In the second quarter of this year, the group’s revenue amounted to PLN 845 million (an increase of 21% year-on-year), and operating profit adjusted for the costs of the incentive programme amounted to PLN 202 million (an increase of 38% year-on-year). Thus, the group achieved the best quarterly result in its history. Dynamically growing profits confirm the very good situation of the entire group. As far as the sale of sports cards is concerned, the group has been observing a return to the seasonality typical of the pre-pandemic period for several months now. However, this change does not affect Benefit Systems’ plans for 2024. The company maintains its goals related to the sale of up to 150,000 sports cards in Poland, a slight improvement in EBIT profitability in the Poland Segment in the second half of this year, as well as an increase in the group’s operating profitability year-on-year.
– Since last year, we have been observing a slow return to the seasonality typical of the pre-pandemic period and the sales dynamics characteristic of 2017-2019. At the same time, the demand for physical activity is not weakening, which is visible not only in the use of sports cards, but also in the growing traffic in our fitness clubs – says Emilia Rogalewicz, Management Board Member at Benefit Systems, and adds: – In the second quarter, despite a less intensive season, we achieved a record operating profit of over PLN 200 million, which means an improvement of as much as 38% year-on-year. The group’s financial condition is at a very good level, which allows us to continue the investments planned for this year both in Poland and abroad. This year we acquired the Active Point club in Tychy (Q1), four Good Luck Club facilities in the Tri-City agglomeration (Q2), as well as Artis club in Warsaw and Gym World facility in Poznań (Q3). We are analysing the market and do not rule out further club takeovers by the end of the year. At the same time, we are increasing the potential of the MultiSport offer on other markets, expanding the portfolio of our own clubs, including 15 operating Flais clubs and three more facilities under construction in Bulgaria.
In the second quarter of this year, the sales revenue of the Benefit Systems Group amounted to PLN 844.8 million and was 21% higher than in the same period in 2023. The group recorded PLN 202 million of operating profit adjusted for the cost of the incentive programme and PLN 108.9 million of net profit attributable to shareholders of the parent entity.
In the first half of the year, revenues reached PLN 1,645.9 million (+24% y/y), while operating profit adjusted for the cost of the incentive programme and net profit amounted to PLN 333 million (+56% y/y) and PLN 201 million (+11% y/y), respectively. The group ends the quarter with a net cash position of PLN 469 million.
At the end of September and November this year, Benefit Systems will pay a dividend of nearly PLN 400 million (PLN 135 per share).
Poland Segment
In the second quarter, sales revenues of the Poland Segment amounted to PLN 616.4 million, which means an increase of 24% year-on-year (in the first half of the year: PLN 1,198.2 million, a change of 29% y/y). The number of cards in this period in Poland reached 1,497,700, which means an increase of 13% year-on-year. Currently, the MultiSport Programme offers over 45 different sports activities in more than 5,400 partner facilities. In the second quarter of this year, the group’s own fitness networks increased revenue by over one third and recorded a 25% increase in the number of passes year-on-year (this result includes newly acquired clubs).
– We continue to develop our fitness club network, which shows that this business can be built on sound foundations – new and acquired fitness clubs contribute to the improvement of the result of the Poland Segment. We are planning further investments in sports infrastructure, both organically and through acquisitions. This is important due to the long-term development of the MultiSport Programme, including securing its market advantages, as well as the continuing high demand for sports and recreation services in our country – explains Marcin Fojudzki, Management Board Member at Benefit Systems.
Foreign Countries Segment
The revenues of the Foreign Countries Segment amounted to PLN 228.4 million in the second quarter (an increase of 14% year-on-year) and PLN 447.8 million in the first half of the year (a change of 15% year-on-year). The segment’s quarterly operating profit amounted to PLN 38.0 million, and the half-year operating profit was PLN 63.3 million. At the end of June this year, a total of 495,600 MultiSport cards were active, and a total of 5,300 partner facilities were available to programme participants in all markets. – Since the beginning of the year, we have increased the number of our own sports facilities abroad by 28 facilities and we currently manage 59 fitness clubs. By the end of the year, we plan to add another 15 facilities, which will double our network of fitness clubs in 2024 – adds Marcin Fojudzki.
Financial report for the first half of 2024:
benefitsystems.pl/dla-inwestora/raporty
benefitsystems.pl/dla-inwestora/raporty
Presentation of financial results with outlook: benefitsystems.pl/dla-inwestora/daneprezentacje/prezentacje/
Benefit Systems has been operating on the Polish market for over two decades and is one of the leaders in providing non-financial benefits that support employee wellbeing. The company is the creator of the MultiSport Programme, which enables physical activity in sports facilities throughout the country. Its portfolio also includes the MyBenefit cafeteria platform and the MultiLife wellbeing programme. For several years now, the company’s sports offer has been developed on foreign markets, including the Czech Republic, Slovakia, Bulgaria, and Croatia. The Benefit Systems Group also operates fitness clubs (in Poland it is responsible for Zdrofit, Fabryka Formy, FitFabric, Fitness Academy, Good Luck and My Fitness Place networks; in other markets it operates 59 facilities). An important area of Benefit Systems activities is the promotion of an active lifestyle at every stage of life, which is why the company implements initiatives supporting physical activity of children, adults, and seniors, also as part of the MultiSport Foundation. Since 2018, Benefit Systems has been part of the global B Corp initiative, bringing together companies operating and engaging in solving the most important social problems. More information can be found at benefitsystems.pl/en.