Benefit Systems has obtained 205 million PLN of long-term financing from the European Bank for Reconstruction and Development and Santander Bank Polska
The funds obtained by Benefit Systems based on a five-year agreement with the banks are to be allocated, among others, to the Capital Group’s organic growth, development of the MultiLife Programme, acquisitions, and environmental investments. The funds may be additionally increased by 35 million PLN. In addition, the company maintains credit limits with Santander Bank Polska in the amount of up to 115 million PLN intended for the financing of current operations.
– We are very pleased that the European Bank for Reconstruction and Development has decided to support our Group’s growth by providing us with financing for new investments. We also thank our long-term partner, Santander Bank Polska, for their trust. For two years, we have faced the challenges of the pandemic. We hope that this stage is behind us. We recorded a very good start to the year and we are improving our results, including successively increasing the customer and user base. We also see the growing importance of a healthy and active lifestyle after the pandemic. This is the moment when we focus on new products, development, and investments. We are convinced that with such excellent partners as the EBRD and Santander and with the provided financing, the development prospects of our Group have even more stable foundations – says Bartosz Józefiak, Management Board Member at Benefit Systems.
The obtained financing will support Benefit Systems in providing employers and employees with attractive and innovative non-financial benefits and creating modern places for exercise within its own fitness networks. The new funds also support the promotion of an active lifestyle among all social groups, including older generations of Poles – for example, through further development of the MultiSport Senior Programme – as well as people with disabilities – by adapting 80% of clubs opened in Poland to the needs of this group of customers. Moreover, Benefit Systems declared that in future non-financial reporting it will consider the “ESG Reporting Guidelines” developed by the EBRD and the Warsaw Stock Exchange.
– ESG issues and striving for sustainable development are part of the Benefit Systems Capital Group’s DNA. Our business model includes a social mission based on promoting physical activity and a healthy lifestyle. It is encouraging that financial institutions want to support this approach to business – adds Bartosz Józefiak.Apart from development purposes, Benefit Systems may use the acquired funds to refinance the existing debt in the form of bank loans as well as the Group’s general corporate purpose. The financing will be secured, among others, on selected assets of the Issuer’s Capital Group.Detailed information on the contract is available at https://www.benefitsystems.pl/dla-inwestora/raporty/ ( 10/2022 and 13/2022 Report).
