In the second quarter of this year the Group’s revenues amounted to nearly PLN 700 million (an increase of 52% YoY) and the operating profit was PLN 143 million (a change of 185% YoY). Dynamically growing profits reflect the excellent situation with regards to sports cards and fitness clubs. The Group maintains its plan for 2023, which assumes the sale of up to 300,000 sports cards, an increase in revenues by 45% YoY and operating profitability at the level of 17-18% (an increase by 6-7% YoY).
– We had a record half-year and the second quarter. After six months, we achieved 92% of last year’s operating result. This shows the rapid growth in the scale and profitability of our business. In addition, we recorded an increase in revenues in all areas of our activity. As far as sports cards are concerned – both in Poland and in other markets – the increase in average revenue per user (ARPU) by more than 10% had the greatest impact on the result. In the second quarter our local fitness clubs also had a very successful quarter and, despite a less intense season, generated an operating profit of PLN 15 million. Our foreign companies, including fitness networks, are also doing very well – says Bartosz Józefiak, Management Board Member at Benefit Systems.
In the second quarter of this year Benefit Systems Group’s sales revenues amounted to PLN 697 million and were 52% higher than in the corresponding period in 2022. The Group recorded PLN 143.2 million of operating profit and PLN 130.1 million of net profit attributable to shareholders of the parent company (compared to PLN 31.6 million of net profit a year earlier). In the first half of the year, revenues reached the level of PLN 1,322.8 million (+54% YoY) and the operating profit and net profit amounted to PLN 208.9 million (an increase of 200%) and PLN 182.5 million (a change of 360% YoY) respectively. The Group ends the quarter with a net cash position of PLN 278 million. At the end of September this year Benefit Systems will pay a dividend of PLN 120.3 million (PLN 41 per share).
– Despite the holidays Poles are invariably interested in physical activity, which confirms our belief that the trends observed after the pandemic are permanent. The third quarter should be as successful as the previous two ones – explains Bartosz Józefiak and adds: – This year, as in the past, we are observing a slight holiday decrease in the number of cards and passes. However, it does not affect our perspective for the entire year.
In the second quarter the sales revenues of the Poland Segment amounted to PLN 496.5 million, which means an increase of 51% YoY (in the first half of the year it was PLN 931.9 million; a change of 50% YoY). In this period the number of cards in Poland reached 1,330,000, which means an increase of 21,000 in the second quarter and 148,000 since the beginning of the year. Despite cost pressure, the Group’s own fitness networks achieved a record level of operating profit (PLN 14.8 million). In July, the company recorded slightly higher user activity compared to the same period in 2022 (mainly in Poland).
Foreign Countries Segment
– Our companies operating on the Czech, Slovak, Croatian, and Bulgarian markets are developing dynamically and improving their profitability at a satisfactory pace. It is worth emphasising that the Foreign Countries Segment is becoming an important component of the entire capital group’s result. Our goals for the coming quarters include, above all, further scaling of operations while maintaining or improving profitability as well as business development in Turkey – adds Bartosz Józefiak.
In the second quarter the revenues of the Foreign Countries Segment amounted to PLN 201.1 million (an increase of 55% YoY) and PLN 391.0 million in the first half of the year (a change of 63% YoY). The quarterly operating profit of the segment amounted to PLN 37.0 million (PLN 6.7 million in the same period in 2022). At the end of June there were 471,000 active cards, which means an increase of 9,000 in the second quarter and 40,000 since the beginning of the year. The Group continues to sell MultiSport cards and develop its partner network (currently over 400 facilities) on the Turkish market.
Wicedyrektor PR Benefit Systems