Leejam Sports Co. · TADAWUL:1830
Leejam Sports — Q1 2023 Earnings Presentation
21 slides from Leejam Sports's earnings presentation, May 1, 2023
Slide 1: Earnings Presentation Q1 2023
—_—— L_—_/ Lee EARNINGS PRESENTATION Q1 2023
Slide 2: Table of Contents
TABLE OF CONTENTS |. DISCLAIMER 3 Il. COMPANY'S PROFILE & OVERVIEW 4 Ill FINANCIAL PERFORMANCE 9 IW. OUTLOOK 2022 a LezUAM
Slide 3: 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 subscribe for
Slide 4: Company's Profile & Overview
Slide 5: Vision, mission and values
To be the people’s favourite and most accessible wellness club. To steer society towards a healthy lifestyle and encourage people to exercise daily. • Customer service excellence • Integrity • Responsibility • Collaboration • Innovation
Slide 6: Leejam currently operates the following fitness brands
Company Profile & Overview Leejam currently operates the following fitness brands: Leejam aims to offer a winning solution to the masses; an easily affordable and accessible fitness centre that allows users to access market leading facilities, with different sizes, locations, products and services t
Slide 7: Female Segment, Male Segment, Corporate Business
Company Profile & Overview Female Segment Male Segment 66K 46 202K 114 Item (SAR M) Q1 2023 Revenue 277.0 Gross profit 108.7 Operating Profit 77.6 Members Centers Members Centers EBITDA 137.1 Net Profit 62.7 Cash and cash equivalents Corporate Business Total 283.9 65K 240+ 333K 160 Margins Q1 2023 G
Slide 8: Member Count Movement
Financial Performance Male Female 66 K Member Count Movement 202 K 155 K 47 K • Memberships grew at end of Q1 2023 by 36% compared to the end of Q1 2022 level. Q1 2022 Q1 2023 Q1 2022 Q1 2023 • The company's business is historically affected by seasonality, as the winter season is considered the lea
Slide 9: Financial Performance
Slide 10: Revenue, Gross Profit, EBITDA, Net Profit
Financial Performance Revenue Gross Profit 120.0 80% Revenue 277.0 100.0 108.7 75% • Grew by 20% driven by volume as company added 10 new 70% 231.6 65% centers since Q1 2022 as well as continuing the 85.7 80.0 60% refurbishments program of existing centers. 60.0 55% 50% 39.2% 40.0 45% 37.0% Gross Pr
Slide 11: Current Assets, Cash, Current Liabilities, Loans
Financial Performance Current Assets Cash Current Assets Increased by 66% mainly due to the increase in Cash. 283.9 352.9 Cash Increased by 91% mainly driven by higher subscriptions sales 212.3 148.3 during the quarter. Current Liabilities Increased by 15% mainly due to the increase in deferred Q1 2
Slide 12: Cash Flow from Operations, Investing and Financing
Financial Performance Cash Flow from Operation Investing Cash Flow Cash Flow from Operations Increased by 20% mainly due to increase in profit. 110.7 45.6 92.3 Investing Cash Flow 29.0 Increased by 57% due to higher spending on projects. Cash Flow from Financing Decreased by 14% mainly due to higher
Slide 13: Revenue per center and Net Income per center
Financial Performance 400.0 2.5 2.2 350.0 1.8 1.7 1.7 2.0 1.7 300.0 1.5 1.6 1.6 250.0 Revenue per center 1.5 200.0 1.1 11% higher compared to Q1 2022, mainly due to high number 1.0 of members driven by additional centers. We expect revenue 150.0 per center to decrease as Xpress Centers have more wei
Slide 14: Key Highlights: COR, G&A, S&M
Financial Performance 180 1.1 1.2 160 1.0 168 1.0 146 140 120 0.8 Key Highlights: 100 0.6 80 COR & COR/Center 60 0.4 COR per center increased by 7% and the overall cost of revenue increased by 15% which was due to the additional 40 0.2 (under ramp up) 10 centers compared to Q1 2022, 20 refurbishment
Slide 15: Key Highlights: Cash Flow and Deferred Revenue
Financial Performance Key Highlights: 450 0.9 x 0.8 x 0.8 x Cash Flow from Operations: 400 0.8 x Increased by 20% compared with Q1 2022 due to higher 385 subscription sales. 350 0.7 x 300 0.6 x 250 276 0.5 x Deferred Revenue: Increased by 39% as result of the increase in subscriptions sales 200 0.4
Slide 16: Outlook 2023
Slide 17: Outlook: expected centers and capex
Outlook 2023 growth will be driven by: • Further openings of Xpress Centers • Further openings of Big Box centers • Continuing focus/growth on Corporate & PT business • Cost control, and improving customer experience, member retention & services. Current Expected Centers Expected Centers Expected CA
Slide 18: Investor Relations contact
For enquires, please contact the Investor Relations Department at: investor.relations@leejam.com.sa
Slide 19: Appendix
Slide 20: Key Highlights: Statement of Profit & Loss
Appendix Key Highlights: Statement of Profit & Loss The increase in net profit for the first quarter 2023 compared to the same SR M Q1 2023 Q1 2022 ∆ ∆% quarter of the last year was due to the following: Revenue 277.0 231.6 45.4 19.58% Cost of revenue 168.3 145.9 22.4 15.33% • An increase in revenue
Slide 21: Q1 2023 Segment Analysis and Source Analysis
Appendix Q1 2023 6, 2% Segment Analysis • Male revenue increased by 19% compared with Q1 2022. • Female revenue increased by 30% compared with Q1 31, 11% 2022. 69, 25% Source Analysis • Subscriptions and Membership revenue increased by 19% compared with Q1 2022. • Personal Trainer revenue increased