Benefit Systems presents its results for the third quarter of this year: further development of the offer, growing profits and ambitious plans for the following periods.

27 listopada 2024

In the third quarter of this year the group’s revenues amounted to PLN 835.9 million (an increase of 20% YoY), and operating profit amounted to PLN 199.0 million (without the impact of the incentive programme; an increase of 15% YoY). Growing profits reflect the very good situation of sports cards and fitness clubs, especially on the Polish market. At the beginning of November, the group obtained five-year financing in the amount of PLN 300 million from Santander Bank Polska, which it plans to use to intensively strengthen its offer in all markets in which it operates.

In the third quarter of this year the sales revenues of the Benefit Systems Group amounted to nearly PLN 836 million and were 20% higher than in the same period in 2023. The group recorded PLN 199.0 million of operating profit (excluding the costs of the incentive programme) and PLN 134.0 million of net profit attributable to shareholders of the parent company (compared to PLN 115.4 million of net profit a year earlier).

Poland Segment: Sales revenues of the Poland Segment in the third quarter amounted to PLN 612.1 million, which means an increase of 23% YoY. The number of cards in this period in Poland reached 1,507,200, which means an increase by 82,000 since the beginning of the year. User activity remains at a similarly high level as in the same period in 2023. The offer of Benefit Systems own fitness clubs – 230 facilities at the end of September 2024 – is currently used by over 260,000 people (B2C model).

Foreign Countries Segment: The group continues to develop the MultiSport Programme offer by acquiring local fitness networks that are particularly popular among sports card holders. At the end of the quarter, the group managed 60 facilities, including the acquired Flais network in Bulgaria and Factory Pro in the Czech Republic. The revenues of the Foreign Countries Segment amounted to PLN 223.9 million (an increase of 14% YoY), the quarterly operating profit of the segment amounted to PLN 31.7 million (PLN 50.5 million in the corresponding period in 2023). At the end of September this year there was a total of 505,900 active cards.

In the fourth quarter of this year, the group notes a significant improvement in the sales dynamics of MultiSport cards on foreign markets, as well as continued high interest in sports cards in Poland. According to information provided by the group, the number of cards in Poland has increased by nearly 150,000 since the beginning of the year.

Financial report for Q3 2024: https://corp.benefitsystems.pl/en/for-investors/article/consolidated-quarterly-report-for-3q-2024/

Presentation of results: https://corp.benefitsystems.pl/fileadmin/benefitsystems/relacje_inwestorskie/Prezentacje/3Q_2024.pdf

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 manages over 60 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.