Sport Clubs Company (6018) Q4 2024 earnings summary

Executive summary

• Revenue grew 21% year-over-year to SAR 327.4 million, driven by strong performance in subscriptions and health club services.

• Net profit increased 52% to SAR 38.1 million, with EPS rising to SAR 0.37 from SAR 0.24.

• The company completed a share split and approved a 30% IPO, with regulatory approval for listing received post-year-end.

• SAR 6 million in dividends were distributed, and the statutory reserve was transferred to retained earnings.

Financial highlights

• Revenue: SAR 327.4 million (2024) vs. SAR 270.6 million (2023), up 21%.

• Gross profit: SAR 98.5 million (2024) vs. SAR 72.4 million (2023), up 36%.

• Operating profit: SAR 69.2 million (2024) vs. SAR 50.0 million (2023), up 38%.

• Net profit: SAR 38.1 million (2024) vs. SAR 25.1 million (2023), up 52%.

• Total assets: SAR 798.4 million (2024) vs. SAR 757.1 million (2023).

Outlook and guidance

• The company expects continued growth, supported by new branch openings and favorable market conditions.

• IPO proceeds and increased capital are anticipated to fund expansion and strengthen the balance sheet.