Stable financial results in the strategic area of Benefit Systems operations in Poland and abroad

•    In the first quarter of this year the Capital Group's revenues amounted to PLN 357.7 million.
•    The Benefit Systems Group’s operating profit amounted to PLN 31.9 million, which means 12% increase year on year (including the positive impact of IFRS 16), and the net profit attributable to shareholders of the parent company amounted to PLN 16.2 million.

In the first quarter of this year the Group's revenues increased by 27% year on year to PLN 357.7 million. Revenues from the Foreign segment (also reported jointly for the area of ​​sports cards and fitness) in this period amounted to PLN 72.0 million. Benefit Systems Group’s operating profit amounted to PLN 31.9 million, which means an increase of 12% year on year. EBIT cleared from the impact of IFRS 16 amounted to PLN 25.2 million, which means a decrease of 12% year on year. The Benefit Systems Group reported PLN 16.2 million net profit attributable to shareholders of the parent company.


– We are pleased that we have managed to maintain the growth rate in our main area of ​​activity, which is developing in line with the company's expectations both in Poland and abroad. The MultiSport programme is an attractive benefit both for employers and employees. The active and healthy lifestyle trend, good economic situation and the employee market in Poland are conducive to this trend’s development – explains Izabela Walczewska-Schneyder, Management Board Member at Benefit Systems.


In the first quarter of this year the number of sports cards in Poland increased by 13% compared to the first quarter of 2018, while on foreign markets (Czech Republic, Slovakia, Bulgaria and Croatia) – by 64%. In addition, in recent days the youngest foreign company, GK Benefit Systems, has started selling sports cards in Greece. At the end of this period, the Benefit Systems Group was managing companies operating a total of 150 own clubs throughout the country and 21 clubs on foreign markets. These facilities significantly affect the stable development of the offer of sports cards and their attractiveness to users.


– Starting this year, we publish the total result for sports cards and fitness, as these are complementary activities. Fitness clubs, providing adequate infrastructure for a growing group of sports card users, are an important element of the MultiSport programme offer. Thanks to the completed acquisition we now have clubs in good locations, most attractive ones from the point of view of sports card users – says Izabela Walczewska-Schneyder.


In the first quarter of this year the Cafeteria segment (MultiKafeteria and MyBenefit platforms) increased the number of users by 28% year on year (to the level of almost 390,000) and the turnover by 20% (PLN 74.3 million). The company invests in the technological development of this area because it is an important sales channel for the company's flagship product and valuable support for many clients in the area of ​​distribution of non-wage benefits.


– In recent years, the company has carried out an extensive investment programme aimed at long-term support and stabilisation of the flagship product. We are convinced that the MultiSport programme offer is becoming more and more attractive for users and their employers. Currently, after closing several large transactions in 2018, we focus on integration and reorganisation – adds Izabela Walczewska-Schneyder.
 

The quarterly report of the Benefit Systems Capital Group for the first quarter of 2019 is available at www.benefitsystems.pl.