Nespresso Professional UK
Nespresso Professional UK
Nespresso Professional UK
Leisure Opportunities
Job search
Job Search
see all jobs
Latest job opportunities
City of London Corporation
£35,663 - £39,805pa + Local Govt Pension + benefits
Epping Forest, London
Everyone Active
Competitive rates of pay
South Oxhey Leisure Centre, Watford
star job
Pendle Leisure Trust
£Competitive + fabulous benefits package
Nelson, Lancashire
Swansea Council
£53,653 – £58,089pa
star job
Redbridge Sports & Leisure
on request
Barkingside, Essex

Gym Group to exploit 'once in a generation opportunity' to accelerate growth

The Gym Group said it will utilise the most favourable property market in its history to rapidly grow its estate
The budget operator plans to open 40 new sites by the end of 2022
The company has opened seven new sites during 2021
Number of memberships had bounced back to 730,000 in June, from 547,000 in February
Job opportunities
Brio Leisure
£35,745pa + excellent benefits
location: Chester and Frodsham, United Kingdom
more jobs

The Gym Group says it intends to exploit "the most favourable property market in its history" and "weakened competition in the sector" to ramp up the growth of its estate in the UK.

Reporting its results for the first half of 2021, the company reported that it's recovering rapidly from the COVID-19 lockdowns, driven by a strong return of members to its clubs.

The Gym Group had 730,000 members at the end of June – a quicker recovery than expected, bouncing back from 547,000 in February 2021.

Group-wide revenues for the six months to 30 June were £29.3m, down from £37.3m the year before. The period to 30 June was depressed by the company only trading for two and a half of the six months.

Despite the accelerating recovery in membership numbers during the period, the company reported pre-tax losses of £28.5m – compared to the £28.6m loss it posted in the first half of 2020.

In its last set of financials unaffected by the pandemic (full-year report for 2019) revealed on 19 March 2020 – just days before the COVID-19 forced clubs to close – the group reported revenues of £153.1m, up from £123.8m in 2018. Adjusted profit before tax for the 12 months to 31 December 2019 was £14.0m, up 36.0 per cent from the 2018 figure of £10.3m.

Presenting the 2021 results, CEO Richard Darwin said the business – which now has 187 clubs – had become cashflow-positive as soon as it was allowed to reopen in April.

This was partly thanks to its efforts to optimise yield, with slight price increases for new joiners across 60 sites, targeted increases for existing members on legacy rates and efforts to increase its Live It premium membership.

Nearly a quarter (24.7 per cent) of members now have a Live It membership – up from 22.5 per cent on 31 December 2020.

Darwin added that the primary focus has been – and will continue to be – on capitalising on the "unique opportunities for growth" created by the pandemic.

He renewed a target of opening 40 new sites by the end of 2022 and listed four factors that are creating these opportunities – a higher than ever demand for health and fitness, weakened competition in the sector, The Gym Group's financial strength and a property market that is "as good as the company had seen in its 12-year history".

Darwin said: "As a business, we feel we have a once in a generation opportunity to expand our estate and drive market share as a result of the change we've seen in the property market and the impact on the rest of the health and fitness sector.

"And we've already made good progress on that – having opened seven new sites in the year to date we're well on course for the 40 that we set out to open by the end of 2022.

"Thanks to our shareholders and banks, we've emerged as the best-capitalised business in the sector with the funding to be able to expand our estate very rapidly."

To see the full results reported by The Gym Group, ​​click here.


Operational and Financial Update for H1 2021 – official statement from The Gym Group

• Strong recovery in membership numbers following re-opening, with total members at 30 June 2021 of 730,000, up from 547,000 at the end of February 2021

• Average headline price of a standard DO IT membership increased to £19.11 in June 2021 (vs £18.81 in December 2020 and £18.55 in June 2020)

• LIVE IT penetration at 30 June 2021 was 24.7% of total members, up from 22.5 per cent at 31 December 2020

• Number of trading days lost in H1 2021 was similar to H1 2020, however, a lower membership base in H1 2021 (due to extended closure periods during 2020 and 2021) resulted in a 21.4% reduction in revenue vs H1 2020

• Strong cost control and Government support during closures, together with strong recovery on re-opening, limited Group Adjusted EBITDA less Normalised Rent loss to £8.1m, in line with H1 2020

• EBITDA and cash flow positive in the months when gyms were fully open (May and June)

Current Trading Update and Outlook

• Equity placing completed 2 July 2021 providing £30.3m (net) of financing for accelerated rollout programme

• In addition to four sites opened in H1, we plan to open 40 new sites in the 18 months to December 2022, of which three have opened so far in July and August

• Total membership at 31 August 2021 was 721,000, a small decline from 30 June 2021 in line with expectations

• Gym visits remain strong at 1.4 visits per member per week since re-opening

• Non-Property Net Debt (including finance leases) at 31 August 2021 was £28.3m with headroom of £73.3m against £100m RCF

Sign up for FREE ezines & magazines
The Gym Group says it intends to exploit "the most favourable property market in its history" and "weakened competition in the sector" to ramp up the growth of its estate in the UK.

More News

1 - 15 of 67,989
21 Jun 2024
Results are in for the latest Good Spa Guide (GSG) consumer survey, with this year's findings categorised into five life stages to better understand different ... More
21 Jun 2024
The 2024 Global Wellness Summit (GWS) is set to make a splash in Scotland from 4-7 November, with the theme “A Watershed Moment for Wellness”. ... More
21 Jun 2024
According to a year-long study, offering financial incentives to people to encourage them to lose weight is effective and could be a low-cost solution to ... More
20 Jun 2024
Xponential Fitness has appointed sales and franchise expert, Mark King, as CEO, to take the company forward following Anthony Geisler’s abrupt exit in May. King ... More
20 Jun 2024
Fitness influencer and karate champion, Anna Lewandowska, has announced the launch of a multi-concept boutique in Barcelona called Edan Studios based on HIIT, Pilates and ... More
20 Jun 2024
Turkish hospitality group Maxx Royal Resorts has launched a new upscale coastal retreat on Türkiye's Bodrum peninsula, complete with a large 4,500sq m destination spa. ... More
19 Jun 2024
Victoria Brownlie, the British Beauty Council’s chief of policy and sustainability, has been named in King Charles’ Birthday Honours 2024 for her services to the ... More
19 Jun 2024
The Health & Fitness Association (formerly IHRSA) has announced Singapore-based attorney and international industry advocate, Sean Tan, as its senior representative in Asia. In the ... More
19 Jun 2024
With the UK General Election imminent, industry strategist, Martyn Allison, says it’s time for the sector in the UK to stop asking for money and ... More
19 Jun 2024
Global restaurant brand, Subway, has teamed up with GB Basketball, Breaking GB and Skateboard GB to promote physical activity in these three emerging sports. The ... More
19 Jun 2024
A new retreat focused on helping people lead longer, happier lives is launching on the Japanese island of Okinawa. As one of the world's five ... More
18 Jun 2024
More than 20 organisations have joined together in the UK to form the Swim Alliance, which will advocate with one cohesive voice and work to ... More
18 Jun 2024
One&Only Resorts has introduced a new three-storey spa on the picturesque Greek island of Kéa, located at its recently launched oceanfront property, One&Only Kéa Island ... More
18 Jun 2024
According to a number of recent studies, semaglutide weight-loss drugs can be effective in treating depression, anxiety, dementia, addiction and some eating disorders. There is ... More
17 Jun 2024
German health and fitness operator, LifeFit Group, has found a new investor – Waterland Private Equity Investments. The deal is expected to complete later this ... More
1 - 15 of 67,989
Nespresso Professional UK
Nespresso Professional UK