Successful Q1 of the Benefit Systems Group
Warsaw, 14 May 2014
In Q1 2014 the revenues of the Benefit Group Systems amounted to PLN 108.6 million and were 21% higher than in the corresponding period of 2013. Gross profit amounted to PLN 3.4 million. Good results are a consequence of, among others, an increase in the number of users of sports programs, introduction of new products, and favourable market trends.
The group records a steady increase in revenues and profit at stable costs. Gross profit on sales increased by 22% compared to the first quarter of 2013 and reached the level of PLN 14 million. At the same time, the general administrative costs – despite a significant development of the product portfolio – maintain at a stable level of 5.5%. After the exclusion of the costs of the incentive programme, they decreased in comparison to the previous quarter by PLN 2.5 million.
Growing profitability of the sports cards segment
In Q1 2014 the sports cards segment reached a 1.3 p.p higher gross profitability on sales than in the corresponding period of 2013. The number of cards increased by 61,000. The total amount at the end of April amounted to 498,000 pcs. What is more, the dynamics of sales is also increasing. In the first four months of 2014 the number of sports cards net increased by 45,000 compared to 37,000 in the same period of 2013.
We are extremely satisfied with the dynamics of sales of the sports cards. More and more Poles are physically active and more and more employers see the power of fringe benefits. This is the best forecast for our main market, comments Tomasz Józefacki, President of Benefit Systems. We are consistently investing in new products, in particular in the MultiBenefit incentive program. Customers and users are looking for flexible and intuitive solutions, and our programme corresponds to these needs, he adds.
Going beyond the sports card segment and new product development
The Group regularly expands its product portfolio. New products have been well received by the market. Revenues in this segment increased by 173% year on year.
The highest revenue growth in relation to the sales value compared with the corresponding period in 2013 occurred in the case of the MultiBenefit incentive programme. The quarterly turnover on the platform exceeded PLN 1.4 million, and the number of customers increased seven times year on year.
More information:
Rafał Janik – Investor Relations
tel. +48 22 24 24 090
e-mail: r.janik@benefitsystems.pl
Michał Skierski - Spokesperson
tel. +48 22 24 24 064
e-mail: m.skierski@benefitsystems.pl
About us:
Benefit Systems is the leader of the Group which is composed of entities operating on the non-wage employee benefits and fitness markets. The Group specialises in creating and offering innovative and comprehensive solutions for the efficient and flexible motivation of employees. The offer of the Group includes products in the field of sports and recreation (MultiSport, FitProfit), culture and entertainment (MultiBilet, MultiTeatr), nutrition (BenefitLunch), tourism (MultiWypoczynek), as well as custom-made cafeteria programs (MultiKafeteria, MyBenefit), and also the MultiBenefit incentive program. The company is listed on the main trading floor of the Warsaw Stock Exchange since April 2011.
The group of clients of Benefit Systems includes currently about 6,000 companies and institutions. The sports products themselves are already used by approximately 480,000 users, with nearly 4,000 sports and recreation facilities in 650 Polish towns and cities at their disposal.