Armah swings to SAR 9.2M profit in H1 2024

Armah swings to SAR 9.2M profit in H1 2024

06/08/2024 Argaam Exclusive

View other reports

Armah Sports Co. reported a net profit of SAR 9.2 million in H1 2024, versus a net loss of SAR 6.1 million a year earlier.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 26.07 73.64 182.5 %
Gross Income 5.75 33.69 485.7 %
Operating Income (3.17) 20.56 747.8 %
Net Income (6.14) 9.15 248.9 %
Average Shares 28.75 32.86 14.3 %
EPS (Riyals) (0.21) 0.28 230.3 %

The profit increase was driven by a 182% increase in revenue to SAR 73.6 million.

 

Membership revenue jumped 179% year-on-year (YoY) on the opening of four new fitness clubs.Revenue from personal training surged 200% YoY.

 

Meanwhile, operating cost of revenues climbed 97% YoY and financing costs increased due to higher interest rates YoY.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 26.07 73.64 182.5 %
Gross Income 5.75 33.69 485.7 %
Operating Income (3.17) 20.56 747.8 %
Net Income (6.14) 9.15 248.9 %
Average Shares 28.75 32.86 14.3 %
EPS (Riyals) (0.21) 0.28 230.3 %

Total shareholders’ equity, no minority interest, rose to SAR 387.1 million as of June 30, 2024, compared to SAR 249 million a year ago.

 

Accumulated losses reached SAR 45.3 million by the end of H1 2024, accounting for 13.8% of the company’s capital.

 

Historical Data                                                                 

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2022

4.25

(3.10)

(0.11)

H2 2022

8.94

(22.14)

(0.77)

H1 2023

26.07

(6.14)

(0.21)

H2 2023

54.04

6.9

0.21

H1 2024

         73.6

                 9.2

                0.28


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 - - - - - -
H2 2021 - - - - - -
H1 2022 4.25 - (1.23) - (7.82) -
H2 2022 8.94 - (0.64) - (17.09) -
H1 2023 26.07 513.5 % 5.75 567.6 % (3.17) 59.4 %
H2 2023 54.04 504.3 % 24.90 4015.6 % 13.64 179.8 %
H1 2024 73.64 182.5 % 33.69 485.7 % 20.56 747.8 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 - - - - - -
H2 2021 - - - - - -
H1 2022 (3.10) - (0.11) - (3.10) (0.11)
H2 2022 (22.14) - (0.77) (3.75) (18.39) (0.64)
H1 2023 (6.14) (98.1 %) (0.21) - (6.14) (0.21)
H2 2023 6.90 131.2 % 0.21 - 6.90 0.21
H1 2024 9.15 248.9 % 0.28 - 9.15 0.28

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 (14.14 %) (101.49 %) (162.90 %)
H1 2023 14.61 % (7.30 %) (70.06 %)
H2 2023 38.26 % 39.21 % 0.95 %
H1 2024 45.89 % 48.84 % 12.57 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 - - - -
H2 2021 - - - -
H1 2022 28.75 - - 8.87
H2 2022 28.75 (0.88) (0.75) 8.58
H1 2023 28.75 (0.98) (0.85) 8.66
H2 2023 32.86 0.02 0.02 11.50
H1 2024 32.86 0.49 0.49 11.78

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 - - -
H1 2023 - - -
H2 2023 More than 100 More than 100 4.26
H1 2024 More than 100 More than 100 4.85

Business Segments (Million)

Compared With The
Period Female Fitness Centres Male Fitness Centers
Q2 2022 4.23 0.02
Q4 2022 8.71 0.23
Q2 2023 13.42 12.65
Q4 2023 23.15 30.89
Q2 2024 31.83 41.82


Financial Ratios
Current
Market Cap (M Riyal) 2,793.10
Enterprise Value (EV) (M) 3,007.96
Shares Outstanding ((M)) 32.86
Book Value (BV) ( Riyal) 11.50
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
Price/book 7.39
more

Share Price

Armah Sports Co.
85.00
0.00 0.00 %

Armah Sports Co. (ARMAH)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.