The Gym Group (GYM)

Sector:

Tourism and Leisure Services

Index:

FTSE Small Cap

201.00p
   
  • Change Today:
      1.60p
  • 52 Week High: 306.00
  • 52 Week Low: 181.40
  • Currency: UK Pounds
  • Shares Issued: 177.92m
  • Volume: 6,191
  • Market Cap: £357.63m
  • RiskGrade: 80

The Gym Group reports strong post-lockdown rebound

By Josh White

Date: Wednesday 16 Mar 2022

LONDON (ShareCast) - (Sharecast News) - The Gym Group reported a 31.7% improvement in revenue in its full-year results on Wednesday, after a well in membership numbers following the reopening of its sites in April.
It said group adjusted EBITDA rocketed 110.7% year-on-year for the 12 months ended 31 December to £35.4m, and excluding normalised rent, it swung to adjusted EBITDA of £5.7m from a loss of £10.2m in 2020.

The London-listed budget gym operator said its adjusted loss for the year narrowed to £28.5m from £35.4m, while its statutory loss improved 2.7% to £35.4m.

Basic and diluted adjusted losses per share came in at 16.7p, compared to 22.5p in 2020, and the company's basic and diluted statutory losses slimmed to 20.7p from 23.1p per share.

Non-property net debt, meanwhile, shrunk to £44.1m at year-end, from £47.3m a year earlier.

Operationally, the Gym Group reported a "significant increase" in membership numbers after its locations emerged from lockdown in April, with total members at 31 December totalling 718,000 - up from 547,000 at the end of February 2021 and 578,000 at the end of 2020.

It reported a strengthening in its yields, with the average price of a standard 'DO IT' membership tier rising to £19.27 per month by December from £18.81 at the end of the prior year, and the penetration of the premium 'LIVE IT' tier improving to 27.1% from 22.5%.

The firm said it was cash flow positive in all months when gyms were open, adding that an "accelerated" rollout was underway as it opened 19 sites in the year - 15 of which were in the second half.

Looking ahead, the Gym Group recorded an "encouraging start" to 2022, with membership growing 14.9% in the first two months despite the impact of Omicron on early January trading.

The company reported 825,000 members as at 28 February - up 50% since the same period in 2021.

It said it was planning to open 28 sites in 2022 with 20 leases already exchanged, while its rollout target was increased to between 25 and 30 openings for 2023 and 2024.

"The Gym Group has had an encouraging start to the year, building on the momentum of our excellent recovery in 2021," said chief executive officer Richard Darwin.

"We are confident that our high margin, low-cost business model and our yield optimisation strategy will help to mitigate the impacts of the current inflationary environment.

"Our pace of change is accelerating through the launch of a new technology platform and a brand transformation in 2022 as we position our business to take advantage of the many growth opportunities within the low cost gym market."

At 0921 GMT, shares in the Gym Group were down 3.69% at 198.4p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

The Gym Group Market Data

Currency UK Pounds
Share Price 201.00p
Change Today 1.60p
% Change 0.80 %
52 Week High 306.00
52 Week Low 181.40
Volume 6,191
Shares Issued 177.92m
Market Cap £357.63m
RiskGrade 80

The Gym Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
91.07% below the market average91.07% below the market average91.07% below the market average91.07% below the market average91.07% below the market average
96.55% below the sector average96.55% below the sector average96.55% below the sector average96.55% below the sector average96.55% below the sector average
Price Trend
15.71% below the market average15.71% below the market average15.71% below the market average15.71% below the market average15.71% below the market average
8.82% above the sector average8.82% above the sector average8.82% above the sector average8.82% above the sector average8.82% above the sector average
Income
91.27% below the market average91.27% below the market average91.27% below the market average91.27% below the market average91.27% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
14.32% below the market average14.32% below the market average14.32% below the market average14.32% below the market average14.32% below the market average
38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

The Gym Group Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Sep-19 23-May-19
Paid 11-Oct-19 14-Jun-19
Amount 0.45p 0.95p

Trades for 28-Jun-2022

Time Volume / Share Price
11:29 1 @ 201.00p
11:29 165 @ 201.00p
11:10 135 @ 200.50p
11:10 460 @ 200.50p
11:10 182 @ 200.50p

The Gym Group Key Personnel

Chair Penny Hughes
CEO Richard Darwin
CFO Mark George

Top of Page