Benefit Systems rebuilds the sports card base and invests in the technological development of its key products
In the first half of this year Benefit Systems continued activities that aimed at rebuilding sports cards in all markets, developing the online product offer and strengthening the technological base. In August the MultiSport Programme offer was used by 672,000 card holders in Poland and 267,000 on foreign markets.
- Our priority is to rebuild the MultiSport card base in Poland and on foreign markets. We also focus on further technological development and digitisation of our non-financial benefits offer – explains Bartosz Józefiak, Management Board Member at Benefit Systems. – The pandemic significantly affected the non-financial benefits market, including the needs of employers and employees. Effective support for a healthy and active lifestyle as well as psychophysical condition, the possibility of personalising services and accessing them online have become even more important for them. We want to take advantage of these trends and offer the best solutions that meet the current expectations of our customers. That is why in June this year we purchased the YesIndeed company, which offers, among others, gamification systems. In addition, we expand the MultiLife product offer, develop Yes2move.com platform, and increase the number of facilities and services under Zdrofit Zdrowe Miejsce so that our customers can benefit from an extensive and modern package of benefits supporting a healthy lifestyle – adds Bartosz Józefiak.
The Benefit Systems Group’s results in the second quarter of this year were still negatively affected by the pandemic although this impact was significantly limited thanks to the reopening of sports and recreational facilities in Poland and abroad as well as the adaptation of the product offer to changing market conditions. In the second quarter consolidated sales revenues increased by 12% to the level of PLN 180.6 million. The Group recorded an improvement in operating results which amounted to PLN 1.3 million (compared to PLN 33.9 million loss in the previous year) and PLN 10.3 million of net profit attributable to the shareholders of the parent company (compared to PLN 40.8 million loss in the previous year). In the entire first half of 2021, Benefit Systems generated PLN 279.1 million in sales revenues (a decrease by 49% year on year), which translated into an operating loss of PLN 48.1 million (compared to PLN 9.1 million in profit in the previous year) and the net loss attributable to the shareholders of the parent company in the amount of PLN 38.6 million (compared to PLN 38.8 million loss for the first half of 2020).
The reopening of sports facilities in Poland took place on 28 May 2021. As a result, in the second quarter of this year the Poland Segment recorded revenues of PLN 117.4 million (81% more than in the corresponding period in 2020), while the number of cards in June was 10% higher year on year (548,000 at the end of the second quarter of 2021). Currently, there are approximately 4,200 sport facilities operating in the partner network and in the discussed period 240 new facilities were added and four new sports activities were introduced to the MultiSport offer. In the summer holiday season, the company notes higher user activity compared to the corresponding period before the pandemic. The company also successfully conducted this year’s edition of the Summer Game, encouraging sports card users to undertake various physical activities and discover new disciplines during the holidays.
At the end of June, there were 250,000 active cards on foreign markets. Sports facilities in Bulgaria and Croatia operated throughout the second quarter of this year. In Slovakia and the Czech Republic the restrictions were modified until the end of May. In the second quarter of this year revenues of the Foreign Segment amounted to PLN 54.8 million, and the operating profit was PLN 4.7 million. In the discussed period, two clubs were closed in the Czech Republic (currently 13 facilities), while the number of ownership clubs in other markets did not change and amounts to nine clubs in Bulgaria and one in Slovakia. In addition, preparations are underway to enter the Turkish market. They consist in the registration of the company and recruitment of key managers.
In the Cafeteria Segment, the company continues the technological development of the platform and its product offer. In the second quarter of this year the number of users was 497,700, and the turnover was PLN 90.6 million (an increase by as much as 43% year on year). Revenues amounted to PLN 9.8 million and were higher by 43% compared to the same period in 2020.
Detailed information on Benefit Systems’ financial results for the first half of 2021 can be found at: https://www.benefitsystems.pl/dla-inwestora/artykul/grupa-kapitalowa-benefit-systems-srodroczne-skonsolidowane-sprawozdanie-finansowe-2021-roku/
