.2 % |
| Net Income | (0.51) | 85.91 | 16813.0 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | (0.01) | 1.64 | 16813.0 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 253.84 | 261.03 | 2.8 % |
| Gross Income | 128.46 | 125.38 | (2.4 %) |
| Operating Income | 89.70 | 101.15 | 12.8 % |
| Net Income | 76.20 | 85.91 | 12.7 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | 1.45 | 1.64 | 12.7 % |
In Q4 2021, the gym operator turned to a net profit after Zakat and tax of SAR 85.9 million, against a net loss of SAR 0.52 million in the year-ago period.
Shareholders’ equity, after minority interest, grew by 21% to SAR 804.6 million in 2021, from SAR 664.5 million in 2020.
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