The Benefit Systems Group maintained the rate of growth of its revenues and recorded an improvement of results in all operating segments.
The number of sports cards at the end of September 2015 reached 563,000, which is an increase by 74,000 compared to the end of September 2014 (+15.2% y/y). Revenues in the segment of sports cards increased to PLN 372.5 million (+16.8% y/y). Sports cards issued by Benefit Systems provide users with an unlimited access to nearly 4,000 sports facilities throughout Poland, including swimming pools, gyms, fitness clubs, squash courts, etc.
After the three quarters of 2015 the sales revenues in the fitness segment reached PLN 26.6 million, which was related to an expansion of the network of fitness clubs by eighteen (18) facilities in comparison to Q3 of the previous year, including seven (7) new facilities in the Fitness Academy and Fabryka Formy companies. At the end of Q3 2015 companies from the fitness segment operated 59 fitness clubs throughout Poland.
In the period in question the cafeteria segment (formerly new products) doubled the sales to PLN 21.6 million. MyBenefit and MultiKafeteria cafeteria platforms recorded nearly PLN 100 million turnover in the period in question (an increase from PLN 53.8 million in the previous year). Both platforms were used by nearly 168,000 users in this period. Within the framework of the cafeteria segment the Company intends to focus on the further development of MyBenefit and strengthening its offer in strategic categories, including the rapidly growing tourism category.
In the segment of foreign countries, the Company reached more than 20,000 cards on the Czech market and began to acquire customers on the Slovakian and Bulgarian markets.
In total, after three quarters the sales growth amounted to 25.3% and reached PLN 416.9 million. In addition to the increase in the number of sports cards, the value of consolidated sales revenues after the first three quarters has also been affected by including fitness companies (Fitness Academy, Fabryka Formy), MyBenefit, and foreign companies with the acquisition accounting method.
After the three quarters of 2015 the EBITDA of the Group reached PLN 52.5 million and increased by 27.6% compared to the corresponding period of the previous year. Gross profit amounted to PLN 46.9 million – one-time events have been included in the result (PLN 4.7 million profit on the contribution of the companies in the fitness and foreign countries segments to the Group). Reported net profit, taking into account the abovementioned one-time events, amounted to PLN 36.7 million (+25.3% y/y).
|Summary of the financial results of the Benefit Systems Group|
|in PLN million||Three quarters of 2015||Three quarters of 2014||Change|
|Gross profit on sales||101,8||75,9||+34,1%|
|Gross profitability on sales||24,4%||22,8%||+1,6p.p.|
* attributable to shareholders of the parent company