| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 224.9 | 177.5 | 26.7 | ||
| Gross Profit (Loss) | 111 | 83.9 | 32.3 | ||
| Operational Profit (Loss) | 81.1 | 54.8 | 47.99 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 62 | 38.3 | 61.88 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 81.8 | 100.4 | -18.52 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 552.6 | 470.7 | 17.4 | ||
| Profit (Loss) per Share | 1.89 | 1.16 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Armah Sports Company (the “Company” or “Armah”) delivered strong financial performance in fiscal year 2025, achieving continued revenue growth, with total revenue reaching SAR 224.9 million. This represents a 27% increase driven by: • Subscription and Membership Revenue growth of 24%, reflecting continued expansion in the average member base and club maturity. • Personal Training Revenue growth of 51%, supported by strong demand for high-quality training services. • Growth in ancillary revenue streams from fitness centers. Deferred revenue increased to SAR 62.6 million, reflecting strong membership renewals and sustained demand momentum, enhancing revenue visibility for future periods. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Operating profit increased by 48% to SAR 81.1 million, demonstrating strong operating leverage as revenue growth outpaced cost increases. Net Profit attributable to shareholder reached SAR 62.0 million, representing a 62% increase compared to the prior year. The improvement was primarily driven by revenue growth and effective cost management. During the year: • Cost of revenue increased by 22%, consistent with higher activity levels. • Operating expenses increased by 46%, reflecting strategic investments in automation, and key senior hires to support future expansion. • Interest expenses reflected financing and lease liabilities associated with the Company’s expansion activities. Non-recurring items during the year included: • A SAR 9.5 million gain arising from a sublease transaction. • SR 0.8 million gain arising from rent waiver on lease. • SAR 1.5 million expenses related to preparation for transitioning to the Main Market. Excluding non-recurring items, Adjusted Net Income attributable to shareholders reached SAR 53.2 million, and Adjusted EBITDA reached SAR 115.0 million, in line with the reconciliation disclosed in the audited financial statements. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | The comparative financial statements have been restated and reclassified, where applicable, to align with the accounting policies adopted for the current year. The Company early adopted IFRS 18 (Presentation and Disclosure in Financial Statements) effective January 1, 2025, with comparative figures re-presented accordingly. These financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as endorsed in the Kingdom of Saudi Arabia by the Saudi Organization for Chartered and Professional Accountants (SOCPA). |
| Additional Information | Armah continues to enhance shareholder value through disciplined expansion, operational efficiency, and strategic investments in automation and governance. The Company remains focused on sustainable growth, strengthening its revenue base, and maintaining a solid financial position to support future expansion. Basic and diluted earnings per share are calculated by dividing the net profit attributable to the shareholders of the company for the year ended 31 December 2025, with the weighted average number of shares outstanding during the year 32,859,166 shares. |
