Wael Al Merhebi, CEO of Golf equipment Sports activities Firm
expectation Wael Al-Marabi CEO of the corporate Golf equipment for sports activities Proprietor of the Physique Masters golf equipment, the optimistic momentum will proceed throughout the fourth quarter of 2025, supported by a number of operational and advertising and marketing components.
Al-Marabi defined in an interview with Arqaam that, by the top of the third quarter, the corporate has a report stage of deferred revenues, which supplies a clearer imaginative and prescient of income progress and improved operational flows throughout the the rest of the yr.
He acknowledged that each one of those parts improve the corporate’s expectations for continued robust efficiency and optimistic outcomes throughout the fourth quarter on the membership sector stage.
He identified that the lower in Physique Specialists’ revenues throughout the third quarter is as a result of nature of the sector’s exercise, as Physique Specialists continues to strengthen its place within the built-in health options market by way of increasing strategic partnerships and growing its providers.
And the main points of the CEO’s assembly with numbers:
*What are probably the most outstanding components that supported the 14.6% revenue progress throughout the third quarter of 2025, regardless of the distinctive bills related to the itemizing?
We succeeded in attaining robust revenue progress throughout the third quarter of 2025 regardless of the non-recurring bills related to the itemizing course of, as revenues recorded a progress of seven.5% on a quarterly foundation, and this efficiency was pushed by the expansion in revenues from present golf equipment, along with the exceptional efficiency of 5 new golf equipment that opened this yr and achieved outcomes that exceeded expectations, along with the noticeable enchancment within the revenues of one of many golf equipment that was reopened throughout the third quarter after a complete growth course of. Elevated progress was additionally achieved in gross sales of providers (private coaching, physique measurements, vitamin providers…) by 7.5%, which enhanced the corporate’s revenues and operational influence, as gross revenue margins elevated from 32.2% to 36.8%.
These components mixed enabled the corporate to realize web progress Income by 14.6% throughout the third quarter, regardless of the distinctive bills related to the itemizing course of, which displays the power of the enterprise mannequin and the sustainability of the growth technique.
*What number of new members joined the golf equipment by the top of the third quarter? What’s the progress charge within the variety of subscribers (men and women) in comparison with the identical quarter of the earlier yr?
This yr, we achieved a historic quantity within the variety of registered members inside our golf equipment, which displays the rising confidence in our manufacturers and the standard of the expertise offered. The entire variety of members elevated from 129.71 thousand to 167.09 thousand members on the finish of the third quarter, a rise of 37.37 thousand members, representing a progress of 29% on a quarterly foundation.
This robust progress included subscribers of each genders, and is as a result of growth of the membership community, enhancing the operational expertise, elevating the extent of providers and applications, along with operational and advertising and marketing measures that enhanced the attractiveness of the corporate’s manufacturers.
*What’s the direct monetary influence of the opening of the 5 new golf equipment and the reopening of one of many branches after its growth?
The opening of 5 new golf equipment throughout the yr, along with the reopening of one of many branches after its growth, had a direct and clear monetary influence on the corporate’s outcomes. These golf equipment contributed to rising the member base by about 25.6 thousand members, which mirrored positively on working revenues. The monetary efficiency of those golf equipment was additionally larger than expectations, pushed by robust subscription charges and a excessive demand for accompanying providers inside the golf equipment.
This growth, along with elevating the standard of expertise within the renovated department, enhanced revenues and profitability ratios, contributed to enhancing money flows and inspiring extra subscriptions and member retention, which demonstrates the direct optimistic monetary influence of this growth funding.
*What are the explanations for the decline in revenues of the sports activities options sector (Physique Specialists) by 96.7%? Is there a plan to revitalize this sector?
The lower in Physique Specialists’ revenues throughout the third quarter of 2025 in comparison with the identical interval in 2024 is as a result of nature of the sector’s exercise, as Physique Specialists operates as an built-in supplier of 360-degree health options, a sector that depends closely on the provision of initiatives, aggressive contracts, and authorities and personal providing seasons.
Whereas the outcomes of the third quarter of 2024 included a big portion of the revenues ensuing from the implementation of a venture with the Royal Fee for AlUla Governorate, which is without doubt one of the most outstanding public-private partnership initiatives carried out by the corporate, the third quarter of 2025 didn’t witness related initiatives of the identical measurement, which was naturally mirrored within the stage of revenues throughout the interval.
Regardless of this seasonal variation, Physique Specialists continues to strengthen its place within the built-in health options market by increasing strategic partnerships and growing its providers directed to authorities businesses and the non-public sector, in preparation for continued sustainable progress throughout the coming durations.
*Is there a plan to develop the “Physique Masters Premium” model into new cities after the opening of the Dammam department?
– Sure, as for the Physique Masters model, the growth will probably be primarily inside the premium class as a result of rising demand for this class, and our keenness to offer a extra superior coaching expertise and providers with a better worth to members. On the similar time, Physique Motions will proceed its growth, benefiting from the speedy progress within the ladies’s membership sector and excessive subscription charges.
This yr was some of the profitable years by way of community growth, as 16 new websites have been secured, a few of that are below development and others are within the means of acquiring the required licenses, with most of those websites to be opened throughout the yr 2026.
This development displays a deliberate growth technique and enhancing the standard of the expertise, in keeping with the rising demand and market aspirations in varied areas of the Kingdom.
*What are your expectations for the corporate’s efficiency within the fourth quarter?
We count on optimistic momentum to proceed throughout the fourth quarter, supported by a number of operational and advertising and marketing components. A lot of the golf equipment that opened in 2025 started working throughout the second and third quarters, and subsequently their full monetary influence was not mirrored within the outcomes of the third quarter of 2025, and their monetary influence is predicted to regularly enhance within the fourth quarter and past.
As well as, by the top of the third quarter, the corporate has a report stage of deferred revenues, which supplies a clearer view of income progress and improved operational flows throughout the the rest of the yr.
All of those parts reinforce our expectations for continued robust efficiency and optimistic outcomes throughout the fourth quarter on the sports activities membership sector stage, in keeping with the sustainable progress and growth technique.
