An active start to the year in the Benefit Systems Group: record investments in the company’s own fitness club base, intensive development of the offer and double-digit revenue growth
Benefit Systems Group continues – in line with its adopted strategy – its dynamic development in all markets where it offers the MultiSport Programme. The group continues to benefit from positive trends in active lifestyles and wellbeing. The group ended the first quarter of this year with a 19% increase in revenues year-on-year (PLN 952.0 million), adjusted by PLN 22.0 million of the costs of valuation of the Incentive Programme and PLN 26.5 million of the costs of acquiring the MAC Group, with an operating profit of PLN 149.0 million (an increase of 14% year-on-year) and a net profit of PLN 54.8 million. In May, the group completed the acquisition of MAC Group and became the owner of 127 fitness clubs in Turkey.
– The group achieved very good financial results, recording double-digit growth in both revenue and adjusted operating profit. The favourable market environment deserves special emphasis – the growing interest in physical activity and broadly understood wellbeing supports the further development of our offer. We maintain ambitious goals for the current year, consistently implementing our plans and strengthening the group’s position in all markets where we operate – says Marcin Fojudzki, Management Board Member at Benefit Systems, and adds: – The beginning of the year was extremely intense but also satisfying for us. We successfully completed the issue of PLN 1 billion of bonds, concluded a long-term financing agreement for PLN 1.8 billion, and issued 280,000 H-shares worth PLN 740 million. These actions secure both our current and future investment needs.
In the first quarter of this year, the Benefit Systems Group’s sales revenue amounted to PLN 952.0 million and was 19% higher than in the same period in 2024. The results were influenced by an increase in the volume of sports cards and passes by several percent year-on-year and a change in the average ARPU by a low few percent year-on-year. The group recorded PLN 149.0 million of operating profit (an increase of 14% year-on-year), adjusted by PLN 22.0 million of costs related to the valuation of the Incentive Programme and PLN 26.5 million of costs related to the acquisition of the MAC Group. Net profit attributable to shareholders of the dominant entity amounted to PLN 54.8 million. The group ended the quarter with a net cash position of PLN 108 million.
Poland Segment
The Poland Segment recorded a 17% year-on-year increase in revenue, reaching PLN 681.9 million in the first quarter, while operating profit amounted to PLN 143.5 million, which means a change of as much as 40% year-on-year.
The number of cards in Poland increased by 11% to 1,675,900, while the number of B2C passes amounted to 287,600. (11% increase year-on-year). The company’s own fitness clubs (248 facilities at the end of 1Q25) recorded a 23% increase in operating profit.
In connection with the acquisition of the MAC Group, the company decided to divide the Foreign Countries Segment into the Turkey Segment and the EU Segment (Czech Republic, Slovakia, Bulgaria and Croatia).
EU Segment
The EU Segment, which includes the group’s operations on four markets (Czech Republic, Slovakia, Croatia and Bulgaria), increased its revenues by 21% year-on-year (PLN 263.1 million), and the operating profit amounted to PLN 19.4 million. At the end of March this year, the group had 86 its own fitness clubs, including four new facilities that joined the offer in the first quarter of this year (organic growth: 1 club in the Czech Republic and 2 clubs in Bulgaria, as well as the acquisition of 1 facility in the Czech Republic), the number of cards amounted to 591,100 and was 23% higher than a year earlier (480,600).
Turkey Segment
In the first quarter of this year, sales revenues amounted to PLN 8.3 million and were significantly higher than those recorded for the same period in 2024 (PLN 1.4 million). In the first quarter, 22,000 people used MultiSport cards, which gave them access to over 2,500 partner facilities.
In May this year, Benefit Systems completed the acquisition of the MAC Group. The total value of the acquired business was approximately USD 391.6 million (including the acquired cash). The group intends to start consolidating the results of the MAC Group from around mid-second quarter of 2025.
At the end of March this year, the network had 127 fitness clubs used by 316,000 members. In the first quarter of 2025, unconsolidated revenues amounted to USD 37.2 million and were 65% higher compared to the same period in 2024.
Detailed information on the financial results of Benefit Systems S.A. for the first quarter of 2025 can be found at: https://corp.benefitsystems.pl/en/for-investors/reports/.
Jolanta Jędrysek
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 Multi.Life 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 Fabryka Formy, FitFabric, Fitness Academy, Good Luck, My Fitness Place, Saturn Fitness, StepONE, Total Fitness and Zdrofit networks). 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.
