Over one million MultiSport card users and doubled profits - Benefit Systems presents the financial results for 1Q 2018

• In the first quarter of 2018, the total number of MultiSport cards in Poland and on foreign markets amounted to 1 077,800.
• Sales revenues of the Benefit Systems Group in the first quarter of 2018 increased by 28.1 percent, to nearly PLN 284.7 million
• The operating profit of the Benefit Group in this period amounted to PLN 28.5 million, which is an increase of 54.8 percent y/o/y.

At the end of March 2018, there were over 916,000 MultiSport card users in Poland. This is an increase of 130,000 cards in comparison with the first quarter of 2017. At the same time, the number of cards abroad has doubled, reaching 162,000 - of which over 91,000 are in the Czech Republic, approx. 59,000 in Bulgaria about 12,000 in Slovakia. The increase in the number of cards was partially the result of effective sales activities, which are supported by the current active lifestyle trend, as well as a social campaign increasing the appeal of the card and allowing users to be active all year round.
Revenues of the Sports Cards segment (card sales in Poland) in the first quarter of 2018 amounted to PLN 203.7 million and were higher by 17.3 percent compared to the first quarter of 2017, while the revenues of the Foreign segment during this period amounted to PLN 42.4 million, which is an increase of 144 percent y/o/y.

As part of activities ensuring access to proper sports infrastructure for the growing number of MultiSport card users, in the first quarter the Benefit Systems Group managed companies operating a total of 85 own clubs. Additionally, the Group had shares in companies managing another 60 facilities and a signed conditional agreement regarding the acquisition of fourteen S4 clubs (this contract was implemented after the end of the quarter - on 4 April 2018). The Fitness segment in the discussed period reached PLN 55.5 million in sales revenues (+ 36.7% y/o/y). The Fitness segment complements the Sports Cards segment - newly opened clubs guarantee more space, which significantly increases the attractiveness of the offer for sports card users.

The Cafeteria segment, i.e. MultiKafeteria and MyBenefit platforms, responsible for the distribution of additional non-payroll benefits in the area of sports, culture and tourism, noted an increase at the end of March in the number of users to nearly 305,000. (+53,000 y/o/y). The turnover of MyBenefit and MultiKafeteria totalled PLN 61 million during this period, an increase of 21 percent y/o/y.

The consolidated quarterly report of the Benefit Systems Capital Group for 1Q2018 is available on the website: benefitsystems.pl.

Summary of the financial results of the Benefit Systems Group

Sales revenues  284 694222 266+28,1%
Gross sales profit 70 56247 661+48,0%
Gross sales margin  24,8%21,4%+3,4p.p.
EBITDA38 60025 658+50,4%
Net profit*
21 70414 093


* Attributed to the shareholders of the parent company

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