Prime Highlights:
- Armah Sports Co.’s net profit rises 62% to SR62 million ($16.53 million) in 2025, driven by strong personal training demand and growing memberships.
- Revenue climbs 27% to SR224.9 million, with operating revenue up 48%, showing the company is growing earnings faster than costs.
Key Facts:
- Personal training profit grew 51%, while subscription and membership revenue rose 24% as clubs expanded and matured.
- Deferred revenue reached SR62.6 million, reflecting strong membership renewals and future revenue visibility.
Background:
Armah Sports Co.’s net profit rose 62% to SR62 million ($16.53 million) in 2025 on strong personal training demand and growing memberships.
Revenue went up 27% to SR224.9 million, and operating revenue rose 48% to SR81.1 million, showing the company is earning more while keeping costs under control. Personal training profit grew 51%, while subscription and membership revenue went up 24% as existing clubs matured and new members signed up.
Industry experts say Armah’s performance mirrors a broader expansion in Saudi Arabia’s fitness sector. Ahmed Attallah, manager of FIBO Arabia, said the market has nearly doubled from SR3.4 billion in 2017 to SR7.7 billion in 2024 and is expected to reach SR15.5 billion by 2030. He said that more women joining gyms, changes in regulations, and private-sector investment under Vision 2030 are supporting long-term growth.
Ivan Shapochkin, partner at Oliver Wyman for India, the Middle East, and Africa, pointed out that there is still strong demand for fitness services that is not yet being met. Gym penetration in Saudi Arabia was 7% in 2024, with forecasts pointing above 10% by 2030. “Many physically active adults are not yet gym members, suggesting room for further expansion,” he said.
Armah also reported deferred revenue of SR62.6 million, reflecting strong membership renewals. Costs went up, with expenses tied to revenue rising 22% and operating costs increasing 46% because of investments in automation and new senior staff. The company also recorded one-time items, including a SR9.5 million gain from a sublease and SR0.8 million from a rent waiver.
Excluding one-time items, adjusted net income reached SR53.2 million, with adjusted EBITDA at SR115 million.
The company is continuing its expansion in 2026, with a new B_FIT men’s club in Riyadh’s Irqah district and agreements for clubs in Al Maseef and a SR224 million development deal with Qimam Noshoz.
Experts say the sector is moving from rapid growth to institutional maturity, attracting international brands and private equity, positioning Saudi Arabia as the Middle East’s leading market for fitness investment.
