Leejam Sports Co. · TADAWUL:1830
Leejam Sports — FY2024 Earnings Presentation
34 slides from Leejam Sports's earnings presentation, February 2025
Slide 1: Earnings Presentation FY 2024
Earnings Presentation F Y 2 0 2 4 - Fe b 2 0 2 4
Slide 2: Disclaimer
DISCLAIMER All information included in this document is for general use only and has not been independently verified, nor does it constitute or form part of any invitation or inducement to engage in any investment activity, nor does it constitute an offer or invitation or recommendation to buy or su
Slide 3: Executive Summary
Executive Summary
Slide 4: Led by its Core, Leejam achieved constant growth despite record center openings
Led by its Core, Leejam achieved constant growth despite record center openings FY 1,501 13% 623 7% 447 (1%) 742 6% 454 28% 2024 Revenue Gross Profit Operating Profit EBTIDA Net Profit Q4 408 2% 174 (9%) 119 (23%) 197 (10%) 100 (22%) 2024 Revenue Gross Profit Operating Profit EBTIDA Net Profit SAR M
Slide 5: Leejam grew its network, with a focus on members retention & satisfaction
Leejam grew its network, with a focus on members retention & satisfaction 223 +36 144 +19 59 +10 159 +21 44 +8 20 +7 Total Centers, Male Centers Female Centers Big Box Centers Xpress Centers Studios & Studios and Academies Academies 486K 23% 39M 17% 909K 28% 319K 15% 3M 4% 26 30% Members Total Visit
Slide 6: Comprehensive Coverage Across the Fitness Market, with Dedicated Solutions for Every Market Segment
Comprehensive Coverage Across the Fitness Market, with Dedicated Solutions for Every Market Segment Concept Studios & Premium Tier Middle Tier Low Cost, High Value Academies 4 Centers 155 Centers 44 Centers 20 Centers 4 Male Centers 101 Male Centers 39 Male Centers 12 Male Centers 0 Ladies' Centers
Slide 7: Network Expansion & Members Trend
Network Expansion & Members Trend
Slide 8: Center Movement during 2024
Center Movement during 2024 223 +24 Centers 187 Openings 12 11 9 7 Fitness Time Centers 203 +29 Centers 0 BigBox Male BigBox Female Xpress Male Xpress Female Concept Studio 174 Closure 0 0 -1 -1 -1 Concept BigBox Male BigBox Female Xpress Male Xpress Female Concept Studio Studios 13 20 +7 Centers DE
Slide 9: Fitness Time Memberships continue its growth reaching record numbers
Fitness Time Memberships continue its growth reaching record numbers during 2025 … Total YE Members Daily Ave. Members Total YE Members / Segment YE Members / Center In Thousand In Thousand In Thousand In Thousand 443 Female 486 113 Female 395 Female Female +26% +12% 2.2 396 +14.8% 90 1.9 Male +23%
Slide 10: Subscription mix shifted to longer-term during 2024
Subscription mix shifted to longer-term during 2024, with a major shift on Q3 Sold Subscription per Product Sold Subscription per Product % of Total % of Total Sold Units 64% Sold Units 65% 52% 39% 22% 17% 18% 17% 15% 17% 13% 13% 10% 10% 4% 4% 5% 3% 4% 4% 1% 1% 3% 1% 0.0% 0.0% 0.0% 0.0% 1 MONTH 3 MO
Slide 11: Financial Review
LecANM Financial Review
Slide 12: Financial Performance – Q4 Review
Financial Performance – Q4 Review REVENUE GROSS PROFIT In Millions SAR In Millions SAR 191 398 408 174 +2% (9%) Q4 2023 Q4 2024 Q4 2023 Q4 2024 EBITDA NET PROFIT In Millions SAR In Millions SAR 129 222 197 100 (10%) (22%) Q4 2023 Q4 2024 Q4 2023 Q4 2024 Confidential and Proprietary Information 12
Slide 13: Financial Performance – Q4 Review
Financial Performance – Q4 Review GROSS PROFIT MARGIN EBITDA MARGIN Group FT Only Group FT Only 56% 57% 48% 47% 43% 44% 48% 48% (3%) (8%) (5%) (8%) Q4 2023 Q4 2024 Q4 2023 Q4 2024 NET PROFIT MARGIN Group FT Only 32% 30% 25% 25% (5%) (4%) Q4 2023 Q4 2024 Confidential and Proprietary Information 13
Slide 14: Financial Performance – FY 2024 Review
Financial Performance – FY 2024 Review REVENUE GROSS PROFIT In Millions SAR In Millions SAR 1501 1325 585 623 +13% +7% 2023 2024 2023 2024 EBITDA NET PROFIT In Millions SAR In Millions SAR Normalized One-Offs 456 356 742 +23% 701 312 +6% 319 (2%) 144 37 2023 2024 2023 2024 Confidential and Proprieta
Slide 15: Financial Performance – FY 2024 Review
Financial Performance – FY 2024 Review GROSS PROFIT MARGIN EBITDA MARGIN Group FT Only Group FT Only 53% 53% 44% 44% 49% 50% 42% 42% (2%) (3%) (2%) (4%) 2023 2024 2023 2024 NET PROFIT MARGIN NET PROFIT MARGIN – Excluding One-offs Group FT Only Actual Normalized 30% 31% 30% 27% 27% 27% 24% 21% +4% +3
Slide 16: Q4 2024 COR, G&A and S&M
Q4 2024 COR, G&A and S&M COR G&A and S&M In Millions SAR In Millions SAR COR COR / Center S&M G&A 234 207 47 31 1.3 1.3 7 9 2023 2024 2023 2024 Key notes Key notes • An increase of 13% in overall cost of revenue compared to Q4 An increase in G&A and S&M expenses by 48% due to: 2023 due to the additi
Slide 17: FY 2024 COR, G&A and S&M
FY 2024 COR, G&A and S&M COR G&A and S&M In Millions SAR In Millions SAR COR COR / Center S&M G&A 878 741 150 4.7 116 4.5 17 25 2023 2024 2023 2024 Key notes Key notes An increase in G&A and S&M expenses by 31% due to: • Higher number of members drove consumables and cleanings costs. • Investments i
Slide 18: Strong financial position to fund future expansion
Strong financial position to fund future expansion Cash In Millions& CE SAR Loans Deferred Revenue In Millions SAR In Millions SAR In Millions SAR 331 277 303 Deferred Revenue Deferred Revenue / Center 8 504 7 444 6 5 +9% +14% 106 4 2.7 2.7 3 (62%) 2 1 2023 2024 2023 2024 2023 2024 Key notes Key not
Slide 19: Strong financial position, solid returns, and low leverage level
Strong financial position, solid returns, and low leverage level CR & DEBT RATIOS ROE, ROIC, ROCE Current Ratio = Total CA / (TCL-Deferred Revenue) ROE = Net Profit / Total Equity D/E Ratio = (Total Liability – Deferred Revenue) / Total Equity ROIC = Net Profit / Invested Capital ROCE = EBIT / Total
Slide 20: Strong cash generation with accelerated investment on expansion
Strong cash generation with accelerated investment on expansion Free Cash Flow All Amounts in million (SAR) 195 2024 781 152 28 277 (585) (20) (164) 108 (282) (53) (24) Operating CF, Net Other Investment… Loan Borrowings.… Divident paid Other Financing CF Cash as of Beginning CapEx Land Sale Lease P
Slide 21: FY 2024 Lease Payments Breakdown
FY 2024 Lease Payments Breakdown Number In Millionsof SARLeases Average Lease Payments / Center Actual In Millions SAR 39 36 0.74 0.74 173 182 0.75 0.78 2023 2024 2023 2024 Lease payment/ Centers Operating Non Operating Lease payment/Operating Centers Confidential and Proprietary Information 21
Slide 22: Segments Performance
Segments Performance
Slide 23: Segment Performance – Source – Annual
Segment Performance – Source – Annual By Source By Sector In Millions SAR In Millions SAR +10% 2023 2024 2023 2024 1,269 +13% 1,483 1,153 1,316 +31% 193 +16% 148 +87% +127% 16 20 9 19 9 19 Sub & Member PT Rental Other Fitness Time Other Confidential and Proprietary Information 23
Slide 24: For Fitness Time, Female segment showed strong growth while male segment still the dominate
For Fitness Time, Female segment showed strong growth while male segment still the dominate REVENUE GROSS PROFIT GP Margin In Millions SAR In Millions SAR In Millions SAR Male Female Male Female Male Female Female Female +11% 114 103 Female 49 Female Female 49 48% Female 43% +3% Male Male 288 298 Ma
Slide 25: For Fitness Time, Female segment showed strong growth while male segment still the dominate
For Fitness Time, Female segment showed strong growth while male segment still the dominate REVENUE GROSS PROFIT GP Margin In Millions SAR In Millions SAR In Millions SAR Male Female Male Female Male Female Female Female +19% 389 Female +15% 148 Female Female 129 39% Female 328 38% +11% +5% Male Mal
Slide 26: Performance per Center
LEEUAM Performance per Center
Slide 27: Performance per Center by Quarters
Performance per Center by Quarters REVENUE vs REVENUE PER CENTER In Millions SAR 2.4 2.1 2.2 2.1 2.2 2.2 2.0 2.1 1.9 1.9 1.9 1.9 1.9 1.9 1.8 1.8 1.8 1.7 1.8 1.7 1.8 1.7 1.6 1.6 1.6 1.1 398 406 408 337 348 344 344 267 264 278 301 225 238 230 222 261 232 233 187 210 217 219 196 0.2 210 211 149 24 Q2 Q
Slide 28: For Fitness Time, Female segment showed strong growth male segment still the dominate
For Fitness Time, Female segment showed strong growth male segment still the dominate REVENUE GROSS PROFIT GP Margin In Millions SAR In Millions SAR Female Female 2.20 Female 1.05 (1%) 2.18 Female (11%) Female 48% 0.93 (5%) Female 43% Male (10%) Male Male (20%) Male 2.48 1.23 Male Male 2.24 50% (6%)
Slide 29: For Fitness Time, Female segment showed strong growth male segment still the dominate
For Fitness Time, Female segment showed strong growth male segment still the dominate REVENUE GROSS PROFIT GP Margin In Millions SAR In Millions SAR Male Female Male Female Male Female Female Female Female 2.77 Female Female Female 2.82 39% 7.02 +5% 38% 7.40 +2% (3%) Male Male Male Male (8%) Male Ma
Slide 30: Exceptional returns to shareholders since listing
Exceptional returns to shareholders since listing Share Performance Leejam Share TASI 500% 400% 300% 264% 200% 100% 56% 0% -100% -200% -300% -400% Key notes Key notes • 286% total shareholder return (TSR) since the IPO • Since listing, Leejam’s share outperformed the market 4X Confidential and Propr
Slide 31: Outlook
LEEUAM Outlook
Slide 32: Achievement Against Guidance
Achievement Against Guidance Category Expected by Achievement 31-Dec-24 31-Dec-24 Female 5 5 Xpress Male 35 - 38 39 Female 58 - 63 54 Big Box Male 110 - 115 105 Concept Studios 15 17 Academies 6 5 Total 229 - 246 223 Confidential and Proprietary Information 32
Slide 33: 2025 Outlook and Center Pipeline
Balance Sheet Deferred Revenue Pipeline 2025 growth will be driven by: In Millions SAR • Further growing LFL and & Non LFL Centers • Improving customer experience, member retention & services 289 • Further openings of Xpress & Big Box centers • Continuing focus/growth on Corporate wellness & PT busi
Slide 34: Thank You! Q&A
Thank You! Q&A For enquires, please contact the Investor Relations Department at: investor.relations@leejam.com.sa